UK bank needed for an expat.

[westernman]

I pay a flat fee equivalent to about 60p per transaction when transferring money between my HK and UK HSBC accounts, no matter how much. Between HSBC and other banks it's a normal rate. But, of course, it's basically between different aspects of the same global entity. So, no commission for transfers between HKD and GBP.

That was USD to GBP for a large amount.

 

[bedouin]

You will struggle.

Since we left the EU, EU rules mean that UK Banks can't operate in the EU. You might get away with it if you open the a/c whilst in the EU and then move abroad ( but some will close your account even then) but very unlikely they will open brand new accounts, especially for low value transactions - it;s not worth the risk to them

It is nothing to do with that. Most of the big banks in UK are multi national and can provide banking services almost anywhere.

The problem is other regulations, KYC, anti-money laundering, terrorist financing, prevention of tax avoidance, international sanctions and so on. That means there is a lot of "due diligence" they are required to carry out and that is expensive. Most current accounts don't make any money for the bank so why should they put that much effort in for nothing. E.g. Santander which is a Spanish account won't offer UK accounts to Spanish residents.

Many banks do offer these accounts but have pretty tough qualifying requirements. e..g.

Best Expat Bank Accounts for British Nationals Living Abroad

 

[Fr J Hackett]

I have just read Bedoin's post and his link, I don't know why I am so privileged but Nat West have allowed me to keep my current account which I have held for 60 years with the same branch. It gives me full access via telephone, internet etc I get a debit card supplied as and when the old one expires. I keep nothing in it like the £75K requirements of the banks mentioned, it's usually between £1K and £2K refreshed when it falls under £1K. I use it intermittently but did so last week with about £1200 use split between shop and machine transactions, the previous use was a year earlier and prior to that either 2 or 3 years previous.
I had one question from them about 8 years ago regarding tax liability in France since then nothing.
Luck of the draw I suppose.

 

[AntarcticPilot]

I have just read Bedoin's post and his link, I don't know why I am so privileged but Nat West have allowed me to keep my current account which I have held for 60 years with the same branch. It gives me full access via telephone, internet etc I get a debit card supplied as and when the old one expires. I keep nothing in it like the £75K requirements of the banks mentioned, it's usually between £1K and £2K refreshed when it falls under £1K. I use it intermittently but did so last week with about £1200 use split between shop and machine transactions, the previous use was a year earlier and prior to that either 2 or 3 years previous.
I had one question from them about 8 years ago regarding tax liability in France since then nothing.
Luck of the draw I suppose.

I think that they do give consideration to loyal customers. I've had my HSBC UK account since the 70s; when I wanted to open an account in Hong Kong they raised no difficulty over making the formal recommendation required. But I think it would be another story for a new account.

 

[bedouin]

I have just read Bedoin's post and his link, I don't know why I am so privileged but Nat West have allowed me to keep my current account which I have held for 60 years with the same branch. It gives me full access via telephone, internet etc I get a debit card supplied as and when the old one expires. I keep nothing in it like the £75K requirements of the banks mentioned, it's usually between £1K and £2K refreshed when it falls under £1K. I use it intermittently but did so last week with about £1200 use split between shop and machine transactions, the previous use was a year earlier and prior to that either 2 or 3 years previous.
I had one question from them about 8 years ago regarding tax liability in France since then nothing.
Luck of the draw I suppose.

Yes I think you have been lucky - NatWest as not been as aggressive as (say) Barclays in closing expat accounts. Natwest still offer international accounts and while you might not meet the requirements to open one now they won't necessarily close it.

 

[Seastoke]

Transfer me your money I will give 9% , no bank can match that.

 

[dunedin]

I have just read Bedoin's post and his link, I don't know why I am so privileged but Nat West have allowed me to keep my current account which I have held for 60 years with the same branch. It gives me full access via telephone, internet etc I get a debit card supplied as and when the old one expires. I keep nothing in it like the £75K requirements of the banks mentioned, it's usually between £1K and £2K refreshed when it falls under £1K. I use it intermittently but did so last week with about £1200 use split between shop and machine transactions, the previous use was a year earlier and prior to that either 2 or 3 years previous.
I had one question from them about 8 years ago regarding tax liability in France since then nothing.
Luck of the draw I suppose.

Is your postal address in France? If so I suspect it is only a process error (not uncommon with NW) that has allowed ghat to continue.

 

[Fr J Hackett]

Is your postal address in France? If so I suspect it is only a process error (not uncommon with NW) that has allowed ghat to continue.

Yes my postal, address is in France and confirmed to Nat West in correspondence from me which they have used periodically so how it's a process error escapes me.

 

[billskip]

Is your postal address in France? If so I suspect it is only a process error (not uncommon with NW) that has allowed ghat to continue.

Not at all, like Fr Hackett, nat west has allowed me to keep my account open, FrH is telling porkies though he hasn't had a nat west account for over 60 years...(first 1968..56 yrs ago..)
However even that they know my address I have no problem with the account and this was confirmed with them when I told them I was going to live in the Canarias.

If you are not a UK resident you can keep most savings/investments...but you can not open new ones or increase any savings/ investments. ISA's etc, but can continue as a current account/on line Internet banking as I do.

 

[Fr J Hackett]

Not at all, like Fr Hackett, nat west has allowed me to keep my account open, FrH is telling porkies though he hasn't had a nat west account for over 60 years...(first 1968..54 yrs ago..)
However even that they know my address I have no problem with the account and this was confirmed with them when I told them I was going to live in the Canarias.

If you are not a UK resident you can keep most savings/investments...but you can not open new ones or increase any savings/ investments. ISA's etc, but can continue as a current account/on line Internet banking as I do.

True I don't think it was National Westminster when I opened the account maybe just Westminster Bank.

 

[billskip]

True I don't think it was National Westminster when I opened the account maybe just Westminster Bank.

Could have been....It was possibly the National Provincial Bank, well mine was.

 

[greeny]

Transfer me your money I will give 9% , no bank can match that.

Send me your bank details and password then.