What You Should Do About Banking in the UK

When I decided to move to the UK I did some research about what to do my bank account. Bank of America is affiliated with Barclays and I thought that it would be a good idea to get an account with them. This way I could withdraw money through Barclays ATM's with no fee and the exchange rate is usually much better that way.

We got a Bank of America account and at first everything was fine. We could withdrawal the money we needed from the UK ATM's and when we checked our account online the exchange rate was good.

When we tried to rent a flat our bank account became a problem. Because we didn't have a UK bank account people were reluctant to rent to us. So we had to get a UK bank account quickly.

HSBC has a Passport Account that is ideal for people who are trying to establish themselves in the UK. We were not required to show proof of address to set up the account. We only needed our passports and one other ID. Our American driver's licenses were fine. When opening the account you can opt to pay an upfront sixty pound fee or pay six pound every month. If you decide to pay six pounds every month you must keep the account open for a year.

Opening this account helped us to be considered more legitimate when we tried to rent a flat. If you are going to rent a flat when you move to the UK, I recommend that you open a HSBC Passport Account. If you can, you should set up your UK bank account three months before leaving for the UK. This will give you a banking history that will look better to landlords. It will make things easier for you.