A bank account in England: the right to a basic bank account, and what protects your savings

Yes, you can open a bank account in England, even if you've only just arrived and have no fixed address yet. Nine large banks have been designated by the British Treasury to offer a basic bank account to anyone who is legally resident in the UK and doesn't yet have an account: no charges for everyday payments, no overdraft, and a decision within ten working days. The law even adds that people without a fixed address also count as legally resident. The trap is not in the account itself but in what you do next: your savings are guaranteed up to £120,000 per bank, and whoever transfers the proceeds of their Dutch house in one go needs to know that.

Why is opening an account so difficult?

Because an ordinary current account doesn't suit everyone. A bank assesses your application, and the banks have different processes, including for when they carry out credit and financial crime checks, the British Treasury writes. Whoever extends credit looks at what the credit reference agencies hold on you: mainly how you paid your credit and your utility accounts in the UK, and where you lived before. Whoever has just arrived has nothing there yet. The law catches that with a separate account that the big banks may not refuse to anyone legally resident in the UK.

What is a basic bank account?

A basic account in pounds with which you do everything you need day to day. The law lists it: paying in money at the counter, withdrawing cash, a debit card for shops and online payments, and transfers, standing orders and direct debits, the British collections with which you pay rent, energy and council tax. The number of transactions is unlimited. What's missing: an overdraft.

The nine designated institutions are Barclays UK, The Co-operative Bank, HSBC UK, Lloyds Banking Group (with Halifax and Bank of Scotland), Nationwide Building Society, NatWest Group (with RBS and Ulster Bank), Santander UK, TSB and Virgin Money UK.

Rule	What it means
Who is entitled	anyone legally resident in the UK without an account with those basic features, or not eligible for that bank's standard accounts
Without a fixed address	also counts as legally resident
Decision period	no later than 10 business days after your completed application
Charges	none, for the standard operations in pounds
Overdraft	not allowed
Refusal	in writing, with the reason and the complaints route to the Financial Ombudsman Service
Closure by the bank	at least 90 days' notice, for contracts from 28 April 2026

A bank may refuse if opening would be unlawful, for example contrary to the money laundering rules or to the ban on accounts for people without a right to be in the UK. That's why your immigration status may come up: keep your eVisa and passport to hand. The bank must also give a reason for a refusal that is specific enough for you to understand why, unless that would be unlawful.

Ask for it by name. Say you want a basic bank account under the Payment Accounts Regulations, and if you're refused, ask for the reason in writing. The bank has to give it to you, together with the route to the Financial Ombudsman Service.

When do you switch to an ordinary account?

You don't have to force it. Banks periodically review for themselves whether you can be upgraded to an ordinary current account, taking into account the eligibility criteria, your financial circumstances and how you use the account. You can also ask for it yourself. What a credit record in England builds on is set out by the privacy regulator (ICO): the three main credit reference agencies keep track of how you pay your credit and your utility accounts, your previous addresses, and information from public sources such as the electoral roll. Telecoms and utility companies pass on information too. A contract and an energy bill in your own name, paid on time, therefore count.

How safe is your money?

The British deposit guarantee, the FSCS, protects £120,000 per person per bank. Watch the word bank: institutions that share one banking licence also share that limit, even if they operate under different brand names. A joint account is protected per account holder.

For emigrants one exception is worth knowing. If there's temporarily a high balance in your account because of a life event, such as the proceeds of selling your house, the FSCS protects up to £1.4 million for six months. That gives breathing room when the sale of your Dutch home and the purchase in England don't fall on the same day.

And your Dutch account?

Keep it, alongside the British one. Why your Dutch account and your DigiD are the two lines you never cut is explained in keeping a bank account and DigiD.

In Vertrekklaar this is phase 5 of 5 of the journey, step 5.2: the same steps, but for your situation — in your order, tickable, and with the deadlines watched. See the whole journey to England or go straight to step 5.2 in the open plan.