Bank account for non-UK resident

RastaDog

Hello,

Does anyone know of a UK bank (FSCS compliant) that allows non UK residents to open an account?

I'm a UK national living in France. My previous UK bank closed my account due to me being non-resident. I'm looking for a basic bank account that will allow me to pay my personal pension in to it. My pension provider tells me it has to be FSCS approved (so neo-banks are out). They'll transfer to my French bank account but I'm looking to not be at the whim of exchange rate fluctuations.  

Daliah

Try the HSBC Basic Account. It’s the only UK bank account I  am aware of that would do what you want. Though not sure you can open it entirely online. Good luck https://www.hsbc.co.uk/current-accounts/products/basic-bank-account/

Daliah

To get the best deals in Euros, use a currency transfer service such as wise.com to transfer your money as and when convenient from the HSBC Basic to your French current account. 

RastaDog

Thanks @Daliah I'll give HSBC a try. I have a Wise account (the neo my pension provider wouldn't accept!) to do my foreign exchange transfers.

Daliah

I understand why some pension providers are reticent about paying into accounts which have no FSCS or equivalent protection. They'd probably get hammered about lack of duty of care if they paid to e-money providers if the e-money provider goes bust and the pensioner loses their money.

Daliah

@RastaDog please can you report back with your experience of applying for the HSBC account. It will help others with similar requests.

RastaDog

The HSBC application process is simple enough, even if a little strange as it requires a video selfie! However, I think I have a sticking point; proof of address.

HSBC will accept the standard kind of documents (bank statements, utility bills, etc) BUT they have to have come via the post, they don't accept 'internet generated' documents (emailed pdf's) As all of the those documents for me come via the web/email (and I mean every single one, nothing I have comes through the post, even tax bills etc) I am a little stumped.

I'm not quite sure how they'll know the difference (between a forward of a pdf I receive via email and an 'original' that I scan to pdf) but that's another matter. For an internet based application process, it strikes me as ironic that they won't accept an internet generated proof of address.

DullGreyGuy

how do you have to submit it? If its by email/online then worst case... print the PDF, scan it in, send it off. You'd tell the difference because a system generated PDF is perfect whereas a document that's scanned in always has the shadow of the fold lines, normally not perfectly straight etc etc There can be other tell tell signs like the print alignment lines in the PDF that their industrial printers wont be printing.

If you have to send it in my post then these days most tend to turn a blind eye to internet docs you've self printed but again if someone wanted to check the paper stock of home printers and print quality is often below that used in the massive industrial printers these companies use.

RastaDog

Also, documents will require certified translation. I'm not quite sure how the transaction of a bank statement (even if I did get it via the post) works as a proof of address; what exactly is being translated that assists in that process?

RastaDog

*transaction = translation

RastaDog

@DullGreyGuy it did cross my mind to simply print a relevant pdf and scan it to send as part the application! Maybe I ought fold it before scanning!

But, no, one can't do that can one?