United Kingdom (GB)

Monthly fee: £0 (basic) to £15/month (premium plans)

Requirements: Any valid passport or national ID. No UK address proof required to open. Download app and verify identity with a selfie and document scan. Accounts available within minutes.

• + Opens immediately without UK address proof — perfect for new arrivals
• + UK account number and sort code from day one
• + Full-featured current account — can receive salary, set up direct debits
• + Excellent budgeting tools and instant notifications
• + Spending abroad in foreign currency at near-interbank rates (with monthly limits)
• + No monthly fee for basic account
• + Easy in-app customer support in English
• + Salary and direct debit support from day one

• - Monthly limit on fee-free foreign currency spending on basic plan — £200/month fee-free; Monzo Plus (£5/month) or Premium (£15/month) required for higher limits
• - Digital-only bank — no physical branches; all complex issues resolved via in-app chat; no in-person support option anywhere in the UK
• - Some employers' payroll systems are slow to accept newer bank sort codes — most have resolved this by 2026 but confirm with your UK employer's payroll team before switching
• - No mortgage, savings, or insurance products from Monzo directly — must use a traditional bank alongside Monzo for full UK financial services

Monthly fee: £0 (no monthly fee at any level)

Requirements: UK residential address required. Valid passport or driving licence. Online application via app — no branch visit. Minimum age 16.

• + No fees — current account, incoming payments, UK transfers all free
• + Fee-free spending abroad (no foreign transaction fees, no ATM fees abroad)
• + Excellent app with instant notifications and spending insights
• + UK FSCS protection (£85,000)
• + Business accounts also available
• + Full UK current account functionality
• + No monthly fee unlike some traditional banks

• - UK address required to open — cannot open before a UK residential address is available; no alternative address workaround accepted; use Monzo first on arrival
• - Digital-only bank — no physical branches anywhere; all issues resolved via in-app chat; no in-person support option
• - International SWIFT fees for non-UK transfers: £5.50–20 per outbound wire — Wise is significantly cheaper for frequent overseas remittances
• - Less brand recognition than Big Four banks among some landlords, mortgage lenders, and older institutions — occasionally questioned alongside Monzo for certain financial reference purposes

Monthly fee: £0 (standard current account) to £10.99/month (Barclays Blue Rewards)

Requirements: UK address proof, passport, and sometimes NI number. Branch appointment or online for eligible applicants. Some nationalities may need to visit a branch.

• + One of the UK's "Big Four" banks — long-established and widely trusted
• + Barclaycard — one of the UK's leading credit cards (helps build credit history)
• + International banking and multi-currency accounts available
• + Widely distributed branch and ATM network
• + Strong international wire transfer capability
• + Barclays app is well-rated

• - UK address required — cannot open without a UK residential address; new arrivals must use Monzo or Revolut first to bridge the gap
• - New arrivals may need to visit branch with extensive documentation — some nationalities cannot open online and require in-person verification; processing can take 1–2 weeks
• - Standard account requires a reasonable UK credit history — new arrivals with thin UK credit files are often offered a restricted Barclays Basic Account initially; upgrade available after 3–6 months
• - International SWIFT fees: £25–35 per outbound wire plus 2–4% FX spread — Wise is significantly cheaper for regular overseas transfers

Monthly fee: £0 (standard) to £12.95/month (Advance)

Requirements: UK address, passport, sometimes NI number. HSBC has a specific "Expat" proposition — if you already have an HSBC account in another country, transferring to HSBC UK is significantly easier.

• + Global banking relationship — existing HSBC customers internationally can get a UK account before arriving
• + HSBC Expat account for international workers
• + Strong international transfers and multi-currency capabilities
• + Recognised globally — useful if managing finances across countries
• + Good mobile app
• + International student proposition

• - Can be slower to open than digital banks for new arrivals without an existing HSBC international relationship — documentation requirements extensive; pre-arrival HSBC Expat route is the exception not the rule
• - Premier account requires £50,000+ in savings or a qualifying HSBC mortgage — out of reach for most new expats; standard Advance (£12.95/month) fee applies otherwise
• - International SWIFT fees for non-HSBC transfers: £20–35 per outbound wire plus 2–4% FX spread — transfers between HSBC accounts globally are free but limited to HSBC recipients
• - UK address required — standard UK account opening still requires a UK residential address; non-HSBC customers face the same chicken-and-egg problem as with other traditional banks

Monthly fee: £0 (Club Lloyds: £3/month or free with qualifying deposits)

Requirements: UK address, valid ID, sometimes NI number. Online or branch application.

• + Large traditional bank with extensive branch network
• + Club Lloyds account offers lifestyle benefits (Disney+, cinema tickets, magazine subscriptions)
• + Strong mortgage products (useful when buying property)
• + Good mobile banking app
• + Lloyds International for offshore banking

• - UK address and credit history required — not accessible to new arrivals without an established UK address; same chicken-and-egg problem as other traditional banks
• - New arrivals may be offered a Lloyds Basic Account initially — restricted functionality with no overdraft or cheque book; upgrade to standard account possible after 3–6 months of good management
• - International SWIFT fees: £25–35 per outbound wire plus 2–4% FX spread — Wise is significantly cheaper for regular overseas transfers
• - App and digital banking less feature-rich than Monzo or Starling — no round-ups, limited budgeting tools, and fewer self-service features compared to neobank equivalents

Monthly fee: £0 (standard) to £45/month (Ultra)

Requirements: No UK address required. International passport accepted. Opens instantly via app.

• + Instant to open before arrival — useful for immediate cash access
• + Excellent for foreign currency exchange at interbank rates
• + Multi-currency account (hold GBP, EUR, USD, and 30+ currencies)
• + International transfers at very low cost
• + Cryptocurrency and stock trading within app
• + Travel-friendly with lounge access on premium plans

• - UK sort code on some accounts but not always accepted for salary payments
• - Not suitable as primary current account for all purposes
• - Controversial customer service reputation
• - Recent UK banking licence obtained — check current status