punktux

Hi all

I am moving to LA within 2 months and prob. can't come back UK for half a year due to personal reason

I was wondering, if I am not physically possible to be in a bank branch in UK(I am with HSBC and RBS), how do I settle my UK bank affairs over there in LA???

things i'd do including paying money to my friends in UK, setting up or cancelling direct debit, transferring money to UK bank accounts or US bank accounts....

Can all these be done with telephone banking or internet banking??

I was told the only thing I can do once I am aboard is to hand write a letter with details on what I want to do and send the letter by post to my branch in UK. Obviously it'd take long time. So, I am thinking to leave HSBC a written consent saying I authorise myself to handle anything on telephone....do you guyz think it's possible????

pls helppp... thanks

dbj1000

There are two levels of authorization available. NatWest (and all other banks, I'm sure) will allow you to fill out forms to nominate another person who may have access to your accounts. There are limits to what they can do, I believe, and I don't know the full details because we didn't go that route. If you've been told about a "hand written letter" by anyone other than your banks manager or their specialized banking section then it's crap. Certainly sounds like crap to me. There are forms and procedures for what you need, no some random letter!

The more effective, legally binding and complete approach is to give someone legal power of attorney in the UK. This involves paying a solicitor to draft the documents, but it's worth it. We gave power of attorney to my parents. This gives them legal rights to do anything we can do regarding our business/banking/tax affairs. However, given that they can do anything they want with your accounts, you need to have total trust in the person you assign this power to.

When presented with legal power of attorney documents, your bank manager will authorize full access to your accounts to that person. At NatWest this included adding all our various bank accounts to my parents' online banking, telephone banking etc., and giving them access to everything.

I don't remember how much this cost us, but it wasn't much, was very quick and has worked great. Just don't give power of attorney to a "good mate" - with this in place the person can (in theory) empty and close your bank account, stop you from accessing the accounts (seriously!) and pretty much anything else they may want to do.

punktux

dbj1000 thank you very much for your reply

unfortunately i am living alone in the UK(family is outside UK) which means i have no trusted ones to assign the power to.

are there any alternatives based on my case?

tony126

I know do all my UK banking via the internet. I cannot see what your problem is. Standing orders will still remain standing if you have set them up and you can transfer money where you want to. I am with Nat-West.

punktux

thanks tony it's true direct debits or even paying people within UK can be done with internet banking..

but sending money overseas'd definitely requires tighter identification check...if i am physically in UK, i can just pop in the branch and fill out some forms for transfer but i can't come back UK within half a year

BritGuyTN

set up an account with www.xe.com

online tranfer to them from your Uk account to their Uk account - normally free and no hassle

also you will save a shit load on fees and the banks crap exchange rate

Big D

I do all my banking over the internet but have not had to transfer cash to the US although you could maybe use some of the fx services to transfer. Alternatively use your debit card to buy things over here? Depending on bank the rates are good although some have started charging a fee now.

MiniBrit

Yep, I did exactly this with via the internet with xe and Natwest. Easy-Peasy!

tony126

I use XE as well. No problems when you are set up.

Dimsie

I'm with HSBC. Before I moved over here last autumn they advised me to have a "Fax Indemnity" drawn up - it's a simple matter of signing forms at the bank. This means that when you are abroad you can Fax instructions to them, rather than send by snail mail. I used this process to have money transferred when buying a house. I'm not sure whether it would help in your case, but you could ask about it before you leave the UK.

Partystar

I'm with LloydsTSB & I've been using my UK bank account over here for the past year. I've done everything online, payments to people, transfers etc. My mum puts my cheques in my account for me & other than that, the only thing I haven't been able to do from here, is change the type of account that I have. They told me to write a letter & send it in the regular mail, something that I am still putting off until this day! I should really get around to doing that!!! I still need my account, as I am waiting on a tax rebate to be paid into it, but I will close my account down once I've used it for all it's worth & drained my resources, I will do this whenever I'm back in the UK next, probably in 2 years time (shame)!!!

Elvira

OMG I hope you don't mean that you are planning to close your UK bank account?

This would be madness - you'd never be able to open another one. Even if you don't need it at the moment, you almost certainly will at some point in the future. And if you were to return to the UK, you'd find it difficult to open an account until you're once again established and have utility bills, are onthe electoral roll etc.

No expats should EVER close their UK bank accounts!

Partystar

I've got load's of them!!! That's what sux, I have such an awesome credit status back home that banks are always throwing money at me!!! It's a shame that you can't just 'transfer' your credit status!!!

Elvira

I think there are quite a few threads here on how to get on the credit status radar in the US - do a search!

Partystar

Thanx for advice. Not really too bothered about it though, my husband is American & I have been building up his credit since we met nearly 6 years ago (he was awful at paying bills etc) & he now has a great credit score. I'm just glad I have a brain, otherwise we'd be screwed right now!!!