Best UK bank accounts for expats?

[nemo38]

HSBC sent me a letter saying that they are closing my account for "business reasons" (too much of a small fry). I need to receive payments from the UK, so a UK bank account is very handy.

The British Banking association lists three banks which are willing to open accounts for non-residents

1. Lloyds
2. HSBC
3. Barclays

Is that really all there is? HSBC are out, I checked Lloyds and they won't open an account for someone in the country I live in (I live outside Thailand, but I found advice here very useful in the past). Barclays want a 50K GBP deposit, which is tricky. I don't actually know if they would take customers where I live anyway.

Is there anyone else, and how do you rate them? HSBC were very good because they gave me exceptional exchange rates (after all fees). They were way better than the rates I got for my business at the local HSBC.

[socrates28]

Barclays were opening accounts for British Citizens caught up in the Bank Collapse in Cyprus - there was no requirement for £50k balance - perhaps look into matters a bit further

Also Lloyds has split with TSB and apparently TSB offer exactly the same products so they may be another avenue to look at

[meatboy]

your goner find it difficult to open an account in the uk.if your a non-resident.i tried to move a large sum from one bank to another but in the end i gave up.even tried to move it to an offshore bank via thailand it was refused saying we dont take amounts deposited from thailand.so in the end i stayed with my old bank as they knew who i was.if its a trivial amount and you dont need it have it transfered by them once a yr.

[Patronus]

For Brits, residing in Thailand, I would always recommend retaining a UK bank account and a UK correspondence address if there is any likelihood of needing to receive/remit Sterling funds.

Trying to open one as a "non-resident" is nigh on impossible,

[nemo38]

It sounds like the people who have tried this have had the same experience as me.

I do have a fallback option. I have a couple of current accounts with a bank I've been with since 1991. I just use their credit card at the moment, but they didn't hesitate when I said that I'd like to start using the current accounts again, and would they send me cards for them. Their daily ATM allowance is small, but when added together it is OK.

The only thing is that most "non premiere" bank accounts cost you more in transaction charges e.g. 2% on ATM withdrawls vs 1.5%.

But having a bank account is better than being stranded. I also have a Charles Schwab account. They are brilliant, but there doesn't seem to be any way to get my paypal USD into that account, which makes it tough to fund.

[Patronus]

It sounds like the people who have tried this have had the same experience as me.

I do have a fallback option. I have a couple of current accounts with a bank I've been with since 1991. I just use their credit card at the moment, but they didn't hesitate when I said that I'd like to start using the current accounts again, and would they send me cards for them. Their daily ATM allowance is small, but when added together it is OK.

The only thing is that most "non premiere" bank accounts cost you more in transaction charges e.g. 2% on ATM withdrawls vs 1.5%.

But having a bank account is better than being stranded. I also have a Charles Schwab account. They are brilliant, but there doesn't seem to be any way to get my paypal USD into that account, which makes it tough to fund.

Don't use overseas banks for ATM withdrawals in Thailand if you can avoid it.

If you are talking peanuts, OK, but if a regular stream of Baht is required get a Thai bank account and fund from the UK (?) - many economical choices of doing that but I prefer online control and using someone like Halifax at £9.50 a go.

[i claudius]

It sounds like the people who have tried this have had the same experience as me.

I do have a fallback option. I have a couple of current accounts with a bank I've been with since 1991. I just use their credit card at the moment, but they didn't hesitate when I said that I'd like to start using the current accounts again, and would they send me cards for them. Their daily ATM allowance is small, but when added together it is OK.

The only thing is that most "non premiere" bank accounts cost you more in transaction charges e.g. 2% on ATM withdrawls vs 1.5%.

But having a bank account is better than being stranded. I also have a Charles Schwab account. They are brilliant, but there doesn't seem to be any way to get my paypal USD into that account, which makes it tough to fund.

Don't use overseas banks for ATM withdrawals in Thailand if you can avoid it.

If you are talking peanuts, OK, but if a regular stream of Baht is required get a Thai bank account and fund from the UK (?) - many economical choices of doing that but I prefer online control and using someone like Halifax at £9.50 a go.

Get a metro bank account ,no charge using your card abroad ,use an Aeon machine ,no charge and get a good tt rate ,NO CHARGES AT ALL ,i have tried every way to transfer money and this is the best

[Patronus]

It sounds like the people who have tried this have had the same experience as me.

I do have a fallback option. I have a couple of current accounts with a bank I've been with since 1991. I just use their credit card at the moment, but they didn't hesitate when I said that I'd like to start using the current accounts again, and would they send me cards for them. Their daily ATM allowance is small, but when added together it is OK.

The only thing is that most "non premiere" bank accounts cost you more in transaction charges e.g. 2% on ATM withdrawls vs 1.5%.

But having a bank account is better than being stranded. I also have a Charles Schwab account. They are brilliant, but there doesn't seem to be any way to get my paypal USD into that account, which makes it tough to fund.

Don't use overseas banks for ATM withdrawals in Thailand if you can avoid it.

