Do banks run a mile when you put your address as your boat?

Kelpie

Kelpie

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Hoping to get away bluewater cruising next year and we'll have to rent out our house to cover the mortgage.
The bank are going to want to know where we're living if the house is rented out... so will they freak out when we say 'our boat'?
Can't be the only people in this position?
 
Kelpie said:
Hoping to get away bluewater cruising next year and we'll have to rent out our house to cover the mortgage.
The bank are going to want to know where we're living if the house is rented out... so will they freak out when we say 'our boat'?
Can't be the only people in this position?
Click to expand...

Will they freak out❓Yes.

The bank will require you to have a ‘home’ address. As Vic suggests, the address of a relative should suffice.
 
Thanks, we're aware of the many benefits of keeping a UK address. Just looking at re-jigging the finances before we leave and was wondering if the bank would care where we decide to live once the house is rented out- guess they do.
 
You will get asked occasionally to verify said address too. Usually they want to see a council tax bill, utility bill or bank statement. The last one is doable for cruisers if you have a working address that can forward and/or scan your stuff.
 
Yngmar said:
You will get asked occasionally to verify said address too. Usually they want to see a council tax bill, utility bill or bank statement. The last one is doable for cruisers if you have a working address that can forward and/or scan your stuff.
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Well, over the last 20 years none of our banks or anybody else have asked we verify our address. How does sending a bank one of it’s statements prove anything. Have any other long term cruisers ever been asked to verify their contact address?

Nevertheless, mindful that this could happen, we are on an electoral roll and always use our postal vote.
 
nortada said:
Well, over the last 20 years none of our banks or anybody else have asked we verify our address. How does sending a bank one of it’s statements prove anything. Have any other long term cruisers ever been asked to verify their contact address?

Nevertheless, mindful that this could happen, we are on an electoral roll and always use our postal vote.
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which country?
Setting up bank accounts for start ups in UK is incredibly challenging
 
startups by students from various countries, have serious issues even if they have visas. Just wanted to know if you were talking uk or another country
 
Kelpie said:
Thanks, we're aware of the many benefits of keeping a UK address. Just looking at re-jigging the finances before we leave and was wondering if the bank would care where we decide to live once the house is rented out- guess they do.
Click to expand...

Banks do care, they don't like accounts for non residents. Make sure you stay on the electoral role at whatever address you use, it's the standard check for many things. We had our car insurance renewal refused one time when they found we had been out of country for >6 months, learned to lie after that :)
 
nortada said:
Well, over the last 20 years none of our banks or anybody else have asked we verify our address. How does sending a bank one of it’s statements prove anything. Have any other long term cruisers ever been asked to verify their contact address?

Nevertheless, mindful that this could happen, we are on an electoral roll and always use our postal vote.
Click to expand...
I don’t think the banks want to see their own statements but other institutions etc may want to use it as confirmation of ID
 
You also find if letters are returned to the banks i.e. Circular junk mail or just a standing letter tell you of rates change , they will put the account on hold until you contact them ,
I remember once tell the bank that I am paperless so why do they still send out crap and was told it one way of making sure the account hold still lives at that address .
It's much easier now with internet banking to do things like change of address once you had to take prove in .
I wouldn't use an rented house address , if you can a family member .
 
Yngmar said:
You will get asked occasionally to verify said address too. Usually they want to see a council tax bill, utility bill or bank statement. The last one is doable for cruisers if you have a working address that can forward and/or scan your stuff.
Click to expand...
This can be a problem especially if you want to open a new bank account , although more and more banks now are just doing a online check .
 
Since we moved aboard in 1998, we have used my Brother in Laws address. Bit of a pain the 4 times hes moved since then!

But he has been very good at binnin spam mail for us. (y)
 
We use one o
capnsensible said:
Since we moved aboard in 1998, we have used my Brother in Laws address. Bit of a pain the 4 times hes moved since then!

But he has been very good at binnin spam mail for us. (y)
Click to expand...
I use one of my daughter s address. And had to use it to confirm various things like new bank card etc. We are cruising the med
 
Kelpie said:
Hoping to get away bluewater cruising next year and we'll have to rent out our house to cover the mortgage.
The bank are going to want to know where we're living if the house is rented out... so will they freak out when we say 'our boat'?
Can't be the only people in this position?
Click to expand...
Mailboxes with a virtual address, mail forwarding and scanning, UK talk to Brodie.

Banks, Passports, Ins etc accept virtual address. Many people use this.
NEVER tell anyone you live on a boat LOL
 
I think the main problem with bank accounts is getting one in the first place. I'd be inclined to go paperless with your statements and decline any marketing and leave things alone...
Personally never been asked to verify an address, my bank never sends me anything by post. I do use my brother's address, though can log in and update the address myself. I bank with Smile (internet version of Co-Op)...
 
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