Notify UK bank that we're moving to the US?
Hello everyone,
We're moving to the US in a couple of months and we've started looking at all the logistics of the move. One of my questions has to do with notifying (or not) our UK bank that we'll be moving to the US. If the UK bank knows that we won't be residing in the UK anymore, are they likely to cause us any problems with our account? We intend to leave one of our UK accounts open (just a simple checking account), mainly because we're expecting some money to come into it after we've moved. We will only need to have the account open for a month or so after we've moved, just so we can receive the money and then transfer it to our US account using a foreign exchange service. If it wasn't for this money, we'd probably close all our UK accounts before we left. Note here that none of us is from the UK originally, so we're not likely to be returning regularly for vacation, visits etc. So what do people think? Is it a better idea to notify the UK bank that we're leaving anyway and that we're keeping one account open? Is it a better idea to keep silent about it until after we've made all the transfers we need to? Or does it not matter either way? |
Re: Notify UK bank that we're moving to the US?
I shouldn't think it would matter though I am in no way an expert. As long as your account is in good standing you should be able to close it whenever you please. Maybe just check with them whether it can be closed online or over the phone or whether it needs to be done in writing/person.
I think though that some people like to leave a bank account open over here just in case. And of course, some banks don't like you to have an account that you don't regularly put money into. |
Re: Notify UK bank that we're moving to the US?
Originally Posted by C_C
(Post 9207752)
Hello everyone,
We're moving to the US in a couple of months and we've started looking at all the logistics of the move. One of my questions has to do with notifying (or not) our UK bank that we'll be moving to the US. If the UK bank knows that we won't be residing in the UK anymore, are they likely to cause us any problems with our account? We intend to leave one of our UK accounts open (just a simple checking account), mainly because we're expecting some money to come into it after we've moved. We will only need to have the account open for a month or so after we've moved, just so we can receive the money and then transfer it to our US account using a foreign exchange service. If it wasn't for this money, we'd probably close all our UK accounts before we left. Note here that none of us is from the UK originally, so we're not likely to be returning regularly for vacation, visits etc. So what do people think? Is it a better idea to notify the UK bank that we're leaving anyway and that we're keeping one account open? Is it a better idea to keep silent about it until after we've made all the transfers we need to? Or does it not matter either way? It's very useful to keep these open while you're living overseas. Makes life easy when you visit the UK...plus if you should ever want to open a UK account it is almost impossible unless you are a UK resident. |
Re: Notify UK bank that we're moving to the US?
I'd second what JG said - keep your (free) bank accounts open. You never know when you might need them again, and they can be handy for holidays and paying those odd UK expenses that trickle in...credit cards, birthday presents and the like. Plus until very recently I was getting significantly better interest in the UK to the US.
I changed over First Direct and Nationwide to overseas addresses without a problem, although neither of these (I'm told) will open a new account for an overseas customer. |
Re: Notify UK bank that we're moving to the US?
Most banks seem fine with a non-UK address, however the exception we found was Alliance & Leicester who refused to accept the address change when we wrote to them.
|
Re: Notify UK bank that we're moving to the US?
Originally Posted by C_C
(Post 9207752)
Hello everyone,
We're moving to the US in a couple of months and we've started looking at all the logistics of the move. One of my questions has to do with notifying (or not) our UK bank that we'll be moving to the US. If the UK bank knows that we won't be residing in the UK anymore, are they likely to cause us any problems with our account? We intend to leave one of our UK accounts open (just a simple checking account), mainly because we're expecting some money to come into it after we've moved. We will only need to have the account open for a month or so after we've moved, just so we can receive the money and then transfer it to our US account using a foreign exchange service. If it wasn't for this money, we'd probably close all our UK accounts before we left. Note here that none of us is from the UK originally, so we're not likely to be returning regularly for vacation, visits etc. So what do people think? Is it a better idea to notify the UK bank that we're leaving anyway and that we're keeping one account open? Is it a better idea to keep silent about it until after we've made all the transfers we need to? Or does it not matter either way? In desperation we visited a bank where a friend of ours worked. She had a word with the branch manager on our behalf and we were able to open an account - and then eventually other accounts at other institutions over time. We left the UK in 1998 for the US and this time we left all our UK accounts open. Just gave them the US address and we've been receiving statements here ever since. I wouldn't want the bank to have the wrong address in case they send something important there. |
Re: Notify UK bank that we're moving to the US?
Keep an account open.
If you're able to depends on the bank, some don't allow none residents, but most do. |
Re: Notify UK bank that we're moving to the US?
Originally Posted by Yorkieabroad
(Post 9207957)
I'd second what JG said - keep your (free) bank accounts open. You never know when you might need them again, and they can be handy for holidays and paying those odd UK expenses that trickle in...credit cards, birthday presents and the like. Plus until very recently I was getting significantly better interest in the UK to the US.
Mind you, if/when I drop the 'Vantage' additional part of my Lloyds current account, i'll be on non-interest-bearing anyway :lol: |
Re: Notify UK bank that we're moving to the US?
My husband kept an account with Natwest when he came over in 2004. They wouldn't accept an overseas address so he sent the statements to his parents address. We found out recently they closed the account for non-activity without any notice to us.
|
Re: Notify UK bank that we're moving to the US?
Originally Posted by sunflwrgrl13
(Post 9209072)
My husband kept an account with Natwest when he came over in 2004. They wouldn't accept an overseas address so he sent the statements to his parents address. We found out recently they closed the account for non-activity without any notice to us.
|
Re: Notify UK bank that we're moving to the US?
Originally Posted by rallybug
(Post 9208886)
Would that have to be declared as income in a self-assessment tax return to HMRC?
Mind you, if/when I drop the 'Vantage' additional part of my Lloyds current account, i'll be on non-interest-bearing anyway :lol: |
Re: Notify UK bank that we're moving to the US?
Originally Posted by Jerseygirl
(Post 9209078)
Odd the Nat West have been sending statements, correspondence, even new bank cards and credit cards to our US address since 1996.
I know people who've been having trouble with First Direct when moving overseas recently, but I've been an overseas customer for them since 95. |
Re: Notify UK bank that we're moving to the US?
Originally Posted by sunflwrgrl13
(Post 9209072)
My husband kept an account with Natwest when he came over in 2004. They wouldn't accept an overseas address so he sent the statements to his parents address. We found out recently they closed the account for non-activity without any notice to us.
I assume/hope that the account of yours they closed had no money in it??? |
Re: Notify UK bank that we're moving to the US?
Originally Posted by Jerseygirl
(Post 9209078)
Odd the Nat West have been sending statements, correspondence, even new bank cards and credit cards to our US address since 1996.
|
Re: Notify UK bank that we're moving to the US?
Originally Posted by C_C
(Post 9209716)
I wonder if it depends on the branch then, although it shouldn't be the case.
|
All times are GMT. The time now is 2:19 am. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.