cheepnis

i keep a modest balance in my UK account but the bank who i've been with for years are making it very difficult for me to keep it due to their new security routine which involves them texting the account holders UK mobile when performing online transactions.

the majority of offshore accounts require absurd minimum balances or large opening deposits.

so does anyone have any suggestions for £ current accounts that dont have these barriers to entry given that i am a non-resident of the UK?

JB0591

I too am interested in people's experience. I am with HSBC now but I would move if I knew of another UK bank that offered a reasonable account. HSBC have done nothing for us out here (apart from lie to us) and we have moved onto BMO for our Canadian account and I would like to move our UK account.

tonrob

Have you had problems with HSBC in the UK or HSBC in Canada? If they've been ok with you in the UK then I'd stick with them. Opening a new account with another UK high-street bank as a non-resident can vary from difficult to near-impossible with all the barriers banks put up.

J-A-UK

[QUOTE=cheepnis;9652288]new security routine which involves them texting the account holders UK mobile when performing online transactions.QUOTE]

Pretty straight forward answer - Don't give them a mobile number. Or is that too simple?

rich07

Get a pay as you go mobile from UK, just top us needed

snowshoveller

I ran a first direct account from Canada with no worries, but I already had it before leaving UK. I was able to move cash easily between it and my canadian hsbc premier account

Aviator

NatWest Jersey

cheepnis

If you don't have a mobile to which they text you the security code, you can do no more than browse your account. if you want to add/delete payees or do anything more complex and you're without a phone, you're pretty much screwed as they'd text you the security code needed to complete the transaction.

anyway, will investigate natwest (cheers, aviator) & rbs international - since posting to BE, have discovered that the latter may also be able to offer something that ticks my boxes. hang on, natwest=rbs anyway!! santander is like a cancer - didnt know til i checked wikipedia about the sale of all uk rbs branches to them a while back.

ugh, the more research i do into uk banking the less cash i fell inclined to leave behind as they all seem to be in a pretty precarious state.

Aviator

Can they not use text to landline

JAJ

So for the benefit of everyone else, which bank is this?

cheepnis

the number has to be a uk landline, so not very practical from where i'm at. that being the case, the other thing is that i'd need a friend or family member to relay this info every time i'd transact. carrier pigeon would probably be more useful and given that the bank in question is santander, the bird would be a more reliable option.

hamazz

another option is to get an incoming skype uk number and use that, or get a uk based sip number that will ring wherever you want it to worldwide on a mobile or ip phone connected to the internet. i use a uk sip number whenever i am travelling abroad and it rings on my mobile, of course i have to pay data charges if im not near any wifi network, but never had a shocking roaming bill.

Edo

Is that Santander by any chance? Cuz they are known for making their customers' lives hell at any cost.

Rockyhill

Does anyone know the inheritance tax issues if you are a tax resident in Canada but have a UK bank account. I am considering closing my UK cooperative bank account as I don't want my kids having to pay UK inheritance tax should anything happen to me.
PS. The cooperative Bank has been very good to me. Free banking and they post my statement each month to Canada.

JAJ

There are other ways to shed a UK domicile, if that is what you want to do.
http://britishexpats.com/wiki/UK_Domicile-Australia

Inheritance Tax will always be pay on UK-situated assets, if they are above the nil rate band. Losing your UK domicile gets your non-UK assets out of the Inheritance Tax net.
http://britishexpats.com/wiki/UK_Domicile-Australia

Canada doesn't have an inheritance or estate tax, but as far as I know does tax your accumulated capital gains at death (which the UK does not).