If you are talking peanuts, OK, but if a regular stream of Baht is required get a Thai bank account and fund from the UK (?) - many economical choices of doing that but I prefer online control and using someone like Halifax at £9.50 a go.

Get a metro bank account ,no charge using your card abroad ,use an Aeon machine ,no charge and get a good tt rate ,NO CHARGES AT ALL ,i have tried every way to transfer money and this is the best

This is great advice but you would need to open the account whilst still in the UK.

[KittenKong]

Trying to open one as a "non-resident" is nigh on impossible,

Not so. Several onshore UK banks will accept non-resident customers, and of course all the offshore branches will. UK offshore banks are usually part of the BACS system and so allow for sending/receiving money via BACS etc. so there is little practical difference in that respect.

[NoshowJones]

It sounds like the people who have tried this have had the same experience as me.

I do have a fallback option. I have a couple of current accounts with a bank I've been with since 1991. I just use their credit card at the moment, but they didn't hesitate when I said that I'd like to start using the current accounts again, and would they send me cards for them. Their daily ATM allowance is small, but when added together it is OK.

The only thing is that most "non premiere" bank accounts cost you more in transaction charges e.g. 2% on ATM withdrawls vs 1.5%.

But having a bank account is better than being stranded. I also have a Charles Schwab account. They are brilliant, but there doesn't seem to be any way to get my paypal USD into that account, which makes it tough to fund.

Don't use overseas banks for ATM withdrawals in Thailand if you can avoid it.

If you are talking peanuts, OK, but if a regular stream of Baht is required get a Thai bank account and fund from the UK (?) - many economical choices of doing that but I prefer online control and using someone like Halifax at £9.50 a go.

Get a metro bank account ,no charge using your card abroad ,use an Aeon machine ,no charge and get a good tt rate ,NO CHARGES AT ALL ,i have tried every way to transfer money and this is the best

This is great advice but you would need to open the account whilst still in the UK.

Does Metrobank send your new debit card to your Thailand address when the old one runs out?

[ghworker2010]

I highly rate 'cater allen private bank'. there are no branches and everything is done on the telephone. if you want to send money from uk overseas you call them (after setting up an authority) or fax them. if you want to post them a cheque just put it in the mail. http://www.caterallen.co.uk/

[PETERTHEEATER]

HSBC closed the accounts that I had with them for nearly 59 years and with no notice. That was early last year so I was left firefighting to open a new offshore account especially problems of verifying ID from here. Eventually I was taken on by COOP BANK Guensey who have very good customer service. They have just written to me stating that they are closing their Guernsey branch by early next year so now I am faced with trying to get another bank!

[Patronus]

Trying to open one as a "non-resident" is nigh on impossible,

Not so. Several onshore UK banks will accept non-resident customers, and of course all the offshore branches will. UK offshore banks are usually part of the BACS system and so allow for sending/receiving money via BACS etc. so there is little practical difference in that respect.

Would you like to give me evidence of ANY bank that will open an account for a non-resident living in Thailand.

Please supply the exact procedures required to successfully accomplish this task from my home in Thailand.

I agree about the BACS system etc for offshore banks, I will need to research their procedures.

[KittenKong]

Would you like to give me evidence of ANY bank that will open an account for a non-resident living in Thailand.

Sure. Nearly all the Indian banks will, for a start. Their websites have full details. http://www.bankofbarodauk.com/retail-banking/deposit-products/savings-accounts/ will get you going.

There are also several other non-Indian banks which will take on non-resident customers. Their websites make it pretty clear though you may have to read the small print.

Please supply the exact procedures required to successfully accomplish this task from my home in Thailand.

Pretty straightforward. Download an application form. Get copies of your ID certified in the way the bank wants (usually by another bank or a lawyer or a consulate). Forward the form and said copies along with proof of address as required. Suitable proof of address is generally a bank statement (in English), or a letter from a UK government agency (HMRC etc), or a utility bill (in English). Generally one certified passport copy and one original proof of address will do, though some banks may want two of each.

That's how I did it anyway. I don't suppose it will have changed much in two years.

[VBF]

I highly rate 'cater allen private bank'. there are no branches and everything is done on the telephone. if you want to send money from uk overseas you call them (after setting up an authority) or fax them. if you want to post them a cheque just put it in the mail. http://www.caterallen.co.uk/

Cater Allen is actually part of Santander so you could also try Santander in Jersey http://www.santanderpb.je/

[meatboy]

Would you like to give me evidence of ANY bank that will open an account for a non-resident living in Thailand.

Sure. Nearly all the Indian banks will, for a start. Their websites have full details. http://www.bankofbarodauk.com/retail-banking/deposit-products/savings-accounts/ will get you going.

There are also several other non-Indian banks which will take on non-resident customers. Their websites make it pretty clear though you may have to read the small print.

Please supply the exact procedures required to successfully accomplish this task from my home in Thailand.

