How to open a UK bank account for non-residents in South Asia
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Learn how businesses in Pakistan, Bangladesh and India can access GBP account details, receive UK payments and compare traditional and digital account options as non-residents.
Key takeaways
- Traditional UK bank accounts for non-residents often require UK residency, local proof of address or an in-person application
- Multi-currency accounts let South Asian businesses to set up GBP local currency accounts online, without long onboarding
- Fees vary significantly between providers, especially for FX conversion and international transfers
- WorldFirst is an international payments provider offering virtual GBP local currency accounts for businesses in South Asia
Opening a UK bank account for non-residents has traditionally been difficult for businesses in South Asia due to UK address requirements, in-person verification and local director rules.
But now many businesses in South Asia use digital business bank accounts for non-residents or multi-currency business accounts instead. These solutions offer local GBP account details that allow businesses to receive, hold and send GBP without needing to open a traditional UK bank account. This guide explains the challenges, required documents and the steps to open a GBP account for non-residents in India, Bangladesh, and Pakistan.
Why do businesses in South Asia need access to a UK bank account?
Businesses across Pakistan, Bangladesh and India increasingly work with UK clients, suppliers and marketplaces. Many receive payments in GBP but do not have a practical way to collect GBP locally, which can create operational and cost challenges.
Common issues include:
- Expensive SWIFT transfer fees
- Losing margin on repeated currency conversions
- Forced GBP-to-local-currency conversion on arrival
- Delays in receiving international payments
- Poor exchange rates from traditional banks
Setting up a GBP account can allow South Asian businesses to receive funds in GBP and hold them until they are ready to convert at competitive exchange rates. The collected funds can also be used to make subsequent payments without requiring double conversions.
Common challenges when opening a UK bank account as a non-resident
Proof of UK address
Many UK banks require utility bills, tenancy agreements or other local proof-of-address documents before opening an account. Non-resident founders operating remotely often cannot meet these requirements.
High minimum balances and income thresholds
International and expat banking products sometimes require high opening deposits or minimum annual income thresholds. These conditions can make accounts impractical for startups and smaller exporters.
Director residency and company registration rules
Some UK business banks only accept applications from UK-registered businesses with resident directors. This creates challenges for overseas-owned companies.
Automatic currency conversion and hidden FX costs
Businesses receiving GBP into local bank accounts may face forced conversions at unfavourable rates. Additional intermediary bank fees can further reduce the final amount received.
Slow onboarding and approval timelines
Traditional banks may take several weeks to process non-resident applications due to enhanced compliance checks and documentation reviews.
Top GBP business accounts for non-residents in South Asia
GBP business accounts can be traditional bank accounts or virtual local currency offered by payment providers.
1. WorldFirst
WorldFirst is an international payments provider that offers the World Account, a multi-currency account which allows businesses to setup local currency accounts in 15+ currencies including GBP, USD, EUR, and more.
Businesses in South Asia can receive, hold and convert money in 15+ currencies, collect payments from 130+ marketplaces and payment gateways, and send payments in 100+ currencies across 200+ countries and regions.
Businesses can also issue Mastercard-powered virtual business payment cards, with up to 20 cards available at no cost for eligible businesses in South Asia.
Pricing: Zero monthly/account set-up fee
2. Payoneer
Payoneer is a digital payments provider offering individual and business accounts.1 Businesses in India, Pakistan and Bangladesh can send and receive multiple currencies, collect from marketplaces and freelance platforms, and send payments globally.2
But businesses in South Asia cannot hold funds in their account. Users from India, Pakistan and Bangladesh can also access a business card, which is tied to a single currency at an annual fee of US$29.95.3
Pricing: Zero monthly/account set-up fee4
3. RazorPay multi-currency account
Razorpay’s MoneySaver Export Account allows Indian businesses to open a virtual multi-currency account to receive USD, GBP and EUR and more for international bank transfers.5
Businesses can accept overseas payments through multiple modes, share payment links, and receive INR settlements in local bank accounts.5 Indian businesses cannot send or hold the foreign funds in their account.
Pricing: Zero monthly/account set-up fee but 1% fee levied on receiving international transfer5
4. nSave
nSave offers Bangladeshi freelancers and remote workers a digital GBP account with a UK sort code and account number for receiving payments from UK clients and platforms.6 Users can receive GBP transfers, exchange currencies within the app, spend globally with a virtual Mastercard, and withdraw funds to Bangladeshi bank accounts or bKash.6
Sending/holding funds in this account comes with restrictions. For example, eligible IT and service exporters can usually keep around 60–70% of their foreign currency earnings in GBP within the account.6
Pricing: Zero monthly fee but a one-time account set-up fee of US$10 is applicable7
GBP bank accounts for non-residents
5. SBI Namaste UK account
SBI UK’s Namaste UK Account account includes online and mobile banking, debit card access, free UK ATM withdrawals and transfers to India.8 Users must maintain the required average monthly balance to avoid a £5 monthly fee.9
But the account requires Indian customers to have a valid UK visa of more than 6 months, which may not work with founders that are located in India only.8
Pricing: Zero monthly/account set-up fee9
6. HSBC Expat account
HSBC Expat provides multi-currency international banking services, including GBP account access and UK-compatible banking details.10 The account supports up to 18 currencies alongside online banking and international transfers between eligible HSBC accounts.10
While it can technically support international businesses and freelancers receiving GBP payments, the eligibility requirements are more complex for SMEs and independent professionals in South Asia. Users must either maintain £75,000 (or equivalent) in savings or investments with HSBC Expat, or receive at least £120,000 in annual salary credits into the account.11
Pricing: Zero monthly/account set-up fee11
7. ICICI UK Personal Current Account
ICICI Bank UK’s Hello UK Personal Current Account in India allows users to open a GBP account digitally before arriving in the UK.12However, this is mainly a relocation-focused account rather than a remote GBP payment solution for freelancers and businesses operating from South Asia.
