Bank account for constantly overseas

Julier4143

Hi there
I travel overseas for the majority of the year, only coming to UK once or twice. My wages (UK company) are paid into my Nationwide Account BUT I am wondering, is anyone can recommend a better account for me to use. Nationwide are pretty good but the overseas transaction rates etc are ridiculous. I need an account where I can draw out cash, use the card (debit) to purchase goods again hopefully without being charged transaction fees etc. I rarely use the credit card. many thanks savers, remember, every little helps

Jo_Blogs

It really depends where you are overseas. If it's Europe, then it's between Metro bank current account,Virgin Money essentials account, and M&S current account. Although, having said that these banks do either charge for purchases or cash withdrawls.

This link might help:-

http://www.thisismoney.co.uk/money/cardsloans/article-2296284/Best-debit-credit-cards-overseas-spending.html

eDicky

There are plenty of solutions, 'specialist' credit cards and prepaid cards that can be funded from your Nationwide account, instead of using their debit card.

http://www.moneysavingexpert.com/travel/cheap-travel-money

http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards

For example, today I paid for my lunch in Singapore using my Loot prepaid card, straight MasterCard exchange rate with no fees, funds loaded as needed, by bank debit card or FP - https://loot.io

jonesMUFCforever

Look at overseas accounts for people working abroad - all high street banks will offer them but Nationwide probably will not.

grumbler

Julier4143 wrote: »

... Nationwide are pretty good but the overseas transaction rates etc are ridiculous.

Nationwide's rates aren't the worse. See debit cards from hell

bigadaj

Julier4143 wrote: »

Hi there
I travel overseas for the majority of the year, only coming to UK once or twice. My wages (UK company) are paid into my Nationwide Account BUT I am wondering, is anyone can recommend a better account for me to use. Nationwide are pretty good but the overseas transaction rates etc are ridiculous. I need an account where I can draw out cash, use the card (debit) to purchase goods again hopefully without being charged transaction fees etc. I rarely use the credit card. many thanks savers, remember, every little helps

Wouldn't a combination of a flexplus account and a select credit card be appropriate?

moneyfoolish

My daughter has gone to live and work in Switzerland. She has a house here with a mortgage. Is she allowed to have a UK Current Bank Account to use for paying her mortgage?

jonesMUFCforever

moneyfoolish wrote: »

My daughter has gone to live and work in Switzerland. She has a house here with a mortgage. Is she allowed to have a UK Current Bank Account to use for paying her mortgage?

.................Yes................

Biggles

jonesMUFCforever wrote: »

.................Yes................

Does that mean only if a nonres has a mortgage they can open a UK bank account? Or would just ownership of a property qualify them?

jonesMUFCforever

Biggles wrote: »

Does that mean only if a nonres has a mortgage they can open a UK bank account? Or would just ownership of a property qualify them?

I read it as the OP already had a mortgage and account before leaving the UK. ( Pretty unlikely that someone would have a mortgage without an account to pay it)

There is no problem with keeping the UK account open to service the mortgage.

Any EU citizen (for now) has the right to open an account in any other EU country.
(I know in this case that Switzerland is not in EU).

Biggles

jonesMUFCforever wrote: »

I read it as the OP already had a mortgage and account before leaving the UK. (Pretty unlikely that someone would have a mortgage without an account to pay it)

There is no problem with keeping the UK account open to service the mortgage.

Most banks have no problem with keeping any account open after you have become nonres, mortgage or no. Opening a new one (if resident outside the EU) is the tricky bit.

Any EU citizen (for now) has the right to open an account in any other EU country.
(I know in this case that Switzerland is not in EU)

Now that's an interesting point. Will the opening of bank accounts become harder or be made easier after Brexit???