Relocation FAQs: Setting up a bank account, relocation spends and student loans
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Are you a Grad, Primary or High School teacher looking to make the move to teach in the UK?
If so, you’re in the right place! You may have some questions regarding money such as how to set up a UK bank account and how much you’ll need when relocating, so we’ve compiled together all the useful info you’ll need!
If you have a question that you would like an answer to that doesn’t feature below, send an email to international@twrecruitment.com.
How do I open a bank account in the UK?
We have an established relationship with HSBC and partner with several branches throughout England. Once you’ve confirmed your arrival date, we can book an appointment for you to open an account at the branch closest to you.
You’ll only need your passport, BRP (if applicable) and a letter of employment from Tradewind to open an account. The bank will then send your card to a UK address you provide us with. This will arrive within 5-7 working days. We’d recommend you contact us to book an appointment.
Alternatively, to open a bank account with most banks in England you’ll need:
- Passport
- Visa or Biometric Residence Permit (BRP)
- Proof of address in the UK
- National Insurance Number (can take several weeks or even months from applying)
How much money do I need to relocate to the UK?
We would recommend a minimum of £2,000 to cover the basics of:
- Flight costs
- Deposit for your room/flat, plus your first month’s rent
- Cost for setting up and organising UK mobile phone number and contract
- New school clothes
- Transport costs, e.g. Oyster card in London
The good news is that once you start working you get paid weekly in the UK! You don’t have to budget for much before you get paid in dollars.
You will also need to sort your VISA before moving to the UK.
How does my HECS / student loan debt work in the UK?
If you’re a teacher from Aus, once you’re working for us and your income has been assessed then your monthly contributions will be taken through your tax return. Check this article for more info.
If you’re a teacher from NZ, you’ll be required to make the minimum payments if you’re working out of NZ for 6 months or more. Please find more info.
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