I am perplexed, or rather fed up with the UK banks.

But recently this little phrase has been creeping into the conditions for opening accounts of a couple of UK offshore banks.

Available for deposits not currently held with Bank of Scotland International Limited or Bank of Scotland plc branches in Jersey or Isle of Man

for example here

http://www.bankofscotland-international.co...bonus-saver.asp

<deleted> do they do this? I cannot understand it at all.

If I wanted to open this account, then surely I could just transfer the money OUT of an old account and then back IN to the next account via an intermediate bank, and then, by magic, it is NEW MONEY.

Can anybody come up with an explanation? Seems like total BS to me.

Haven't a clue mate.

Try posting in the Banking forum, not Bedlam. (Naam won't be back for days)

I only transfer money from my matress to my wallet. If it's from the wifes matress, i have to give 90 days notice