Starting a New Job: Practical Advice for Employers and Employees
Starting a new job is a major life transition. It brings opportunity and growth — but it also brings uncertainty, nerves and, for many people, real financial pressure. When pay arrives later than expected, paperwork is confusing or support feels absent, a promising moment can quickly become stressful.
Recent search behaviour shows that people are not just thinking about performance in a new role, they are searching for:
- “anxiety when starting a new job”
- “starting a new job without a P45”
- “when will I get paid?”
- “starting a new job halfway through the month”
These themes reveal something important: the early weeks in a role are not just about settling into work, they are about managing risk, establishing confidence and navigating systems that aren’t always straightforward.
For employers and employees alike, small adjustments in this early stage can make a big difference in long-term financial resilience and wellbeing.
What Employers Can Do To Support A Strong Start
Employers are in a unique position to turn a transition that is often stressful into one that builds confidence and inclusion. Here’s how:
1. Clarify Pay Timing and Take-Home Pay
Many new starters search for “when will I get paid?” or “why is my first pay lower than expected?”
- Communicate the pay schedule clearly before the first day.
- Explain how pay periods work if someone starts mid-month.
- Offer a simple guide to take-home pay, including common deductions like tax or National Insurance.
This reduces uncertainty and helps new employees plan their first month.
2. Explain Income-Related Processes Early
Paperwork such as P45s, tax codes and benefits can be confusing, especially for younger employees or those returning to work after a break.
- Provide a clear checklist of required documents.
- Consider a short session on how tax codes work and where to get help if something seems incorrect.
- Signpost internal HR colleagues or external support services who can answer questions confidentially.
An informed starter feels more in control — and more ready to focus on their role.
3. Recognise the Emotional Side of Transition
Searches for “starting a new job with anxiety” and “nervous about starting a new job” are common. Financial uncertainty adds to emotional load.
- Include mental wellbeing as part of your onboarding conversations.
- Reinforce that it is normal to feel nervous and encourage newcomers to ask questions.
- Share information about employee assistance programmes or wellbeing resources.
Simple reassurance and openness reduce stress and build trust.
4. Support Financial Inclusion from Day One
Some employees arrive with very different starting points — for example, those new to the UK, without savings, or with irregular income histories.
- Ensure your onboarding does not assume prior knowledge of UK systems (banking, taxes, benefits).
- Provide plain-language guides and offer one-to-one time for practical queries.
- Think beyond performance to functional confidence: if someone doesn’t understand the basics of money management, they will carry that uncertainty into their working life.
Being inclusive at the start creates a foundation for long-term engagement and retention.
What Employees Can Do To Strengthen Their First Weeks
Starting a new job is not just about learning a role, it’s also about managing transitions in a way that supports your wellbeing and financial stability.
1. Get Clear on Pay and Timing Before You Start
If you can, ask:
- When does the first payday fall?
- How do deductions like tax and National Insurance work?
- What documents do they need from you?
Understanding this early helps you plan bills, rent and essentials.
2. Ask for Support with Admin
There is nothing unusual about needing help with paperwork.
- Ask HR about P45s, tax codes and benefits.
- If you don’t have a UK credit history, ask about payroll systems that don’t require one.
- Seek clarification early rather than waiting for the first payslip.
Being proactive reduces surprises.
3. Talk About Anxieties - It Helps
Feeling anxious about starting work is common and it can affect sleep, confidence and financial decisions.
- Reach out to a colleague or mentor for perspective.
- If you have access to wellbeing services through your employer, consider using them.
- Remember that transition anxiety is a normal human response, not a personal failure.
Understanding your own feelings helps you manage them.
4. Plan for the First Month
Practical planning helps reduce financial stress:
- Budget for expected expenses before the first payday.
- Prepare for potential gaps (for example, if pay arrives mid-month).
- Understand how your payroll cycle affects rent, bills and savings.
Small planning steps build confidence quickly.
Shared Benefits: Why Getting This Right Matters
For employers:
Better transitions lead to improved productivity, stronger engagement, lower turnover and a reputation as a supportive workplace.
