Living abroad, paid in UK?

benprotein

I live in China but am paid in GBP in the UK. I regularly need to withdraw cash for my family to live on (probably GBP 1800 per month). I currently use the Nationwide Flex account which used to be free for withdrawals but has recently increased to a little less than 1%.

I have heard rumours that they will soon be stopping the overseas withdrawal facility altogether. Can anyone confirm or deny this?

I also sometimes find ATMs here refuse to let me withdraw cash for no reason and the Nationwide often block my card because it is being used in China, even though we have been living here for 3 years!

Does anyone know if an offshore, say HSBC account would be a better (cheaper and more convenient) way to go?

missile

You might want to open an account in china?

There are many foreign exchange companies who offer good rates of exchange for large or regular transactions > http://www.hifx.co.uk/

benprotein

Thanks.

I already have a bank account in China and I will find out if I can transfer cash direct from the Nationwide account to the Chinese account FOC on a monthly basis.

If not I may have to open an offshore account to transfer from. I know someone who does this monthly direct to his Chinese account for his living expenses.

DesG

benprotein wrote: »

I have heard rumours that they will soon be stopping the overseas withdrawal facility altogether. Can anyone confirm or deny this?

They are stopping the overseas withdrawals on cashcards only. If you have the full debit card, you'll be fine as you are.

Cheers, Des.