Can international students open an ISA account in the UK?

Emma-Jane Stogdon

Coming to the UK to study? You’ll have lots to do before your big move, from sorting out accommodation to completing enrolment forms.

You’ll also need to think about how you’ll manage your money when living in the UK. If you have savings (i.e. from a part-time job), you might be interested in opening a cash ISA. This is a type of savings account which gives you tax-free interest.

But can international students open a cash ISA account in the UK? Read on to find out, along with some tips for the best accounts to check out.

Is it possible for international students to open an ISA account in the UK?

Yes, if you’re over 18 years old and considered a tax resident in the UK, you should be able to open an ISA account as an international student.1

A tax resident is someone who spends at least 183 days in the UK across the tax year, and it means that they’ll pay tax on their wages if they’re working.2 So if you’re a full time student living in the UK - and perhaps you have a part-time job too - then you’ll be classed as a tax resident.

And this means you should be able to open an ISA account to benefit from tax-free savings.

Best ISA for international students living in the UK

Now, let’s take a look at a few of the best ISA accounts available for international students living in the UK.

We’ve only included easy access cash ISAs here, as these are likely to be the most suitable for students:3

ISA accountTypeInterest rateApplyMinimum deposit/balance
Trading 212 Cash ISAEasy access5.03%App/online£1
Moneybox Cash ISAEasy access (max 3. withdrawals)5.02%App£500
Chip Cash ISAEasy access4.89% for 6 monthsApp£1
Leeds Building Society Limited Issue Online Access ISAEasy access4.35%Online£1,000
Virgin Money Defined Access Cash E-ISAEasy access (max 3. withdrawals)4.31%Online£1
MarcusEasy access4.3%Online£1

Note: The interest rates above are correct as of 10.02.25.

Looking for a current account instead? Read our guide to the best UK bank accounts for international students.

Wise account – an alternative to a bank account

After reading this, you’ll have a better idea of what’s out there in terms of cash ISA accounts for international students. And if you’re a UK tax resident, you should be fine to open one.

But just remember that there are some alternative ways to manage your student finances while living in the UK.

A great option is the Wise account, a multi-currency account with access to the mid-market exchange rate, to help you to avoid high currency conversion fees*. Unlike many banks or providers, Wise only charges just a small, transparent fee*.

You can get a Wise card for everyday spending, send money back home for low fees*, and even earn returns on some currency balances with Wise Interest (capital at risk).

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

move-and-manage


Sources used:

1. GOV.UK - info on Individual Savings Accounts
2. University of Southampton - student’s guide to tax
3. MoneySavingExpert - easy access cash ISAs 2024/25 with the best interest rates

Sources last checked on date: 10-Feb-2025


*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.

Money without borders

Find out more

Tips, news and updates for your location