Your first UK bank account after moving from Australia

In the UK you need a bank account to get paid, sign a lease or set up a phone contract, and most banks want an address before they open one. Most Australians who move to London hit that loop in their first week.

It’s much easier than it used to be if you start with the right kind of bank.

Monzo, Starling and Revolut open accounts in the app in minutes, usually from a passport and a selfie, and they tend to be relaxed about proof of address. For most people fresh off the plane this is the account that gets the first pay packet.

Monzo only runs a soft search when you open an account. Other lenders can’t see it and it doesn’t affect your score.

The high-street banks (Lloyds, Barclays, HSBC, NatWest) can work too. They’re more likely to want a letter or bill proving your address, and some want you to visit a branch. HSBC and Barclays both run international accounts for people relocating, which are easiest to get if you already bank with them at home.

A hostel, a friend’s flat or a short let is fine to start with. Open the app account with that address and change it the day you move into your own place. Keep the old address long enough to catch the card in the post.

Once you have a tenancy agreement or your first bill in your name, the high-street banks get much easier.

UK banks and lenders check your file with Experian, Equifax and TransUnion, and none of them can see your history back home. On arrival you look the same as an 18 year old who has never had a bill.

American Express is the one well-known exception. If you already hold an Amex card in Australia, its global transfer lets Amex UK use that history when you apply for a UK card.

UK banks pay people hundreds of pounds to move their current account, and many Australians in London never hear about it. A thin credit file changes how you should go about it, which our next post covers.