English UK has partnered with mobile banking service Loot to offer international students an easy, free solution to manage their money while studying in the UK.
Over 500,000 international students visit English UK's member centres every year, but for some, opening a UK bank account can be a lengthy and even impossible process. Our members frequently raise the difficulties their students face and report that the process is becoming increasingly challenging.
While the international student market has been largely forgotten by UK banks, despite the value of the sector, a pioneering mobile banking service, Loot, now allows international students to register for a UK sort code and account number in minutes via an app (iOS and Android) or their website. Students then receive a contactless Mastercard card in their name, the ability to make local payments as well as budget during their studies.
Founder and CEO of Loot, Ollie Purdue said: "International students are increasingly underserved by the UK's banks, they often have to wait weeks for an account all the while needing instant access to funds to pay for accommodation or living expenses. Loot will allow them to sign up online in minutes and have a live card and account in just a few days.
"We are very proud to partner with the UK's largest trade association representing international students and look forward to helping their students spend more time learning and less time queuing for an appointment."
English UK's chief executive, Sarah Cooper said, "Our members have been having serious logistical problems in this area so we are very pleased to be able to welcome Loot as a corporate member so that students will be able to access banking facilities with ease."