uk current account options
 

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?

Re: uk current account options
 

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.

Re: uk current account options
 

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.

Re: uk current account options
 

[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?

Re: uk current account options
 

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

Re: uk current account options
 

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

Re: uk current account options
 

NatWest Jersey

Re: uk current account options
 

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.

Re: uk current account options
 

Can they not use text to landline

Re: uk current account options
 

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

Re: uk current account options
 

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.

Re: uk current account options
 

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.

Re: uk current account options
 

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

Re: uk current account options
 

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.

Re: uk current account options
 

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).

Re: uk current account options
 

If you go with HSBC in the UK and your country of residence, you can go online and into their "Global View" and monitor all of your accounts from one site.

To the best of my knowledge, they never text the account holder when an online transaction is made or tell them you no longer have a mobile/cell phone.

Re: uk current account options
 

natwest will give you a card reader to use in conjunction with your natwest debit card to verify you when doing online transactions like setting up new payments. No mobile required.

Re: uk current account options
 

I assume that this is similar to the HSBC secure key which basically does the same thing? Like you say, no phone needed.

https://www.hsbc.co.uk/1/2/security-...arnMore_Button

Re: uk current account options
 

I was sent a card reader on my smile account (sent to the UK address I use) and I had to use it for bill paying. But several months ago they said not to bother anymore.

Maybe because there was only one bill I was regularly paying.

Re: uk current account options
 

With HSBC UK at least, when paying bills, you only need to use the Secure Key when you pay a bill for the first time to each company from your account.

Re: uk current account options
 

Nationwide also give you a similar thing on their Flex account. Seems to work ok from here so far

Re: uk current account options
 

Have had no problems with Natwest either.

Re: uk current account options
 

Using their mastercard abroad doesn't seem to require advance notice.

Re: uk current account options
 

not sure if anyone has mentioned this but why don't just get someone in the uk send you a a 'pay as you go' UK Sim card and when you do online banking simply pop it into your Cellphone in canada and off you go.....

Re: uk current account options
 

rant

I have to agree 100% HSBC are HOPELESS
I've been with HSBC since they bought the Midland in 1992 and it was all good whilst back in blighty. But since moving here we've had nothing but problems...but our main gripe is if your card is suspected of being used for fraud...which has happened a lot here and in England...they insist on cancelling your card without telling you and sending another. The replacement takes a loong time to get to Canada, and in the meantime you've got no card.

We also had a HSBC account here, but that ended up costing us $$$s in fees and I'm still getting statements dispite closing the account in person, in writing, TWICE.

Oh, and I'm still waiting for a replacement VISA card 12 months down the line after 2 atempts of getting it here, after it was cancelled for suspected fraud.

AND, their offshore collegues are fricking RUDE as hell if you've got a security issue like it's it ME that's commited the fraud.

:thumbdown: HSBC :thumbdown:


/rant

Re: uk current account options
 

Strange, seems to be almost a mirror of the problems we had with A&L Premier account (sadly now Sandander) when we arrived, they cancelled credit card for no good reason, then closed our bank account without our instruction, 15 months on, still waiting for the replacement visa debit card so shut the account - total pants :thumbdown: