Banking whilst living abroad

Leasholm15

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

grumbler

Define 'used'.

Any account with online access can be used and some banks, e.g. Chase, even don't have branches.

That said, for most banks you'll have to prove your UK address and to keep secret that you aren't a UK resident.

wmb194

Leasholm15 said:

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

I don't know but given it markets itself as a global bank HSBC is often a good place to look.

p00hsticks

wmb194 said:

Leasholm15 said:

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

I don't know but given it markets itself as a global bank HSBC is often a good place to look.

How To Apply For An Account Overseas | International - HSBC UK

DullGreyGuy

wmb194 said:

Leasholm15 said:

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

I don't know but given it markets itself as a global bank HSBC is often a good place to look.

It's a banking license issue and so yes HSBC Group is global but it has companies in each territory it operates in which are typically only licensed in those countries. Some countries have passporting rules, like companies in the EU can automatically use their local license to operate in all EU countries.

The biggest issue is where you are domiciled when you open the account/buy the product. There is typically less issues servicing a product if the customer subsequently moves overseas (or Brexit happens) but it does vary by product and legal jurisdictions involved.

For those more geographically mobile banks like HSBC offer "ex-pat" accounts which are done through their Channel Island company (others use Bermuda or typically other British protectorate tax havens) but they are typically aimed at the well off.

If the OP just wants to operate the account then it's likely they can get away with it, particularly if they maintain a UK address. Clearly the problem will come if HSBC decide to refresh their KYC checks at which point you'd need to come clean about being in Oz

born_again

Leasholm15 said:

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

Any reason for doing this?
As using a UK card in Australia is going to cost.

If you are living in Australia, then a local bank account is the best option. 

If you are just wanting to keep a UK acc open in case you come back, then best to speak to banks & ask. As many will not allow people living oversea's to keep UK account.
There are issues over tax reporting (FATCA) that causes a lot of work for banks. As you would need to tell bank you are living in Australia, but have a correspondence address in the UK.

uptdale

born_again said:

Leasholm15 said:

Does anyone know of a bank account that can be used if you live in Australia and have a UK address (my parent's) I want to be able to access the bank account from Australia.

Any reason for doing this?
As using a UK card in Australia is going to cost.

If you are living in Australia, then a local bank account is the best option. 

If you are just wanting to keep a UK acc open in case you come back, then best to speak to banks & ask. As many will not allow people living oversea's to keep UK account.
There are issues over tax reporting (FATCA) that causes a lot of work for banks. As you would need to tell bank you are living in Australia, but have a correspondence address in the UK.

The obvious reason for wanting a UK bank account is where you have UK income and expenses but live in Australia.  That used to be straightforward, but no longer.

You could look at Wise (formerly TransferWise).  I live in the UK but have occasional income and expenses in other countries, and for that the Wise Multicurrency account works well.  You get a virtual bank account in each country - in Aus with a BSB code and account number and in the UK with a UK sortcode and account number.

gt94sss2

HSBC UK. Look at their Global Money debit card which would be a good way of accessing your funds while overseas.

If you bank with HSBC in both the UK and Australia moving money between countries is really simple as well