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How Much Money Do I Need to Open a Bank Account in the UK?

Published in Banking 1 min read

You generally don't need any money to open a basic bank account in the UK. Most banks offer free current accounts with no minimum deposit requirement.

However, some banks may have specific requirements for certain types of accounts, such as:

  • Premium accounts: These accounts often require a minimum deposit or a monthly fee.
  • Savings accounts: Some savings accounts might require a minimum initial deposit to open.
  • Business accounts: These accounts might require a larger initial deposit depending on the bank and the type of business.

Here are some examples of popular UK banks that offer free current accounts:

It's always best to check the specific requirements of the bank you are interested in before applying.

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