HSBC Bank account non resident
Overseas Account: open an account abroad

If you are moving to UK to live or study or you are looking to invest in the UK while residing outside UK, it is understandable to want to open an account with a UK bank. Unfortunately, most UK banks will not allow you to open an account unless you have a valid UK address. This, however, does not mean opening a bank account in the UK is impossible. It does, however, mean opening an account in UK can be challenging due to problems facing non-residents.

Also usefull if you want to relocate your current account. Whether you're emigrating, retiring, studying or working abroad, or just need an overseas account

Banking problems facing non-residents

Many problems facing non-residents who want to open UK bank accounts are a result of complex money-laundering regulations that were introduce in 1993. While there are no clear-cut legal restrictions preventing banks from entering into business with customers who have foreign addresses, concerns over extra administrative costs and fraud prevention make the majority of banks unwilling to offer domestic banking services to non-residents.

The British Banking Association (BBA) recognises the problems facing honest people wanting to open UK bank accounts. Following updates to banking regulations in 2003 and 2007, the BBA has set up an online service that lists UK banks that allow non-residents to open bank accounts. In order to open a non-resident bank account, you will need to identify these financial institutions that allow overseas residents to hold UK accounts.

Banks that allow overseas residents to hold accounts

The BBA had three banks listed on its account finder service at that accept international customers, as of 2012. These banks are Barclays, HSBC and Lloyds TSB. Visit the banks’ websites to learn more about opening a bank account in UK with them.

If you live and want to continue living outside the UK and still hold a UK bank account, Barclays and their excellent International Banking and Offshore Accounts products should probably be your first point of call. You can then compare this with the equally good HSBC’s International Services and Lloyds TSB’s International Account products.




To earn interest, you may wish to open a savings account. There is a wide range available and the main differences between them are how quickly you can access your money, the minimum amount required to keep the account open and the type and rate of interest paid. Read about HSBC's savings accounts.


Once you've lived in the UK long enough to be classed as a resident, you can save tax free using an ISAISA
An ISA is an Individual Savings Account. Any adult living in the UK can have an ISA, which allows you to save a certain amount each tax year without paying any tax on the interest you earn.. There are a variety of cash ISAs available, with different terms and notice periods, as well as stocks and shares ISAs. Many ISAs offer full, instant access, but there are limits on how much you
can invest each tax year. So, if you use your full allowance but then take money out, it cannot be paid back in.

If you have £50,000 or more in savings and investments, you may be eligible for HSBC Premier Financial Advice. See the full eligibility criteria for an overseas Bank account.



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