Titchski

I still have my staff accounts with NatWest - I checked last I went home and they are still there and still active

No CC accounts either there or here, which really screwed me on renting a car today :/

NC Penguin

A bank statement as proof of identity? That's odd. I would've thought it shows proof of funds.

There's better documentation to show proof of identity (UK passport anyone?)...


NC Penguin

mandpete

We kept our Natwest current account and changed the address to my parents' home in England. We also kept our Mint (RBS) CC and changed the address to our US one. These come in handy when we go back to the UK or if I am ordering gifts from the UK.

My husband has been offered shares in Standard Life but because we are no longer residents of the UK he cannot keep the shares and has to take the cash instead.

I tried to change my kids' premium bonds to our US address but were told that it is illegal for USPS to handle any winnings from abroad. We don't want to cash them in because they were bought by their Grandad when they were born, I am hoping that I will be able to use my parents' address instead.

Elvira

I take it you've been gone a while then? Anyone trying to do anything in the UK (eg opening a bank account, starting a unit trust, renting a flat or getting utilities connected) will require at least TWO forms of documentation, one being either a passport, birth certificate or a driver's licence, the other being either a utility bill, council tax statement or a bank statement.

NC Penguin

You do realize what you wrote doesn't actually make sense? You're stating a Catch 22 situation. i.e. To open a bank account, you need show a bank statement.

Proof of identity would be an officially issued ID containing one's photo. e.g. passport, UK driving license, etc.

Are you confusing proof of identity, proof of funds and proof of a UK address?


NC Penguin

Elvira

To open a bank account in the UK you need ID + a utility bill, council tax statement or rental contract or mortage statement.

(Check the UK Yankees forum to see some of the difficulties newly arrived Americans are having in this regard...)

To open an account for some of the other things I mentioned you need ID + one of the above OR bank statement.

Been there, done that - just recently...

NC Penguin

So what did you submit as your proof?


NC Penguin

swfcfan

Just found this site in my quest to try and get some financial information. Will be looking around more when I have time.

I have lived in the US for 10 years but still have an account with Natwest, which my parents have full access to and can manage for me. There isn't much money in there but I plan on putting a fairly large sum in there in the next few months. So here's my questions:

1. Do I have to report the interest income to the IRS? - I understand that the interest is automatically taxed by the British government so I can't see why I would have to pay tax on it in the US as well
2. What tax rate would the UK use? I have no other income in the UK so do they just charge me the lowest rate?

Thanks in advance

Manc

no idea, but kudos for trying to search for an answer through old threads.
welcome to the site.

TRPardoe

From my own Pension thread:

I emailed First Direct, telling them that I have a UK Building Society account and property but am domiciled in the USA. Opening an account with them or transferring my BS account is not an option.

Here is their reply:

QUOTE
I can confirm that the main criteria required to apply is as follows:

1) That you apply from a UK residential address and must be resident in the UK at the time of applying.

2) That identification, in the form of a utility bill or bank statement dated within the last 3 months showing your full name and address, is supplied along with the application.

3) We may also need to speak to you at some stage of the processing of the application.

If you are not yet resident in the UK we would advise that you wait until you have moved to the UK and then telephone us on 0800 24 24 24. Alternatively, complete an application form online at firstdirect.com

UNQUOTE

I think that this would be the case with any conventional UK Bank.

An Offshore Account is a different matter.

Jerseygirl

As a US resident you pay tax here. The bank should have a form that you fill in so that you will not have to pay tax in the UK on the interest. You will have to declare in on your US tax return.

Lord Lionheart

I opened a UK account with HSBC on a recent UK visit, no bills such as utility bill, council tax statement or rental contract or mortage statement. They used my US driving licence and British passport. It was a non-resident UK account, they also gave me forms so I could get the higher interest as a non UK resident

jen_andreson

When we moved to the US, we had to show 2 utility bills or 1 utility bill and a bank statement to forward our post from our house to my parents (within the UK). It's a Royal Mail requirement. We also had to show our passports for proof of ID along with the proof of address. It was all way too complicated, but that's how it is now.

We had to get my husband on utilities asap when he moved over as he needed bills with HIS name and address before he could get a bank account, etc. It took ages. I got him added as a joint account holder for one of mine and then we eventually turned it over to his name only.

We learned to always keep banks and bills in each (or both) names as they are standard proof of address requirements.

I was v happy when we moved back to the US and were able to get bank accounts, etc., started without showing utility bills.

Yorkieabroad

As someone else mentioned, you can ask the bank to pay interest gross as you are nonresident in the UK. And yes, you do have to report the interest income to the IRS (You also need to declare the account to the US Dept of Treasury if you haven't already) If you end up receving the interest net of UK tax, which you may for a while if you dont get the nonresident thing sorted out quickly, then you can offset that tax in your US tax return, so you wouldn't be taxed twice on it (pretty much the same as you would for say tax deducted at source on UK dividends received). Not sure what tax rate the bank would use - 20% rings a bell, but I don't know why... give ema call and ask.

Now a question from me - On an earlier series of posts, someone mentioned the need to keep 2 UK bank accounts and 2 UK credit cards - one with UK addresses and one with US addresses, but I didn't understand the reason for that? Fully agree with all the advice about keeping UK bank/CC accounts, but not sure what the benefit of the UK/US addresses was?

JAJ

That's a matter of bank policy, not the law. There are absolutely NO residence or nationality restrictions on holding a standard United Kingdom bank account.

Bank branches in the Channel Islands and Isle of Man may be more used to dealing with non-residents. These are fully integrated into the regular British banking system.