Read our guide on the best money transfer credit cards in the UK right now, including info on fees, interest rates and more.
Interested in opening a new bank account with UBL? Read on, as we’ve put together a handy guide on how to do it.
But first, a little background on UBL UK. Owned by parent organisation United Bank Limited, it has its headquarters in London. The bank provides personal savings, wholesale banking and Islamic banking to UK and Pakistani individuals and businesses.
Here, we’ll look at whether it’s possible to open a UBL account online, along with the details and documents you’ll need to provide during the application process.
We’ll even show you an alternative. The Wise multi-currency account is ideal for people looking to manage their money between the UK and Pakistan, and worldwide too.
But more on that later. For now, let’s get back to UBL.
Not all current and savings accounts at UBL UK are available to open online. Currently, you can only open the following accounts by post or in a UBL branch:
- ACE Current Account - this is UBL’s only current account for personal customers in the UK
- Online Easy Access Account - despite its name, you can’t open this account online.
To open one of the accounts above, you’ll need to download, print and complete this application form. Then, return it by post or in a UBL branch along with your photo ID and proof of address.
The UBL postal address is FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ. You can find your local UBL branch here¹.
However, there are two accounts that you can open online. These are the Fixed Term Deposits savings account, and the Fixed Rate Cash ISA. We’ll look at how to apply online for both of these accounts next.
Each of the UBL accounts available for opening online have slightly different eligibility criteria. Let’s take a look at what requirements you’ll need to meet to open each account:
The UBL Fixed Term Deposits account is available to applicants who²:
- Are at least 18 years old
- Have a UK bank account in their name - in order to fund the account and receive interest
- Can meet a minimum balance of £2,000 (GBP accounts) or $25,000 (USD accounts)
To apply for an account, you can use either internet banking or your mobile device. Visit the UBL Digital Banking page and select ‘Register’, then follow the instructions to complete your application³.
To apply using the UBL UK Mobile Banking app, you’ll need to download it from the Google Play Store or Apple App Store. Then, select the ‘New Customer’ option and follow the on-screen instructions³.
To be eligible to open a Fixed Rate Cash ISA with UBL, you’ll need to meet the following criteria⁴:
- Be aged 18 or over
- Be resident in the UK for tax purposes
- Have a valid National Insurance (NI) number
- Only open the account in your sole name
- Be able to meet a minimum balance of £2,000.
To open the account online, simply follow the same instructions as above.
During the online application process, you’ll need to provide the following³:
- Your personal details
- Your account information
- Answers to your security questions
- Proof of photo ID - such as your passport or UK Driving License.
When you register on a mobile device, you can either scan your ID documents or manually enter your information.
UBL says that the fastest way to open an account is via its digital application process. However, it doesn’t say whether your account will be opened instantly after you’ve submitted your application.
If you choose to apply by post or in a branch, it can take up to 15 days for your application to be processed⁴.
If you’re looking for an easy way to manage your money across multiple countries and currencies, check out Wise.
Open a Wise multi-currency account and you can send, spend and convert between 50+ currencies. You can do everything online, including making low-fee international transfers at the mid-market exchange rate.
There’s even a Wise debit card for spending like a local in 175 countries.
- UBL UK - Online Easy Access Account
- UBL UK - Fixed Term Deposits
- UBL UK - Internet Banking Help
- UBL UK - Fixed Rate Cash ISA
Sources last checked on date: 02-Nov-2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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