Pretty straightforward. Download an application form. Get copies of your ID certified in the way the bank wants (usually by another bank or a lawyer or a consulate). Forward the form and said copies along with proof of address as required. Suitable proof of address is generally a bank statement (in English), or a letter from a UK government agency (HMRC etc), or a utility bill (in English). Generally one certified passport copy and one original proof of address will do, though some banks may want two of each.

That's how I did it anyway. I don't suppose it will have changed much in two years.

indian banks sorry not wanting.

[KittenKong]

indian banks sorry not wanting.

Well, if you are going to be picky you are going to find it more difficult but still possible.

Personally I see nothing wrong with the Indian banks as they are still covered by the UK FSCS protection up to GBP85K.

[meatboy]

indian banks sorry not wanting.

Well, if you are going to be picky you are going to find it more difficult but still possible.

Personally I see nothing wrong with the Indian banks as they are still covered by the UK FSCS protection up to GBP85K.

the bank of punjab to open a uk.account you must have a uk address,and they want proof,eg.council tax payments,gas or electric bill in your name.also a reference from a uk.bank.i know i gave up trying expecially trying to open a fixed saving acc.even the bank that i had savings in before i moved didnt want to know.anyway have you looked at what interest uk.banks are offering,

best 1yr.2.03% 5yr. 3.05%.

the op.needs to get a cat phonenet card.i just got a new one 300bht.gives him 3hrs.6mins of calling time to the uk.

[easybullet3]

METRO BANK in the UK is the best.

I just joined it on my recent holiday there.

they dont need as much paper-work as the other banks,, PLUS they do FREE ATM WITHDRAWALS OVERSEAS (world-wide)

[socrates28]

METRO BANK in the UK is the best.

I just joined it on my recent holiday there.

they dont need as much paper-work as the other banks,, PLUS they do FREE ATM WITHDRAWALS OVERSEAS (world-wide)

But he is non-resident

[socrates28]

Trying to open one as a "non-resident" is nigh on impossible,

Not so. Several onshore UK banks will accept non-resident customers, and of course all the offshore branches will. UK offshore banks are usually part of the BACS system and so allow for sending/receiving money via BACS etc. so there is little practical difference in that respect.

You have mentioned this a couple of times but not provided any examples other than the Indian Banks

Care to elaborate?

[edwardandtubs]

I don't know why people are raving about Metro Bank - clearly you need a permanent UK address to open an account. Why not go with Nationwide International or one of the other offshore UK banks?

[pontious]

HSBC have no UK resident status requirement.

Cannot find any others. ( apart from Indian Banks)

PS, Metro Bank is UK residents only.

Edited September 22, 2013 by pontious

[socrates28]

HSBC have no UK resident status requirement.

Cannot find any others. ( apart from Indian Banks)

PS, Metro Bank is UK residents only.

Did you read the first post?

[KittenKong]

the bank of punjab to open a uk.account you must have a uk address,and they want proof,eg.council tax payments,gas or electric bill in your name.also a reference from a uk.bank.i know i gave up trying ...

I opened one a year or so back without any difficulty or UK bills or references. Maybe the size of my deposit made them look on me in a slightly better light.

At that time interest rates on 5-year TDs were just under 5%, so I'm happy.

[KittenKong]

You have mentioned this a couple of times but not provided any examples other than the Indian Banks

Care to elaborate?

I dont think so, sorry. As with most good things, once too many people get to know about them they usually turn to crap.

Suffice it to say that I found 4 large(ish) onshore UK banks that would accept me as a non-resident depositor within about 1 hour of searching on the internet and anyone else with a minimum of patience could do the same. I just started at the top of the list and worked downwards. As it happens 3 of them were in the "top 10" of interest rates for term deposits at that time, so I was rather pleased.

[Patronus]

the bank of punjab to open a uk.account you must have a uk address,and they want proof,eg.council tax payments,gas or electric bill in your name.also a reference from a uk.bank.i know i gave up trying ...

I opened one a year or so back without any difficulty or UK bills or references. Maybe the size of my deposit made them look on me in a slightly better light.

At that time interest rates on 5-year TDs were just under 5%, so I'm happy.

Amazing how some people still manage to turn the most innocuous threads into a pissing contest !

[KittenKong]

Amazing how some people still manage to turn the most innocuous threads into a pissing contest !

The only really amazing thing is how some people post only to criticise others. They just have no sensible contribution to make, I suppose.

[super22k]

This worries me. I have had an account with HSBC for 30 years without any problems.I live in Thailand and have my UK pensions paid into it which I withdraw from ATM machines. At present I have about 8k GBP in the account. Does this mean HSBC can close down my account at any time and leave me stranded?

[socrates28]

the bank of punjab to open a uk.account you must have a uk address,and they want proof,eg.council tax payments,gas or electric bill in your name.also a reference from a uk.bank.i know i gave up trying ...

I opened one a year or so back without any difficulty or UK bills or references. Maybe the size of my deposit made them look on me in a slightly better light.

At that time interest rates on 5-year TDs were just under 5%, so I'm happy.

If you think £85k is a large deposit you are truly deluded