suzysu

I was just wondering what other people did about their uk bank accounts.
Do you close them or keep them open?
I'm thinking of keeping mine open, so that when i go back to the UK for holidays, i can transfer the money into my UK account. Im not sure of the fees and charges associated with that though.
What has everyone else done?

Cheers

Su

biggy

i kept mine open...they will mail ur statements to Oz or if u have internet banking then go for paper free statements.......I left money in there brought a cheque book with me so that when it my rellies birthdays i can send a card with a cheque in

Geordie George

Hi Su,

We also have open UK bank accounts. Means that people can pay money into it for our birthdays and at Christmas (not that we're presumptious or anything ) and that we can also order pressies on British sites and pay for those without having to worry about the exchange rate. (We're thinking particularly sites like Amazon, which also gift wrap. Then pressies can just be delivered straight to the UK recipient and we don't have to worry about posting them in time either - famous last words, I know!). We don't get statements though - all internet based.

GG

Ceri

Make sure you fill a form out in your bank to say you are not a resident any longer, you don't need to pay tax on the interest if you are not in the UK - I have a couple of accounts in the Uk, with Lloyds and Halifax. I'm getting no tax on my interest. Initially I upped and left not sorting anything out, but first year back on holiday, I went into the banks and filled out a form declaring I was not residing in the Uk, so they don't take tax out of your interest. stupid to pay tax if you're not there in the UK.

transferring money - the banks charge you this end, so does your Uk bank to receive it - depending which banks you use, it will depend on the charges

suzysu

I've got access to internet banking and opted for the paperless statements.

I ordered my mum and dads birthday pressies online earlier, so thought it would be a good idea to keep it open for that reason. Plus then, going on holidays back to the UK, i can just transfer from my Oz account to my UK one.

Any idea how much it costs to transfer money from Oz accounts to UK accounts?

Ceri

It depends on the banks you are using/you are with ( their charges - they all differ), take for instance I transferred some money to brother in law quite recently, the other week - his bank took 10 quid out of it to recieve it , here with my bank to send it to him $20

all done over the internet with online banking too - online , or otherwise transferring money overseas is not free like transferring within Aus accounts. Both banks charge.

totally depends on what banks ( receiving and sending) regarding the charges

cheers

gedge

Hmmm, I thought this was the same thread from earlier today.
Keeping a bank account open here.
Worth a read

suzysu

Whoops, didnt see that thread.

Thanks everyone

ABCDiamond

Which OZ bank do you use that allows Online transfers to the UK ?

I don't think that HSBC does it, but I must admit, I haven't looked for ages.

Ceri

They don't charge any extra to send them out to you, I've been recieving statements from the halifax for the last 13 years here and in Singapore.

transferring money depends - LLoyds was always a b*gger taking something like 20 quid out whie Halifax is cheaper to recieve it

Ceri

westpac

P.s you didn't used to be able to do it, you had to go into the bank to do it- maybe a year, year and a half they've ( Westpac) had this , but anyway Westpac you most certainly can. I can totally vouch for that - I use it.

PPS here you go - it will save you the trouble looking for it http://www.westpac.com.au/internet/p...rseas+payments

gedge

That function is not availabe on either the UK or Oz HSBC web sites. I fired off a q to the oz one some time back, but the answer was no, and they don't intend to.

ABCDiamond

I see; they use the SWIFT bank system codes.
HSBC do have that facility, but only use it for those that subscribe to the Hexagon system, mainly companies, especially as it has monthly fees of £30. I used to use that before they brought in Internet Banking.

Westac could be useful, we have an old account with them, with about $100 left in it. I'll have to remember that if I need it

JackTheLad

Are you sure? When I'm doing transfers on the HSBC Oz site, it offers me the option of an overseas transfer (see thumbnail). I've never tried it , but it seems odd to have the option there.

Cheers,
JTL

Ceri

can't honestly remember how long they have had it , been with them for years. I'm guessing a year and half maybe two years they've had this. I didn't take note when it happened - it's recent anyway, within the past couple of years anyway for sure you just pay some charges for each transfer - and the person gets charged the other end of course with their bank charges - same as in a physical banks.