International students have long faced delays and problems when it comes to opening up a UK Bank Account. In fact, in a 2014 UCAS survey, 62.5% of international students placed it in their top three issues when moving to the UK to study. However, this problem could now become a thing of the past thanks to UniZest, a new FinTech business that has taken advantage of the developments in e-banking and mobile services to pioneer the new UK online account service for international students that can be all set up and ready to go before they even leave their home country.
Through a simple online application, students need to provide a few personal details, their passport information, an official written confirmation of their place at University and their date of departure. On acceptance, UniZest will open their ‘Aspire’ Account and can FedEx their Visa debit card straight to their home address prior to their departure.
Students can manage their accounts digitally, both online and via their mobile devices, giving complete peace of mind that their finances are in place and ready for their relocation. The account service charge is just £3 per month and there are minor additional charges for some other services, however, all of the charges are made clear to the students prior to them completing their applications.
Co-Founder Peter Miles said,
“The UniZest Aspire Account has been designed to provide complete peace of mind to the student and their family, so that they know their banking and financial arrangements are settled before they arrive in the UK. Not only is this much safer for the student, it greatly reduces their stress in those important first weeks in the UK, helping them to settle more easily into University life.”