For employees:
Clarity, inclusion and support reduce stress, improve confidence and set people up for financial strength, not just job performance.
Both sides benefit when early employment is seen not just as a role, but as a transition that deserves attention, understanding and support.
Practical Takeaways Summary
Employers should:
- Communicate pay and admin clearly.
- Explain UK systems in plain language.
- Normalise anxiety and offer support.
- Provide inclusive, practical onboarding.
Employees should:
- Ask about pay and timing upfront.
- Clarify paperwork and processes.
- Recognise that anxiety is normal.
- Plan financially for the first month
Why Only a Quarter of Young Adults Learn Financial Literacy at School and What Could Happen Next
Just 26% of 18–21year-olds in the UK report receiving any formal financial education at school. That leaves approximately 4 million young people navigating adulthood without essential money skills like budgeting, saving or recognising scams. Many turn to social media influencers for guidance, often at their peril.
Santander
Education Gaps: Hurting Lives
Financial illiteracy isn’t just disruptive, it’s damaging. Studies consistently link poor financial education to mounting debt, reduced savings, and heightened stress. If only a quarter of young people are taught financial basics, what hope do we have of building a financially resilient generation?
A Step Forward: New School Curriculum
There’s cause for cautious optimism. England will roll out 80 new lessons in schools aimed at ages 5–16. These will cover fundamental money skills like recognising ads, managing online spending, and identifying scams, while older students will learn about inflation, cryptocurrency, credit and more.
The Guardian
This is the sort of real-world relevance students deserve in their education.
Financial Support in the Real World
Policy and curriculum changes are vital. So are practical supports. Ofgem’s recent £9 million funding to charities through its Energy Redress Scheme allows organisations to deliver energy and financial support directly to vulnerable households. In areas like Liverpool and Staffordshire, Citizens Advice used these grants to support thousands with practical advice.
That’s the kind of frontline strength that changes lives today.
What Could Happen Next
Experts suggest that future progress might focus on:
- Embedding financial education into the core curriculum – ensuring lessons are consistent, assessed, and not left as optional extras.
- Supporting educators with tools and training – giving teachers the confidence and resources to deliver money lessons effectively.
- Sustaining practical delivery through charities and community schemes – so that short-term funding models don’t undermine long-term support.
Hyfa Foundation's Vision
Hyfa Foundation's approach spans education, support and community outreach:
- We design practical content on budgeting, managing money, and avoiding scams that works for young people and adults.
- We collaborate with local partners to deliver money skills where they’re needed most.
- We highlight the need for consistent financial education and support through policy conversations.
Final Thought
Financial education isn’t optional. It’s part of making society fairer, stronger, and more resilient. With curriculum reform on the horizon and practical schemes already at work, there is momentum but more remains to be done. Hyfa Foundation is committed to playing its part in helping make that change real.
Please do read about our Policy Briefing Paper on Financial Inclusion
What is Financial Inclusion?
What is Financial Inclusion?
Financial inclusion is about more than just having a bank account. It’s the ability to access and use a full range of financial services — from savings and credit to insurance and pensions — in a way that meets individual needs and improves quality of life.
In a fair society, everyone should be able to access these services regardless of their income, background, or personal circumstances. But for many people across the UK — especially younger people navigating early adulthood — financial inclusion is still far from a reality.
Hyfa Foundation believes financial inclusion is fundamental to building a secure future — and we’re working to highlight the barriers that remain, particularly for disadvantaged groups. Through our upcoming policy document, developed by Hyfa Foundation trustee and PhD researcher Calvin, we’ll be exploring these issues in more depth and advocating for change.
What does financial inclusion actually mean?
According to the Financial Conduct Authority (FCA), financial inclusion means ensuring individuals, regardless of background, have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.
