Banks and Money
As an asylum seeker you get an ASPEN card with £49.18/week. You can open an account at Lloyds with ARC. After status — Monzo, no address needed, through the app. Basic Bank Account is free and it is your right.
💳 ASPEN Card — money while you wait
ASPEN is a card from the Home Office. Every week, money for food and things goes on it. It works like a normal bank card — pay in shops and take out cash.
Cash: you can take out up to £300 per week from ATMs (look for LINK — they are free).
🏦 How to open an account with ARC — step by step
Suits Me — online, no proof of address, accepts ARC. But it is a prepaid card (not a full bank).
🎉 After status — open an account straight away
Got refugee status? It is easier now. With your eVisa or passport you can open an account through an app. No address needed.
Open an account RIGHT AWAY — you need it for Universal Credit. Without an account you cannot get benefits.
📊 Which bank to choose
| Bank | ARC | Address | How to open |
|---|---|---|---|
| Lloyds | ✓ | GP letter | In branch |
| Metro Bank | ✓ | GP letter | In branch |
| Suits Me | ✓ | Not needed | Online (prepaid) |
| Monzo ⭐ | ✗ | Not needed | App |
| Starling | ✗ | Not needed | App |
✓ = accepts ARC, ✗ = needs passport/eVisa. Monzo is best after getting status.
⚖️ Basic Bank Account — your right
By law, 9 big banks must open a Basic Bank Account for you. It is free. No credit check. Even if you do not have a passport.
A Basic Account is a normal card. You can pay and take out money. You cannot go into minus (overdraft).
2. Say: "I have a right to a Basic Bank Account"
3. If they still say no — Financial Ombudsman: financial-ombudsman.org.uk
🌍 Sending money home
📈 Credit history — starts from zero
In the UK everyone has a credit score. Yours starts from zero. A good score is needed for renting a flat, phone contracts, and loans.
How to improve it:
✓ Register on the Electoral Roll (even without the right to vote)
✓ Pay bills on time — phone, internet
✓ Get a credit builder card (for example Loqbox)
✓ Rent reporting — report your rent payments (CreditLadder)
🚨 Warning: scammers
✗ Never give your PIN to anyone — not even a "lawyer" or "helper"
✗ Do not believe texts from "Home Office" asking for money
✗ Do not borrow from strangers (loan sharks)
✗ Do not send money to a "lawyer" who promises to speed up your visa
How to check a lawyer: oisc.gov.uk
Been scammed? Call Action Fraud: 0300 123 2040
✨ Useful tips
✓ Only use LINK ATMs for cash — they are free
✓ After getting status you have 28 days of transition — plan your budget
✓ Download your bank's mobile app — easier to track your money
✓ Keep all bank statements — you may need them later
Frequently Asked Questions
Can I open an account with an ARC card?
Yes. Lloyds, Halifax, Bank of Scotland, and Metro Bank accept ARC. You also need a GP letter or a letter from a charity. Suits Me accepts ARC online without proof of address, but it is a prepaid card.
Which bank is best after getting status?
Monzo is the best choice. You can open it through the app in 10 minutes, no address needed, and it is free. Starling is also a good option.
What is a GP letter and how do I get one?
A GP letter is a letter from your doctor on the clinic headed paper with a signature. It confirms your address. It may cost £0-25. If your GP does not do this, ask your charity or support worker for a letter of introduction.
How can I send money home?
Wise is the cheapest (0.5-1.5% fee). Remitly is good for cash pickup. Western Union is expensive but works everywhere. Never transfer money through strangers!
How do I protect myself from scammers?
Never give your PIN to anyone. The Home Office never asks for money by text. Check lawyers at oisc.gov.uk. If you are scammed, call Action Fraud: 0300 123 2040.
What is a Basic Bank Account?
A free account with no credit check. 9 banks in the UK must open one for you by law. If they refuse, ask for the manager, then complain to the Financial Ombudsman.