Letting Page 5
The Process
Setting up a British Bank Account
If you are arriving from abroad you may need to set up a British bank account. Scotland is part of the UK, and like England is not part of the Eurozone. The currency is Pounds Sterling (GBP/ £).
A bank account will take one month or more to set up after you have matriculated in Edinburgh. In the meantime, until your 'standing order' is set up please pay your rent as detailed on Page 3.
Instead of setting up a UK bank account, if you pay the rent by automated payment from abroad, please remember to cover international transfer charges.
Choosing a Bank
| Bank: | HSBC | Royal Bank of Scotland |
| Based in: | England | Scotland |
| Closest Branches: | Princes St. and Hanover St. | Nicolson St. and South Bridge |
| Cash Withdrawal: | Any machine | Any machine |
International postgraduate student tenants in 2006 - 07 gave us the following information and recommendations. They think that RBoS and HSBC are the two best banks. The main difference between them is that HSBC have an 'international student account' which is the only way to get a debit card (switch card) for your account. For this they charge £5 per month.
Anti-money laundering regulations in Britain are frequently changing and are making it more difficult to set up a British bank account. Good luck. Tenants have told us:
1) For HSBC, you must start your application online at www.hsbc.co.uk. RBoS may also have an online part to the process. Otherwise visit a branch.
2) Before you can complete the bank's paperwork you must matriculate at the University (during freshers' week) to get your student enrolment number.
3) Then go to the 'international office' or 'postgraduate office' and have them present you with a letter to hand to your bank. This letter must include your address in Edinburgh.
4) Your bank may also need to see (a) your passport, (b) your lease to the flat and (c) a letter from the university which confirms your funding. We are not sure about (c).
5) Then there is the standing order to set up (see page 4)
Other Letting Pages
Securing a Room -
Paying the deposit to reserve a room
Signing the Lease -
When and how to expect the paperwork
First and Second Month's Rent -
Before a standing order is set up
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