Bank account for Expats

Monty14

Hi There,


We lost most of our savings in the bank collapses last October, (Isle of Man – NOT tax dodging, just seeking a better interest rate), not a lot to some but devastating to us.


We have just moved to Spain, before we left the UK we opened a few small accounts so that when we get any of our money back we would have a home for it. (a few accounts; so as to give us freedom to switch the money as interest rates change) Since leaving the UK, ALL the banks we opened with have asked us to close our accounts, even though we had previously asked can we keep it if we move abroad. ‘doh we made a mistake’ has been the reply.


We feel unable to open an offshore account as neither IoM, Jersey or Guernsey appear able to honour their commitments should another bank fail. (I hope not for everyone’s sake) So we are out in the cold. Our only option now appears to be to open an account in Spain, take a hard hit on the exchange rate and then lose again if we return to the UK (our long term plans are uncertain).


Please can anyone tell us if they know of any UK bank that will allow a UK citizen living abroad to open an account using our Spanish address? After all the government say it’s possible.


Thanks,


Monty.

estelle123

When we moved to spain unless we could give them a uk address they would close our accounts,so we used my in laws.Try calling Barclays international as they have branches in Spain.
You can open an account in spain with a UK address but not visa versa,so much for UK being in the EU.It is very frustrating so good luck.

97trophy

Monty14 wrote: »

Since leaving the UK, ALL the banks we opened with have asked us to close our accounts, even though we had previously asked can we keep it if we move abroad. ‘doh we made a mistake’ has been the reply.

Hi Monty

Can you please name the banks. As I am considering such a move and I wont to know who to avoid.

Thanks

estelle123

No high sreet bank will let you use the account with an overseas address.Can you give a "care of add "that what a lot of people in spain do.

97trophy

estelle123 wrote: »

No high sreet bank will let you use the account with an overseas address.

What proof do you have of that statement?

Because I believe it to be BS.

Inactive

97trophy wrote: »

What proof do you have of that statement?

Because I believe it to be BS.

I'm fairly sure that it is true actually, all of my friends in Spain have been denied a UK Bank Account without a valid UK address, most of them have used a close relatives address to get around it.

Not sure why the UK Banks seem to impose this.

iblametheparents

Barclays lets you keep accounts if you move abroad, as long as you were a UK resident when you opened it. They even send statements and cheque books out as long as it's a "safe" country.

As you're already abroad you could try Barclays International, they offer offshore accounts at a branch in Knightsbridge - not too sure what the compensation limits are though as I don't work in that part of the bank.

97trophy

Inactive wrote: »

all of my friends in Spain have been denied a UK Bank Account without a valid UK address,

Is that people living in Spain who want to open a new bank account or people that have an existing UK bank account and then move to Spain?

Thanks

Inactive

97trophy wrote: »

Is that people living in Spain who want to open a new bank account or people that have an existing UK bank account and then move to Spain?

Thanks

Both.

( However it seems that Barclays may be an exception, see post above ).