Banking dilemma
 

My first post to this forum and I'm hoping somebody can help me out. I seem to have hit a catch-22. To open a bank account in Scotland they require proof of residency (eg. utility bill in my name) but I need the bank account to transfer money into in order to purchase/rent the home and gain residency status. My British passport is not enough to open an account. So, how can I do this as I will be staying with friends initially and have nothing in my name? I did check with HBSC and they want a considerable amount of money invested and were not terribly helpful otherwise.

I have decided to return to UK after many years in Canada and I'm at the stage of looking into tax obligations, pensions and banking but I'm hung up on this banking snag. Any help would be appreciated. Thanks!

Re: Banking dilemma
 

Hi and Welcome to BE.

Try this link: http://www.justlanded.com/english/UK.../Money/Banking

"Another option that can sometimes be a lot easier is to open an account with a bank in your country which has branches in the UK. In this case, the process is usually a lot easier, especially if you then get a letter of recommendation."

We had the same problem when we moved to the UK many years ago. I thought they would have sorted it by now to make it easier. :(

No doubt it can be done somehow.

Good luck!

Re: Banking dilemma
 

We were discussing this here One suggestion was HSBC in the country you are in and at the same time in the UK theres a link on page 2.

Re: Banking dilemma
 

Try Lloyds TSB except you should be aware that if you open an account at a Scottish branch it will probably be "sold" to someone else:
http://www.lloydstsb.com/current_acc..._to_the_uk.asp

Separately, make sure you have your Canadian citizenship before you leave.

Re: Banking dilemma
 

Of all the main UK banks, this is the only one that addressed this dilemma on their website giving a coupole of options for resolving it. As an aside, I found it to be the best website of all the main UK banks that I looked at.

http://www.hsbc.co.uk/1/2/personal/t...l/moving-to-uk

Re: Banking dilemma
 

One option is to open a pound sterling current account with one of the banks in the Isle of Man, at your address in Canada. LTSB is one choice, there are several others. These are within the UK banking system, with branch sort codes etc., but specifically marketed to folks living abroad in the US and Canada etc. You'll get a cheque book, ATM/debit card etc., so can use it for all necessary purposes in the UK then transfer the account to a domestic branch when you are settled in the UK.

Re: Banking dilemma
 

Thanks to all for your suggestions and the links to websites. I did check the HSBC website and then went to their bank here in Saskatchewan but they weren't very helpful at all unless I were to invest a substantial amount with them. I will look into the Isle of Man banking as one person has suggested and will ask my daughter in Glasgow if she will make enquiries in Lloyd's bank for me.

I don't understand why there should be such a problem with this. If I have to rent somewhere for a while to get a utility bill in my name, so be it.

And yes, I have dual UK/Can citizenship.

Re: Banking dilemma
 

Two reasons, a. British banks don't really want new business as they see it as loss making, and b. the "money laundering" laws give them a good excuse not to accept it.

Isle of Man banking is an option, but you should understand that the deposit protection arrangements in the Isle of Man and Channel Islands are limited to non-existent. You can use the account for transactional purposes, but don't put too much money there.

Re: Banking dilemma
 

Go for HSBC! They will set up a UK account for you. Also I believe for certain accounts transfers between HSBC accounts (in any country) are free. Also it is easy to transfer money back and forth and it can be done online! Also they will transfer your credit history if you want. Hope this helps!

Re: Banking dilemma
 

Really? When we moved to Canada, there was no way to transfer credit history from one country to another, and I don't find it on their site - where di you find this please?

And transfers weren't free, but they were a lot cheaper within their banking group.

Thanks :)

Re: Banking dilemma
 

HSBC said that they would issue a credit card using the credit information from the other country. Also there was no fee transfers on their Premiere Accounts. Hope this helps