Banks |Building Societies |Financial Institutions Directory in UK

UK is sometimes termed as the financial capital of Europe because of its strong banking industry. British banking system is one of the oldest in the world with a number of leading international financial institutions having their headquarters in London, the capital.

With a number of world class banks, one can easily imagine the number of people opening accounts. If you�re new in UK and would like to open a bank account, you don�t have to worry the least. It is absolutely straightforward because of their excellent customer services and simple application lodging procedure. UK banks welcome over 60000 new customers every day.

There are over 54 million current accounts in the whole UK. The big four banks � Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland, which owns NatWest � control more than 70% of the market.

There are many types of accounts but the most common ones are Current, Basic or Deposit, Savings and Student.  Business personnel can have a dedicated Business account as well. If you�re a student, you�re most likely to open a Student account as it serves as the both current and savings account. Most Current accounts offer competitive options like overdraft facility, credit transfer, low interest loan and mortgage plans.

For overseas nationals, the standard requirements for opening an account are typically, a passport, proof of address, job letter or pay slip and in case of student; a college/ university letter confirming their status.

Most banks also offer money transfer facility, sometimes free or on a friction of charges. Monthly bank statements are sent via post. All the banks in UK are linked via ATM network.