It's not just about being “banked”. It also means:
- Having fair access to credit at reasonable rates
- Understanding how to use financial products confidently
- Being able to save, invest, or plan for the future
- Avoiding reliance on high-cost or informal lenders
- Having protection in place for life events such as illness or job loss
Yet access is only part of the equation. Inclusion also requires capability: the knowledge and confidence to use financial services effectively. Without it, even those with access can find themselves locked out in practice.
And beyond both access and capability, there is a growing need for product innovation. The current financial system still largely offers a “one size fits all” approach. Many financial products are not designed with diverse or changing consumer needs in mind — particularly for younger people, people with unstable incomes, or those with non-traditional financial histories.
There is an opportunity for financial service providers to go further: to develop products and services that genuinely reflect different life stages, circumstances, and communities. Innovation should play a key role in making financial services not just available — but relevant, flexible, and truly inclusive.
Who is affected by financial exclusion in the UK?
Financial exclusion in the UK often follows the same fault lines as other types of inequality.
- Around 1.1 million UK adults still have no bank account (FCA Financial Lives 2022 survey)
- Nearly 13 million people – around 1 in 4 adults – have low financial resilience, meaning they struggle with savings or coping with unexpected expenses (FCA, 2023)
- Young people face particular barriers. For those aged 16–24, low financial capability, limited access to credit, and a lack of tailored support can make navigating the financial system especially difficult.
Other groups are also at risk. Ethnic minority households, low-income families, and people with insecure housing or employment often face additional challenges. People in financially excluded groups may face higher living costs (e.g. using pay-as-you-go meters or doorstep lenders), fewer opportunities for wealth-building, and greater vulnerability to economic shocks.
Structural barriers: beyond personal finance
Financial exclusion isn’t just about poor budgeting or personal choices. It often reflects deeper systemic barriers — from credit scoring systems that disadvantage renters, to bank ID requirements that exclude people without fixed addresses.
Hyfa Foundation trustee Calvin Cowell has been researching the experience of financial disadvantage among young people in the UK, particularly those from underrepresented or low-income backgrounds. His work highlights how exclusion is often perpetuated by inflexible systems, poor communication from financial institutions, and a lack of accessible, age-appropriate financial education.
Our forthcoming policy document will outline the real-world implications of these barriers and what’s needed to break them down.
Why financial inclusion matters
When people are excluded financially, the effects ripple across every area of life — from housing to education, employment to mental health. Financial inclusion supports:
- Economic participation: People who can access credit, save, and insure themselves are better equipped to contribute to and benefit from the economy.
- Social mobility: A fairer system gives people the tools to plan, invest, and build stability across generations.
- Community resilience: Inclusion reduces dependency on crisis support and encourages longer-term financial wellbeing.
As the cost-of-living crisis continues, financial inclusion is not a luxury. It’s a necessity.
What Hyfa Foundation is doing
We work to promote financial fairness across key life transitions – including starting a business, migrating to the UK, and entering retirement. We also recognise that early adulthood is a crucial period for shaping lifelong financial habits and access.
Our work includes:
- Practical guides and education through our Knowledge Hub
- Awareness campaigns that address inequality and spotlight lived experience
- Policy engagement to influence systems and decision-makers
Our next step is to publish a new policy document, led by Calvin’s research, that brings evidence, lived experience, and practical insight together. This will be an essential resource for professionals in financial services, policymakers, educators, and anyone working with young people and other disadvantaged groups.
Sign up to stay informed
If you’re interested in understanding more about financial inclusion – or want to be part of the conversation around fairness and access – we invite you to sign up for updates. You’ll receive a copy of our policy document as soon as it’s published, along with news from Hyfa Foundation and resources for financial wellbeing.
We want to make financial inclusion not just an idea, but a reality for every young person starting out in life and for anyone facing unfair barriers.
Campaign Launch: Introducing Our 2025 Policy Briefing on Financial Inclusion
Young people growing up in financial exclusion are not lacking potential – they’re lacking access. In the critical years between adolescence and adulthood, access to financial tools, services, and education is more than a convenience, it’s a building block for independence, opportunity, and security.
