Keep UK bank account open!
#1
itchy feet again!
Thread Starter
Joined: Sep 2007
Location: Ex-Canada: now rural West Sussex.
Posts: 1,013
Keep UK bank account open!
A word of warning to any of you thinking of making the Big Leap away from the UK.....keep a UK bank account open. Why, if you're leaving? Because you just never know when the homing instinct will kick in and you get the urge to come back. Okay, so some of you never will return, but for those who do, trying to open a bank account is a nightmare. Fortunately Mr Oldbag and I kept one going....if we hadn't I honestly don't know how we would have transferred our funds back from Canada. All banks and building societies have to comply with such rigorous rules regarding identity, it makes it difficult if you cannot provide proof of who you are and where you live. Proving who you are isn't so bad......a passport will do that, but it's the address thing that can prove awkward. So my advice would be to keep an account open, even if it's only got £5 in it.....it'll save a lot of frustration later IF you come back.
An afterthought.....maybe this should be posted in the other forums for people to see before leaving the UK! Maybe there should be a forum called Before You Leave The UK......how about it?
An afterthought.....maybe this should be posted in the other forums for people to see before leaving the UK! Maybe there should be a forum called Before You Leave The UK......how about it?
Last edited by Jay Bird; Jul 28th 2008 at 2:32 pm. Reason: An afterthought.....
#2
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,819
Re: Keep UK bank account open!
A word of warning to any of you thinking of making the Big Leap away from the UK.....keep a UK bank account open. Why, if you're leaving? Because you just never know when the homing instinct will kick in and you get the urge to come back. Okay, so some of you never will return, but for those who do, trying to open a bank account is a nightmare. Fortunately Mr Oldbag and I kept one going....if we hadn't I honestly don't know how we would have transferred our funds back from Canada. All banks and building societies have to comply with such rigorous rules regarding identity, it makes it difficult if you cannot provide proof of who you are and where you live. Proving who you are isn't so bad......a passport will do that, but it's the address thing that can prove awkward. So my advice would be to keep an account open, even if it's only got £5 in it.....it'll save a lot of frustration later IF you come back.
An afterthought.....maybe this should be posted in the other forums for people to see before leaving the UK! Maybe there should be a forum called Before You Leave The UK......how about it?
An afterthought.....maybe this should be posted in the other forums for people to see before leaving the UK! Maybe there should be a forum called Before You Leave The UK......how about it?
#3
Elusive dreamer
Joined: Jan 2007
Posts: 425
Re: Keep UK bank account open!
This is really good advice. I once made the mistake of closing my UK bank account when I went to study abroad for a year.
In the first place, I could not open a bank account without a utility bill - but I could not rent a place without a direct debit set up to my bank account. Also, while I did manage to find a job, I could not actually get my salary, because I did not have a bank account! Catch 22, really.
In the first place, I could not open a bank account without a utility bill - but I could not rent a place without a direct debit set up to my bank account. Also, while I did manage to find a job, I could not actually get my salary, because I did not have a bank account! Catch 22, really.
#4
Re: Keep UK bank account open!
How about a post office account or building society account? Are they as hard to open? I don't want to use my old bank account in the UK, I would rather open a new one because of some things attached to that old account.
#5
Heading for Poppyland
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,558
Re: Keep UK bank account open!
However, folks who do not live in the UK can open a sterling account in the Isle of Man or the Channel Isles. They need a certified copy of your passport, proof of address, utility bill etc. Then, if you return to the UK to live, you can transfer the offshore account to a UK bank - once you're established in the UK with a permanent address and utility bills etc.
#6
Heading for Poppyland
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,558
Re: Keep UK bank account open!
I think you will find the same restrictions apply to all types of bank accounts - including Building Society. If you live in the US, just open one in the Isle of Man.
#7
Re: Keep UK bank account open!
