What to do with UK bank accounts?
Jul 28th 2013, 11:39 pm
#1
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Joined: Jun 2012
Location: NSW, Australia
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What to do with UK bank accounts?
Hey. Been in Oz for 10 months now (loving it) and finally getting around to considering what I should do with my UK bank accounts, credit cards, etc. I've kept them all active as it is handy for purchasing gifts, etc. All are registered to my mum's home address so statements, letters are all held securely for me.
I'm with Nationwide for banking, and Virgin for credit cards. I haven't admitted to them that I'm no longer in the UK. Most of my savings have been transferred over here. I have left a few quid behind but it has surprised me that Nationwide haven't contacted me yet to express concern that I no longer have an income there! I don't use my UK cards here at all, apart from in the first few months for cash withdrawals (during a period which I told Nationwide via the website that I was 'on holiday' so they didn't consider the transactions as suspicious).
I'm not sure what the legalities are with respect to all this. I'm probably paying tax on savings that I could get back, but the rate is so pathetic I'm not too bothered about that. I find it is handy to still have a UK presence, but also don't want to get in trouble or have something annoying happen like have my accounts frozen.
Any general advice greatly received.
Cheers
I'm with Nationwide for banking, and Virgin for credit cards. I haven't admitted to them that I'm no longer in the UK. Most of my savings have been transferred over here. I have left a few quid behind but it has surprised me that Nationwide haven't contacted me yet to express concern that I no longer have an income there! I don't use my UK cards here at all, apart from in the first few months for cash withdrawals (during a period which I told Nationwide via the website that I was 'on holiday' so they didn't consider the transactions as suspicious).
I'm not sure what the legalities are with respect to all this. I'm probably paying tax on savings that I could get back, but the rate is so pathetic I'm not too bothered about that. I find it is handy to still have a UK presence, but also don't want to get in trouble or have something annoying happen like have my accounts frozen.
Any general advice greatly received.
Cheers
Jul 28th 2013, 11:42 pm
#2
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Re: What to do with UK bank accounts?
Nationwide at least have no problem with you being in Oz: I have kept my N/W credit card and my Barclays a/c (both know my address here) and have a pension paid into Barclays so that I can use the credit card and pay it off from my a/c. Very useful when I'm in England.
Jul 28th 2013, 11:45 pm
#3
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Re: What to do with UK bank accounts?
Still got my Lloyds account and credit card - they have my Aussie address on file, and like Wol find its very handy when back home on holiday 
Jul 28th 2013, 11:57 pm
#5
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Re: What to do with UK bank accounts?
Jul 29th 2013, 12:37 am
#6
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Re: What to do with UK bank accounts?
Consider it done!
Jul 29th 2013, 3:07 am
#7
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Re: What to do with UK bank accounts?
Thanks all for the comments. I think I'll just drop Nationwide a message via their online system and let them know the situation.
Cheers
Cheers
Jul 29th 2013, 6:14 am
#8
Shiny Arse Know All
Joined: Apr 2010
Location: Adelaide, somewhere
Posts: 14,180
Re: What to do with UK bank accounts?
Virgin have no issues either. I've still got my virgin CC for gifts etc and have it registered here
Jul 29th 2013, 10:12 am
#9
Forum Regular
Joined: Mar 2009
Location: Hampshire
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Re: What to do with UK bank accounts?
Hi everyone,
I was just going to post the same question although I'm not there yet, I fly a week today.
Thanks for clearing that question up.)
I was just going to post the same question although I'm not there yet, I fly a week today.
Thanks for clearing that question up.
)
Jul 29th 2013, 10:13 am
#10
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Jul 29th 2013, 10:15 am
#11
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Jul 29th 2013, 10:31 am
#12
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Jul 29th 2013, 11:22 am
#14
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Re: What to do with UK bank accounts?
Last I looked, you can change your address, including to an overseas one, with Nationwide by using online banking (you will need to use the passcode device for this I think). However saying that, their online banking seems to be currently down.
Jul 29th 2013, 1:16 pm
#15
Forum Regular
Joined: Oct 2009
Location: Melbourne, Australia
Posts: 253
Re: What to do with UK bank accounts?
Yes, Roaringmouse is correct. I was able to do this change of address (and telephone contact details) online for my Nationwide flexaccount - I had to use the card-reader to be able to log-in