Re: Banks!
 

I have many other UK current accounts to fall back on if they attempted to do that. Though the simple thing to do would be to change it back to my UK address.

Re: Banks!
 

Have just changed my address at UK bank to my US address with no problems, apart from providing ID as i could not go in branch to do it.
The reason i changed was because i often used my UK card for purchases here in the US, but when asked online for billing address (UK) i could not put it in as sites were set up for US address's.

Re: Banks!
 

You make my point well! You set up autopay but they send you payment slips because their default assumption is that you will send a monthly check. That is archaic.

Re: Banks!
 

So, I use Barclays as my UK bank. I have done since I was young, as my uncle was a branch manager for them until he retired.

Before I moved, I changed my address to the US, and I've had no problem. Statements are still posted to me each month.

There are a few things to be aware of with Barclays before moving:
1. Their phone app only works with UK mobile numbers. You need to use the computer for online banking.
2. While they can send international mail, branch staff told me that staff aren't allowed to call international numbers. You can give them your US phone number, but it will never be used, other than if you need to verify it for an identity check.
3. Their online banking works best with a PINsentry machine. These take weeks, if not months, to arrive, if ordered from the US. I don't understand why. It's better if you can bring one from the UK.

Re: Banks!
 

The following banks now have FATCA information on their sites.

HSBC:
Foreign Account Tax Compliance Act (FATCA) | HSBC

RBS:
https://www.supportcentre-rbs.co.uk/...4022/related/1

Barclays:
FATCA | Barclays

NatWest:
https://supportcentre.natwest.com/ap...4011/related/1

I've yet to find any information on the sites for Lloyds, Santander, or TSB. If anyone has discovered these, please let us know.

Both the NatWest and RBS sites make the following statement:

"(The bank) is working towards compliance for the FATCA classification of all its customers by 30 June 2016 as per the regulations."

It may be awhile before requests for W-9's and a statement to allow the banks to divulge your information are sent to all customers with US indicia.

Re: Banks!
 

All very useful advice. Of course you can get a UK SIM card for free, and use it in an unlocked US phone. I swap SIM cards when expecting a "fraud prevention call" from Barclays. I fully understand and appreciate the bank's fraud prevention efforts, but it does mean that when you do some transactions abroad, they want to check. Anyway, it also allows you to set up the Barclays app on your iphone/ipad.

I set up a Draytel account years ago to establish a UK geographic number (01/02) that rings my computer here. I did it so family in the UK could call at UK call rates (usually £0 for UK calls). But it's also a number Barclays can use.

Fortunately, because we have a place to stay in the UK, we haven't changed to a US address. And as someone else mentioned, the restriction that some sites have about shipping things bought online to the card address only, means it's easier when we want to have things shipped in the UK.

I do hope that common sense will prevail, and that UK banks will figure out how to support USC customers without any extra palaver.

Re: Banks!
 

I use the Barclays app on my US mobile with no problems. Also, the app has mobile PIN Sentry so no need for the physical PIN Sentry device.
When I got the new US phone I just downloaded the Barclays app and away I went. However, I think my Google account was still set up as a UK one at the time I downloaded it and I've since changed it to a US one. The app still works. As far as I remember there's no link to a mobile number so that's not a problem. I think it's the fact that the app is only on the UK Google Play store (for Android phones) and UK App Store (for iPhones) that's the initial issue. If you switch to UK temporarily just to get it downloaded and set up you should be good to go though.

Re: Banks!
 

For those that care, their process has started. I received paperwork from Isle of Man Bank (part of the RBS empire) requiring me to confirm details of both residency and citizenship.

Re: Banks!
 

I've had a letter from HSBC UK asking for IRS Form W-9 OR IRS Form W-8BEN.
We moved here (New York) in mid November this year (2014) so for 2014 we are non-resident for tax purposes. From Jan 2015 we will be resident for tax purposes. We have a deposit account in the UK, no other investments or savings (in the UK). In the US we have a savings account (also with HSBC).

I'm an H1B visa holder and my husband is an H4 visa holder. We've both had the letters.

I'm unsure what forms we need to complete as surely we don't need to complete any for 2014 (just write and advise them of the situation?) but then we do for 2015? Also, the W-9 and W-8BENs don't seem to be applicable to my husband at all? As we won't file a tax return until the 2015 tax year as resident my husband wouldn't get a TIN until early 2016 when it will be applied for with the tax returns.
Could someone clarify please?

Thanks

Re: Banks!
 

both my lloyds and first direct accounts go to my US address. no issues so far (in 7 years)

Re: Banks!
 

The issues will start in 2015 as the UK readies itself for FATCA compliance by June 2016 for all pre-existing, June 2015 for HNW (over $1m). After talking to many colleagues who are working in the FATCA area, the consensus seems to be that many FIs will ignore the thresholds set by the IGA and just report all accounts with US Indicia.
If you don't respond to requests from the retail bank, they will mark you as recaltricant and it will be a company decision if they will kick you out. By reporting your account, they are complying with FATCA/IGA so they don't have to kick you out.
The amount of resources and funding that have been thrown at FATCA compliance, IT development and of course "consulting" is unbelievable and will not yield much in the way of actual revenue or meaningful data.

Re: Banks!
 

Hi all,

I'm moving to PA in the next three months on an L1 and would like to get some stuff sorted before moving. I bank with Lloyds in the UK and saw they offer an international current account which I qualify for:

Guidance - foreign & multi currency accounts - Lloyds International

Is this something I could use/setup now? Do I still need to have a US bank account (I am transferring to the US part of the company i work for for 2+1 expat contract)

I read somewhere else that before I can setup a US bank account I need a permanent address and an SSN.

Re: Banks!
 

No.

You can use work address. Give them SSN when you get it, till then, it just won't be a interest baring account, but you won't be losing out on anything.

Re: Banks!
 

However, you will still need to file a U.S. non-resident tax return (1040NR) if you have any U.S. source income in 2014. Wages/salary etc. Probably also a New York State income tax return on the same basis.


In theory you might be able to give them a W8-BEN for 2014, but you are going to need to give them a W-9 for 2015. So, as it's 2015 already, it may be simpler just to give them a W-9.

You husband can use form W-7 to apply for an ITIN. Normally, an ITIN application needs to be accompanied by a tax return but there is scope to apply for other reasons. Perhaps state on the form that the reason for applying is that a non-U.S. bank requires the number to be provided (by a U.S. resident) for FATCA purposes. It may help to include a copy of the letter from the bank.

The upside is that the ITIN can subsequently be used for tax filing, without needing a separate application at that time.

Re: Banks!
 

The requirements to open a bank account with a US bank are:

(i) proof of your name
(ii) proof of your date of birth
(iii) proof of your (an) address, and
(iv) a government-issued ID number, which is most commonly a SSN, but a passport number, DL number, or any other bona fide unique ID number issued by any government meets the requirements of the USA PATRIOT Act.

Whether any given bank will accept "non standard" ID numbers issued by foreign governments is a matter for that bank, but most are likely to accept a British passport to evidence name and DoB, and provide a government issued ID#. Evidencing an address may be the biggest challenge.