Hello! If you’re reading this, you’re probably getting ready for your studies in the UK. It’s an exciting time!

While you’re preparing everything – from your visa to how to get to school – there’s something important we need to talk about: banking. I know it might not sound very interesting, but getting this right will make your time in the UK much easier.

Let’s Start With Something Important: A Common Mistake to Avoid

Here’s something that often happens: students arrive in the UK and, because they want to set up their life here quickly, they use their temporary address – usually their host family’s home – to open a bank account. This seems like a simple solution, but it can cause problems.

Let me explain why this isn’t a good idea.

When someone opens a bank account, it creates a record at that address – like leaving a mark in the UK’s banking system. Think about what happens when many different students do this at the same address, one after another. Soon, that one house has many different bank accounts connected to it. This causes problems for the kind people who live there, in other words, your host.

“Why is this a problem?” you might wonder. Here’s a simple example: imagine your host family needs to get a loan or change their mortgage. The bank looks at their address and sees many bank accounts being opened and closed. This looks strange to the bank. As a result, your host family might have trouble getting loans or might have to pay higher interest rates. This isn’t fair to them, especially when they’re being kind by helping students. This is why we ask students not to open bank accounts using their host’s address and certainly not to do so without getting their permission first.

The Good News: There Are Better Options!

Now that you understand the problem, let me help you with the solution and tell you about some better ways to manage your money in the UK:

Digital Banks: Simple and Quick

Modern banking apps like Monzo, Revolut, and Wise make everything easy. They’re perfect for international students because:

• You can open an account quickly
• You don’t need a UK address
• The apps are easy to use
• You can see when you spend money right away
• Sending money to your home country is easy

International Bank Accounts: More Services

Big banks like HSBC, Barclays, and others have special accounts for international students. These accounts offer more services, and you can often open them before you leave your home country. They usually give you:

• The ability to use different currencies
• Help in your language
• Special services for students
• Support in multiple countries

Your Home Country Bank

Did you know? Many banks in your home country work with UK banks. Check if your current bank has any connections in the UK. This might be the easiest option, and they might give you better rates because you’re already their customer.

Choosing What’s Best for You: Keep It Simple

When you’re picking a bank, think about what you really need:

• If you just need to pay for food, transport and days or nights out, a digital bank might be perfect
• If you’ll be sending money between countries often, an international account might be better
• If you want to talk to someone in person, choose a bank with offices in the UK. The bigger, international banks often have accounts you can open against your address at home but give you a card you can use in the UK.

How to Set Up Your Banking: Easy Steps

Before you come to the UK:

1. Choose which type of bank you want
2. Get your important documents ready (passport, university acceptance letter)
3. Start your application if possible

After you arrive:

1. Get a UK phone number
2. Download your bank’s app
3. Follow their simple instructions to finish setting up your account

Some Final Helpful Advice

Banking might not be the most exciting part of coming to the UK. But when you get it right, you can focus on the important things – meeting new people, seeing your new city, and enjoying your studies! Plus, you’ll be helping your hosts by not causing them any problems.

Remember, you’re not just here to study – you’re becoming part of the UK community. Making good choices about banking shows you care about the people helping you. If you’re not sure about anything, your university’s  or school’s international student office is there to help or just contact us at London Homestays – info@londonhomestays.com and we will be happy to give you the most up to date information. We help new students with this type of question every day!

We hope you have a wonderful time in your homestay and studying in the UK!