If you're an Australian moving to the UK, having a UK bank account is going to fairly high on your to-do list (trust me, I've done it).
While you won't really be able to open a proper UK bank account until you've actually arrived in the UK, in the meantime you can open an account with a multi-currency provider like Wise or Revolut that lets you swap Australian dollars for British pounds.
After you arrive in the UK, you can then open an account with a British bank and transfer the pounds to your new account.
The easiest way to get a British bank account will be using a digital bank like Monzo or Starling, which have fairly light criteria for those looking to open an account.
how to open a bank account in the UK as an Australian
We've broken this down into two stages depending on your current situation:
1. How to open a GBP account (before you leave Australia)
While you'll have to wait until you move to the UK to open a British bank account, it's possible to open an account that lets you hold British pounds today.
This can be extremely useful for when you first arrive in the UK and need to pay for things like groceries, rent and other expenses.
One option for opening a GBP account is to use a major UK bank that has a global presence and offers international or expat accounts, for example Barclays or HSBC.
However, these accounts often have high minimum balance requirements and ongoing monthly fees, so they're not ideal for everyone.
Another option is to use an online multi-currency account such as those offered by providers like Wise and Revolut.
These accounts are easy to open online, and you don't need a UK address to open them.
And because they let you hold a wide range of currencies, they're a flexible alternative if you're a regular traveller or need to send money overseas.
What are the best GBP accounts for foreigners?
These are our picks for some of the best GBP accounts for those looking to move to the UK:
Revolut is a non-bank provider that offers personal multi-currency accounts. You don't need to provide proof of a UK address to open an account - your Australian address will do - and you can send and receive transfers in over 25 currencies.
You can open a Standard Revolut account for free. But if you want to exchange more than $2,000 a month and get better exchanges rates, you'll need to upgrade to a Premium account.
A Wise Multi-currency Account lets you hold 40 currencies in one account. It also gives you local bank account details in 10 countries around the world, including Australia and the UK, which means you can receive payments in GBP and convert them to other currencies as needed.
You can sign up for an account as an Australian resident, and there's no monthly fee to worry about.
The account comes with a linked Wise card that you can use to make purchases around the world, and Wise also offers the mid-market exchange rate when you want to send money overseas.
HSBC's Expat Bank Account is a multi-currency account that lets you hold funds in GBP, EUR or USD. Your account is held in Jersey, Channel Islands, and makes it easy to send and receive payments when you're abroad.
HSBC Expat members can also access a Global Money Account. This account lets you send international transfers in 59 currencies and hold funds in 19 currencies, and it comes at no extra cost to you. It also comes with a physical and digital card you can use to make purchases in-store and online.
However, you'll need to be at least 18 years old and satisfy one of the following requirements to open a HSBC Expat Bank Account:
Hold at least £50,000 with HSBC Expat within 3 months of opening your account, or
Earn a salary of at least £100,000, or
Already be an HSBC Premier customer in another country.
The Barclays International Bank Account is available to residents of over 70 countries, including Australia. The account lets you hold funds in either GBP, EUR or USD, and it's easy to open an account online before you arrive in the UK. You also get a debit card to use in the UK and around the world, and Barclays supports international money transfers in up to 60 currencies.
However, you'll need to deposit at least £100,000 with Barclays to open an account. You'll also need to provide proof of address, proof of ID and details of your employment, income and tax residency details. Barclays says it takes 30-45 minutes to complete an application.
2. How to open a UK bank account (once you've arrived in the UK)
After you've arrived in the UK, you can then apply for a UK bank account. While it's possible to just keep using your multi-currency account, having a full UK bank account will be handy when it comes to things like your salary and tax, and also give you proof of address in the UK.
While you may prefer to go with a traditional British bank like Barclays, Lloyds, NatWest or HSBC, it's likely to be easier to get an account with digital banks like Monzo or Starling.
The benefit of going with a digital bank is that the application process is a lot simpler and less stringent than many of the big banks.
