How to handle bank accounts
 

I am an EU national, currently living and working in the UK and possibly moving to the US before Brexit and the whole thing is making me a bit concerned about what to do with my bank accounts and savings.

Does anyone know if I'll be able to keep a UK bank account active when I'm no longer a resident, especially given that I'm an EU citizen? I would like not to have to transfer all my savings on the UK bank account to the US and deal with currency exchange. Would a bank like HSBC that also operates in the US be an option for me?

Re: How to handle bank accounts
 

I think you'll just keep your bank account.
It's always handy to have something back home.

Keep in mind if it ever goes above $10,000 equivalent at any time it has to be reported on your US tax return.
Search for FBAR. You may as well read up on FATCA while you're at it.

What visa are you moving to the US on? If it's an immigrant visa that may have some relevance in the future but I don't think it's anything to be concerned about immediately..

Re: How to handle bank accounts
 

Thanks for the reply - I think the caveat is that I'd no longer ne a UK resident and I'm an EU citizen and my understanding is that your bank account needs a valid UK address. I would likely be in the US on a non-immigrant L1 visa.

Re: How to handle bank accounts
 

I've still got my Nationwide Building Society account, and changed the account address on it to my US address with no issue.
Others will pipe in I'm sure...

Re: How to handle bank accounts
 

If you were a UK citizen then it would be a no-brainer about your bank account, keep it open. Whilst some people have had the odd issue, I think most of us have successfully managed to maintain UK bank accounts using a non-UK address. However, a UK citizen is going to be able to return to the UK and work without any problems after Brexit.
Since you aren't a UK citizen, you may not be able to return to the UK to live and work once you have left for the USA. In which case, you should probably consider closing that account and putting your money in your home country. I had bank accounts in France which we closed about a year after leaving since we didn't see us returning, and that was before Brexit was even an evil twinkle in Cameron's eyes.

Re: How to handle bank accounts
 

I've been out of the UK since 2002, have lived in Asia and now Australia, and still have my UK bank account. My husband went the clever route, looked for an international bank, had all sorts of issues with HSBC and eventually closed his account. First Direct has also been ridiculous - I can't remember why but he had to have a video chat with them a while back to (re) prove his identity.

Mine is the Yorkshire Bank account I have had since I started work (a few, ahem, years ago) and they have been great. They know where I am, they send me replacement cards and tax information now and then.

Re: How to handle bank accounts
 

I found HSBC a difficult bank to deal with and no longer use them.

I use Transferwise and NatWest as my UK bank account.

Re: How to handle bank accounts
 

I have UK and US bank accounts with HSBC and have not had any problems with them, it all went very smoothly.

Re: How to handle bank accounts
 

Re: How to handle bank accounts
 

Hi, my wife and I are relocating to the US in late February and after advice I found on here I've open a HSBC UK account.
My intention is to open a US account when in country and use that to feed the UK account to service mortgages etc.
Currently my main account is with the Halifax and I was going to close/switch this to the HSBC account before we leave.

Does this make sense?
Thanks,
Gordon

Re: How to handle bank accounts
 

Does HSBC charge fees?
I kept my Nationwide account and I've been here 20 years.

Re: How to handle bank accounts
 

You should be able to open a US HSBC account while still in the UK. We managed this and it took a couple of visits into our main branch to complete paperwork. When you move to the USA you can then change address to your new US address with both HSBC US and UK.

Re: How to handle bank accounts
 

We banked with HSBC UK ever since 1986 and once we moved to the USA in 1987 the account never had much money in it but they never charged fees. (We moved back in 2016)

I really don't know current policy but we don't pay fees in either country, but are Premier customers thes days

Re: How to handle bank accounts
 

There are no fees for transferring money from the HSBC International to the HSBC UK account - that's why it was appealing to us.
My wife currently has a Nationwide account which we use when we are on holiday abroad as there are no charges for using the CC or Cash withdrawals.
In an ideal world she would prefer to keep that account but there are transfer fees.

Re: How to handle bank accounts
 

After discussing my needs on the phone I opened a HSBC account online yesterday - very helpful so far
Once I get the document pack I've to call them to discuss the International account