Ukraine crisis – helping refugees access financial services

Approximately 21,000 people fleeing the war in Ukraine have arrived in Britain and another 70,000 visas have been issued by government.  The government has expressed a commitment to welcoming more refugees and speeding up the process for arriving in the UK. 

We all know that access to services is crucial in helping people and families rebuild their lives in their new home countries quickly. Access and registering for financial services is particularly important for receiving government support, gaining employment and finding a home.   

The challenges of opening a bank account without complete documentation is well noted as a historical issue in UK banking. Over the past few years many of the mainstream banks have worked with charities who support people in vulnerable circumstances to understand and adapt to bank requirements and processes. The work with organisations like Shelter and Surviving Economic Abuse has helped ease the process for opening a basic bank account easier for people who might not have the correct paperwork open a basic bank account, including refugees.   

To better help you support those who may approach your organisation for assistance, we’ve pulled together a list of requirements for each bank that can be used by refugees from all nations. You’ll also find that in light of the current situation in Ukraine; Natwest, Nationwide and Virgin Money have outlined specific requirements for Ukrainians (which are available in both Ukrainian and Russian). All of the banks are also temporarily waiving fees for transfers to Ukraine.

BBC’s Money Box recently covered the challenge Ukrainian refugees are facing to open bank accounts and found that:   

• It seems people have better luck opening accounts at banks where their host family is already an existing customer as allegedly that’s the only way they can accept the proof of address (Halifax and Nationwide have commented on this) 
• Currently the visa confirmation letter does not actually include the address of the sponsor family which means it’s hard for Ukrainians to prove their address within the UK 
• UK Finance (trade body for banks and building societies) say that the industry is doing everything they can to be as flexible as possible
• Treasury and Home Office are being called on to include the address of the sponsor in the visa confirmation letter so Ukrainians can use this as proof of address

You can find more information and support for banking for refugees on the Refugee Council’s website which is available in 6 languages 

The Money and Pensions Service have also published an overview summary to basic bank accounts on their website and it’s available in Ukrainian and Russia.

Barclays
Account name: Basic
Age limit: 18
Identification requirements: ID, Proof of address
Other information: Free transfers to Ukraine
Barclays say: “We have a flexible approach to account opening for Ukrainian nationals, including a wide range of accepted ID&V documents aligned with the Home Office guidance, as well as a dispensation process in place to deal with issues on a case by case basis”

Halifax
Account name: Basic
Age limit: 18
Identification requirements: ID, Proof of address (in branch assistance is offered for customers lacking ID)

HSBC
Account name: Basic
Age limit: 16
Identification requirements: ID including – valid passport, Biometric Permit or EU driving licence. Proof of address is also required. HSBC will accept a letter from the UK sponsor confirming that the Ukrainian customer is staying at their home.
Helpful to know: Has opened over 1,000 basic bank accounts for Ukrainian refugees to-date

Lloyds
Account name: Basic
Age limit: 18
Identification requirements: ID, proof of address (in Branch assistance is offered for customers lacking ID)
Other information: free transfers to Ukraine
Helpful to know: Has the largest share of basic bank accounts

Nationwide
Account name: Flexbasic
Age limit: 18
Identification requirements: ID including – Ukrainian passports, Application Registration Cards and Biometric Residency Cards or Permits to confirm customer name
Current address: Home Office documentation to show customers new UK address
3 years’ address history: customers can enter Ukrainian addresses here

Natwest
Account name: Foundation
Age limit: 18
Identification requirements: Ukrainian passport or Ukrainian National ID card
Immigration status: passport stamp or insert by UK visa application or UK Border Force or Biometric residence permit issued by the UK government
Helpful to know: provide step-by-step application guidance in Ukrainian and Russian

Santander
Account name: Basic
Age limit: 16
Identification requirements: ID, proof of address

Virgin Money
Account name: M Account
Age limit: 16
Identification requirements: ID including – Biometric residence permit
Current address: Home Office documentation which shows the UK address or prof of address from the UK sponsors alongside their ID
Helpful to know: Provide step-by-step application guidance in Ukrainian and Russian