When it comes to logistics for moving to UK for the Sloan Masters Programme – there are two important things to take care of: Accommodation and Bank account opening in UK.
I will write in detail about the bank account opening process in this post while accommodation will be covered in a later post.
Based on my online research and interaction with alumni, I have found that UK banks insist on a local address proof if you have to open a bank account within UK. As a student, it will take some time to find accommodation and then get a lease document or utility bill as an address proof. However, you may want to have a bank account from day 1 of landing in UK or even earlier where possible so that you can transfer funds to that account prior to arrival.
After exploring options online, I learned that we can open a HSBC account from almost 45 countries across the world. See http://www.hsbc.co.uk/1/2/overseas-account-opening for details.
The process was straightforward. I walked into a local HSBC branch in Melbourne, Australia.
I submitted the following documents:
- LBS Sloan Offer letter
- Driver’s license
If you receive admission in LBS and are living in any of the 45 countries listed on the HSBC website, I strongly recommend opening a bank account prior to arrival.
However for any reason if you are unable to do so, make sure you carry enough GBP (currency/traveler’s cheques) that can help you sustain until you find accommodation. Also make sure you authorize someone in your home country to transfer funds once you open a bank account in UK. Not all countries permit forex transfer online.
The school provides you with two copies of enrollment confirmation letters specifying the course duration and the fees already paid by you. You can use these letters for opening a bank account or finding accommodation.
Please note that UK banks do not permit to open a bank account with school address for security reasons.