Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Notify UK bank that we're moving to the US?

Notify UK bank that we're moving to the US?

Old Feb 28th 2011, 2:24 pm
  #1  
C_C
Forum Regular
Thread Starter
 
Joined: Jul 2010
Location: Glendale, CA
Posts: 285
C_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud of
Default 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?
C_C is offline  
Old Feb 28th 2011, 3:36 pm
  #2  
Forum Regular
 
Joined: Jan 2011
Location: England
Posts: 259
Shermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to allShermeen.Adam is a name known to all
Default 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.
Shermeen.Adam is offline  
Old Feb 28th 2011, 3:38 pm
  #3  
SUPER MODERATOR
 
Jerseygirl's Avatar
 
Joined: Dec 2005
Posts: 82,099
Jerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond repute
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by C_C View Post
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?
Keep at least one bank account open and one credit account. Give both your US address...it shouldn't be a problem plenty of us have done it.

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.

Last edited by Jerseygirl; Feb 28th 2011 at 3:40 pm.
Jerseygirl is offline  
Old Feb 28th 2011, 3:46 pm
  #4  
.
 
Yorkieabroad's Avatar
 
Joined: Nov 2002
Location: Where bad things rarely happen in movies
Posts: 8,933
Yorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond repute
Default 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.
Yorkieabroad is offline  
Old Feb 28th 2011, 5:35 pm
  #5  
cxx
BE Enthusiast
 
Joined: Jan 2011
Posts: 499
cxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond reputecxx has a reputation beyond repute
Default 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.
cxx is offline  
Old Feb 28th 2011, 8:39 pm
  #6  
BE Forum Addict
 
Joined: Sep 2010
Location: Maryland (via Belfast, Manchester, Toronto and London)
Posts: 4,771
MarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond reputeMarylandNed has a reputation beyond repute
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by C_C View Post
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?
When my wife and I first left the UK for Canada in 1989, we made the mistake of closing our UK bank accounts. We returned to the UK in 1996 and had the most difficult time opening a new account - despite the fact that we had money to deposit. I guess there were strict rules about opening accounts because of a fear of money laundering.

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.
MarylandNed is offline  
Old Feb 28th 2011, 8:55 pm
  #7  
Bob
BE Site Lead
 
Bob's Avatar
 
Joined: Aug 2004
Location: MA, USA
Posts: 91,723
Bob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond repute
Default 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.
Bob is offline  
Old Feb 28th 2011, 9:41 pm
  #8  
BE Enthusiast
 
rallybug's Avatar
 
Joined: May 2004
Location: North Salt Lake, Utah
Posts: 317
rallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to allrallybug is a name known to all
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by Yorkieabroad View Post
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.
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
rallybug is offline  
Old Feb 28th 2011, 11:33 pm
  #9  
Lost in BE Cyberspace
 
Bluegrass Lass's Avatar
 
Joined: Oct 2003
Location: My Old KY Home!
Posts: 6,498
Bluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond reputeBluegrass Lass has a reputation beyond repute
Default 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.
Bluegrass Lass is offline  
Old Feb 28th 2011, 11:35 pm
  #10  
SUPER MODERATOR
 
Jerseygirl's Avatar
 
Joined: Dec 2005
Posts: 82,099
Jerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond repute
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by sunflwrgrl13 View Post
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.
Odd the Nat West have been sending statements, correspondence, even new bank cards and credit cards to our US address since 1996.
Jerseygirl is offline  
Old Mar 1st 2011, 4:35 am
  #11  
.
 
Yorkieabroad's Avatar
 
Joined: Nov 2002
Location: Where bad things rarely happen in movies
Posts: 8,933
Yorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond repute
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by rallybug View Post
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
Yes. When I left I filled in whatever the form was that gets the interest paid gross, then declare it on my return. Thats the only hiccup I've had with First Direct - after I'd been overseas for 10 years all of my accounts defaulted to paying interest net of tax....I guess whoever programmed it assumed people wouldn't be overseas for over a decade(?). I just had to refile the forms which wasn't a hassle, but did make that years tax return a bit more fiddly because some of the interest was gross, some was net....
Yorkieabroad is offline  
Old Mar 1st 2011, 4:37 am
  #12  
.
 
Yorkieabroad's Avatar
 
Joined: Nov 2002
Location: Where bad things rarely happen in movies
Posts: 8,933
Yorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond reputeYorkieabroad has a reputation beyond repute
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by Jerseygirl View Post
Odd the Nat West have been sending statements, correspondence, even new bank cards and credit cards to our US address since 1996.
maybe something changed but you're grandfathered in....?
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.
Yorkieabroad is offline  
Old Mar 1st 2011, 6:45 am
  #13  
C_C
Forum Regular
Thread Starter
 
Joined: Jul 2010
Location: Glendale, CA
Posts: 285
C_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud of
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by sunflwrgrl13 View Post
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.
Hmmm...we're with Natwest too.
I assume/hope that the account of yours they closed had no money in it???
C_C is offline  
Old Mar 1st 2011, 6:48 am
  #14  
C_C
Forum Regular
Thread Starter
 
Joined: Jul 2010
Location: Glendale, CA
Posts: 285
C_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud ofC_C has much to be proud of
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by Jerseygirl View Post
Odd the Nat West have been sending statements, correspondence, even new bank cards and credit cards to our US address since 1996.
I wonder if it depends on the branch then, although it shouldn't be the case.
C_C is offline  
Old Mar 1st 2011, 12:03 pm
  #15  
Forum Regular
 
Joined: Dec 2008
Posts: 38
twodice is an unknown quantity at this point
Default Re: Notify UK bank that we're moving to the US?

Originally Posted by C_C View Post
I wonder if it depends on the branch then, although it shouldn't be the case.
I work for a uk bank, its easy to do in any branch to give an overseas address, ive changed it to many countries. Takes two minutes.
twodice is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.