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  • FIRST POST
    • Julier4143
    • By Julier4143 19th Apr 17, 8:03 AM
    • 1Posts
    • 0Thanks
    Julier4143
    Bank account for constantly overseas
    • #1
    • 19th Apr 17, 8:03 AM
    Bank account for constantly overseas 19th Apr 17 at 8:03 AM
    Hi there
    I travel overseas for the majority of the year, only coming to UK once or twice. My wages (UK company) are paid into my Nationwide Account BUT I am wondering, is anyone can recommend a better account for me to use. Nationwide are pretty good but the overseas transaction rates etc are ridiculous. I need an account where I can draw out cash, use the card (debit) to purchase goods again hopefully without being charged transaction fees etc. I rarely use the credit card. many thanks savers, remember, every little helps
Page 1
    • Jo Blogs
    • By Jo Blogs 19th Apr 17, 8:25 AM
    • 750 Posts
    • 2,566 Thanks
    Jo Blogs
    • #2
    • 19th Apr 17, 8:25 AM
    • #2
    • 19th Apr 17, 8:25 AM
    It really depends where you are overseas. If it's Europe, then it's between Metro bank current account,Virgin Money essentials account, and M&S current account. Although, having said that these banks do either charge for purchases or cash withdrawls.

    This link might help:-

    http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Aug] £58.44 for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 July NSDs 19/15CCCChl 7/12 months
    July PPChl#002 Pts 71
    • eDicky
    • By eDicky 19th Apr 17, 3:20 PM
    • 2,604 Posts
    • 1,115 Thanks
    eDicky
    • #3
    • 19th Apr 17, 3:20 PM
    • #3
    • 19th Apr 17, 3:20 PM
    There are plenty of solutions, 'specialist' credit cards and prepaid cards that can be funded from your Nationwide account, instead of using their debit card.

    http://www.moneysavingexpert.com/travel/cheap-travel-money

    http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards

    For example, today I paid for my lunch in Singapore using my Loot prepaid card, straight MasterCard exchange rate with no fees, funds loaded as needed, by bank debit card or FP - https://loot.io
    • jonesMUFCforever
    • By jonesMUFCforever 19th Apr 17, 4:08 PM
    • 23,841 Posts
    • 11,043 Thanks
    jonesMUFCforever
    • #4
    • 19th Apr 17, 4:08 PM
    • #4
    • 19th Apr 17, 4:08 PM
    Look at overseas accounts for people working abroad - all high street banks will offer them but Nationwide probably will not.
    What goes around - comes around
    give lots and you will always receive lots
    • grumbler
    • By grumbler 19th Apr 17, 5:20 PM
    • 51,388 Posts
    • 21,755 Thanks
    grumbler
    • #5
    • 19th Apr 17, 5:20 PM
    • #5
    • 19th Apr 17, 5:20 PM
    ... Nationwide are pretty good but the overseas transaction rates etc are ridiculous.
    Originally posted by Julier4143
    Nationwide's rates aren't the worse. See debit cards from hell
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • bigadaj
    • By bigadaj 19th Apr 17, 8:23 PM
    • 9,362 Posts
    • 5,983 Thanks
    bigadaj
    • #6
    • 19th Apr 17, 8:23 PM
    • #6
    • 19th Apr 17, 8:23 PM
    Hi there
    I travel overseas for the majority of the year, only coming to UK once or twice. My wages (UK company) are paid into my Nationwide Account BUT I am wondering, is anyone can recommend a better account for me to use. Nationwide are pretty good but the overseas transaction rates etc are ridiculous. I need an account where I can draw out cash, use the card (debit) to purchase goods again hopefully without being charged transaction fees etc. I rarely use the credit card. many thanks savers, remember, every little helps
    Originally posted by Julier4143
    Wouldn't a combination of a flexplus account and a select credit card be appropriate?
    • moneyfoolish
    • By moneyfoolish 21st Apr 17, 2:14 PM
    • 440 Posts
    • 258 Thanks
    moneyfoolish
    • #7
    • 21st Apr 17, 2:14 PM
    • #7
    • 21st Apr 17, 2:14 PM
    My daughter has gone to live and work in Switzerland. She has a house here with a mortgage. Is she allowed to have a UK Current Bank Account to use for paying her mortgage?
    • jonesMUFCforever
    • By jonesMUFCforever 21st Apr 17, 2:17 PM
    • 23,841 Posts
    • 11,043 Thanks
    jonesMUFCforever
    • #8
    • 21st Apr 17, 2:17 PM
    • #8
    • 21st Apr 17, 2:17 PM
    My daughter has gone to live and work in Switzerland. She has a house here with a mortgage. Is she allowed to have a UK Current Bank Account to use for paying her mortgage?
    Originally posted by moneyfoolish
    .................Yes................
    What goes around - comes around
    give lots and you will always receive lots
    • Biggles
    • By Biggles 22nd Apr 17, 9:24 AM
    • 7,345 Posts
    • 4,742 Thanks
    Biggles
    • #9
    • 22nd Apr 17, 9:24 AM
    • #9
    • 22nd Apr 17, 9:24 AM
    .................Yes................
    Originally posted by jonesMUFCforever
    Does that mean only if a nonres has a mortgage they can open a UK bank account? Or would just ownership of a property qualify them?
    • jonesMUFCforever
    • By jonesMUFCforever 22nd Apr 17, 11:42 AM
    • 23,841 Posts
    • 11,043 Thanks
    jonesMUFCforever
    Does that mean only if a nonres has a mortgage they can open a UK bank account? Or would just ownership of a property qualify them?
    Originally posted by Biggles
    I read it as the OP already had a mortgage and account before leaving the UK. ( Pretty unlikely that someone would have a mortgage without an account to pay it)

