If you can't print a PDF statement or don't have access to a printer, please contact us. First, in order for us to help you as quickly as possible, we need you to log in to your online banking or mobile app and chat to Cora, please see the steps below:
Your IBAN will look like this: GB15HBUK40127612345678 please note the bank code and sort code will vary according to your account. The below is provided as an example. The IBAN will vary based on your account. Please check the actual IBAN which is specific to your account, this can be found on your statement.
Bank Of Scotland Download Statement
Download File 🔥 https://tinurll.com/2yGaUG 🔥
IBANs can be used for worldwide payments but are most commonly used in Europe. All cross-border euro Priority Payments within the EU or the European Economic Area must quote the BIC and IBAN of the beneficiary. If you don't provide this information, additional fees may be charged back to us, which we will then debit from your account. What's more, any euro payment without a BIC and IBAN can be returned or rejected and a fee charged.
The EU has introduced regulations to align charges for local and cross-border payments within the region. This means that when receiving cross-border euro-denominated payments for EUR50,000 or less, quoting the correct IBAN and BIC, the beneficiary will not incur charges from the receiving bank, over and above those payable locally. Please note, the regulation does not apply to payments made to or from Jersey, Guernsey and the Isle of Man.
You should give your IBAN and BIC to anyone who needs to make payments to you from abroad. Businesses should quote their IBAN and BIC on invoices they issue internationally and look out for IBAN and BIC on invoices received.
Quote the IBAN you're given in the beneficiary account number field of your payment instruction, but don't include any spaces between the characters (they may have been inserted to make it easier to read).
UK bank branches are normally open 09:30 to 17:00, Monday to Friday. All have 24-hour automatic cash machines. To open an account you will have to complete an application and provide the following documents:
Some international students have encountered difficulties when opening a bank account. This is due to an increased security to prevent money laundering (fraud). Bank staff require various documents and will ask many questions. Please do not feel that you are personally under suspicion, however frustrating it may be.
If you require bank statements, such as for visa extension purposes, you should order your statements one month in advance and ensure you have the required funds in your account over a period of 28 days. Banks will not normally issue statements over the counter on request.
I have a question about the cash book and the bank statement. I understand that you debit expenses, assets and drawings and credit liabilities, income and capital (deadclic). I also understand that when money is coming in to the bank account you debit the cash book and when money is coming out of the bank account you credit the cash book (money in Dr and money out Cr). What I find slightly confusing however is that sometimes money in on the bank statement is referred to as 'credit' and money out on the bank statement is referred to as 'debit'. Why is this? Any answers will be greatly appreciated.
It can be confusing which is why some banks now use the header terms "paid in" and "paid out" (instead of the traditional "DR"/ "CR"), and attempt to do away with the words "counter credit", "giro credit", "debit interest" etc.
So from what I understand, if there is money in on the bank statement, the bank owes you money, hence they are a creditor and if there is money out on the bank statement you are a debtor to the bank. But bringing that back to my question, how does that relate to the cash book in the accounting records (you mentioned how it relates to the balance sheet).
The cash book is a schedule of the balance sheet. In the above example, the sum total of transactions in the cash book is 100 (positive). You will have a DR balance in the cashbook and the same debit balance in the balance sheet.
Thank you, yes that definitely makes things clearer now.
If money is received from a customer, that is an income and the money received is an asset, hence the sales account (for which there is income) is credited and the cash book/bank for which money received into is an asset is debited (DEADCLIC).
The bank therefore owes the customer money however to the bank account holder, the bank is a debtor (because it is essentially another business), which why it is debited in the cash book. Although the money received is from the cutomer, when the money is deposited into the bank, the bank owes that money to the customer.
I think what generally happens is that people get confused and think a "bank" is unlike any other "supplier" or "customer" and that, for some reason "normal accounting processes" go out of the window.
In truth, it's the same insofar as... if a customer owes you (DR balance in your Accounts Receiveable ledger), the customer will hold that balance in their accounts as money owed (CR balance in their Accounts Payable ledger) until the debt is paid (when they CR cashbook, DR Accounts Payable and you DR cashbook, CR Accounts Receiveable).
It's human nature to think we "own" part of the bank's cash reserves. However, they are merely acting as custodian for funds you have "lent" them until such time as you wish thrm to pay back that "loan" with interest (although probably not at the moment!)
As the others have said, it's all about the perspective of the person/body issuing the statement or account.
In case a non-accounting analogy helps ... imagine you are approaching the front-door of a house, and want to describe what you are doing to a friend on the 'phone.
Is the door the 'transaction' by which you enter or exit the house?
The answer obviously depends on whether you are standing inside or outside the house, even though the door remains the same door in both circumstances.
DKB has handled this well. When I had a lot of staff I used to run training sessions with the trainee computer programmers about double entry accounting. Because most people first experience the worlds debit and credit in respect of a bank statement this was often the hardest initial thing for people to sort of relearn.
I am referring to a technical point in that the computers store money values as numbers. The computer can then produce the number in a printed form in various formats such as with brackets around negative figures, with commas, with a minus sign. One of the formatting options was to produce CR for credits.
I accept that when reported more subtle system will use brackets for reversals or a negative figure. What I do with my cashbook is to have a negative receipt for a refund of an invoice to a customer and a negative payment for a refund of an expense previously paid by the business. That is good because it then adjusts all the right tax records. We enountered an interesting point with MTD ITSA which is that they rejected a quarterly set of figures with a negative expense (where the expense was in one period and the refund was in a later period). We had to use a workaround for this. Hopefully HMRC will fix this before that many people encounter this.
It really has to be consistent in terms of creating the basic accounting records otherwise the coding of an account will affect whether the TB balances which is dangerous in terms of electronically auditing that the double entries themselves balance.
Around 40 years ago I started training with a firm of accountants and the first thing we did was to go on a bookkeeping course at Financial Training on Bramley Road, which others of a certain age may remember.
Later, we had a small client whose accounting system was designed by an amateur programmer. He started from the premise that his cash book should reflect exactly the bank statements so bank balances were credits and everything was reversed - sales were debits, SL was credits, BL was debits, share capital was debit, etc. He was convinced all accountants were wrong about this.
How you're going to get your money to the UK is an important question for all international students. Having a member of your family transfer your funds to your UK bank account once it's opened is probably the safest method.
Check with your debit/credit card provider if you can use your card in the UK. Otherwise, you'll need to bring enough funds to pay your initial accommodation instalment, and buy food, and general expenses before your UK bank account is set up. This may take two to three weeks.
If you do not wish to open an account but wish to use your home bank account using your debit card, you may be able to use this partner bank to access your home bank account without incurring heavy bank charges.
If your home bank does not have a partner bank in Glasgow, don't worry. There are lots of banks in Glasgow to choose from. You should contact several to find out which one offers you the best service and enquire if they would be able to set up your account remotely in advance of your arrival in Glasgow. Many banks will allow you to open an account online.
Some students also open accounts with online banking providers listed below. Please note that some of these providers may not be able to provide paper bank statements if you require them for other official purposes.
If you do not have sufficient funds in your own bank account, you can still meet the financial requirement by showing that your family member or relatives will financially support you during your stay in the UK.
Providing bank statements that show your monthly salary and financial commitments, is required for a UK Visitor Visa. You need to note that large deposits of cash other than your monthly salary should be excluded from your bank statement. 152ee80cbc
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