The British Pound is the currency of United Kingdom. The currency rankings show that the most popular United Kingdom Pound exchange rate is the EUR to GBP rate.
The Big Five: Top UK Banks:
- Royal Bank of Scotland
- Lloyds Banking Group
Initially, this does not mean that one of the banks listed is the best choice for you. Other banks include Santander, Halifax, Standard Chartered, and Tesco Bank.
Opening a bank account:
Before your move to the UK, it would most convenient to open a bank account. For non-residents, various banks offer international accounts. Find out before hand, what are the requirements (identification, forms) needed to open the account in which will save you a lot of time. Some banks may ask you to deposit a start-up amount on your new account.
Opening an Account without a UK Address:
Opening an account without any proof of address in the UK may be somewhat difficult. The bank of HSBC requires identification and proof of an EU address. A good reminder is that passports, birth certificates, or National Insurance Cards do not count as proof of address. You can try to send in one of the following:
- Recent utility bill (less than three months old)
- Council tax bills
- Recent bank or credit card statements (less than three months old; not printed off the internet)
- Tenancy agreement or mortgage statement
- UK medical card, NHS card, or UK driver’s license
- Motor or home insurances certificates
Credit Cards/Debit Cards:
All cash machines in the UK run on the LINK network, the LINK network accepts almost all credit card types (American Express, MasterCard, Visa, JCB, Discover, Diners Club, BC Card and China UnionPay). Most of these logos are not shown but the cards themselves are accepted.
ATMs are found in bank lobbies, outside bank branches, post offices, supermarkets, pubs, restaurants, hotels, petrol stations and in less common locations. All British ATMs belong to the LINK network.
Bank Opening Hours:
The days that banks are normally open are Monday to Friday, except for bank holidays. A lot of bank processes, such as clearing a bank payment, only happen during these days, even though some branches may be open on Saturdays and Sundays.