A word of warning to any of you thinking of making the Big Leap away from the UK.....keep a UK bank account open. Why, if you're leaving? Because you just never know when the homing instinct will kick in and you get the urge to come back. Okay, so some of you never will return, but for those who do, trying to open a bank account is a nightmare. Fortunately Mr Oldbag and I kept one going....if we hadn't I honestly don't know how we would have transferred our funds back from Canada. All banks and building societies have to comply with such rigorous rules regarding identity, it makes it difficult if you cannot provide proof of who you are and where you live. Proving who you are isn't so bad......a passport will do that, but it's the address thing that can prove awkward. So my advice would be to keep an account open, even if it's only got £5 in it.....it'll save a lot of frustration later IF you come back.
x
#8
Banned
Joined: May 2008
Location: Lagrange 2
Posts: 1,507
Re: Keep UK bank account open!
Also if you have problems with the old account then the system of credit monitoring will ensure that the problem is fully disseminated.
#9
Banned
Joined: May 2008
Location: Lagrange 2
Posts: 1,507
Re: Keep UK bank account open!
This is good advice - if you keep the account, you can always just change the address to your parents, siblings UK address etc... but it's not possible to open a new account after you've left the UK.
However, folks who do not live in the UK can open a sterling account in the Isle of Man or the Channel Isles. They need a certified copy of your passport, proof of address, utility bill etc. Then, if you return to the UK to live, you can transfer the offshore account to a UK bank - once you're established in the UK with a permanent address and utility bills etc.
However, folks who do not live in the UK can open a sterling account in the Isle of Man or the Channel Isles. They need a certified copy of your passport, proof of address, utility bill etc. Then, if you return to the UK to live, you can transfer the offshore account to a UK bank - once you're established in the UK with a permanent address and utility bills etc.
#10
Pamela 1
Joined: Dec 2006
Location: Ontario Canada
Posts: 257
Re: Keep UK bank account open!
Bijilo123 What do you mean tell them no more post. They always send out a monthly statement by post.
We closed our Building Soc. account a number of years ago and wish we never had, so good advice Oldbag. We now have an offshore account in IOM with Lloyds TBS.
So if we want to transfer that to a Lloyds bank in UK do we still have to show utility bills?
We closed our Building Soc. account a number of years ago and wish we never had, so good advice Oldbag. We now have an offshore account in IOM with Lloyds TBS.
So if we want to transfer that to a Lloyds bank in UK do we still have to show utility bills?
#11
Re: Keep UK bank account open!
I always end up scratching my head when I read these threads. I totally agree with OB it is best to keep UK account open.. BUT.. When i came back last year after several years out of the country I walked into Lloyds TSB and opened a fully functioning current account with small overdraft in a matter of 30 mins and all i deposited was a £5 note!!
I think it depends where you go and what mood the staff are in LOL
I think it depends where you go and what mood the staff are in LOL
#12
BE Enthusiast
Joined: May 2007
Location: Western Sydney For Now
Posts: 434
Re: Keep UK bank account open!
If you leave a UK bank account open does it cause any potential issues with the UK taxman as in essence are you leaving a taxable presence?
#13
BE Enthusiast
Joined: Jun 2007
Posts: 456
Re: Keep UK bank account open!
Of course they were getting me to do tax returns before I left and haven't stopped asking me for them.
#14
BE Enthusiast
Joined: May 2007
Location: Western Sydney For Now
Posts: 434
Re: Keep UK bank account open!
So unless you have a burning need to keep one open, it is best to shut them down?
#15
itchy feet again!
Thread Starter
Joined: Sep 2007
Location: Ex-Canada: now rural West Sussex.
Posts: 1,013
Re: Keep UK bank account open!
I always end up scratching my head when I read these threads. I totally agree with OB it is best to keep UK account open.. BUT.. When i came back last year after several years out of the country I walked into Lloyds TSB and opened a fully functioning current account with small overdraft in a matter of 30 mins and all i deposited was a £5 note!!
I think it depends where you go and what mood the staff are in LOL
I think it depends where you go and what mood the staff are in LOL
As to the taxman being interested.....not sure as it's never been an issue with OH and me as we didn't have an income from the UK whilst living in Canada.
Strangely, although similar safeguards are in place in Canada (I used to work for Scotiabank and did all the anti-money laundering courses, so understand the whys and wherefores), we didn't have to provide proof of address.....just proof of the source of funds.