Need to switch UK bank
 

Advice please.
We are longtime Canadian residents looking for a UK bank account for monthly UK government pension deposits and to use a debit card when traveling there.

Barclays switched our UK high street joint account to a Guernsey offshore account when we emigrated in 1977. Happy to keep this with no monthly charges until 2009 - but then they started piling on costs and the need for substantial assets in the account.

Switched to the Co-op / Guernsey non-resident current account in 2009, with no monthly charges, no minimum deposit and a free debit card, which is useful when traveling to see the family in the UK. Great bank!

The Co-op are now 'simplifying' their business ie. closing up shop offshore. Saying goodbye to non-residents. We cannot switch to a Co-op UK account because of our Canadian address, already registered with them.

We need a simple UK bank/building society current account for UKP deposits, cheques, and a debit card. Nothing fancy! No investments. No savings.

Has anyone successfully opened a UK account from Canada recently?
Thanks

Re: Need to switch UK bank
 

I would rather have UK pensions pay it into my Canadian bank account & use the money, then when going to the UK just take GBP with me when going over

Since you asked - one option for you below

http://www.expat.hsbc.com/1/2/hsbc-e...ple-currencies

Accounts in a wide range of currencies
Available in sterling, US dollar and euro, our expat Bank Account can be linked to a range of debit, credit and charge cards. We also have savings accounts in 17 currencies - so you can choose accounts and cards that cover everything from paying your bills back home to travelling overseas and saving for your future.

Re: Need to switch UK bank
 

This is what they ask for
"The minimum balance for our individual offshore accounts is:
Bank Account: £5,000, US$10,000 or €10,000
However, you also need to maintain an overall minimum relationship balance of £25,000 or currency equivalent across all your HSBC Expat accounts and investments."

Can't do that. Not in my league! What I get by way of pensions, I spend there. And keeping a UK account I avoid currency charges.

Still looking.

Re: Need to switch UK bank
 

HSBC in Canada offer GBP accounts. No debit card though.

I gave up the UK banking game years ago and just take credit cards when I go to the UK, which I have to do shortly. Now I am not working, I also take CAD travelers cheques for cash.

Re: Need to switch UK bank
 

As you appear to be a Canadian tax resident don't forget to report this income on your Canadian Income Tax Return. Even if you don't import the funds to Canada it is still taxable. The CRA will know that you are eligible for a UK pension from your immigration records and if you don't report it they just might not be too happy. In fact if or when you apply for a CPP or OAS the CRA will offer to help you get your British pension ! At least that's what the offered to do for me. They know !

Re: Need to switch UK bank
 

never considered that point or that the OP was even going down that road:ohmy::ohmy:

Re: Need to switch UK bank
 

@khakh
I would imagine a similar offshore account would be the thing - although there are probably charges.

New UK banks accounts are supposed to be for UK residents, but appear to be okay to then continue when moving abroad. Many of us do that as if still UK resident; just using a suitable UK address.

I wonder if there is actually anything wrong with opening a UK bank account, as if returning - physically present in the UK - but then "moving" back to Canada as if a change of heart had taken place?

Re: Need to switch UK bank
 

There is a useful website that shows what ID is required for each bank.

https://www.moneyadviceservice.org.u...-bank-accounts

I noticed that Nationwide will accept overseas bank statements/utility bills for proof of address, so I presume that theoretically you could give them 'any' address in the UK initially, show proof of address with a Canada bank statement, then change your address online once it is opened.

Several members of my family have Barclays and Nationwide bank accounts and they send their statements to Canada directly.

The other alternative is to open a joint account with someone in the UK and then remove their name after a month or so. (My sister did this, lol).

:)

Re: Need to switch UK bank
 

Thanks for the suggestions, partic Siouxie's website and workarounds :)
My UK pension is declared in Canada.
What hurts are currency conversion and transaction costs charged by the banks. As frequent travelers, that's why keeping a UK account (for me and mine) would be a good thing. Also have a small USD account and a USD Visa card with a Canadian bank (no monthly charges) for the same reason. To avoid those charges.
Keep the ideas coming. There may be light at the end of this tunnel - and I can't be the only Brit living in Canada about to lose their Co-Op current account.

Re: Need to switch UK bank
 

Try First Direct (a trading name of HSBC). We have an account with them and have statements etc sent direct to Canada, so they definitely know where we are.

Also they are set up as an internet and phone bank (ie no branches - although you can use HSBC branches) which may better if you are dealing with them from Canada.

Good luck