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Opening a Bank Account

Bringing Money into the UK

Some countries restrict the amount of cash that you can take overseas, please check this before you come over to the UK. It is recommended that you bring a relatively small amount of cash into the UK and arrange for money to be transferred over to the UK after your arrival, to be put into your newly-opened bank account. You will need enough cash to cover your journey to Cardiff and any food you need for the first few days here and a small deposit to open a bank account with. This should not be more than about 200 pounds sterling. You could also bring some travellers cheques with you, which is a safer way of carrying money.

All the buildings in the University Campus are within a short walk of a major bank (Bute Building is shown)

Opening a Bank Account

It is not possible to open a bank account until after you have arrived in the UK. However this is one of the first things that you must do immediately after you have enrolled. First you should decide which bank you would like to open an account in:

  • Do they offer any incentives to open an account - many banks give away free gifts to new customers
  • Check that international students are eligible for these incentives
  • Do they offer an interest-free overdraft?
  • Would you be able to get a cash card / cheque book / cheque guarantee card?
  • Do they have a special Student Business Officer?
  • What is their interest rate?
  • How much notice do you have to give to withdraw money?
  • Do they offer telephone banking?
  • Do they offer online banking?

All the major banks in the UK are within easy reach of the University campus area, and cash machines are located around the campus, within the Students' Union and in the city.

Types of account available

Most students find that they keep money in two accounts: a current account and a deposit account.

  • Current accounts - are ideal for using on a day-to-day basis for small amounts of money, for purchases like food and clothes etc. You should receive a cheque guarantee card, a cash card and a cheque book from this sort of account. Banks usually offer the most convenient forms of current accounts.
  • Deposit accounts - offer a higher rate of interest but you would usually need to give at least two weeks notice to withdraw money. These accounts are best for larger amounts of money and for payment of accommodation and tuition fees, although you must check that the account you are considering offers the option to pay bills by Direct Debit (this is how you will be asked to pay your accommodation fees). Building societies usually offer the best forms of deposit accounts.

What you will need to take with you when opening a bank account

You will need several items with you when you go to open an account:

  • A letter proving that you are a full-time student at Cardiff University for at least a year (ideally this should be the form that your department gives you after enrolment proving that you have enrolled);
  • An official document with your home address on it - a bank statement for example
  • Your passport;
  • British Council Scholars will need to bring a Bank Introduction Card from your Programme Office;
  • An amount of cash. Normally at least £20 is required, as your first deposit, to open an account.

Putting money in and taking money out

Putting money in - you simply need to take cash, or cheques, into your bank, complete a paying-in slip and hand it over to the cashier. Cash will be in your account the same day you deposit it at your branch. If you deposit cash in another branch it will take around three working days to clear; cheques normally take five working days to clear. If someone else is paying money into your account they will need to know your:

  • Account number
  • Sort code
  • Name and address of the bank, including post code.


Taking money out - most banks have cash machines enabling you to simply put your card into the machine, type in your details and money will be given, providing it is in your account! You can also go into the bank and request cash from the cashier. For some deposit accounts you may need to fill in a form to request money at least two weeks before you anticipate needing it. The Building Society would then send you a cheque in the post.

Plastic Cards

There are five main types of plastic card in the UK. These are:

  • A cash card - this allows you to draw money from a cash machine
  • A 'switch' card - this allows you to buy from shops, but is not a credit card; the money is drawn out of your account on the day of the purchase. Sometimes called a 'debit' card.
  • A cheque guarantee card - (this is often also a cash card) if you pay by cheque this card will guarantee a set amount, usually £50 - £100. If you post a cheque you do not need this card to guarantee a cheque.
  • A credit card - such as American Express, Visa, MasterCard. An expensive way to buy goods as the interest rates are very high.
  • A store credit card - can be used only in the store that issued the card; also a very expensive way to shop.


Some of the major banks in the UK
(all external links)


If you have any questions please do not hesitate to contact The International Foundation Office who will be happy to help.