Banking new to UK

Old Apr 13th 2014, 11:24 am
  #31  
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Default Re: Banking new to UK

A US driving license can NOT be directly exchanged for a UK driving license.

When a USC becomes resident in the UK, their US driving license is good for 1 year. After that period, it is no longer acceptable. Therefore, if you are found driving on a US license after 1 year, you will be charged with driving without proper insurance on the vehicle since a stipulation of all insurance policies is the requirement for a legal driving license.

A USC will have to take 3 tests. Tests 1 and 2 are given on a computer, and are administered at select offices in a different location to where they will take the 3rd test (the practical driving test).

The 1st test is 50 questions based on the drivers manual. The 2nd test is an interactive test to evaluate your response to potential threatening situations, and follows immediately after the 1st test. Think 'first person shooter' computer games. You are shown real footage from inside a vehicle travelling on real roads in everyday situations. You must respond when you see a potential situation that may require an emergency reaction by clicking the mouse. This 2nd test is (I've been told) the more difficult for the older applicants (those not use to playing first person shooters).

Caveat: at one time it was suggested the 2nd test may no longer be given. I do not know if it is still given or not.

Unless they are very lucky, making an appointment for the 1st and 2nd test and the time the tests are given is usually, at minimum, 1 month apart. It may well be an additional month or more before they can take the practical test. Booking the tests is done online, and there are many applicants.

After they have been resident in the UK for 6 months, a person with a provisional license may apply for the 3rd test, the practical driving test.

There are some on forums who claim to not have had any lessons, yet passed the test. I would question this (or assume they practiced with a spouse or close friend who was a driving examiner). An experienced USC applicant is not expected to start by 'learning to drive'. The driving instructor instead will 'teach' the applicant the rules that apply to driving in the UK. Most find that their driving skills improve greatly as a result.

It's an old expression, but true, they are learning how to pass the driving test. I would suggest any USC applying for a UK license should have, at minimum, 4 hours with a driving instructor. Driving in front of a stranger who is evaluating your performance is an experience one needs to become comfortable with. From what I've heard, the driving practical test has not been made easier, but it now pertains more to 'realistic driving' (I know no other way to say this) and is less about aspects such as the 'not crossing over hands on the wheel when executing a turn' type requirements of the older tests.

As has been stated previously, passing the test in an automatic will result in a restriction on your license, limiting you to only driving automatics. Passing the test in a manual allows you to drive both automatic and manual drive cars.

I have never heard of a USC resident in the UK being unable to obtain insurance. This doesn't imply it's never happened. The choice of insurance companies may be somewhat limited, and the cost of the insurance will be high (they are treated as a 1st time, novice driver).

The successful applicant will be issued a photocard license in addition to the paper license. In light of other posts on this thread, you should know the photocard license will include your country of birth.
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Old Apr 13th 2014, 12:51 pm
  #32  
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Default Re: Banking new to UK

Thank you Quiltman and OAP,

1. My immediate concern was banking but I find the driver licence information very helpful as well! I'm sure, much though I would prefer not to, I really should get a licence.

2. I think that the idea of taking some lessons is good, and I'll do it. Long-run, it's probably best all around.

3. OAP, I think I made it pretty clear I had no interest in taking the test in an automatic. Automatics are a huge PITA to drive, I just was thinking of renting a car and taking the test in it, and rental agencies where I live (in the US) ONLY rent automatics, I've never rented a car elsewhere so I wasn't sure if that was the same everywhere. I have researched it and seen that's not allowed anyway.

4. Not sure why I'd care about the licence showing my country of birth. I'm not on the run from the law, or something like that. I just don't want my life to be too big of pain because of America's ridiculous overreaching. I do find it interesting, however, that they'd put country of birth on a driver's licence when they don't on passports (due to the banking thing, I am very glad my British passport does NOT list my country of birth).
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Old Apr 13th 2014, 2:22 pm
  #33  
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Default Re: Banking new to UK

Back to the topic of this thread...

Originally Posted by JAJ
Also, the Swiss agreement on FATCA is Model 2, which means that banks have to report directly to the IRS,...
I assume this means you agree with my post #9 on the above.

Originally Posted by JAJ
....there is no sign that they are refusing to deal with U.S. citizens.
Again, I assume this means you agree with my post #9 on the above.

Originally Posted by JAJ
The experience in Switzerland is not typical of other countries that have signed FATCA agreements. In Switzerland, there's firstly perhaps a cultural tendency to apply rules and regulations quite literally, and secondly many of the Swiss banks have already been targeted by the U.S. authorities for their role in facilitating U.S. tax evasion.
And now, to the heart of the discussion.

