Transactions made in Manchester are preferably made through cards rather than cash. Therefore, having a debit card linked to your bank account would help make your transactions easier. For greater convenience, you might want to link your debit card to your mobile payment device through Apple Pay or Google Pay. You can easily withdraw money at any bank branch or cashpoint (ATM) in the UK. Unlike in Singapore, cashpoints here are not differentiated by banks. While a small number of cashpoints charge a withdrawal fee for every transaction, most cashpoints – including those in college – do not have additional charges. These cashpoints are usually marked with the words ‘free withdrawal", "free cash", or something similar.
Steps to opening a bank account
1. Call your preferred bank branch to book an appointment.
You should ideally book the appointment once you reach Manchester or maybe even before that in Singapore, as appointment slots get taken up very quickly in the first few weeks of term. You may also apply to open a bank account online if you meet the requirements of your preferred bank.
2. Go to the University in person and request for a Bank Letter addressed to your preferred bank branch.
Ensure that the Bank Letter states your full address (make sure that it is updated on your Student e-Service account). The Bank Letter also must be addressed to the branch of the bank which you would be opening your account at. Do your research and make a final decision about which bank (and exact branch) you would like to open an account with before requesting your Bank Letter.
3. During the appointment, you will need to present your passport, BRP, Bank Letter, Printed UCAS Letter, and Printed bank appointment letter (if the bank appointment was booked online).
4. By the end of the appointment, you should receive your bank sort code and account number. You will also receive important required details to make international money transfers from Singapore
Major Banks in the UK
Barclays Bank
Barclays has the Student Additions Account (International), which is the international edition of its UK student account. No monthly fee is required to maintain the account and there is no interest paid into the account. Barclays is the most popular bank that most Singaporean students used in the UK.
86-88 Market St, Manchester M1 1PD, United Kingdom
Monday, Tuesday, Thursday & Friday 9:30am–4pm
Wednesday 10am–4pm
Saturday 9:30am–2pm
Sunday Closed
51 Mosley St, Manchester M2 3HQ, United Kingdom
+44 345 734 5345
Monday, Tuesday, Thursday & Friday 9:30am–4pm
Wednesday 10am–4pm
Saturday Closed
Sunday Closed
HSBC UK
The only bank that allows you to set up your UK bank account in Singapore is HSBC, and there are specific requirements for the procedure, which includes having an existing HSBC Singapore account. You may set up your HSBC UK Basic Bank Account in Singapore by contacting the HSBC International Banking Centre (Singapore) via email: ibcsingaporehdpi@hsbc.co.in or phone: 1800 227 8889 (during working hours from 9.30 a.m. to 5.p.m., Monday to Friday). However, note that additional charges may apply for setting up an account from Singapore. This process may take up to 2.5 months, so start early.
Alternatively, for freshers whose parents are HSBC Advance or HSBC Premier customers in Singapore, an ‘Overseas Education’ option allows for the creation of an overseas account from Singapore. However, note that such accounts require fixed deposits of a large sum of money. Full benefits and features may be found on the HSBC Singapore website. Do find out more as well from your nearest HSBC branch and speak to your banking relationship manager.
You can apply for the HSBC Basic Bank Account, which gives you the most basic requirements of a debit card and Internet banking, with no additional interest.
2-4 St Anns Square, Manchester M2 7HD, United Kingdom
Monday - Friday 10am–2pm
Saturday Closed
Sunday Closed
Lloyds Bank
The Club Lloyds Current Account is a current account that pays up to 1.5% interest per year on your whole balance (up to £5,000), and gives you an annual benefit of six movie tickets, magazine subscription or an annual Gourmet Society membership. The interest will be paid only if you have at least two different direct debits paid from your bank account every month (eg. monthly mobile bills or fixed donations to charities) For amounts ranging between £1 to £4000, you will earn 1% annual interest, and for amounts stored above £4000 and below £5000, you will earn 2% annual interest. Do note though that interest will not be paid for any amount over £5,000.
Alternatively, you can create a Lloyds Classic Account, which does not charge any account fee. However, there is no interest paid for the Classic Account.
42-46 Market St, Manchester M1 1PW, United Kingdom
Monday - Friday 9.30am–3.30pm
Saturday Closed
Sunday Closed
Santander Bank
Santander has the Essentials Current Account which requires you to pay a monthly fee of £1. No interest is paid into the account.
Piccadilly Gardens, 130 Market St, Manchester M60 1AY, United Kingdom
Monday - Saturday 10am–2pm
Sunday Closed
NatWest Bank
NatWest offers the Select Bank Account which is a no-frills account that does not come with a monthly fee. It provides the most basic requirements of a debit card and Internet banking. No interest is paid into the account.
19 Market St, Manchester M1 1WR, United Kingdom
Monday - Friday 10am–3pm
Saturday Closed
Sunday Closed
Digital Banks
Monzo
Monzo is a fully mobile application based bank with no physical branches. It is best used as a secondary account for managing your spending and for holiday spending. Its features include a summary of your monthly spending which helps you to keep track of your monthly budget. It also allows you to request or pay money from your friends with just their mobile numbers, which makes it nifty for splitting bills.
Monzo is also useful for travel purposes as they charge no fees for overseas spending, and only use Mastercard exchange rates, unlike regular banks which mark up the exchange rate offered to you. You can make cash withdrawals outside the UK of up to £200 every 30 days, after which there is a 3% withdrawal fee. Using Monzo is free and there are no monthly fees involved. Simply download the Monzo application from the Apple App Store or the Google Play Store to sign up. Do take note that you will need your BRP to sign up for an account.
Written By: Ava, Publicity Director
(Shoutout to ICSS for sharing some of the useful information!)