We see first-hand how financial exclusion continues to harm young people in disadvantaged communities. Many are underbanked, underinformed, and unsupported – often through no fault of their own. Without the right knowledge or resources, they face serious barriers to saving, building credit, accessing further education, or even securing stable housing.
That’s why we’re proud to sponsor a forthcoming Policy Briefing Paper on Financial Inclusion, set to be released in September 2025.
The Urgent Need for Change
New research shows that financial exclusion is not just about lacking a bank account – it’s about being locked out of the systems that allow long-term decision-making. The situation is particularly acute for young people aged 16–25 living in deprived areas, who are often navigating adulthood without guidance, trusted information, or safe financial services.
A 2024 report from the London Foundation for Banking & Finance revealed that 81% of 15–18-year-olds worry about money. For those in communities where financial institutions feel unfamiliar or unwelcoming, the system itself becomes a barrier – reinforcing cycles of disadvantage.
Grounded in Research and Lived Experience
The upcoming briefing paper has been led by Hyfa Foundation trustee Calvin Cowell, whose academic research focuses on financial inequality in the UK. His work brings together quantitative data and lived experience, painting a clear picture of how exclusion affects not just financial outcomes, but also mental health, confidence, and long-term resilience.
Financial inclusion, when done properly, is more than a technical fix – it’s a form of youth empowerment. When young people understand how to manage their money and access safe, affordable financial products, they are better able to advocate for themselves, contribute to their communities, and plan for a more secure future.
What the Paper Will Deliver
The Policy Briefing Paper on Financial Inclusion 2025 will:
- Present evidence-based recommendations for improving financial inclusion in the UK
- Focus on regional strategies informed by lived experience
- Be addressed to key government departments as an open letter
- Make the case for inclusion as a core component of youth policy, not a side issue
This paper is part of a wider campaign to shift how financial inclusion is understood and acted upon – from policymakers to educators, banks to youth organisations.
Get Involved
The message is clear: if we are serious about empowering the next generation, we must start by making sure every young person has a fair chance to build a financially secure future – regardless of background.
We’re looking for:
- Collaborators and co-signatories
- Donors and sponsors
- Organisations working with young people who would like to support or amplify the message
💡 Visit our dedicated webpage to register your interest and stay informed.
For partnership or press enquiries, please contact us at smix@hyfa.foundation
We can challenge exclusion and help build a financial system that works for everyone, starting with those who’ve been left out for too long.
Enter AI: A New Way to Make Finance More Inclusive?
How AI Is Transforming Financial Inclusion for Marginalised Communities
Artificial intelligence is already shaping how we bank, borrow, and budget. In fact, 75% of UK financial firms are now using some form of AI (Bank of England & FCA, 2024). But AI’s real value lies in what it could do particularly for groups historically excluded from the system.
Here are some ways AI is being used to break down financial barriers:
1. Alternative Credit Scoring
Traditional credit scores often exclude people without long borrowing histories. But AI can analyse alternative data, like mobile phone usage or rental payments, to assess someone’s financial reliability more accurately. This gives access to credit for people who would otherwise be rejected.
A Nature review (2025) shows AI-driven credit models have “strong potential for increasing approval rates among underbanked populations, when designed ethically and transparently.”
2. AI-Powered Budgeting & Advice
For those overwhelmed by financial planning, AI-driven apps can offer personalised support such as budgeting tips, savings goals, and reminders based on real spending patterns. These tools can be especially helpful for people in transition or facing income insecurity.
Kaplan notes that AI-powered advice tools can “fill gaps in financial literacy while providing consistent, judgement-free guidance.”
3. Detecting Bias and Reducing It
One of the most promising (and challenging) aspects of AI is its ability to surface and correct bias if the systems are designed with that in mind. The UK’s FCA is exploring synthetic data models to simulate how underrepresented users are treated, which could help spot and fix discrimination early in the process.
The Warning: AI Isn’t Neutral
It’s easy to assume that because AI is based on data, it must be objective. But as several studies have warned, AI can replicate the very same biases it’s supposed to solve if it's trained on skewed or incomplete datasets.
