UK Bank Account for Expat?

Moneymaker

He wants a UK account now because of worries about the Greek banking system.

He is not in the UK. He has no plans to go to the UK. He has no UK pension and only minimal income in Greece (he's still working).

I think I'll tell him to open a Swiss bank account. Much simpler!

eDicky

Moneymaker wrote: »

He wants a UK account now because of worries about the Greek banking system.

He is not in the UK. He has no plans to go to the UK. He has no UK pension and only minimal income in Greece (he's still working).

I think I'll tell him to open a Swiss bank account. Much simpler!

If you had originally mentioned that he works, earns euros, and banks in Greece, we could have understood his requirements. It usually requires a substantial deposit to open a Swiss or Luxembourg non-resident account. Expats have often been using Jersey or Isle of Man bank accounts, multi-currency, which have lower balance requirements to avoid monthly charges and provide debit cards. But now it's probably too late to shift his funds out, hopefully he is paid cash and has been putting it 'under the mattress'...

HappyMJ

Moneymaker wrote: »

He wants a UK account now because of worries about the Greek banking system.

He is not in the UK. He has no plans to go to the UK. He has no UK pension and only minimal income in Greece (he's still working).

I think I'll tell him to open a Swiss bank account. Much simpler!

Royal Bank of Scotland - Channel Islands

They do an offshore bank account denominated in GBP.

Even simpler than a Swiss account.

masonic

Paul_1977 wrote: »

It can be done.

http://www.hsbc.co.uk/1/2/contact-and-support/third-party-access

Not sure if it could be done with someone without a UK address.

It's opening a new account in the name of a non-UK resident that's a problem. Third party access won't help with that. I realise your earlier post suggested someone else open and run the account on behalf of the OP's friend, but then the OP's friend would have no legal claim to the account.

Moneymaker

Thanks for your replies. My friend has so little cash (he lives in Greece, remember) that I think he'll just have to continue with the Bank of Mattress.

HappyMJ

Moneymaker wrote: »

Thanks for your replies. My friend has so little cash (he lives in Greece, remember) that I think he'll just have to continue with the Bank of Mattress.

Do what everyone else is doing and get out early. It's going to get a lot worse.

jonesMUFCforever

If he has very little funds as suggested there is no point trying to open a UK bank account.

Paul_1977

Update from the government for UK nationals living in Greece.

And DWP has enabled people in Greece who receive a UK state pension to set up a UK bank account if they do not already have one.

https://www.gov.uk/government/speeches/chancellors-statement-on-greece-6-july-2015

Moneymaker

HappyMJ wrote: »

Do what everyone else is doing and get out early. It's going to get a lot worse.

He has very little in savings and no UK residence or pension so I don't see how that could be a viable option.

In any case, there's 25% unemployment (55% for under 25s) and the banks are closed so how much worse can it get?