Opening new UK Bank Account as French Resident

[pomme homme]

The last two posts are seemingly contradictory - as Abbey National Building Society became Banco Santander!

[bubbles1]

The last two posts are seemingly contradictory - as Abbey National Building Society became Banco Santander!

This happened before that took place.

[Tom]

Put simply, and despite the EU legislation, the UK banks just don't want non-UK residents' business and will put up no end of obstacles to avoid having to accept this.

That's strange because the UK prided itself on being the banking capital of Europe. It's strange too because NS&I are more than happy to open new accounts and even make payments in euros into your European bank.

Off topic I know but maybe worth a mention. First direct allow you to open and close all kinds of accounts. We both have 12 month regular saver accounts which pay 5% pa. The only hassle... four declarations of a/cs opened and closed on your impôts 3916 return each year.

[Le Démerdeur]

That sounds interesting, I have my UK savings and income in two Santander 123 accounts but the interest is now halved to 1.5% less £5 per month account fee and interest is only paid on the first £20K.

Has the first direct account been like that for years or is it perhaps just one year only?

How:why do you have 4 accounts, it says only 1 per person but then so did Santander and the clerk told me to open a second, the admin of having to have money going in and out of each one each month is a real pain, the First direct sounds good, are there any others like that? I need to do something with the savings getting no interest and the monthly income that gets none.

[Tom]

https://www.moneysavingexpert.com/savin ... -accounts/

The fd regular saver a/c runs for twelve months and then matures. That's why a couple would each have one opened and one closed every year, requiring four seperate declarations if you constantly renew, which we have both done for over a decade. Perhaps it could be called a revolving savings account. OK, it only produces £97 each pa if you put aside £300 per month but every little...

[pomme homme]

Put simply, and despite the EU legislation, the UK banks just don't want non-UK residents' business and will put up no end of obstacles to avoid having to accept this.

That's strange because the UK prided itself on being the banking capital of Europe. It's strange too because NS&I are more than happy to open new accounts and even make payments in euros into your European bank.

Off topic I know but maybe worth a mention. First direct allow you to open and close all kinds of accounts. We both have 12 month regular saver accounts which pay 5% pa. The only hassle... four declarations of a/cs opened and closed on your impôts 3916 return each year.

Tom, you do yourself no credit by quoting selectively. The post of mine, from which you've selectively quoted, starts as follows:

Other than the NS&I accounts, if what you want is an interest bearing account don't even bother with the UK mainstream banks!

[Leclairon]

Hi again
First Direct was the first one I contacted as I thought I had read (probably previously on FE) that they would open accounts for non-residents. However, i was told not possible, even checked with a colleague ...

I daresay, like the other accounts, if opened whilst still UK resident, then OK to keep, but she was definite that I couldn't open a new account as a non-resident.

Leclairon

[Tom]

Tom, you do yourself no credit by quoting selectively. The post of mine, from which you've selectively quoted, starts as follows: Other than the NS&I accounts, if what you want is an interest bearing account don't even bother with the UK mainstream banks!

PH, rather than quoting selectively I was attempting to echo your comment about NS&I by saying that it was strange that British banks don't follow their example.

[bubbles1]

Hi again
First Direct was the first one I contacted as I thought I had read (probably previously on FE) that they would open accounts for non-residents. However, i was told not possible, even checked with a colleague ...

I daresay, like the other accounts, if opened whilst still UK resident, then OK to keep, but she was definite that I couldn't open a new account as a non-resident.

Leclairon

I tried to open an account with them about 7 years ago out of interest and they said no way - I was not a UK resident - didnt want to know.

[Coldonat]

My wife and I have had a joint a/c with Barclays for years. We wanted to ditch Barclays and put her on my Nationwide a/c, which I have had for even longer. Whilst on a visit to the UK a few years ago she asked in 'my' Nationwide branch if it would be possible and was told 'no problem'. When we applied officially we were told that it wouldn't be possible because she (we) lived in France.