There are 10 or so Swiss banks who flagrantly abused IRS reporting requirements by encouraging certain of their customers to take illegal actions. They deserve the wrath that has been accorded them. What we do need to be aware of is the part FATCA plays in the current Swiss banking situation for USCs verses the result of actions taken by the US Department of Justice in response to the above violations. The actions of DoJ probably play more of a role in the denial of accounts to USCs than FATCA does.

The DoJ has required all Swiss banks (aside from those already charged) to verify that any USC customer, during the last 5 years, has reported all their accounts to the IRS/Treasury held with those Swiss banks. For most of the banks, this was an impossible request to honour. They therefore found no alternative but to plead guilty and pay substantial fines/penalties. They did this in spite of being (presumed) innocent of encouraging any USC to engage in tax evasion. As a result, there are now only 2 or 3 Swiss banks, and perhaps a handful of Kantonal banks, which will accept new accounts from USCs. These accounts are limited to current and savings accounts.

JAJ, you have implied that banks in the UK have not acted as these Swiss banks have in the past and are therefore far less likely to be subjected to similar difficulties in the future. I would remind you that several of the UK High Street banks have been found guilty of illegal(?) acts, and have been fined by the US Treasury for their actions.

The UK banks are aware of the actions of the DoJ in Switzerland. They are also aware that the US has discovered a successful and 'vote getting' campaign against those USCs who hold 'foreign bank accounts'. I can assure you the UK banks are aware that at any time the US Congress decides to have yet more legislation passed which will further gain attention to the supposed efforts to 'get a fair share' from all those who hold foreign accounts, the resulting legislation (or even actions of the DoJ) can happen overnight in the most unexpected ways. That includes consequences for any FFI with USC customers who are UK residents, or even UK Citizens.

The current Russian situation appears to be an example where, if the US choses to do so, FATCA legislation can be used to achieve goals unrelated to the exchange of banking information by enforcing sanctions on the banks of a foreign country. It has not gone without notice in the foreign press of other countries. Of course, the US could enforce sanctions without the FATCA legislation, but FATCA now gives the US a legal reason to do so.

JAJ, you are adamant in your protestations against scaremongering. I think you will find most agree with you. Scaremongering (especially by those who may ultimately benefit from it) can lead to unfortunate circumstances. Witness those who were wrongly enrolled in the 2009 OVDP and paid a high price due to scaremongering advice.

JAJ, whilst scaremongering is distasteful, I find it also distasteful to assure USCs that they will have absolutely no problems in the future regards UK banking as a result of FATCA when, in fact, we do not know for certain whether this is true or not.

I would suggest that your advice to be very wary of anything found in internet forums be treated as suspect unless it can be verified is wise advice. I would also suggest that, in addition, any USC who is contemplating living outside the US should make certain they practice constant, due diligence as to the effect of FATCA on their new local situation, and to be certain they are aware any aspects that will effect their finances and tax reporting. If it means investigating further what appears to be scaremongering, then it may be time well spent. Today, only a fool would guarantee to know what the future will bring.

May we agree on one further point? Whilst we both feel FATCA legislation should have a reduced impact in the UK verses some other countries, neither of us can guarantee anyone what the actual, eventual impact will be at this time for USC customers of UK banks.
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Old Apr 13th 2014, 2:29 pm
  #34  
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Default Re: Banking new to UK

You should be able to get a bank account because you are a british citizen. Also the insurance piece, I have never heard of a US citizen not being able to get insurance in the UK. As someone pointed out US car insurers cannot cover outside of the US. I would recommend taking driving lessons and using that car for the test. The UK driving test is much more difficult than the US one and the driving rules are different. The driving instructor will make sure that you know everything you need to know to pass.
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Old Apr 13th 2014, 3:37 pm
  #35  
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Default Re: Banking new to UK

I've sent you the link from the DVLA. That's the government agency that licenses cars in the UK. Use it. As far as I can see, you will need to take the test.
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Old Apr 13th 2014, 6:21 pm
  #36  
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Default Re: Banking new to UK

I do have a lot to figure out, and I thank you all for your help. I do find the number of driving recommendations funny, as I understand that situation far better - banking is a huge uncertainty.

I'm not really going to be a traditional "ex-pat" as you find on here. I spent my summers in the UK, half my family is there, etc. Still, there are so many issues to navigate with regards to "adult" issues I've never had to think about.

Frankly, though, for the most part these issues are no greater than they would be in California. The biggest differences are that in California I could trade in my licence for a CA one and that CA banks don't have a reputation for refusing to do business with US nationals.