A study on LGBTQ+ exclusion in algorithmic design found that “cis-heteronormative assumptions are embedded in mainstream training data,” leading to persistent underperformance for marginalised users (Springer, 2024).
That’s why it’s crucial that developers, banks, and policy-makers actively design for inclusion not just efficiency.
Where Hyfa Stands
At Hyfa, we believe AI and technology have the potential to make life better but only when those creating the tools are consciously including those who are often excluded.
We’re committed to:
- Working with partners to design inclusive financial tools
- Educating people about their rights and options
- Advocating for ethical, community-first innovation
Final Thought
AI won’t fix financial inequality on its own but it can be part of the solution. With the right safeguards, ethical standards, and people-first thinking, we can use technology not just to manage money but to build a more inclusive financial system for everyone.
Want to learn more about our work around financial wellbeing and technology?
Explore our Resource Hub or connect with us on LinkedIn.
Financial Checklist for Newcomers: How to Settle Financially in the UK
Blog post, 13th May 2025
Financial Checklist for Newcomers: How to Settle Financially in the UK
Moving to a new country brings excitement and challenges, especially when it comes to managing your finances. If you’re relocating to the UK, having a clear financial roadmap can make your transition smoother and less stressful. This comprehensive checklist covers the essential financial steps you’ll need to take when settling in the UK.
Before You Arrive
Research Cost of Living
Understanding how far your money will go is crucial before making the move. UK living costs vary significantly by region, with London being considerably more expensive than other areas.
- Research average rent, utilities, groceries, and transportation costs in your specific destination
- Use cost comparison tools to compare your current location with your UK destination
- Factor in council tax, which varies by property and location
Understand the UK Tax System
The UK has a Pay As You Earn (PAYE) system for income tax and uses tax codes to determine how much tax is deducted from your salary.
- Learn about UK tax years (April 6 to April 5)
- Familiarise yourself with income tax bands and the personal allowance
- Check if you need to complete a Self Assessment tax return
Plan Your Initial Budget
Arriving with sufficient funds to cover your first few months is essential.
- Budget for temporary accommodation if needed
- Plan for security deposits (typically 5 weeks’ rent)
- Include set-up costs for utilities and home essentials
- Factor in initial transportation expenses
First Priority: Banking
Opening a UK Bank Account
This should be one of your first priorities upon arrival.
- Research traditional and digital banks—traditional banks may require more documentation but offer branch services; digital banks like Monzo, Starling, or Revolut may provide quicker setup
- Prepare necessary documentation:
-
- Passport or ID
- Proof of UK address (utility bill, tenancy agreement)
- Proof of immigration status
-
- If you’re struggling to provide proof of address, some banks offer accounts specifically for international customers
Money Transfer Services
Until your UK bank account is active, you’ll need ways to access your money.
- Research international money transfer services with favorable exchange rates (Wise, Revolut, XE)
- Consider keeping a bank card from your home country as backup
Essential Setup Steps
National Insurance Number
Your National Insurance (NI) number is crucial for working and paying tax in the UK.
- Apply for your NI number as soon as possible
- You can start working before receiving your number, but you must have applied
- Your employer will use a temporary tax code until your NI number is assigned
Housing and Utilities
When securing accommodation:
- Budget for deposit protection schemes
- Set up direct debits for rent and utility payments
- Shop around for utility providers—comparison sites can help you find the best deals
- Register for council tax in your local area (students may be exempt)
Healthcare Financial Planning
The National Health Service (NHS) provides free healthcare, but there are financial aspects to consider.
- If you’re on a visa, check if you’ve paid the Immigration Health Surcharge
- Register with a local GP as soon as possible
- Budget for prescription costs (currently £9.90 per item in England)
- Consider dental payment plans, as NHS dental care has charges
Building Your Financial Foundation
Employment and Income
Understanding your employment rights and pay is essential.
