A list of UK bank accounts for Ukrainian refugees

Gert Svaiko

Having arrived in the UK in difficult circumstances, you’re going to want the clearest information on how best to manage your finances.

To help get you set up with a bank quickly, we’ve put together a list of UK bank accounts suited to your needs. We’ll show you how to go about applying for an account, so you know what to expect. And we’ll run through a useful overview of how British banking works.

While you’re here, we’ll also show you an alternative from the money services provider Wise - the Wise account. It's free to open and could be a cheaper way to send money back to the Ukraine when you need to.

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So, let’s begin with a look at banking in Britain.


Table of contents

How British banking works - an overview

The Bank of England is at the head of British banking. The sector consists of private UK banks, international banks and building societies. All are regulated by the Financial Conduct Authority (FCA).

The retail market is fairly large, with a wide selection of banks to choose from. Currently, there are 344 banks and 52 building societies in the UK.¹ A handful are dominant, including the ‘big four’ - HSBC, Lloyds, NatWest and Barclays.

Online and mobile banking is widely available too. In recent years, specialist digital-only banks such as Monzo and Revolut have become very popular. However, people in the UK regularly still use physical branches too.

The UK currency is the British Pound Sterling (GBP). Cash withdrawals can be made at ATMs widely available throughout the country, with most ATMs in the UK free to use with British bank cards. However, you can expect a small fee when using foreign cards or withdrawing foreign currency.¹

Banks in the UK offer the following services:

  • Current and savings accounts
  • Credit cards
  • Loans
  • Savings and investment solutions
  • Insurance products
  • Mortgages.

What do I need to open a bank account in the UK?

Opening a bank account with a UK bank can be done in person in your local branch. It can now often be done online too, which could save you lots of time.

You’ll usually need to complete an application form and provide some documentation to prove who you are.² The type of documentation that’s accepted does vary depending on the bank.

Usually you’ll need to provide one of each of the following:³

  • Proof of identity (either a passport, ID card or biometric residency card)
  • Proof of address (either a recent utility bill or letter from the Home Office)

Some banks have made their accounts more easily and quickly accessible in response to the situation in Ukraine. So, you may not always be required to show a passport or proof of address.

If the bank offers them, basic bank accounts can usually be opened even if you have a poor credit rating or low income.²

📚 Read more: Can you keep your UK bank account when moving abroad?

A list of bank accounts for Ukrainian refugees

Now, let’s take a closer look at your options when choosing a bank in the UK.

In this list, we’ve provided a mix of traditional banks, with physical branches available all over the country, and fully digital banks. Which works best for you will depend on your personal circumstances and preferences.

These banks listed below do all offer easy to set up basic bank accounts, and some even have tailored options for Ukrainian refugees.

Bank nameOperational HQ
NatWest Group (including NatWest & RBS)Edinburgh
The Co-operative BankManchester
Santander UKLondon
MonzoLondon
RevolutLondon

NatWest/RBS Ukrainian refugee account

NatWest Group (which includes both NatWest and RBS banks) offers a tailored account for Ukrainian refugees. It should be pretty straightforward to open too.

This is a basic bank account (available at both banks) which you can use to make payments, send money and receive income, with no maintenance fees.⁴

With this account, you’ll be able to pay through contactless debit card, Apple Pay or Google Pay. You can manage your daily finances through Natwest’s mobile app. You may also be able to make international payments through the app with no fees.⁴

A big advantage is it can be set up quickly, either online or in branch. You’ll just need to be:

  • 18+
  • A temporary UK resident with either an in date Biometric Residence Permit, Ukrainian international passport or Ukrainian national ID card.⁴
  • If you’re applying online you’ll also need an email address.⁴

An interpreter service is available in branch to help you open an account and answer any queries if you need it.

The Co-operative Bank Cashminder account

The Co-operative Bank has made its free Cashminder account a feasible and attractive option for Ukrainian refugees.

With this account, you get a debit card and access to convenient online and mobile banking, so you can manage your money on the go. You can make payments with Apple Pay, Google Pay and Samsung Wallet.

