Is there a savings account for UK citizens living abroad?

brissle

Hi,
My son lives and works in New Zealand.
He will shortly become entitled to some money which he wishes to keep in the UK for future use.
Are there savings accounts available to non-residents?
He can use our (his parents) UK home address if it would help, but he wants to be open about not living here.

We would be grateful for any advice.

xylophone

Could your son enter into a signed agreement to lend you and your spouse the money?

You and your spouse might then choose to open a savings account in your own name to hold this money and then repay the loan to your son when he returns.

brissle

Hey - that's a clever idea.
We are in the process or doing our wills (which has caused us to think about financial things) and I'll run that idea past the solicitor to see if he thinks it would be watertight.

Thanks for the idea.