    There is no problem with keeping the UK account open to service the mortgage.

    Any EU citizen (for now) has the right to open an account in any other EU country.
    (I know in this case that Switzerland is not in EU).
    What goes around - comes around
    give lots and you will always receive lots
    • Biggles
    • By Biggles 22nd Apr 17, 1:05 PM
    • 7,345 Posts
    • 4,742 Thanks
    Biggles
    I read it as the OP already had a mortgage and account before leaving the UK. (Pretty unlikely that someone would have a mortgage without an account to pay it)

    There is no problem with keeping the UK account open to service the mortgage.
    Originally posted by jonesMUFCforever
    Most banks have no problem with keeping any account open after you have become nonres, mortgage or no. Opening a new one (if resident outside the EU) is the tricky bit.

    Any EU citizen (for now) has the right to open an account in any other EU country.
    (I know in this case that Switzerland is not in EU)
    Now that's an interesting point. Will the opening of bank accounts become harder or be made easier after Brexit???
    • jonesMUFCforever
    • By jonesMUFCforever 22nd Apr 17, 7:53 PM
    • 23,841 Posts
    • 11,043 Thanks
    jonesMUFCforever
    Harder I hope.
    What goes around - comes around
    give lots and you will always receive lots
    • Heng Leng
    • By Heng Leng 23rd Apr 17, 2:41 PM
    • 3,955 Posts
    • 1,206 Thanks
    Heng Leng
    Harder I hope.
    Originally posted by jonesMUFCforever
    For everyone or just non-Little Englanders?
    • bigadaj
    • By bigadaj 23rd Apr 17, 2:48 PM
    • 9,362 Posts
    • 5,983 Thanks
    bigadaj
    For everyone or just non-Little Englanders?
    Originally posted by Heng Leng
    Scratched record........
    • jonesMUFCforever
    • By jonesMUFCforever 23rd Apr 17, 2:59 PM
    • 23,841 Posts
    • 11,043 Thanks
    jonesMUFCforever
    For everyone or just non-Little Englanders?
    Originally posted by Heng Leng
    For anyone that does not have a physical presence in the country.
    What goes around - comes around
    give lots and you will always receive lots
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