Elvira

Eh......... I think it's actually quite nice of them to drop a hint that you should perhaps think about moving your dosh to a different account...

You can manage your account, and open an e-savings account (interest about 6% I think) online.

HTH

Yorkieabroad

Yeah, I know - I have a couple of other high interest accounts elsewhere where the proper money is. That is just there to keep the account open in case I ever need it down the line - I was a just a bit surprised that from the other posts, it seems some banks can close accounts if theres no activity...I didn't know they could do that!

Elvira

I'm not sure after how many years. And I don't think they actually close them, in the sense of taking the dosh, but the accounts can become dormant and unusable without renewed credit checks.

After a few years of non-use, one of my accounts was downgraded to a cashpoint card account, i.e. not a full service account, which would have been a real nuisance if it had been my only account.

tonrob

With all of this revolting against bank charges that's been happening in the UK the banks seem to be resorting to any tactics to cut costs and/or find new income, so the downgrading of 'dormant' accounts doesn't surprise me. HSBC just sent me revised Ts&Cs for my UK credit card that included their right to slap me with a new kind of fee (20 quid if I remember correctly) if my card remained unused for 12 months.

happyascanbe

thanks guys!

i'm thinking of opening an internet based account, is that enough account, how do i keep it active? do i open it with my present address now and just change it to my u.s. address later on?

Elvira

You absolutely have to open any UK bank accounts before you leave. No bank will let you open an account unless you can prove that you are resident in the UK.

These days all banks offer online services, so the choice is really yours.

Ray has already explained the simple procedure for keeping accounts active.

happyascanbe

any suggestions on which bank to go for....i may be staying in the u.s. for quite awhile, if i do decide to close this account, do i need to be here? i also have an isa account, can i just keep that, what happens if i need to close it????

TruBrit

which account? if it's an account you already have then contact them and ask them.

Elvira

Seems like you need some very basic financial education.

Go here for UK stuff: www.fool.co.uk

And here for US stuff: www.fool.com

HTH