Also, I've always known that I'd end up moving to England, I have no real opposition to the concept of renouncing my US citizenship to make my life easier. However, US citizenship also has valuable points - the ability to come do business in the world's largest economy with no paperwork. Also, I feel that, going forward one has to make the assumption that those who renounce US citizenship without an excellent reason (such as employment with a foreign government) need to make the assumption that they will be prohibited from entering the US for any reason. There have already been attempts in Congress to do this, and with the increase of conservatism world wide (in almost every country including the US, the UK, and others), and the accompanying racism and xenophobia, I believe these attempts stand a high chance of passing in the future.
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Old Apr 13th 2014, 7:19 pm
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Default Re: Banking new to UK

The British economy would grind to a halt if British banks refused to do business with US nationals. I don't know where you are getting this stuff from, but it is weird.
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Old Apr 13th 2014, 7:23 pm
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Default Re: Banking new to UK

If you are coming to the UK because you have a place at a British university, your best source of advice and information is going to be the university itself. You should look up their international student advisors and address any questions you have to them.
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Old Apr 13th 2014, 8:52 pm
  #39  
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Default Re: Banking new to UK

Originally Posted by Editha
If you are coming to the UK because you have a place at a British university, your best source of advice and information is going to be the university itself. You should look up their international student advisors and address any questions you have to them.
Nope, I'm going to come to the England after I graduate looking for work. I need to move somewhere because I'm studying in a very rural part of the US, and about the only cities I can stand the idea of living in are London and Los Angeles, and I really feel like London has a lot better future for me.
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Old Apr 13th 2014, 9:09 pm
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Default Re: Banking new to UK

OK. I misunderstood. London is very expensive, so you'll need to make sure you have enough cash until you find a job.

If you are in London you won't need to drive. A lot of Londoners don't bother to get a car, so you could leave the issue of your driving license until you are settled.
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Old Apr 13th 2014, 9:35 pm
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Default Re: Banking new to UK

Originally Posted by Editha
OK. I misunderstood. London is very expensive, so you'll need to make sure you have enough cash until you find a job.

If you are in London you won't need to drive. A lot of Londoners don't bother to get a car, so you could leave the issue of your driving license until you are settled.
I wasn't the one who brought up driving, though people have a good point. In the first year, I can take the test as an existing driver. Specifically, no "L" and "R" nonsense if I do it in the first year.

As for money, I've got people to stay with and enough cash to live on for a few months... and I'll just take whatever I can get for work. I'm not too worried, except equally as frightened as the rest of my graduating class. I have a strong CV, feel I do well in interviews, and I think my odds of success are decent.
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Old Apr 13th 2014, 10:29 pm
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Default Re: Banking new to UK

Originally Posted by Markie
I wasn't the one who brought up driving, though people have a good point. In the first year, I can take the test as an existing driver. Specifically, no "L" and "R" nonsense if I do it in the first year.

As for money, I've got people to stay with and enough cash to live on for a few months... and I'll just take whatever I can get for work. I'm not too worried, except equally as frightened as the rest of my graduating class. I have a strong CV, feel I do well in interviews, and I think my odds of success are decent.

On the driving test: I have no idea what you mean by "L and R nonsense".
If you use the DVLA link I sent you you'll see that it says:

You can drive in Great Britain on your full, valid driving licence for 12 months from when you became resident
After 12 months you’ll need to apply for a provisional licence and pass the theory and practical driving tests to drive in Great Britain.
I'm not aware of any test for 'existing drivers' in the UK. You'll just have to take the test everyone else takes.
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Old Apr 13th 2014, 10:45 pm
  #43  
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I still have my old green driving license (valid from 1984 to 2031) in it's plastic wallet.....I'm betting it won't be valid since the new licenses came in?
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Old Apr 13th 2014, 10:54 pm
  #44  
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Default Re: Banking new to UK

Your old paper license is still valid and can by used. You don't actually have to have the card one. My Dad never switched his over and it's not a problem. I only have the paper one and it is valid and I can drive on it until it expires.
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Old Apr 13th 2014, 11:37 pm
  #45  
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Default Re: Banking new to UK

Originally Posted by Editha
On the driving test: I have no idea what you mean by "L and R nonsense".
If you use the DVLA link I sent you you'll see that it says:



I'm not aware of any test for 'existing drivers' in the UK. You'll just have to take the test everyone else takes.
It's the same test, but the difference is if you do the test within the first year, you're a licensed driver already, so you don't have do display "L" plates while you're learning or (for Northern Ireland) "R" plates for the first year; along with the restrictions that go along with those plates. Thus no 45 mph for a year restriction. This only applies in Northern Ireland, but I didn't know that when posting it - all of my family first got their licences in Northern Ireland so that's what I was familiar with.
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