Bank of Scotland and Non Ordinarily resident Status

gozomark

Know any UK corporations? No I don't. HSBC used to stand for Hongkong and Shanghai Banking Corporation of California, but now it doesn't stand for anything. Its proper name is HSBC Holdings plc.

Its a plc, incorporated and HQ'd in the UK. Its not a US bank, its not a Chinese bank, its not a HK bank, its legally a UK bank, with worldwide operations.

gozomark

Know any UK corporations?

I've come up with 2 - BBC, and British Steel Corporation

rt29781

gozomark wrote: »

Know any UK corporations?

I've come up with 2 - BBC, and British Steel Corporation

Well done I couldn't think of any.

Really hard to get good advice about why non resident UK citizens are denied bank accounts in the UK so I have to assume that most people on this forum that have responded work in some way for the UK banks?

Its great that HSBC let us bank with them and I hope others follow. Its also great that HBOS relaxed their rules. I have learnt a lot about the History of HSBC as well. As I am getting nowhere on my original question I will leave it at that.

gozomark

Really hard to get good advice about why non resident UK citizens are denied bank accounts in the UK - that depends on what you call good advice - I reckon you've been given lots of good advice why on this thread ..

Investec and Halifax also allow non-resident UK citizens to open onshore accounts, so its clearly permissible, thus its basically its a commercial decision by the banks concerned. As a non-resident UK citizen myself I'd love to see more allow it, but understand their reluctance.

rt29781

gozomark wrote: »

Investec and Halifax also allow non-resident UK citizens to open onshore accounts

Halifax is HBOS (Halifax/Bank of Scotland)

gozomark

I tell you what mate, you come on here asking for help/advice, and all you do is look for ways of correcting every post thats made to help, which is not constructive.

My point remains the same

Investec also allow non-resident UK citizens to open onshore accounts, so its clearly permissible, thus its basically its a commercial decision by the banks concerned. As a non-resident UK citizen myself I'd love to see more allow it, but understand their reluctance.

Mikeyorks

rt29781 wrote: »

Really hard to get good advice about why non resident UK citizens are denied bank accounts in the UK

Very similar reason to why you're denied an (new) ISA. Or, even, to add funds to an ISA you may have retained over here.

It's the financial version of 'wanting your cake ... and eating it'?

gozomark

Mikeyorks wrote: »

Very similar reason to why you're denied an (new) ISA. Or, even, to add funds to an ISA you may have retained over here.

A non-UK resident cannot add to create an new ISA for tax reasons with any bank, which is nothing to do with why they are denied the opportunity to open a bank account with most banks

gozomark

It's the financial version of 'wanting your cake ... and eating it'? - the UK benefits from having non-residents depositing funds in the UK, especially if they are denominated in £ - its something that should be encouraged

G_M

HSBC stands for the Hongkong and Shanghai Banking Corporation of California formed in 1955. Its a corporation.

What a load of.... HSBC stands for Hongkong and Shanghai Banking Corporation .

Hongkong and Shanghai Banking Corporation of California is just one small part of an international organsiation.

HSBC history.

HSBC California?

"Michael Turner became Chief Manager in 1953 and set about diversifying the business. His tenure came to an end in 1962 having established The Hong Kong and Shanghai Banking Corporation of California 1955 and having acquired The British Bank of the Middle East and the Mercantile Bank (based in India) in 1959. Turner was succeeded........"