not allowed an Australian bank account and UK bank account?

nathan1986

I oved over to Australia last year and kept my UK bank account open. I have also got an account now in Australia. I approached Natwest today to ask about some charges that had been placed on my account and explained that I now live in Australia. She told me that im not supposed to have and account in the UK now ive moved there? can any body confirm this and tell me the reasons and any ways round it? Seems quite silly really? also can i now get in trouble for not closing my account?

Thanks Nathan

bendix

nathan1986 wrote: »

I oved over to Australia last year and kept my UK bank account open. I have also got an account now in Australia. I approached Natwest today to ask about some charges that had been placed on my account and explained that I now live in Australia. She told me that im not supposed to have and account in the UK now ive moved there? can any body confirm this and tell me the reasons and any ways round it? Seems quite silly really? also can i now get in trouble for not closing my account?

Thanks Nathan

She's talking complete nonsense. Ignore her. Some of these lower level mandarins in banks simply don't know what they are talking about, yet we believe them.

I currently have bank and savings accounts in the UK, Jersey, Australia, New Zealand and Thailand. Never had any issues with that at all.

nathan1986

Thank you for your reply, I did suspect this and I requested that she check with the manager, she came back and told me the manager confirmed what she told me? That is what led me to here. I have also posted the same question on a forum called pomz in aus, which is a forum for people migrating to Australia and any people there have been using there accounts for many years after moving. She also tried to tell me that as a Permanenet resident of Australia I am not eligable for UK mortgages, she did not say with Natwest she said it as if i was no longer eligable in general and also said that I am not allowed to own and investments in the country. hmmmmmmmm? I think your right, no idea what she was going on about!

Thanks

Nathan

glider3560

She's talking carp.

The account may have a UK residency requirement to open it, but I can't see any problem with keeping the account when you've moved abroad.

Of course you can still have UK mortgages, investments, etc. Just maybe not with her bank.

NFH

I believe one of the few things you can't keep as a non-UK resident is an ISA, and this will be HMRC rules rather than a bank's own rules. Perhaps someone else can confirm.

glider3560

NFH wrote: »

I believe one of the few things you can't keep as a non-UK resident is an ISA, and this will be HMRC rules rather than a bank's own rules. Perhaps someone else can confirm.

You can keep it, but not open a new one or subscribe/fund the account

bendix

glider3560 wrote: »

You can keep it, but not open a new one or subscribe/fund the account

This is correct

bendix

nathan1986 wrote: »

Thank you for your reply, I did suspect this and I requested that she check with the manager, she came back and told me the manager confirmed what she told me? That is what led me to here. I have also posted the same question on a forum called pomz in aus, which is a forum for people migrating to Australia and any people there have been using there accounts for many years after moving. She also tried to tell me that as a Permanenet resident of Australia I am not eligable for UK mortgages, she did not say with Natwest she said it as if i was no longer eligable in general and also said that I am not allowed to own and investments in the country. hmmmmmmmm? I think your right, no idea what she was going on about!

Thanks

Nathan

Then her manager is an idiot too.

About mortgages, she is probably correct in saying you wouldnt be able to APPLY for a UK mortgage based in Australia, but if you have one already there would be no problem.

As for saying you can't have investments in the UK . . I can't believe she said that and suspect you must have misunderstood her meaning.

bengal-stripe

nathan1986 wrote: »

.....to ask about some charges that had been placed on my account and explained that I now live in Australia.

That is the crux of the matter.

Your account seems to be less then perfectly run (incurring charges), there also might be no regular funding from a salary or other incoming monies. What is the bank to do if you default? They can chase a UK resident through collection agencies, the courts, bailiffs etc., they cannot chase someone residing in Australia.

Yes, the bank can open or keep open accounts for people no longer (or never) residing in the UK, but they must have funds invested in the UK. Do you have assets here: property, savings etc?

Just in case, for the bank to know where to turn to, if push came to shove.

97trophy

RBS / NatWest have some internal issue with expats and Australia. I think this comes from higher up then your branch manager.

olly300

97trophy wrote: »

RBS / NatWest have some internal issue with expats and Australia. I think this comes from higher up then your branch manager.

It probably due to the number of expats and Australia's who leave their accounts in a mess.