Finances
Initial funds
You will not be able to open a UK bank account until you have arrived in the UK. If you plan to use your current cash or credit card to withdraw cash from ATMs in the UK, make sure you know how much your bank will charge you for this service.
Alternatively, you may choose to bring British Pounds (sterling) with you. It is best to avoid changing money at the bureau de change at airports and railway stations because of the high commission fees.
Before you get your first payment from the University, you will need to have enough money to pay for your transport, short-term accommodation, food and personal expenses.
Relocation expenses
If you are a new starter moving to York, the University may pay some of your relocation expenses.
Your offer of appointment letter will include the details of any relocation support that you are eligible for. This is typically up to 10% of your gross starting salary (up to a maximum of £8,000). If you're moving from overseas, you can also claim back the cost of a one-way economy air fare for yourself and the family members who are moving with you.
Full details of the qualifying criteria, permissible expenses and process for claiming relocation expenses are available within the relocation policy.
Making claims
To make a claim submit receipts and a claim form to HR Services. You do not have to wait until the end of the relocation process to claim everything in one go; you can put in a number of smaller claims as you progress through your relocation.
Cost of living
There are a number of websites that can help you get a sense of the cost of living in York:
- Cost of Living in York (numbeo.com)
Average prices of more than 40 products and services in York, United Kingdom. Prices of restaurants, food, transportation, utilities and housing are included.
Tools are also available to compare living costs in your current city with living costs in York:
- Cost Of Living Comparison (numbeo.com)
Compare cost of living and its indicators (Cost of Living index, Cost of Living Plus Rent Index, Groceries Index, Restaurants Index, Local Purchasing Power...) for two cities supported by our dataset.
National Insurance
In the UK, National Insurance is a compulsory and automatic deduction from your pay that funds the state-provided pensions, health and other government benefits. National Insurance contributions are paid by employees and employers.
Everyone who works in the UK needs to have a National Insurance (NI) Number which is a unique personal reference number for all your tax/employment affairs.
You should apply for an NI number as soon as you arrive in the UK and begin work at the University. You may have a National Insurance (NI) number printed on the back of your biometric residence permit (BRP). If that is the case then you don’t need to apply for a National Insurance number.
How to apply for a National Insurance number
You can apply for a National Insurance number online. You’ll need to prove your identity when you apply with a document such as a passport or national identity card.
Starting work without a National Insurance number
You can start work at the University without a National Insurance number, providing you are actively applying for one. As soon as you receive your NI number, contact the Payroll Office so they can update your records.
National Insurance payments will be automatically deducted from your pay each month.
- National insurance: how much you pay (gov.uk)
Setting up a UK bank account
You will need to open a UK current account (moneyhelper.org.uk) before you can receive pay from the University.
If you have an account with an international bank, ask if they have the facility to set up a UK bank account for you before you move. This will make things easier for your first couple of months in York and you can then shop around with other banks when you are settled in York.
Tthe majority of banks will not let you open an account before you have arrived in the UK, so you’ll need to arrange to do this in your first couple of weeks in York.
Documentation
Different banks will offer slightly different terms and conditions; however, the documents you are likely to need to open an account are:
- Proof of identity (passport)
- Proof of employment
- HR Services have a standard bank account letter that they can provide. This confirms to the bank that you are an employee of the University of York. To request a letter, contact HR Services.
- Evidence of your previous address overseas (driving licence / utility bills)
- Evidence of your residential address in York
- This can be challenging if you haven't secured long-term accommodation yet. Some banks will accept a temporary residential address.
When you have chosen which bank you would like to use, it is a good idea to call them to book an appointment. Ask them to specify which documents and information they would like you to take to the appointment so that you can be fully prepared.
UK Banks
The major UK Banks all have branches in York City Centre:
The Bank of China is based in Manchester. AlRayan Bank operates accounts in accordance with Sharia principles and is based in London.
Banking in the UK
Most banks are free but some may require a deposit for you to open an account with them. Others charge a monthly fee to maintain your account.
Some banks will offer incentives for new customers. There are also extra features, such as overdraft facilities, that you can opt into.
- How to choose the right bank account (moneyhelper.org.uk)
When you open a bank account you will receive a debit card which you use to withdraw money from a cash machine. You can also use it to pay at most shops by using your PIN (personal identification number). In most places in the UK you can use your card to make contactless payments.
Getting paid
Details of your salary will be listed in your appointment letter.
At the University, salaries are paid on the last working day of the month directly into your bank account.
You can view your payslips using MyView.
Your pay is subject to two compulsory taxes: national insurance contributions and income tax. These will be automatically deducted from your pay each month. A breakdown will be clearly shown on your monthly payslip.
Income tax
As well as National Insurance deductions, you will also have income tax deducted from your monthly pay.
You’ll pay no tax on earnings up to a certain amount - this is known as the “Personal Allowance”. The rest of your income will be taxed by a certain percentage based on which band it falls into.