- Ensure you have the right to work in the UK
- Check your employment contract for salary, pension contributions, and benefits
- Understand statutory benefits like sick pay and holiday entitlement
- If self-employed, research your tax obligations and necessary registrations
Building a Credit History
UK credit history doesn’t transfer from other countries, so you’ll need to build it from scratch.
- Register on the electoral roll if eligible
- Consider credit-building products like Loqbox or a secured credit card
- Pay bills on time and maintain good financial habits
- Use services that report to credit reference agencies
Pension Planning
The UK has automatic enrollment for workplace pensions.
- Understand your workplace pension scheme
- Check contribution rates from both you and your employer
- Consider additional voluntary contributions if appropriate
- Research how UK pensions differ from retirement plans in your home country
Protecting Your Finances
Insurance Considerations
Certain types of insurance are essential or legally required in the UK.
- Contents insurance for your belongings
- Building insurance (if you own property)
- Car insurance (mandatory if you own a vehicle)
- Life and income protection insurance as needed
Emergency Fund
Building a safety net is crucial when living in a new country.
- Aim to save 3-6 months of essential expenses
- Keep this money in an easily accessible savings account
- Research and compare interest rates for savings accounts
Long-term Financial Planning
Understanding ISAs and Tax-Efficient Saving
Individual Savings Accounts (ISAs) offer tax advantages for UK residents.
- Cash ISAs for savings
- Stocks and Shares ISAs for investments
- Lifetime ISAs for first-time home buyers or retirement
Property Considerations
If you’re planning to stay long-term:
- Research Help to Buy schemes for first-time buyers
- Understand the UK mortgage market and how residency affects eligibility
- Learn about stamp duty and other property taxes
Useful Resources
- Citizens Advice Bureau offers free financial guidance
- Money Helper (formerly Money Advice Service) provides free money management tools
- Your local council website for information on local services and payments
- HMRC website for tax information
- Financial Conduct Authority’s register to check if financial advisers are legitimate
Final Tips
- Keep detailed records of all financial transactions and documents
- Stay informed about changes to UK financial regulations that may affect you
- Consider seeking advice from financial advisers specialized in expatriate finances
- Connect with community groups for newcomers who can share practical advice
By following this checklist, you’ll be well on your way to establishing a solid financial foundation in the UK. Remember that financial systems vary by country, so give yourself time to adjust and learn. With proper planning and information, you can navigate the UK’s financial landscape with confidence.
Download the Hyfa Foundation Pocket Guide to Moving to the UK for more help with housing, healthcare, and employment.
Banking in the UK: A Guide for New Arrivals – How to Open a Bank Account and Understand the System
Blog post, 13th May 2025
Banking in the UK: A Guide for New Arrivals
Introduction
Moving to a new country comes with plenty of admin, and banking is often near the top of the list. Setting up a UK bank account helps you receive wages, pay rent, shop online, and manage your day-to-day spending. But if the system is unfamiliar, knowing where to begin can be tricky.
This guide explains how the UK banking system works, what types of accounts are available, the difference between banks and building societies, and how to open an account as a new arrival.
1. Understanding the UK Banking System
The UK has a well-established banking system with a mix of traditional high street banks, building societies, and digital-only banks. It’s regulated by the Financial Conduct Authority (FCA) to ensure fairness, security, and transparency.
All UK banks and building societies are also covered by the Financial Services Compensation Scheme (FSCS), which protects your money up to £85,000 per person, per institution in case the provider fails.
2. What’s the Difference Between a Bank and a Building Society?
While they offer similar services, the structure of banks and building societies is quite different:
| Feature | Banks | Building Societies |
| Services offered | Full range – accounts, loans, credit | Mainly personal banking and mortgages |
| Customer focus | May prioritise shareholders | Often more customer- and community-focused |
| Ownership | Shareholders | Members (account holders) |
| Profit distribution | Profit goes to shareholders | Profits reinvested or returned to members |
Example banks: HSBC, Barclays, NatWest
Example building societies: Nationwide, Yorkshire Building Society
Many building societies are known for better interest rates on savings and a more personal approach, though they may have fewer branches and products.