Pricing: Zero monthly/account set-up fee13
8. Standard Chartered Foreign Currency Current Account
Standard Chartered Foreign Currency Current Account in Pakistan and Bangladesh allows customers to receive funds in multiple foreign currencies, including GBP, USD and EUR.14 The account offers online and mobile banking access.14
Minimum balance requirements apply (=US$/GB£/EU€2,000), with withdrawals available through cheques only.14
Pricing: Zero monthly/account set-up fee14
9. EBL Global Account
EBL’s Global Account is a foreign currency current account available in USD, GBP and EUR for eligible Bangladeshi residents and non-resident Bangladeshis.15 The account supports foreign currency deposits, overseas payments, internet banking and a Global VISA debit card.15
It may not be a practical option for freelancers and businesses in South Asia looking to receive GBP payments remotely, because eligibility is limited to Bangladeshi passport holders living abroad for at least 6 months with a valid work permit or resident visa.15
Pricing: No account set-up fee specified but current account maintenance fee of BDT 300+VAT half yearly applicable16
10. BRAC Bank Resident Foreign Currency Deposit (RFCD)
BRAC Bank’s RFCD account is a Bangladesh-based foreign currency account available in GBP, USD and EUR.17 The account supports foreign currency deposits, overseas remittances, internet banking and debit card access.17
Pricing: Zero monthly/account set-up fee17
How to open a GBP account with WorldFirst as a non-resident
Step 1: Register online
Visit WorldFirst’s registration portal and provide the company name, registration number, business address and industry details. A home-country address is accepted.
Step 2: Submit documents
Upload identification documents for directors or owners, proof of address and company registration documents. Any owners holding 25% or more must also be disclosed.
Step 3: Complete verification
WorldFirst reviews the application and usually completes verification within 24–48 hours.
Step 4: Activate GBP account details
After approval, log in to the World Account and create a GBP currency account. UK sort code and account number details are generated instantly.
Step 5: Start transacting
Businesses can begin receiving GBP from UK clients and marketplaces while managing (sending/holding) international payments from a single World Account.
FAQ
Can a non-UK resident open a bank account in the UK?
Yes, but eligibility depends on the provider. Some banks allow non-UK residents to open bank accounts in the UK but most traditional banks require UK residency or proof of address. However, there are now many payment providers offering GBP account details without requiring local residency.
What documents do I need to open a UK bank account as a non-resident?
Most providers request photo identification, proof of address and company registration documents. Some banks may also require proof of income or UK company documentation.
Can businesses in Pakistan, Bangladesh and India open a UK bank account online?
Some providers support fully online onboarding for businesses in South Asia. Traditional banks may still require in-person verification or additional compliance checks.
Is a UK business bank account the same as a multi-currency business account?
No. A traditional bank account is offered by a licensed bank, while a multi-currency account from a payments provider may offer local GBP account details without being a bank account itself.
What are the fees for receiving GBP as a non-resident?
Fees vary depending on the provider and payment method. Some providers charge zero receiving fees, while others apply transaction fees, FX markups or intermediary banking costs.
Sources:
- payoneer.com
- https://www.payoneer.com/en-in/
- https://www.payoneer.com/resources/country-guides/payoneer-fees-optimizing-transfer-costs-for-businesses/
- payoneer.com/about/pricing/
- https://razorpay.com/accept-international-payments/bank-transfers/
- https://www.nsave.com/bangladesh/gbp-account
- https://www.nsave.com/pricing-business
- https://sbiuk.statebank/namaste-uk-account
- https://sbiuk.statebank/tariff-of-charges?inheritRedirect=true
- https://www.expat.hsbc.com/international-banking/non-resident-bank-accounts/
- https://www.expat.hsbc.com/help/account-opening-faqs/
- https://www.icicibank.co.uk/personal/nri-services/hello-uk-hvca
- https://www.icici.bank.in/nri-banking/global-banking/hello-uk/hello-uk-faqs
- https://www.sc.com/pk/save/foreign-currency-account/
- http://ebl.com.bd/retail-deposit/ebl-global
- https://www.ebl.com.bd/assets/home/schedule/SME-SOC-EFF-01-Jan-2026.pdf
- https://bracbank.com/en/retail/accounts/resident-foreign-currency-deposit-rfcd-account
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
Hu Wenzhan is the Emerging Markets Country Manager at WorldFirst. He brings expertise across Fintech, Payments, Banking, New Markets Growth to help clients grow their global business.
Hu Wenzhan
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