Bank accounts for expats

Helenochka

Yes, you can apply if you live abroad. 

And yes, as I explained, you need to have a parallel UK bank account (not Wise) from which to pay money into and receive money from the NS&I account. 

So it might not suit the OP. 

But it could be of interest to expats like me whose existing UK (current) account is not threatened with closure and who have sterling savings in that account earning zero interest. 

The link to Skipton International is very interesting so thanks for that. I’d also considered HSBC Expat. 

For me personally, the problem with opening an offshore account based somewhere like Jersey is that the French tax authorities regard Jersey as an “uncooperative” jurisdiction. So any account I would open there is liable to raise a red flag for them.  I don’t have anything to hide and declare absolutely everything but still, the very fact of having an account in Jersey is liable to attract unwanted scrutiny. 

SusieT

I think it was either Monzo or Monese that would open a current account if you live in UK or EEA so it may be worth looking at those to receive the money and then transfer it to wherever with Wise or similar?

Band7

SusieT said:

I think it was either Monzo or Monese that would open a current account if you live in UK or EEA so it may be worth looking at those to receive the money and then transfer it to wherever with Wise or similar?

Monese is not a Bank. But yes, you could apply as an EEA resident, just like you can apply for other non-bank account like Wise,

Monzo state "Yes, you currently need to be resident in the UK to get a Monzo card. We hope to launch internationally in the future though!"

Borisjake

IOM bank but you'll need a substantial deposit. Wise is excellent for transferring money to wherever you live.

Helenochka

I can second that endorsement of Wise. Always found them very efficient. 

Band7

Wise are reliable and may be the right solution for your money transfer needs. However, I found their EUR/GBP exchange rates (incl fees) increasingly uncompetitive and I am now using the Fineco Multicurrency account instead. Unfortunately, this is not an option for the OP as you need to be a UK or Italian resident to have an account with them. 

Wise appear to be riding on a wave of popularity and relying on people not checking for alternatives. 

Terry1966

i use wise myself. BUT not on this occasion, they are not a PRA regulated bank

BrittanyBoy

Citibank have recently advised that they are closing all UK current accounts - except for "high value" customers. Unfortunately I do not have 3 million USD on deposit with them (!), so looking for a new UK bank as my pension income arises in sterling, but am fiscally and physically resident in EU. Experience thus far is that "international" banks based in IOM or CI have large minimum deposit levels (50-80K£). For reasons of security/protection prefer to stay with regulated institutions. I think Barclays did something similar a while back. Any ideas?

friolento

HSBC might let you apply for one of their basic accounts which would come with FSCS protection. They also do a Global Money account which may or may not delver what you are after.

The much faster way to get a UK sort code and account number is through Wise, which is ideal for transferring money from GBP to EUR.It doesn't come with FSCS protection but if you move your money to EUR on a regular basis, your risk is limited.

ellieellie1955

Monzo, Wise, Revolut. All of those are great