ballyhoo

Help.

Did you tell your bank manager that you are/were emigrating, or did you just leave the account open.

We have a good relationship with our bank manager, but I am a bit wary of telling him as I don't know what the implications are.

Can you advise - please.

Merlot

If you can keep your bank mail going to a UK address this is better.

My Abbey account used to send my statements to Australia no worries, then they changed the system and my statements were still sent to Oz but rather than dealing with the usual branch it was with an "Overseas Dept" and they were always trying to get me to close my account and go offshore!

Suppose all banks are different.

M

joho

We have our house still in Uk and therefore needed to keep it open. TSB have been fine about it and I still have my life insurance coming out of there as well as the mortgage. No probs so far. Didnt bat an eyelid when we changed our address to OZ. I would imagine that as long as you keep money in it there will be no implications.

Jo

Geordie George

A lot of our UK post (bank, credit card, pension stuff etc) gets sent to my MIL's UK address and she then sends it over every few weeks. Mainly because we moved into a B&B for our final few weeks in the UK and are only renting our place here in Sydney on a six month let while we decide where to buy. It saves all the admin of constantly changing addresses.

In particular, having a UK address for a UK credit card makes things easier when you buy stuff on-line.

GG

JackTheLad

I left all my UK accounts open when I came here, and am gradually closing them down now once I'm sure all Direct Debits etc have stopped. I'm also writing to the remaining ones to ask them to stop charging me tax on interest, cos I'm no longer a UK resident!


JTL

gedge

We've still got our HSBC UK accounts open. I made sure that the MIL was given access by the bank, authorised signatory. Then I stopped all paper statements, and ensured we had internet access to them. Then changed our address to that of MIL.
It works fine. If we need to buy pressies or have any banking needs in the UK, it's easily done. We left enough cash in there for such things, and it'll be handy to have an account and cash card when going back on holidays.
As JTL said, it may be worth saying you're not a UK resident for tax purposes.

ABCDiamond

I told my UK HSBC Manager I was moving, and he helped me in getting better FX rates for my transfer. He even suggested I open a UK savings account for my daughter before I left, to make it easier for relatives giving presents ie: money for Birthdays etc. Also, he sorted out the forms to get the interest tax free for me.

Merlot

That is when it came in handy for us, both giving/buying in UK ££££ and getting them back in the way of pressies.

M

GinaUK

You may want to check the small print of your life insurance policy. It may only be valid as long as you are a UK resident. In other words, as you're now living in OZ, the policy may be invalid (in which case you can take out a policy with an Australian company).

Gina

Merlot

See latest thread on that one

http://britishexpats.com/forum/showt...life+insurance


M

GinaUK

That was exactly my point! Policies do differ; that's why it's important to check the small print. Otherwise a person may *think* they've got life insurance, but if they need it may find out that the policy became invalid due to the move to Oz.

Gina

JAJ

A good life insurance policy ought not to have a clause like that, but it's important to check.

And if it does, give strong consideration to complaining to the company at the highest level before you stop paying the premiums.


Jeremy

joho

We checked with them before leaving and its fine as Australia as deemed as similar risk to Uk. But thanks for the tip anyway.

Jo

hedgehog-girl

Me and my boyfriend kept our bank accounts open (if we stay longer then we will cancel them) but we also advised both banks in writing in case anyone got hold of our details and started to pay for things in the UK. This way, we still get our accounts but if any transactions happen from the UK our Banks know to contact us straight away and put a hold on the account. Just being safe.

gruffbrown

Still have mine after 18 months, seemingly you can keep it open for a year. best not to tell them you've moved overseas, telephone banking (first direct) comes in handy sometimes! By the way the Inland revenue and DHSS are very helpful (that's a first) when it comes to claiming your pension overseas. Make sure you ring them to tell them your situation...I got a rebate :-)

Andy