Credit rating for new imigrant? UK banks and Credit cards

nznewbie

I have just moved here from NZ, where i work as a pharmacist, have a mortgage, have a credit card (which i have had for years) however me and my girlfriend have had such a problem opening a bank account and obtaining a prepaid credit card. Why is this??? All the banks are only going to make money with account fees etc and are obviously not going to put themselves in any danger with giving me an overdraft etc. Its not like we are asking for accounts with overdrafts or even a credit card with a limit (we would rather a prepaid one). My credit rating in NZ is awesome, but for some reason that cant be transfered.....

Is there anywhere where they are a bit easier in opening an account or getting a credit card???

INT1

Can you provide documentation in form of Bank statements, credit card statements, Utility bills etc showing your credit worthiness?
get yourself on the voters role at your new address and also obtain some proof of employment.

lisyloo

Almost certainly a lack of UK credit history and possibly not being shown as being on the elecrtoral roll.
Get registered on the elctoral roll ASAP although it may take a while to show up on your credit report.

Banks have obligations to make sure you are who you say you are for money laundering purposes.
If you aren't registered they can't fulfil their legal obligations.
So whilst it might not seem risky from your point of view, they can get prosecuted if they don't put proper checks in place to make sure you aren't a terrorist or laundering money.

AnxiousMum

Natwest was the ONLY bank that would open an account for me when I first arrived here. They opened my account based on the fact that I would provide them with copies of utility bills etc. when I got the first ones (funnily, the first ones that showed a paid amount on them - so took a couple of months!)

If you have an employment contract, a lease - these can be used as 'temporary' address verifiers till you get utility bills.

Did you bring statements or a bank letter of reference with you? This is what should be advised to all moving here - a letter from your bank detailing the mortgage history, banking history etc., should get you started on an account anywhere.

M_Thomson

nznewbie wrote: »

I have just moved here from NZ, where i work as a pharmacist, have a mortgage, have a credit card (which i have had for years) however me and my girlfriend have had such a problem opening a bank account and obtaining a prepaid credit card. Why is this??? All the banks are only going to make money with account fees etc and are obviously not going to put themselves in any danger with giving me an overdraft etc. Its not like we are asking for accounts with overdrafts or even a credit card with a limit (we would rather a prepaid one). My credit rating in NZ is awesome, but for some reason that cant be transfered.....

Is there anywhere where they are a bit easier in opening an account or getting a credit card???

Unlike the US or Australia/NZ we don't do Prepaid secured credit cards here. We do prepaid cards that do not count towards your credit history and tend to be provided by smaller financial companies rather than high St banks. You won't get a proper credit card for around 3 years with the majority of banks as you have to build up a credit history. I don't know why you would think you could transfer your credit history from a foreign country here? If a Brit went to New Zealand their credit history would not be valid there. Most banks here offer free banking if you stay in credit and don't go overdrawn. You would more than likely qualify for a basic bank account with minimum facilities at first and when you have been here for a while they would consider full facilities. What have banks said to you when you've tried to open an account?

gt94sss2

nznewbie wrote: »

I have just moved here from NZ, where i work as a pharmacist, have a mortgage, have a credit card (which i have had for years) however me and my girlfriend have had such a problem opening a bank account and obtaining a prepaid credit card. Why is this?

As others have said, its because you don't have a credit rating in the UK. Its sometimes possible to transfer credit ratings with certain companies (American Express and HSBC) between different countries but as you're already here, its a bit late for you to do that.

Some banks offer accounts especially targeted at people moving to the UK such as HSBC Passport though that has a small monthly fee.

Alternatively, you could try applying for a basic account.

I wouldn't bother with a pre-paid credit card, they are not popular in the UK and won't contribute to building up a credit rating here.

If you qualify, its worth getting ourself added to the electoral roll asap.

Regards
Sunil

PNPSUKNET

try getting a cashplus debit card and have credit builder, will cost £4.99 a month but will help you but you really need to be on the elec roll