GBP Bank account
#1
Just Joined
Thread Starter
Joined: Apr 2013
Posts: 4
GBP Bank account
I'm going to be moving back to NZ in the next couple of months and given the crappy exchange rate I'm not in a rush to convert.
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers
#2
BE Enthusiast
Joined: Sep 2009
Location: thatcham berkshire england
Posts: 432
Re: GBP Bank account
I'm going to be moving back to NZ in the next couple of months and given the crappy exchange rate I'm not in a rush to convert.
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers
#3
Re: GBP Bank account
Interest rates are practically non existent anyway.
I kept my current account open and still have it now so if you're planning on bringing the money over soon why not just do that? Another alternative is an off shore account if you are going to be tax resident in NZ.
I use a forex company to transfer money, it's cheaper than using the bank
I kept my current account open and still have it now so if you're planning on bringing the money over soon why not just do that? Another alternative is an off shore account if you are going to be tax resident in NZ.
I use a forex company to transfer money, it's cheaper than using the bank
#4
Just Joined
Thread Starter
Joined: Apr 2013
Posts: 4
Re: GBP Bank account
The issue with keeping my current account open is that it requires £800 to be deposited every month. Also it's with Barclays and I really don't fancy the idea of having to deal with them from outside of the country.
And yip will be a tax resident.
I've been having a look at an HSBC Expat. Anyone have any experience with them?
And yip will be a tax resident.
I've been having a look at an HSBC Expat. Anyone have any experience with them?
#5
Re: GBP Bank account
That would be a problem! Mine is just a boring current account that has nothing going in and out most months. I use it to buy stuff online from the UK and I can't recall ever having to deal with them. I keep a nominal amount in there as it's useful to have.
I have an off shore account as well which is earning practically nothing but I'm not planning on bringing that over given the poor exchange rate at the moment
No experience of HSBC but it's early morning in NZ so there should be others on here when they get out of bed or take a break from work
I have an off shore account as well which is earning practically nothing but I'm not planning on bringing that over given the poor exchange rate at the moment
No experience of HSBC but it's early morning in NZ so there should be others on here when they get out of bed or take a break from work
#6
Forum Regular
Joined: Feb 2012
Posts: 87
Re: GBP Bank account
HSBC (NZ) only want premier account customers. If you're not one they are expensive. I don't understand why you don't just open a standard LLoydsTSB or HSBC (UK) account ?
Last edited by BlackCrossInResidence; Apr 11th 2013 at 7:37 pm.
#7
Forum Regular
Joined: Feb 2012
Posts: 87
Re: GBP Bank account
"...and given the crappy exchange rate I'm not in a rush to convert"
An awful lot of us have been saying exactly that all the way down from $2.80 to the Pound.
An awful lot of us have been saying exactly that all the way down from $2.80 to the Pound.
#8
MODERATOR
Joined: Oct 2011
Location: Wellington - I miss Castles, the NHS & English school system
Posts: 9,077
Re: GBP Bank account
can you just change your current Barclays account to just a current account. ?I've still got my Barclay account and like Persephone just use it to buy stuff for the UK friends and family. Also as I use HiFx for money transfer and their account is Barclays as well so it all goes very smoothly and quickly.
#9
Forum Regular
Joined: Oct 2009
Location: Lower Hutt
Posts: 243
Re: GBP Bank account
Nationwide are pretty ex-pat friendly, we use that for paying UK bills.
#10
Forum Regular
Joined: Mar 2013
Location: London
Posts: 248
Re: GBP Bank account
It may be worth looking for a foreign exchange provider now and asking them to explain stop loss orders to you. The earlier you do this, the higher the possibility of saving money before you go ahead with a transfer.
The NZ dollar is strong at the moment and the markets suggest that it will only continue to get stronger against the pound. I would definitely recommend you look at the various types of payment methods available in the foreign exchange market (sooner rather than later!)
The NZ dollar is strong at the moment and the markets suggest that it will only continue to get stronger against the pound. I would definitely recommend you look at the various types of payment methods available in the foreign exchange market (sooner rather than later!)
#11
Re: GBP Bank account
I just kept my Santander current account. Expat accounts are expensive for what they are. I use exe.com to make currency transfers - very easy to do onlline. All the foreign currency accounts I looked at (e.g. Kiwibank) had high fees.
#12
Re: GBP Bank account
I'm going to be moving back to NZ in the next couple of months and given the crappy exchange rate I'm not in a rush to convert.
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers
Can anyone recommend a good bank account to keep a good chunk of my GBP in?
Only real requirement is the ability to transfer money out to other GB accounts easily.
Cheers