In fact, all you need to open a Monzo account is to be over the age of 16 and a UK resident (which you will be if you've moved to the UK on a visa or have a UK passport).2
Digital banks are becoming increasingly popular in the UK, with 40% of UK residents using a digital bank in 2025, according to Finder data.1
By comparison, opening an account with a traditional bank may require you to have proof of income and employment, which you won't be able to provide if you've moved to the UK without having a job there.
Of course, once you're settled in the UK, you may wish to open an account with one of the big UK banks or simply stick with a digital bank if you've gone with one of them.
What do you need to open a UK bank account?
You'll generally need to provide the following to open a bank account with a UK bank:
Proof of ID
Proof of UK residential address
Your name and date of birth
Your contact details
Your national insurance number (UK tax file number)
Our expert says: How I opened a UK bank account
"I moved to the UK in 2019 and found it easy to open an account with Monzo, a London-based digital bank. I did need to provide a UK address in order to receive my debit card and activate my account, but otherwise it was straightforward process to apply online. While you may want to then open an account with a traditional UK bank, I found Monzo to be a great option and used it as my primary UK bank for the 2 and a half years I lived in London.""
If you need to send money to the UK, the following tips will help you save money, time and stress on your international transfer.
Check the exchange rate markup. The AUD/GBP exchange rate you get for your transaction most likely won't be the same as the "real" (or mid-market) exchange rate. Banks and money transfer companies typically make money by adding an extra margin to the mid-market exchange rate - this is known as the exchange rate markup, and the size of the markup will have a big impact on the cost of your transfer.
Use a specialist transfer service. While sending an international transfer from your bank is the most convenient option, it's often also the most expensive. You'll find better exchange rates and low or no fees with specialist money transfer companies, so compare money transfer providers to find the best value.
Take advantage of advanced transfer tools. Some money transfer services offer special tools to help you get a better exchange rate for your transfer. These include forward contracts, which allow you to lock in an exchange rate today for a transfer that will be sent up to 12-24 months in the future, and limit orders, that ensure that your transfer is automatically sent when the exchange rate you want becomes available.
Watch out for transfer fees. Some companies charge a flat fee on every transaction, while others calculate their fee as a percentage of your transfer amount. But some money transfer companies will waive their fees on large transfers or simply won't charge any transaction fees, so check the fine print to make sure you know the full cost of your transaction.
Get your money there quickly. If you need to send an urgent transfer to the UK, consider using a company that offers cash pickup transfers. Depending on the payment method you select, the cash could be ready for your UK recipient to collect within minutes.
Frequently asked questions
Most banks will require you to provide proof of your UK address if you want to open a UK bank account. However, some major banks like HSBC and Barclays offer international banking services, allowing you to open an account even if you don't have a UK address. Alternatively, you could consider opening a multi-currency account with a provider like Wise or Revolut to allow you to send and receive GBP payments.
You can use your passport to provide proof of ID when opening a UK bank account. However, keep in mind that many banks will also require you to provide proof of a UK address before you can open an account.
Requirements vary depending on the bank, the type of account you want to open, and whether or not you're a UK resident. If you're a UK resident opening a current account (a transaction account in Australian terms), there will often be no minimum balance requirement. Multi-currency accounts from non-bank providers like Wise and Revolut also don't have minimum balance requirements. But if you're a non-UK resident opening an international bank account, you may be required to maintain a balance of £100,000 or more.
Yes. While many banks will only allow you to open a UK bank account if you're a UK resident, some major banks offer international bank accounts to non-residents. Alternatively, you could consider using a non-bank provider that offers multi-currency accounts to Australian residents.
The "big four" Australian banks all have a presence in the UK, but their operations are focused on corporate and institutional banking rather than the day-to-day banking needs of retail customers.
Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance.
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To find the best rate for your next money transfer, check out our comparison of the fees, exchange rates and transfer speeds of Western Union and MoneyGram.
Check out our comprehensive review of CurrencyFair international money transfers, including fees, exchange rates, security and transfer times.
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