Immigrant community can benefit from bank accounts
A variety of bank accounts in the UK have started to offer specialist bank accounts for immigrant workers in the UK. The number of immigrants that are entering the UK to seek work has risen recently, and many banks have realized that there is a large gap in the market in terms of offering bank account facilities for these immigrants to have their salaries paid in. Opening a bank account has been difficult to impossible for these people in the past because of their lack of UK credit history, no guarantee of employment, and no national insurance number.
One of the banks that is offering a specialist bank account for the immigrant community in the UK is HSBC, which now offers the Passport bank account. Immigrants are able to open the bank account in advance of actually moving to the UK, and this means that their bank accounts are already set up and ready to go by the time they move over here, giving them a facility through which to get paid as well as other banking facilities and services.
It is estimated that around four hundred thousand immigrants have moved over to the UK in the last two years, so these bank accounts could prove extremely popular. Another solution that is being offered for this community comes from Mastercard, which now offers a car facility onto which workers' salaries can be paid, and the card can then be used in the usual way through chip and pin.
However, many are concerned that the new card could involve hidden charges and expenses that would prove costly to users compared to the bank accounts on offer. The range of bank accounts offered by some of these banks means that those moving to the UK can also set up facilities such as direct debits and standing orders, as well as benefiting from debit card facilities.
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