Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Sassyzen
    • By Sassyzen 5th Sep 17, 9:24 AM
    • 2Posts
    • 0Thanks
    Sassyzen
    Expat / relocating abroad - UK bank account??
    • #1
    • 5th Sep 17, 9:24 AM
    Expat / relocating abroad - UK bank account?? 5th Sep 17 at 9:24 AM
    I am looking to relocate our family to Australia next year. Does anyone know which bank(s) I can keep a current account with, without residing in the UK? I do not have any big savings (as required by Barclays) and have no family or friends address I can use (which would be breaking the rules of being a UK resident in most banks' terms and conditions anyway). Our family are French and Australian, I'm also concerned with the Brexit and how the rules might change regarding expat bank accounts, because once we're there, we won't be able to come back to make any bank changes...
Page 1
    • Voyager2002
    • By Voyager2002 5th Sep 17, 9:29 AM
    • 11,572 Posts
    • 7,827 Thanks
    Voyager2002
    • #2
    • 5th Sep 17, 9:29 AM
    • #2
    • 5th Sep 17, 9:29 AM
    Why do you want to keep a British bank account?

    In practice, you can leave your existing accounts open, perhaps asking your solicitor to receive mail for you, or telling the bank that you will be overseas for a limited period and giving them your address in Australia.

    Alternatively, most or all UK banks have an international branch (generally located physically in Gibraltar or the Isle of Man) that offers accounts to people living anywhere in the world: you can enquire in branches or simply use Google. Please be aware that such 'international' accounts are not protected in the same way that domestic accounts are protected from bank failure up to £85,000.
    • agrinnall
    • By agrinnall 5th Sep 17, 10:46 AM
    • 18,431 Posts
    • 14,144 Thanks
    agrinnall
    • #3
    • 5th Sep 17, 10:46 AM
    • #3
    • 5th Sep 17, 10:46 AM
    Most banks will allow you to maintain a UK bank account when you are living overseas, just not let you open a new one. A UK correspondence address might make it easier, and I find it very difficult to believe that you do not know 1 person in the UK who would allow you to have mail sent there.

    However, Voyager's point on why you want to maintain a UK account at all is a valid one. Are you emigrating permanently? Do you have any bills that need to continue to be paid in the UK? If the answers to those questions are Yes and No respectively then I would question whether you need it at all.
    • fatbeetle
    • By fatbeetle 6th Sep 17, 8:09 AM
    • 292 Posts
    • 408 Thanks
    fatbeetle
    • #4
    • 6th Sep 17, 8:09 AM
    • #4
    • 6th Sep 17, 8:09 AM
    I've maintained a Lloyds account while living in Australia for the past 16 years.
    “If you trust in yourself, and believe in your dreams, and follow your star. . . you'll still get beaten by people who spent their time working hard and learning things and who weren't so lazy.”
    • Sassyzen
    • By Sassyzen 7th Sep 17, 10:22 AM
    • 2 Posts
    • 0 Thanks
    Sassyzen
    • #5
    • 7th Sep 17, 10:22 AM
    • #5
    • 7th Sep 17, 10:22 AM
    Thanks for the replies. I really want to keep a UK bank account just in case. I'm a just in case kind of person. I guess I don't really need one, but since I'm British, I thought I should have one and not cut off all ties, just in case...
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

153Posts Today

1,353Users online

Martin's Twitter
  • RT @thismorning: 'Sometimes the best gift is releasing somebody else from the obligation of having to give to you' says @MartinSLewis. Do y?

  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Follow Martin