Non resident savings accounts

alphason

Fixed ISA with Halifax has just matured @5.5%.

Been out of UK/EU for more than 3 years so should be able to use R105 form to recive interest payments gross. As there are no ISAs comparable to the 5.5% that has just finished I have been looking into other accounts.

Don't mind locking the cash away for a while but would like to have access in an emergency. I have checked with ICICIs 4.7% 3 year fix but is not available to non residents, NS&Is 4.4% 3 year or 4.6% 5 year fix is available to non residents but they do not accept R105 so would have to reclaim the tax each year. Halifax have offered 5 year fixed at stepped rate from 4.25% in year 1 stepping up to 6.25% in year 5.

I realise I will lose my tax free ISA contributions from previous years but I have no plans to return to the Uk so its not really an issue, and have been unable to add to this since beoming non resident.

Any other accounts I should be aware of? If I place my money in a Uk bank do I still get the same protection as UK residents, this is the reason I have preferred these accounts to offshore accounts. Thanks.

Jonbvn

I am not sure whether you can transfer the existing ISA money to another ISA or not, given that you are now a non-resident.

I believe Halifax & Investec allow non-residents to open accounts.

gozomark

alphason wrote: »

If I place my money in a Uk bank do I still get the same protection as UK residents, this is the reason I have preferred these accounts to offshore accounts. Thanks.

The issue isn't whether they are a UK bank, but whether they are covered by UK scheme. Plenty of foreign bank's UK operations are covered, and some UK banks operations aren't. You will have the same protection as a UK resident for a particular banks operations.

Eg Post Office isn't, Alliance & Leicester onshore is, but its offshore isn't.

G_M

Investec will certainly allow non-residents to open an account and will pay interest gross. Their UK accounts are protected by the UK's scheme.

There's a thread on the account here.

And referral details here.

Jonbvn

G_M wrote: »

There's a thread on the account here.

I notice that in your post #3 on that thread you state the following:

G_M wrote: »

Anyway, I've now opened and account. They now also offer £50 to new applicants who are referred by an existing account holder (that's £50 each) so mail me to take advantage of this.

Yet you had a go at me for doing exactly the same thing last week???? This demonstrates spectacular hypocrisy:rolleyes:

alphason

Thanks for replies.

At the moment I am heading towards Clydesdale International Bank with a 5 year fixe at 5.10% gross pa and also a 1 year regular saver from Halifax International at 4% gross pa. A bit longer tie in than I really wanted but the rate is attractive.