Moving abroad after university – what bank account to keep?

int.student

Hi,

I'm an international student and been living in the UK since I started university. I'm arriving at the end of it and moving back home for now. I've been told that it would be best to keep a bank account open just in case I move back here later on, especially for credit checks, etc. Plus, I've got some subscriptions I want to keep. The only thing is that I've got couple of accounts open and I'd prefer keeping only one. Just not sure which.

I've got current accounts with HSBC + Halifax and savings with Halifax + Barclays. I'm pretty sure Halifax won't let me register with a non-UK address since it's a building society but HSBC and Barclays should. Just wondering couple of things:

1) If I were to move back to the UK, would the duration my account had been open with a UK address matter? I'm asking this because some accounts have been open recently (less than 1 year) and some for longer (more than 2 years).

2) Am I allowed/Is it best advised to keep a current and/or a saving account (non-ISA)?

3) Anyone faced a similar situation or has any advice on my situation?

Thanks

System

Halifax hasn't been a building society for over a decade - not that building societies specifically prohibit foreign addresses, in any case.

Best to call Barclays, HSBC and Halifax to see if they are happy with a non-UK address. They may even have differing policies depending on your country of citizenship / residence.

int.student

Thanks. Will definitely do that but pretty sure Halifax won't allow it. I tried to changed it to my home country address just for the summer and they didn't let me.

So, comes down to my other questions: for the purpose of moving back to the UK later on in my life (so for credit checks and stuff like that):

1) Is there a difference between a savings and a current account?

2) Does the duration my account had been open with a UK address matter? I'm asking this because some accounts have been open recently (less than 1 year) and some for longer (more than 2 years).

Any opinion would be much appreciated

Westie983

You can change your address to a non UK one but you can no longer open any new products with Halifax. You can either change your address online via your online banking, or in branch, or fill out this form and post it to
Halifax,
PO Box 548,
Leeds,
LS1 1WU.

http://static.halifax.co.uk/assets/pdf/HelpCentre/pdf/change-to-customer-address.pdf

In relation to your questions,

1. Bank account can be used online and in shops and over the counter in ATM's, Savings account can be used over the counter and in ATM's

2. No this wont matter as your address will be changed to your foreign address, unless you want to use a correspondence address and therefore you change your residential address to your non UK address and keep the correspondence to a UK one.
Duration makes no difference at all when it comes to your bank account history its more to do with your credit file and if you are registered on the electoral role, although a bank account opened for a long period of time can help when asked questions for new products, but you wont be able to do this with a non UK address

You could also just change your address back to a UK one if and when you return to the UK, and register to the electoral role at that point.

int.student

Great thanks. I was basically asking because I want to keep the HSBC one as it's a major bank. But was unsure if it's the best choice since it's the most recent account I have and not used as my main one. Will be keeping that one then as the specifics don't really seem to matter.

If anyone has any other opinion or want to share their experience, would be great