How you wish to manage your finances will depend very much on how long you are staying in the UK. If you are only staying in Bristol for a short period of time, you may not wish to open a UK bank account. In this case you may prefer to bring all your money in travellers’ cheques or you may consider using a credit card or a cash card that gives you access to an account at home.
Current UK legislation does not allow you to open a bank account in the UK before you arrive. You could enquire whether your home bank has a special relationship with a bank in the UK and if they can help you set up an account.
Your bank may be able to advise you on transferring money to the UK. There is no limit on the amount of funds you can bring into the UK, however you may need to meet exchange control requirements in your country. Please do not bring large amounts of cash with you to the UK as it can take several days to open a bank account and there are obvious security risks in keeping large sums of money with you. We would strongly recommend alternative safer methods, such as travellers' cheques or banker's draft.
Travellers’ cheques can be changed at banks and bureaux de change, although a commission charge will be made. If you buy travellers’ cheques in sterling, there is generally no charge for changing them into cash. Travellers’ cheques also have the advantage that they can be exchanged for cash immediately at most banks and bureaux de change, whereas a bank account can take more time to open. If you do bring money in travellers’ cheques, make sure to make a note of all the numbers and keep this separate from the cheques themselves.
Credit cards are widely accepted in UK shops, restaurants, garages and many other outlets. If you do bring a credit card, it is advisable to bring one from a well known bank. Check with the international section of your bank before leaving to see what they advise. Credit cards can also be used to withdraw money from the majority of cash machines within the UK.
You should open a bank account as soon as possible after arriving in Bristol. It is a good idea to consider several and ask friends which bank they found the most friendly and helpful.
To open a bank account, complete an application form (available from the bank) and take it with any documents the bank needs to see. These usually include:
Once you have opened your account, keep your bank statements safely, as you may need them for immigration or other purposes.
Most banks will issue you with a combined cash and debit card when you open your account.