Saving from overseas

jbwhitebird

Ive got about 30000 in Premium bonds but having no luck.I can stash away for 2 or 3 years to get a fixed monthly income.But I am abroad so adds to the complexity somewhat.I have a debit card and current account with a UK bank.What do you suggest.?

Jonbvn

Since you do not have a UK address you will find it impossible to open a savings account with any bank, other than the one you hold a current account with.

Therefore, you are forced to save offshore in Channel Islands etc. Make sure you stick with the biggest names offshore to avoid any issues with banks defaulting ala Icelandic banks. If you reside inside the EU, you will fall under the EU savings directive regarding tax on interest.

jbwhitebird

Thank you for your reply.I do have a UK address though I am seldom there.

Jonbvn

jbwhitebird wrote: »

Thank you for your reply.I do have a UK address though I am seldom there.

Then you should be able to use it to open an account, like any normal resident, assuming you are on the electoral register or provide documentary evidence of your residence.