Originally Posted by Steerpike (Post 12765698)

Update - Barclays were super-efficient and got me all setup with one video call. This was Barclays international, based in Isle of Man. Minimum balance 25k GBP to avoid fees, so not 'basic' but suits my needs. They did a video call and had me hold up my passport and drivers license to the camera, and also a form they had me download and sign - no need to scan anything, or submit anything - definitely pretty cool!

In the meantime, a lady at the first HSBC branch I walked into in UK had emailed her 'regional colleague' asking for his input. He got back to me and was convinced I could open a regular UK account with HSBC UK without any need for US or international elements - totally contradicting everything else I heard / read. So I went along with him despite being very skeptical. He arranged for me to go into a branch, and after a 2 hour session, I was given a basic bank account! I'm still half-expecting someone to write / email and say, sorry we made a mistake, but so far it's still moving along. And even though HSBC is clearly not in the same caliber as Barclays International, I may end up ditching the Barclays account and using the HSBC one as there are virtually no minimums and the fees for transferring to US are quite low in comparison.

I'll be getting the check / cheque pretty soon so I'll make a final decision then. Clearly there is a lot of confusion and inconsistency in this area!

Meanwhile, no one seems to think that suddenly acquiring $40k will raise any eyebrows with the IRS; yet if you 'earn' that amount, you have to pay a ton of taxes! I would have thought 'gifts' would be treated less favorably than hard-earned income...

Originally Posted by msk2uon (Post 12766532)

Hi,
Am trying to do the same while holding a HSBC USA account but its proving trickier than I'd expected. I'd really like to benefit from the fee free transfer between UK and USA. Would you be able to PM me the contact of the local HSBC chap who set you up? Much appreciated!

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Originally Posted by penguinsix (Post 12766664)

FWIW I opened an HSBC Premier account in the UK after having my HSBC Premier representative in the USA suss it out with his UK counterparts. I was actually in Hong Kong at the time, so I had to go to HSBC HK and sign some papers in front of them but it all worked out eventually. I now have a US, UK and HK account with HSBC all linked together.

Originally Posted by Steerpike (Post 12759979)

UPDATE - today I spoke to a very helpful person at Barclays International - he was based in Isle of Man. He said as long as I have at least 25,000 GBP I can set up an account, with no need for a corresponding account in US. Everything he said sounded reasonable and they do the application by video, including verification of docs! So it's looking like I'll go the Barclays route. I did get a call back from someone at HSBC and he is convinced I can just open a UK account without a US account, but I'm very doubtful. I'll pursue that angle also, though, to keep options open.