When it comes to managing finances, choosing the right bank is very important and it can be a game-changer. Whether you’re a domestic student, working professional, or international student in the UK, a suitable and good bank in the UK can make a big difference in your banking experience.

In this blog, we are going to discuss 10 banks in the UK which are best in the game just for you. This is what Uninist does for students in the UK, from finding suitable student accommodation in UK to providing a guide on best banks in the UK, we cover it all! So, without any more delay, let’s get right into it!

Which Are the Best Banks in the UK?

The United Kingdom has some of the best banks and a good and reliable bank is very important. Here is the list of best banks in the UK:

1. HSBC
2. Barclay
3. Lloyds banking group
4. Santander Uk
5. Natwest
6. Royal Bank Scotland(RSB)
7. Halifax
8. TSB
9. Metro bank
10. Monzo

These are the top 10 banks in the UK. Now let’s discuss each of them in a little more detail with key benefits as well.

1. HSBC

HSBC is one of the largest banks in the UK and HSBC is renowned for its international presence and extensive financial services. The bank was established in 1865 and HSBC offers a comprehensive array of banking services, ranging from personal banking to business banking. Services catering to international clients as well. The bank is renowned for its dependable customer service and international presence, HSBC also has an array of student accounts for foreign students who wish to study in the UK.

Key Benefits:

• The bank provides international banking services.
• It provides a comprehensive online banking platform.
• HSBC has strong security features.

2. Barclays

Barclays is a major player in the UK banking system and Barclays is a UK giant bank that provides an extensive portfolio of services such as personal banking, savings, investments, and business banking. Being a UK high street bank it operates through a large network of branches and ATMs across the UK. The bank is also famous for its cutting-edge digital products, making it a favorite among technology-savvy customers.

Key Benefits:

• Barclays has competitive savings account interest rates.
• There are several banking alternatives for students and global customers.
• The bank’s mobile banking applications are easy to navigate.

3. Lloyds Banking Group

Lloyds is one of the high street banks in the UK and flexes its long standing reputation for customer service. Providing student accounts, mortgages, and many personal banking services. The bank is especially renowned for its assistance to customers with differing financial requirements. Lloyds also provides competitive current accounts with online banking facilities which means that it is a popular option for many.

Key Benefits:

• The bank has excellent customer support and service.
• Great for student accounts with excellent benefits.
• The bank provides flexible mortgage and savings choices.

4. Santander UK

With its aim to offer accessible banking services, Santander UK has become one of the United Kingdom’s top banks. Famous for offering great student banking options, including free overdrafts, Santander offers competitive loans, savings accounts, and credit cards. Santander’s student accounts are especially great, with a lot of incentives and excellent customer service.

Key Features:

• The bank provides high student overdraft and rewards.
• The online banking is very simple and straightforward.
• Robust international presence for international students.

5. NatWest

NatWest has a strong heritage and it is the other large player in the UK banking market with a long history dating back to 1968. With a huge presence on the high street and groundbreaking banking opportunities. NatWest is a customer favorite when it comes to personal and business banking. The bank provides great student accounts as well as student loans that are flexible.

Key Benefits:

• The bank’s app is an award-winning mobile banking app.
• The bank also provides special deals for students.
• Strong financial services for business and personal banking.

6. Royal Bank of Scotland (RBS)

Being a part of the NatWest Group, Royal Bank of Scotland provides secure financial services, ranging from personal accounts to business banking. RBS is one of the most reliable banks in the UK and it is known for providing exclusive student discounts and personalized account handling. It also offers customized banking facilities for international students in the UK.

Key Advantages:

• The bank has personalized customer handling.
• There are also exclusive bank offers for students.
• The bank is strongly established in Scotland and the UK.

7. Halifax

Halifax is best known for its low-cost services and accessible online banking options. It is one of the UK’s biggest banks and it provides everything from savings accounts to mortgages with a focus on keeping banking easy and accessible. It is especially popular among students because it has free student accounts with fantastic benefits and an extremely simple-to-use mobile platform.

Key Features:

• Halifax provides free student accounts with fantastic benefits.
• Competitive savings and loan rates.
• The bank has an excellent mobile banking app which provides easy banking.

8. TSB

TSB is a bank based in the UK with a reputation for personalized service and excellent rural and urban presence. TSB offers several financial products including student accounts, credit cards, and loans. The bank takes special interest in enabling its customers to meet their financial objectives with customized guidance.

Key Benefits:

• TSB has excellent customer service.
• Competitively priced loan and savings rates.
• There are no-fee student accounts which help students a lot.

9. Metro Bank

Metro Bank is a new high street bank in the UK, but one which has made a big impression already. Famous for its ‘customer comes first’ philosophy. Metro Bank has a range of accounts and services available, from student accounts to digital banking options. The bank has an aim of making banking easy and accessible, Metro Bank is a great choice for students seeking easy-to-use banking.

Key Benefits

• Seven-day-a-week opening for customer convenience.
• Pioneering in-branch and online banking services.
• High customer satisfaction ratings.

10. Monzo

Monzo is a mobile-only bank that has proved very popular with the younger generations, including students. Having a streamlined mobile app, Monzo provides fee-free current accounts, instant alerts, and budgeting and monitoring of spending. Being one of the best British banks, it offers convenient banking without the requirement of a branch visit.

Key Benefits:

• The bank has an innovative mobile app with an instant alert feature.
• Fee-free student account and budgeting facility.
• Easy-to-understand and transparent services.

Conclusion

There are many choices in the UK’s banking system for students and professionals, ranging from mainstream high street banks like Barclays and HSBC to new-age digital banks like Monzo. The right bank is the one that suits your individual requirements, such as accommodation in university, discounts for students, and savings targets.

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