Sterling savings account for non UK resident?

majic_2

We are UK citizens, but currently resident in France. Our pensions are paid in sterling and the bulk of our meagre savings are also in sterling.
For money laundering reasons, it would seem that we cannot open a savings account with any UK based financial institution, except Nationwide, where our savings have been held since our temporary move to France.
Does anyone know of any finacial institution where one can deposit sterling, despite being non UK resident?

gozomark

lots offshore

agsnu

You will probably have to use non-UK financial institutions (who provide off-shore banking services). E.g:

http://en.wikipedia.org/wiki/List_of_banks_in_the_Isle_of_Man
http://en.wikipedia.org/wiki/List_of_banks_in_Guernsey

Of course, as has been highlighted by the failure of KSF(IoM) and Landsbanki Guernsey, you will not be covered by UK banking protections, in particular the FSCS.

As there are many options and the implications can be quite complex, you may want to enlist the help of a financial adviser.

majic_2

Thank you for your replies. In my initial query I should have said any SAFE financial institutions? i.e. those which are guaranteed.

We did have a deposit on the IoM with Derbyshire BS, but they were taken over by Kaupthing Singer, and we were not allowed to withdraw our funds before the end of the period "agreed with Derbyshire". Since we all know what happened to various Icelandic banks, we dare not risk any more of our savings with doubtful deals.

tradetime

Do you have family in the UK?