Expat savings account

Oz304

Moved to Australia earlier in the year, sold the house with a view of transfering the money overseas to buy a house. Since then the exchange rate is very low compared to what it has been so I've left the money in a building society account.

Does anyone know of a decent savings account that can be opened over the internet (without me having to open the account in person in the UK) that would offer a better interest rate than the 0.75% I get now?

Thanks

martinman3

I believe that as you are no longer resident in the UK you are restricted to offshore accounts which pay interest gross (should be declared on your Aussie tax return), you will need to check the compensation levels and/or risk involved. Many building societies allow you to keep any existing accounts open if you move abroad and I assume that is the case here.

The link below lists what is available.
http://moneyfacts.co.uk/compare/offshore/accounts/

MoneySavingNovice

Providing your an ex-pat many banks will open an account for your - excluding ISA's for example the Halifax, Co-Operative Bank etc.

Ask them directly - some will and some won't. Ensure that you have docurmentay proof of who you are, including your address and pass-port and fill in a R105 form for the inland revenue - so your not hit with a double tax liability.