How to open a bank account in Jersey for British non-residents

Looking for the familiarity of a UK bank, but with more tax advantages? Jersey might be the place for you.

This tiny island in the English Channel is a British Crown Dependency and a long-time hub for offshore banking. Taxes work differently than in the UK. In Jersey, there’s no capital gains tax, no inheritance or wealth taxes and no withholding tax.

At the same time, many of the UK’s top banks have a presence on the island, and the place is closely tied to London’s financial system. Jersey also has a Depositor Compensation Scheme (DCS) that protects up to £50,000 GBP per person, per bank, if a Jersey bank fails. That makes the island attractive to international clients and to British expats in particular.

If you’re curious, read on. We’ll go over the steps to open an account in Jersey, as well as the types of accounts available to expats, the fees you should expect, and more.

We’ll also show you an alternative from the money services provider Wise - the Wise account. It’s not a bank account but offers some similar features, and your money is safeguarded.

Over 14.8 million people worldwide use Wise to send, spend and convert money in pounds and 40+ more currencies – for low, transparent fees* and no-markup exchange rates close to what you can see on Google. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

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How to open a bank account in Jersey as a non-resident

Non-residents are welcome to open bank accounts in Jersey, and some of these can be set up completely online, without ever setting foot on the island. However, unless you actually live in Jersey, you’ll generally only be able to access private banking or higher-tier “premier” or “select” accounts, not a standard current account.

This is true even at familiar retailer names like Barclays, HSBC, Lloyds and NatWest. Those banks operate in Jersey, but their basic current accounts are typically limited to local residents. Non-residents get steered toward higher-tier services.

These more expensive accounts typically require you to bank a hefty minimum opening deposit of £25,000 to £100,000 GBP or pay in a salary of £40,000 or more.¹ In exchange you get high-end retail banking services, with perks like multi-currency access and global transfers.

If you have more to bank, you can opt for private banking. The minimum opening deposits for these accounts are typically £1 million or more.²

Lastly, keep in mind some bank accounts have additional citizenship or residency restrictions, usually for regulatory reasons.¹ UK citizens typically aren’t affected by these because Jersey banks actively serve the British market, but it’s something to keep in mind if you have ties to other countries.

Do you need a bank account in Jersey?

If you live or work in Jersey, or are planning to do either, a local bank account will come in handy. You’ll need one to pay rent and day-to-day expenses, as well as get paid yourself from your Jersey employer. Trying to do those things with an international bank account can create unnecessary hassles and run up fees.

Of course, if you don’t live in Jersey, there’s no need to open a bank account there unless you’d like to take advantage of the island’s offshore or international banking services.

Can you use your UK bank account in Jersey?

For short visits to Jersey, your UK bank account will typically be enough to do the things you need to get done as a visitor. You’ll be able to use it to withdraw money from ATMs or pay for goods and services, just like in other countries. As you would in a foreign country, you should pay attention to extra fees or exchange rate markups your bank may charge.

But if you plan to stay in Jersey as a resident, you’ll likely want to open a Jersey bank account. This is true even if you have a UK account with a bank that also operates in Jersey. While Jersey is a Crown Dependency and uses the pound sterling, it’s not part of the UK and its banking system is distinct. A Jersey branch can’t access details of your UK account, and vice versa.³

Can you open a bank account in Jersey as a British expat?

As a British expat, you can open a bank account in Jersey so long as you meet the specific account’s qualifications. Opening an everyday current and savings account is an easy option if you’re a resident of Jersey, for example.

If you’re not a resident, as we went over earlier, you’ll need to put up the money for a higher-level account, typically with a significant minimum balance, regular deposit requirements or some combination of the two.

Can you open an account as an international student?

It should be fairly easy to open a bank account, including a basic current account, as an international student living in Jersey. You’ll just need to show proof of legal local residency, either with student housing or local registration documents.

What documents do you need to open a bank account in Jersey?

If you’re a Jersey resident, the documents you’ll need to open your bank account will be similar to the ones you would need for UK banks. Basically, you’ll need to show proof of your identity and your address with one or more of the following:⁴

Proof of identity

• Valid passport
• National identity card
• Driving licence

Proof of address

• Utility bill
• Tax bill
• Bank or credit card statement
• Mortgage statement
• Letter from a government agency
• Letter from an employer

If you’re not a Jersey resident and are opening a premium or private banking account, you’ll need to show documents that prove you meet the financial profile for these higher-tier services. Your bank may ask to see employment contracts and salary slips, or company ownership documents if that’s where your income comes from.

Your bank may also ask for proof of origin that shows your funds came from a legitimate source. This is for regulatory compliance: Banks are required to check the money you’re depositing isn’t related to fraud, crime or sanctions evasion.

Best bank accounts in Jersey for expats

The best bank account for you will depend a lot on what services you need. Local residents will likely want a current account for everyday use, while high net worth individuals a private banking option. But to get you started, here are 4 banks popular with expats to consider:

HSBC Expat

Part of the HSBC Group, HSBC Expat is designed for people who move between countries or need to manage money across multiple currencies and jurisdictions. You can choose from two different tiers of service. The lower end one is the Premier account which requires a £75,000 balance or a £120,000 annual salary. Your other option is Private Banking, reserved for million-plus customers. HSBC Expat also has a tier called Advance, but this product’s no longer open to new customers. All accounts are based in Jersey and support multiple currencies.⁵

NatWest International

NatWest has had a presence in the Channel Islands since back in the 19th century. Today, the closest thing to an everyday account that NatWest International offers is an International Select account that gives you fee-free international transfers. To open this, you need to make a £25,000 deposit or have an annual salary of £40,000 or more. NatWest also offers a cash management account that supports multiple currencies with the same opening requirements. For those with more substantial wealth, there’s NatWest’s private banking brand, Coutts Crown Dependencies.⁶

Standard Chartered Jersey

Standard Chartered Jersey offers a current account for expats,⁷ but it’s not the basic day-to-day option that you might be used to. These accounts sit within the bank’s Priority service and require a minimum opening balance of $100,000 USD (about £74,100 GBP) or a clear plan to get to that level within 6 months. If you’ve got significantly more money to invest, Standard Chartered also offers a Private service level.⁸

Barclays International

With branches and subsidiaries around the world, Barclays International has a big global footprint and strong links to London’s financial system. To qualify for a Barclays International account, you’ll need to maintain at least £100,000 in deposits or investments or prove your regular income is at that level. At the £250,000 level, the bank pairs you with a personal relationship manager.⁹

What are the banking fees and costs in Jersey?

Opening and maintaining a bank account in Jersey can be free for an expat resident who opens a current account, or run into tens of thousands of pounds for an international investor with a private banking account. The fee range is wide, but the following chart should give you some general ideas of what to expect:⁵ ¹⁰

Is there a free bank account in Jersey for non-residents?

It depends on what you mean by “free.” If you mean bank accounts that don’t charge monthly maintenance fees, then yes: some international or offshore accounts claim not to charge that fee.

The catch is that if you fail to maintain a six-figure minimum or other eligibility criteria, these accounts will often charge you a monthly fee by another name, such as an underfunding fee or relationship maintenance fee.⁵

Keep in mind that even if you do avoid the maintenance fee, there will likely be a number of other costs associated with your account, like transaction fees, currency conversion markups or inactivity penalties.

Wise – an international alternative to a bank account

Whether or not you open a bank account in Jersey, a Wise account might help take care of your international money matters. It's not a bank account but offers some similar features and your money is safeguarded.

It covers most everyday transaction needs and you can also use it to convert currencies or send money to and from the UK and many other countries.

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Sources used:

Sources last checked 28-Sep-2025