Moving abroad – can I keep my UK bank account?
May 27, 2011 at 1:59 pm
If you are planning on moving abroad you may be asking yourself whether you can keep your UK bank account. Well not only is it possible but it is also highly advisable.
Here are the main reasons why:
- Banks are not allowed to close down your account without your permission, and don’t forget that above all, they want to keep your money!
- If you are not planning to stay abroad permanently, it is essential that you keep ties with your bank. When you return to the UK, you may find yourself in a Catch-22 situation: it is very hard to open a UK account without a proof of address – and how can you get a roof over your head without having a bank account?
- Even if you are planning a permanent move, you might want to come back to the UK for holidays or work, so a UK bank account will always come in handy.
- It will help make a smooth transition to your new life abroad, before being able to open an account there.
- You may also have to keep meeting some expenses in the UK (loans, payments, taxes, bills, etc) and collect income (wages, rent, etc). Don’t forget to list the revenue and expenditure that will continue to go through your account. You can set up the necessary automatic withdrawals and transfers before you leave or use online banking.
Once you know your new address abroad, your bank can usually redirect your statements at no extra charge, or you can choose to view them online.
It may be important to consider whether you need to transfer money from the UK on a regular basis. The Times Online lists the services offered by most high street banks such as HSBC, Lloyds and NatWest. The article also warns against excessive bank charges and lists other payment options through specialist brokers.
Thinkbanking part of RBS closed my account stating that because I was not in the UK for more than six months of the year legislation did not allow them to keep my account open. They did not have my permission they just told me that was what was going to happen.
I have a problem today whereby I send my mortgage payment to the Alliance & Leicester as I have done every month since we came to australia via westpac on an international transfer – this month A&L tell me I am in arrears I tell them the payment went on the 13th, they dont believe me and wont look for it. I check with westpac who tell me that Natwest A&L international clearing bank have refused the payment without explanation and will not respond to their communications demanding a reason because until they either confirm the transaction is cancelled and why I cannot have the funds back so I can pay them over the phone by card if necessary. A&L wont do anything until I can convince them I have paid my mortgage and only then will they go looking for my money – I sent it, they wont accept it – no reason and I cant get it back. What the hell do you do in these circumstances. I am due to send another payment do I hope they will accept it or do I just let them keep refusing the payment until they repossess the house – what can I do???
Hi. This also happened to me and caused me much distress and inconvenience.
I had a RBS current account for several years that I opened when living in the UK. I went travelling initially and spent my time in Thailand. Throughout my time abroad I always kept well in touch with RBS because they needed to know that I was abroad for security issues relating to me withdrawing my cash from the ATM abroad.
I found teaching work and decided to stay on in Thailand for the indefinite future although I always intended to return back home at some stage on the future.
Initially, I kept my UK address on their records although they knew I was abroad. I used my RBS bank account on a monthly basis to withdraw cash from my account using my RBS Visa Debit card so my account was definitely active and they were making money from the fees related to international ATM cash withdrawals. Likewise I had no overdraft so in all I considered my account to be of value to RBS being a valid customer.
I used their online digital banking services for the majority and occasionally telephone banking for more unusual purposes and had all my statements paperless online.
After a year I contacted RBS and discussed changing my address to the one in Thailand and wanted to understand the feasibility and implications. I was put at ease and told that they were an international bank and that they had a great many expatriates like myself who had changed their location details to abroad and that this would be no trouble st all and have no adverse consequences.
Everything was the same for around 3 years until one day in October 2013 I had problems trying to withdraw cash from the ATM abroad. When contacting the RBS telebanking service I was extremely surprised, shocked and angry having been told that my account had been closed and that they had sent me a single letter a few weekday earlier to notify me if this. As I already mentioned, all my correspondence had been set to paperless so I unchecked my emails but found no warning letter. Quite honestly I was very doubtful that such a letter had been sent. Regardless, for such an important issue, in my opinion RBS should have ensured that I had received and acknowledge receipt of their intention close my account to allow me to plan ahead and make new arrangements. They lacked total diligence with their policy and procedure. This left me with no real excluse why my account had been closed and no access to my funds or ability to make ant financial transactions without notice and left me in a terrible position where I had to.speak with account closures dept for an explanation. I never received a sufficient explanation, only that RBS had had an annual review and decided to terminate many people myself Sdeemed to be unprofitable. When I called RBS I could hear the call centre dealing with a huge number of people calling in from abroad with the identical issue, grievance, confusion and questions. It appeared that this RBS policy involved a mass cull of expanse. I am most disgusted with RBS for this policy and the way it was implemented.
Does this hold firm even if you are not a uk passport holder, and you are moving back to your country of birth?
There is clearly some difference between what the banks say they will do and what they actually do. As the banking regulations get more and more strict, there are new ‘rules’ coming in each week to pander to the money laundering scares. How up-to-date is this information in the article above, because unless it is current, it is of very little use to anyone..
I now live in France. Santander have just refused to change the address on my account, unless I give a UK address. I’m about to check with others.
They did it for my Wife, no problem.
Hi, I am Indian citizen, I had to move back to India due to the expiry of my British Visa. I work in India with a Cyprus based company and my employer pays me in my British bank account. I want to know is it legal to get salary in British bank account although neither I have valid UK visa nor I work is based in UK.