Bluegrass Lass

Thanks for the info JAJ. Hubby is a naturalized citizen so there aren't any abandonment issues.

Beedubya

Why can't he just keep his US bank account open and access the setup money from an ATM here using a US card, that's what I do using my Australian account, just make sure the card has a "chip" in/on it.

I did have a few problems opening up my HSBC bank account here, but from what I have read on here each bank seems to have different rules.

Dashie

Wouldn't there be a fee for each withdrawal? And that would be a lot of withdrawals through an ATM! We did that a bit when we came from the UK to Canada, but it added up pretty quickly.

robin1234

Each bank is different - my bank (a local US Savings & Loan) refunds all fees imposed by foreign (e.g. British) ATMs up to a limit of $5 per transaction.

Bluegrass Lass

Well, considering he's going to be putting about £5k downpayment on a car, that's a lot of money to withdraw from an ATM. And considering he could only withdraw a max of $1k/day from our US account, that's a lot of withdrawals (not even considering the foreign transaction fees).

Also, US debit cards do not have 'chips'. I've never seen one that does. We bank with US Bank (a large national bank) and they don't have them.

Also, I assume that his salary can only be paid into a UK account, not a US account, so that necessitates opening a UK account. Since we are actually moving there, its a good idea to establish banking and credit there as well.

Beedubya

Better to have access to your own money rather than deposit it into somebody else's account? My fees are very small though.

Beedubya

I was only making a suggestion. I contacted my bank in Australia and told them I was withdrawing a large amount on a certain day and they arranged for me to do that.........

You better not use your US debit card at the Co-op then, if it has no chip as it won't be accepted.

I met up with a lady from BE the other week, she has come back to live here too and opened a bank account with Lloyds with just her passport.

Dashie

I agree. There are several banks that will let you open an account before you arrive, it's what we did with most of our money when we came to Canada, we were actually planning to move to New Zealand, and got as far as opening an account there too. It's pretty easy to do Most banks will tell you how to do that on their website, HSBC was my suggestion as that's who we used, and it was easy to do.

Bluegrass Lass

I guess HSBC doesn't automatically open bank accounts for returning ex-pats. He filled out the online form, and they said it would take up to 2 weeks to make a decision, and I believe he will still have to go to the bank and show his id. Lloyds had the same thing, they wouldn't progress any further online without his coming into a branch and showing id. So now I don't think we'll be able to get this sorted before he arrives on the 20th.

Dashie

That's weird when they keep advertising how helpful they are

Maybe just have to try and work something when he gets there - can he and his sister (?) open a joint account to get him started to avoid the proof of address thing?

Jerseygirl

UK banking laws are very strict...unlike the US. If he goes to the bank the day after he arrives and opens an account you can then transfer the money electronically...it should be in his account within 24/48 hours.

DDL

I'm American and moved here last August. Immediately upon arrival (even before I had a job)I opened a very basic bank account online with Halifax. No hassle whatsoever. They sent me a debit card straightaway.

I use XE.com to transfer money from my US bank account to my UK bank account. Takes about a week, though.

I've used my US debit card successfully at cash pointe machines but, Barb, I've never tried it at a Co-op.

Hope this helps.

Bluegrass Lass

Thanks DDL. My husband was trying to get an account opened and sorted before he physically arrives in Scotland. He's been told that he needs to go into an office to show his identity documents before they will proceed with opening an account, even though they make it sound like it can be done all online.

I'm sure he'll have to use this US bank card a few times for food and petrol before the wire transfer from the US arrives. We've used our bank cards over there before when on holiday, so that shouldn't pose too much of an issue I hope.

If we are transferring GBP10k, will we have to fill anything forms out from a customs standpoint? I know they get all finicky about sending more than $10k in a transfer.

Beedubya

Don't customs only want to know about actual cash on your person?

celticgrid

As pointed out earlier by JAJ look at the Isle of Man and Channel Island options. They can definitely open an account without the need for physical presence. Yes, you'll need to send certified copies of some documents, but you can open accounts remotely. They are geared up for this sort of business.