|
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
bba.org.uk 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.
List of Banks in United
Kingdom - Top Banks in UK
List of
sort codes of the United Kingdom
How do I choose an account?
UK banks offering basic bank accounts
How do I open an account?
British Bankers' Association
Financial Services Authority's
Financial Services
Compensation Scheme (Deposit Insurance)
Making a complaint on UK Banking
IBAN Checker
SEPA Payments
Directory Swift CODES Banks in United Kingdom
SWIFT Checker
SORT Code
Checker
Dormant or lost UK BAnk
Account
Opening a Bank account in Citibank
Open Bank
account at Barclays
Open Bank account at HSBC
Safe Deposit Boxes
Opening A Bank
Account In the Isle of Man
Glossary and abreviations
Information about United
Kingdom
|