3. Types of Bank Accounts in the UK
Depending on your needs and immigration status, here are the most common account types available:
- Current Account: Standard account for day-to-day use, includes a debit card, direct debits, and online access
- Basic Bank Account: A simpler version without an overdraft – easier to open if you have limited ID or credit history
- Savings Account: Helps you put money aside with interest – can be opened alongside a current account
- Student Account: For those studying in the UK – often comes with perks like railcards or interest-free overdrafts
- Digital-only Account: Banks like Monzo, Starling or Revolut operate fully online – fast setup, useful if you don’t have proof of address yet
4. What You Need to Open a UK Bank Account
To open a standard account, you’ll usually be asked for:
- Proof of identity: Passport or Biometric Residence Permit (BRP)
- Proof of UK address: Utility bill, tenancy agreement, or a letter from your employer/university
- National Insurance number: Sometimes requested, especially if you’re working
Tip: If you don’t have a permanent address yet, some digital banks allow verification through their apps using location services or scanned documents.
5. Choosing the Right Provider
Here are a few things to consider when picking a bank or building society:
- Ease of account setup – do they offer online signup or require an in-branch visit?
- Customer support – do they offer multilingual service or in-app chat?
- Fees and charges – some charge for overseas transfers or cash withdrawals
- Reputation and reviews – helpful to know how newcomers have been treated
- Digital tools – do you want strong budgeting features or a user-friendly app?
6. Can You Open a Bank Account Before You Arrive in the UK?
Most high street banks require you to be in the UK with an address before you open an account. However, digital banks like Monzo and Revolut may allow you to start the process using your phone and passport while you’re still abroad – a useful option for planning ahead.
7. Common Questions from New Arrivals
Can I open an account without a job?
Yes – you don’t need to be employed to open a bank account, but it may affect what type of account or credit options are available to you.
Do I need a UK address?
Usually yes, but some banks and apps offer alternatives like letters from a hostel, university, or employer.
Can I have more than one account?
Yes – many people open a digital account for everyday spending and a traditional one for salary or rent.
8. Hyfa Foundation Tip: Be Clear on Your Rights
If a bank or building society refuses to open an account, they should explain why. You’re entitled to access basic banking services, and there are alternatives if the first provider isn’t a good fit.
Conclusion
Opening a bank account is a vital part of settling into life in the UK. From traditional high street banks and community-focused building societies to fast, flexible app-based options, there’s a solution for every situation.
Knowing what to expect helps you take control of your finances early and avoid unnecessary delays.
Download the Hyfa Foundation Pocket Guide to Moving to the UK for more help with housing, healthcare, and employment.
Hyfa at NAMSS 2025: Supporting Student Services Through Financial Education
Blog post, 22nd March 2025
Hyfa at NAMSS 2025: Supporting Student Services Through Financial Education
Earlier this month, Hyfa Foundation attended the NAMSS Annual Conference for the first time – a milestone moment for us as a charity.
Co-founder Stephen Mix represented Hyfa at the event, joining student services professionals from across the UK for two days of discussion, insight, and connection. As our first involvement in NAMSS, we weren’t sure what to expect – but the reception was overwhelmingly positive.
“It was energising to see how many people genuinely care about improving students’ financial literacy,” said Stephen. “Many of the professionals I spoke to told me that students regularly cite financial knowledge as one of their biggest areas of concern. It was clear there’s a real demand for practical support.”
Our online financial education course was particularly popular, with many visitors to the stand keen to find out how it could be integrated into their existing support frameworks. There was also strong interest in the bespoke, in-person sessions we deliver, designed to meet the specific needs of students navigating life’s key transitions.
For us, the conversations confirmed what we’ve long believed – that financial education is a core part of student support, and that demand is growing. From budgeting and managing debt to understanding payslips and planning for the future, students need more than academic learning – they need tools that equip them for real life.
We’re now actively following up with the individuals and organisations we connected with, and look forward to building long-term partnerships that put student support and financial education front and centre.