OPENING A BANK ACCOUNT

Opening a UK bank acount in South Africa before I left was probably the best thing that I ever did when it comes to my family's move to England. My tip to all South African's leaving for the UK would be to do the same. In case these comments are perceived as Financial Advice - they are not, they are simply my opinion on a matter that really helped me.


It wasn't even my idea, so I'm not claiming to be a genius. My relationship manager at ABSA Private Bank almost forced me to and I'm glad she did.


Why am I so glad? Firstly, I had a target account to move my SA money to before I left. Secondly, I didn't have to go through all the stress of proving residential address, identification and income when I arrived in England.  Lastly, it meant that I could operate seamlessly from a financial perspective immediately on arrival.


My ATM card worked in all the cash machines and at all the EFTPOS machines at the checkouts at all stores. I also had a credit card to use in a country where I had no credit history. When I needed to pay for anything on-line or over the phone I did so with no problem whatsoever.

The alternative to the above is obviously opening a bank account once you have arrived in the UK.  To do this you will have to prove who you are and where you live and more than likely that you are earning a monthly income.

This means a passport - no problem.  Proof of address is a little more tricky as you will need a utility bill or a lease agreement.  For these it means you've found a place to live, signed the agreements and have already had the utilities switched into your name.  This can take some time - all time in which you will not be able to have a bank account.

Three months salary slips is self explanatory - you may have to wait three months once you've found a job before the banks will open an account for you.

I can't stress then how much easier things will be if you somehow get your account opened before you make the journey to the UK.