Opening an account

Before opening an account you will get information about the account and the services provided. You’ll need to provide documents to prove your identity.

You can open an account in your name only or with another person or persons (a joint account).

Before opening an account

A bank or building society will give you details about:

• the banking services they provide

• any charges for that service

• the interest rate (if any) they will pay you on any money you have in the account

• the terms and conditions of the account

• how the account or services can be operated or accessed (for example in a branch or online)

• any spending limits on the account

• what to do if things go wrong

• how it will give you information about the transactions into and out of your account, and

• the compensation arrangements that apply if they go out of business, including how their different trading names affect your entitlement to compensation.

For savings accounts, some of this information may be in a summary box that will help you compare different accounts from different providers.

Opening an account

Once you've decided which type of account you want to open, you will usually be asked to:

• fill in an application form or provide information about yourself in another way

• provide proof of identity – you need to prove who you are and where you live (see below), and

• pay some money into your account (however, you may be able to do this later).

The bank or building society will tell you if it plans to run a credit check on you with a credit reference agency about your suitability to have a bank account – see Credit scoring.

Joint accounts – an account you open with one or more other people. If you are applying to open a joint account, the bank or building society should tell you about the extra rights and responsibilities involved before you open the account. You should ask or be told:

• whether one person can withdraw the entire balance without the knowledge or permission of the other account-holder(s)

• whether each person will be individually responsible to the bank or building society for repaying the whole amount of any overdraft on the account, and

• what to do if your relationship with a joint account-holder ends.

Sometimes accounts are aimed at particular customers, and you may be refused an account if you don’t fall within that group. You can ask for a reason if you are refused, but generally being refused will not affect your credit rating or your ability to get an account elsewhere.

Proof of identity

The law says banks and building societies have to identify new customers. This is to help stop criminal activities like money laundering. Firms will explain which documents they will accept as proof of your identity, although this may vary from one bank or building society to another. Some firms will check databases such as the electoral roll and those kept by credit agencies. But most will ask you for documents. They may ask you for a government-issued document:

• with a photograph – such as a valid passport, or

• without a photograph – such as a valid old-style driving licence – plus another document from an approved source.

If you don't have these documents, they may accept other documents such as:

• a letter from a government department or local authority confirming a right to state benefits

• suitable confirmation of identity from a young person's workplace or educational institution, or

• a letter confirming a person's identity from a care-home manager or warden of sheltered accommodation or a refuge.

Further options may be available if you are an international student, migrant worker, refugee, asylum seeker, prisoner or on probation.

If you’re opening a basic bank account, check the list of ID requirements for basic bank accounts to find out which documents you will need to prove your identity.

You may also be asked to prove your identity if you make a large cash withdrawal or debit card transaction. The bank or building society will probably copy or make a note of the details of the identity documents. But they must protect all personal data.

To find out what each bank will accept as proof of identity you can check on their website or ask the branch staff.

Which one is right for you?

There are so many banks, building societies and different types of accounts it can be difficult to work out which one is right for you. A good starting point is to think about how important different features are to you. Would you prefer to talk to your bank face to face in your local branch? Or would you prefer to do everything by telephone or on the internet?

Here's a list of things to consider. Print off this checklist and tick the features you want for easy reference.