BC Hopefuls

Hi,

We have had our PPR and are moving over in March. I want to keep my UK bank account open so income paid in sterling can be paid into it.

I know many of you have kept your UK bank accounts open and I wondered if you had to give a UK address or are they happy to take your Canadian address?

Thanks for the help.

kt0157

Some people have reported trouble from their UK bank, who have given excuses like "it's illegal under money laundering regulations" which is complete and utter toss. If you get hassle, push back against the "computer says no" morons and ask to speak to someone who has an IQ higher than the boiling point of water.

K.

Cookie

We intend to keep our UK bank accounts open. Mastercard have also told us we can keep our UK credit card and use it in Canada as long as we advise them of our new address for billing. We intend to do this and at the same time take out a Canadian credit card and build up our credit limit from scratch.

BT Internet have also told me I can keep my email account open for a few months after I leave, giving me time to get a new Canadian email address (saves having to get a Hotmail account. My office is banned from receiving emails from hotmail).

dkvl

I have kept a UK bank account and UK credit card - no problem,and they have my Canadian address.

Deborah

Atlantic Xpat

I bank with First Direct. They have happily kept my account open, send correspondence to my Canadian address and let me use my credit card. I did spin it to them that I was moving to Canada for an undetermined period which could be forever or could be n years. The only potential issue with FD is their announcment that one needs to keep GBP1500 in the account or pay a tenner a month. So far not a problem but could be in the future.

Voyager970

We kept open one UK bank account to service our life insurance policies for me and the wife, bank had no probs with that

Bear that in mind when you move, that your life insurance is still valid when you move to another country. Get it in writing from you insurance company that they will keep your policy active as long as you pay them.

Insurance company were not bothered either, as long as they got their payment from a UK bank account

Eddie

kt0157

It needs to be "pure" life insurance otherwise the Canadian Revenue will want to hear about it as a foreign investment (and potentially tax it).

K.

Daedra

Works the other way around too (for any vice-versa situations reading this thread), when I moved to the UK kept my Canadian bank account open (although not much activity in it & removed the monthly service fee options prior to leaving) with my UK address for the statements to be sent to. Just a way of having something in place should (god forbid) any family or other emergency that comes up which requires a local bank ASAP.

JAJ

MOST UK banks are perfectly ok to send statements to a Canadian address. Same goes for credit cards.

Most of the reports where people have had hassle refer to the "internet" banks.

One point to bear in mind. Do keep some "activity" in your account otherwise the bank may think it's dormant (lots of hassle there). One way is - if you have two UK accounts - is to set up a standing order in each account to pay money to the other one every few months. That way the money "shuffles" and the account stays active for all time.

snowgoose

Ditto - with Alliance & Leicester. Very helpful; they also have a UK c/o address with a family member, just for back up

BC Hopefuls

Thanks for all the info. As ever, you guys are great.

yonk

According to their blurb, if you have another product eg the credit card, you're fine and won't be charged. Even the easy access savings account will count so you can sit and put money back and forward online to avod the charge - no hassles.

Canada Jane

We kept both our Halifax and HSBC UK accounts, with our Canadian address, no problem.

Iain Mc

We've yet to move but we've been assured there'll be no problems from any of our banks: that's Lloyds, HSBC and Nationwide.

We've also had a Canadian HSBC account for the past two years, no problems there either.

I'm presuming when you move you let the UK banks know you're not to have UK tax deducted on interest and instead include it on your Canadian tax returns?

We'll be going to see an IFA next spring about all this and what to do with pensions, etc.

Cheers, Iain

Pamela 1

We had Building Soc. accounts put into our Canadian address when we left and there was no problem.

We have since closed them and wish we had'nt, have heard it is difficult to open a new bank account. I will post this on new thread because it doesn't fit here.