Introduction
One of the small but important steps in preparing for life at a UK boarding school is helping your child manage their own money. While many schools provide tuck shops or prepaid cards, having a proper UK bank account is often essential especially for older students.
This guide walks you through how to set one up, what documentation is needed, and which accounts work best for young people studying in the UK.
Do They Need a UK Bank Account?
For students aged 13+, especially those travelling from abroad or living away from home for the first time, a UK bank account helps with:
• Managing day-to-day spending at school and on trips
• Receiving allowances or emergency funds quickly
• Building financial responsibility before university
• Avoiding foreign transaction fees when using overseas cards
While younger pupils may not need one straight away, by Year 10 or Sixth Form, most students benefit from having their own account.
Age-Appropriate Account Options
UK banks offer different account types based on age and level of independence. Here’s a general breakdown:
Ages 11–15:
• Youth accounts (e.g. Barclays BarclayPlus, Lloyds Under 19s)
• Require parental consent and a UK address (boarding school is acceptable)
• Typically come with a debit card and online access, but no overdraft
Ages 16–17:
• Standard teen current accounts (e.g. NatWest Adapt, HSBC MyAccount)
• Offer more flexibility and budgeting tools
• Often come with savings accounts or mobile app access
18+:
• Full student current accounts with perks (e.g. interest-free overdrafts, railcards, or cash rewards)
• Perfect for Sixth Form leavers heading to university
Digital banks like Monzo and Starling are also popular among older students for their intuitive apps and instant payment notifications.
Required Documents
Most banks will ask for a few key documents to open an account. These usually include:
• Passport or photo ID
• Proof of UK address (school letter or confirmation of boarding address)
• Proof of guardianship or parental consent (for under 16s)
• Visa or BRP if your child is an international student
Some schools help with this during induction week or provide the letters needed.
Tip: Not all branches handle under-18 accounts, so check ahead and book an appointment where needed.
Parent-Controlled vs Independent Accounts
Younger students may benefit from accounts that include parental oversight—either via:
• Linked mobile banking apps
• Spending alerts and weekly summaries
• Top-up features for allowances
Older students generally prefer more autonomy but should still be guided on how to:
• Budget their termly allowance
• Track spending categories (food, transport, leisure)
• Avoid accidental overspending
Transferring Money from Overseas
For families based abroad, transferring money into a UK account can be done via:
• Bank-to-bank international transfers (often slower, with fees)
• Digital services like Wise or Revolut, which are faster and often cheaper
• Standing orders or monthly allowances pre-set via your UK account
Be aware of exchange rate charges and transfer fees—some families choose to open a Wise multi-currency account to simplify ongoing support.
Useful Extras for Students
• Budgeting tools – Many teen accounts have built-in apps with savings goals and spending caps
• Card freezing – Instant lock/unlock options in case your child misplaces their card
• Contactless payments – All accounts support Apple Pay, Google Pay, and tap-to-pay cards
• Savings pots – Encourage students to set aside a small amount monthly for trips or treats
Final Thoughts
Setting up a UK bank account is a relatively simple step that brings a lot of independence and peace of mind. Whether you go traditional with Barclays or Lloyds, or opt for digital-first banks like Monzo or Starling, the key is to find something that suits your child’s age, maturity, and money habits.
At Prestige Football Schools, we help families navigate all aspects of UK school life—including practical matters like banking. If you need help preparing your child’s finances or setting up the right account, we’re here to support you.
