vh3

After 21 years we have made the decision to return to Scotland in 2020. We would like to open a bank account in advance and realise this might not be easy. We went into our local HSBC to see if we could open an overseas account that would let us access our money in the UK and was told no. Does anyone know a) is this possible and b) if so, how best to do it.

HKG3

Have a look at the link below for details -

https://www.hsbc.ca/1/2/personal/ban...ccount-opening

The only thing with HSBC is the lack of branches in Scotland. There is only one branch in Glasgow for example.

Another point - the OP should consider applying for Canadian citizenship before returning to Scotland if not already done so.

vh3

Thank you, I will look at this. Yes, we are Canadian Citizens and have been for many years although until the last year we never considered moving back. Now we are looking forward to retiring back home. Miss the humour.

HKG3

You may also want to check you UK state pension forecast using the link below -

https://www.gov.uk/check-state-pension

You can improve your own NI records for UK state pension purposes by paying additional voluntary NI contributions -

https://www.gov.uk/voluntary-nationa...-contributions

vh3

Just checked with HSBC and they confirm I cannot open an account in Canada and get access to my funds in the UK.

durham_lad

So much for HSBC’s claim that they are “the world’s first global bank”.

So sorry to hear this, both ourselves and our son used HSBC to easily move our move between the USA and UK. I can log onto either account and view the accounts in either country, and from either account move money between them. No idea why they don’t have the same approach in Canada.

vh3

I think therein lies the problem. Canadian bank laws.

lf1

https://www.hsbc.ca/1/2/personal/ban...er/features#02

This type of account might be the type of account you are looking for.

vh3

Thank you, I will look into this. Barclays International Branch confirmed yesterday that due to Canadian bank laws I cannot open an account with them until I return to the UK.

MidAtlantic

I have no experience of it, but take a look at Transferwise Borderless bank. That could be a solution until you arrive in Scotland and can produce the necessary ID to open an account there.

Novocastrian

Nope. You need to speak to someone more senior at HSBC.

I opened a (premier) account with HSBC in Toronto in about 2007 and subsequently used them to open HSBC accounts in both the UK and France. I can move funds around the three using Global View (in fact I did so earlier today). For a premier customer there are no charges for opening accounts in another country and they even issue a credit card based on your original credit history in the first country.

If you don't qualify for premier status (min deposit $100K) they will still open other accounts but charge a fee.

Benson55

Try Barclays wealth management site. If you put 25,000PDS in and can be in Jersey or London or Isle of Man they will help you.

Benson55

https://wealth.barclays.com/en_gb/ho...s/banking.html

Freshwhyte

You could always apply for a Basic Current Account online at any bank (shortly before you move) use the address you will be staying at, and then produce the appropriate ID to activate the account when you arrive.

Based on all the research I've done, it seems like the only feasible way to open an account. Opening one prior to arrival seems practically impossible.

vh3

Thank you for this. A work around nearer the time is the only solution we have come up with as well.