Looking For UK Offshore Band Account

[peterpop]

Can I ask the OP : why did Nationwide refuse you a joint account? Did they give a reason?

They refused to open a JOINT ACCOUNT with my Thai wife. I provided lawyer certified ID but they would not proceed. That was for my UK account already in existance. The OFFSHORE situation was just too expensive.

I think you will find Nationwide Onshore didnt want to open the account because you/she are not UK resident. They should have just directed you to Nationwide Offshore who would normally open the account without difficulty and who, as mentioned, only have a GBP1 minimum balance for the instant access account. This would also allow you to use their internet banking to switch balances to accounts paying higher interest rates, as suitable.

Otherwise there are several onshore UK banks that will accept non-resident customers. Not least the Indian banks as you mentioned, and not all of them have high minimum balance requirements.

Yes you are correct. I am now in the process of trying to open an ''Instant Access'' account with Nationwide. I have applied online and await their response but it looks promising in that

NO Monthly charges

No minimum deposit

BACS AND iNTERNET SERVICE

That is all I want

[KittenKong]

Yes you are correct. I am now in the process of trying to open an ''Instant Access'' account with Nationwide. I have applied online and await their response but it looks promising in that

NO Monthly charges

No minimum deposit

BACS AND iNTERNET SERVICE

That is all I want

Be aware that this account only allows withdrawals to one nominated UK bank account in the BACS system, though you can change this account from time to time by post if you like. This is probably both for security and to prevent money-laundering.

So it's not suitable for paying UK bills etc.

Incoming BACS transfers are not a problem though they may want to know who is initiating them and why.

[partington]

Yes you are correct. I am now in the process of trying to open an ''Instant Access'' account with Nationwide. I have applied online and await their response but it looks promising in that

NO Monthly charges

No minimum deposit

BACS AND iNTERNET SERVICE

That is all I want

Be aware that this account only allows withdrawals to one nominated UK bank account in the BACS system, though you can change this account from time to time by post if you like. This is probably both for security and to prevent money-laundering.

So it's not suitable for paying UK bills etc.

Incoming BACS transfers are not a problem though they may want to know who is initiating them and why.

This is NOT the case quite definitely. I checked this carefully before sending my application, because being able to pay third parties in the UK is an essential function for me.

You must sign up for telebanking on the application form, or you can do it after the account is opened. This not only allows you to pay into third parties' bank accounts in the UK by phone, but also will allow you to do it online once they receive your list of designated payees.

They have a form that allows you to designate any number of payees, and this can include your own accounts in foreign banks, or third parties.

You will see this form has many spaces to enter these details.

Here is the link to the form http://www.nationwideinternational.com/documents/telebanking_tc.pdf

and here is the relevant section of the general terms and conditions of the Nationwide International account website: http://www.nationwideinternational.com/home_files/terms_conditions.htm#instant

"There is no limit to the number of bank accounts or payees you can designate. Additional forms are available upon request. However, for security reasons, there can be no deviation from the list of designated account/payees when requesting a withdrawal or closure by fax, telephone or Internet Banking. Any subsequent amendments to your list of designated accounts must be given in writing and signed in accordance with your signing mandate."

[regedit]

They have a form that allows you to designate any number of payees, and this can include your own accounts in foreign banks, or third parties.

You will see this form has many spaces to enter these details.

Agree - you can have as many payees as you like.

[KittenKong]

"There is no limit to the number of bank accounts or payees you can designate. Additional forms are available upon request. However, for security reasons, there can be no deviation from the list of designated account/payees when requesting a withdrawal or closure by fax, telephone or Internet Banking. Any subsequent amendments to your list of designated accounts must be given in writing and signed in accordance with your signing mandate."

Ah. That would appear to be a change from how it worked when I opened mine some years ago. Good to know. Personally I've never needed the outgoing payment facility as I just use my main onshore bank account for that. Payees can be set up entirely on line on that account, of course.

[yoshiwara]

Earlier this year I opened an account with BCEE (Banque et Caisse D'Epargne de L'Etat Luxembourg) in Luxembourg and the requirements were, contract of employment, plus you had to show your registration card from their equivalent of the town hall.

How you would go about doing this whilst not being there I'm not so sure. They do have many private banks there but you will need 500K Euro to open a basic account.

You have to go there. No way around it.

[Orac]

Had a useful reply from Standard Bank this morning regarding proof of address in Thailand - I sent them copies of my Thai Driving Licence and a Bank Statement from SCB printed in the branch with a stamp put on it to see if they would do.

They have said that they are not acceptable in their current form as they are unable to read or translate the address but will accept them if I have them professionally translated and certified. Interestingly they have also said they will accept some form of rental agreement or a credit card statement if the address is shown in english along with a certified copy of my passport.

[davee58]

Alliance and Leicester International (iom) was recently changed to be the IOM branch of Santander :

Seemingly business is as before with interest paid gross for expats.

http://www.santander.co.im/

CoOp offshore is the parent for Britannia International, this is more for offshore savings.

http://www.britanniainternational.com/

I think that CoOp also has a Guernsey branch???

I hate opening a new account due to all the regulatory requirements, and proof of where the savings are from.