What’s more, you don’t have to pay any maintenance fees. You can even open the Cashminder account as a joint account.⁵

To open this account, you’ll need to arrange an appointment with a branch. The bank won’t need to perform a credit check.⁵

But, you’ll need to be:

  • Over 16
  • Able to present a valid Ukrainian passport or national ID card.⁵
  • Able to provide proof of your current UK residence.⁵

This is the full list of accepted identification. If you don’t have all of the documentation, you should mention it to the bank ahead of the appointment.

Santander UK Basic Current account

Santander’s Basic Current account is a good option for customers new to the UK. The bank has taken steps to make sure that it’s easily accessible for Ukrainian refugees.

With Santander, you get a basic account with no maintenance fees.⁶ This account lets you get paid, make payments and manage your bills day to day. It also gets you a non-contactless debit card, as well as online and mobile banking.

Other perks include free use of any Santander cash machines in the UK and overseas, as well as cashback and vouchers through Santander’s free rewards service.

To open this account, you’ll be asked for:

  • Proof of identity (biometrics residency card)
  • Proof of address (either National Insurance, Universal Credit, Child Benefit or HMRC correspondence or a utility bill).⁷

But if you don’t have these documents you can visit a Santander branch. Just make sure to bring along either your passport and vignette for the Ukrainian Family scheme, or passport page with UK entry stamp (6 months) and Home Office letter, or the email you used to enter the UK (original visa letter).⁷

Monzo account

Monzo is a UK online bank which provides fully app based banking services.

It offers a free Monzo account which is easy to open and lets you manage your finances daily, with the help of pots for separating out your money.⁸

You get a debit card, and are able to spend with mobile wallets like Apple Pay and Google Pay. You can also earn interest, save, and borrow, as well as sending low cost international transfers with Monzo, powered by Wise.

Opening a Monzo account is possible if you have limited documentation. You’ll only need to download the app and then apply online with your biometrics residency card.⁹ You’ll just be asked to provide the address where you’re currently residing so that you can receive your Monzo debit card.⁹

📚 Read more: Best digital banks in the UK

Revolut Standard plan

The innovative global neobank Revolut is another option for customers who want to bank digitally.

Revolut offers a choice of monthly plans, starting with a basic free Standard plan, this includes a debit card and app-based banking services.¹⁰ With the Standard plan you can send and receive money, and exchange currency too.

If you’ve just arrived in the UK and have limited documentation, an account with Revolut could allow you quick access to your money. You can do this by opening an account with Revolut and linking the Revolut app to your existing Ukrainian bank account.¹⁰

Use Wise to send money to Ukraine

During your time in the UK, you may need to send money to Ukraine. While it depends on who you bank with, international transfers can be expensive with a UK bank. Banks often charge high fees for global money transfers and you can’t guarantee you’ll get a good exchange rate.

The good news is that there’s a money-saving alternative available. Open a Wise account for free and you can send money to the Ukraine and worldwide for low fees* and the mid-market exchange rates.

With the Wise account, you can also get the international debit card for spending in the local currency in 150+ countries.

Sign up with Wise today 💰


So, that’s it! After reading this, you’ll now have a clearer idea of how the banking system in the UK works, along with a list of bank accounts for Ukrainian refugees so you can choose the right one for your needs.

And of course, it’s also useful to know about the support that’s in place for Ukrainian refugees.


Sources used:

  1. Expatica - Guide to Banking in the UK
  2. CitizensAdvice - Getting a bank account
  3. PositiveActioninHousing - Refugees and asylum seekers: How to get a bank account
  4. Natwest - Ukrainian refugee account opening
  5. The Co-operative Bank - Ukrainian refugee bank account
  6. Santander UK - Basic current account
  7. Santander UK - Situation in Ukraine - FAQs for customer
  8. Monzo - Monzo current accounts
  9. Monzo Blog - Getting a Monzo bank account as a refugee
  10. Revolut - Launching payment services for Ukrainian refugees

Sources last checked on date: 19-Oct-2023


*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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