Opening a UK bank account

Jaques
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Re: Opening a UK bank account

Post by Jaques » Sat Jul 13, 2019 2:24 pm

Simonflys wrote:
Sat Jul 13, 2019 12:52 pm
Well elsie as a Revolut shareholder you should be heavily promoting them surely? https://www.revolut.com/en-LT/help/more ... oney-safe/

Anyway I've used my Revolut card to buy premium bonds no prob at all! It functions just like any other debit card.

As for cheque books - what are they? 😜😜😜
Did you already have an account with Ernie?

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Simonflys
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Re: Opening a UK bank account

Post by Simonflys » Sat Jul 13, 2019 4:49 pm

With NS&I yes.
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Re: Opening a UK bank account

Post by Simonflys » Sat Jul 13, 2019 4:56 pm

Jaques wrote:
Sat Jul 13, 2019 2:23 pm
Tom wrote:
Sat Jul 13, 2019 11:38 am
I want to buy premium bonds, they insist on a sterling bank account. Is this account based on £ or €
:( You probably know it already but any PB prizes are not tax free in France.
Depends which box you are told to put the figure in)
No not really...

1. No matter what 'you're told'' - you are legally responsible for your tax declaration.

and

2. Unearned income always forms part of your taxable income (RFR) in France - it's not a 'which box' thing.

Obviously the income tax liability on your RFR will depend on your personal circumstances and may very well be zero. However, social charges are paid from the first euro of such income - again the rate applied will depend on your personal circumstances.
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Tom (Sun Jul 14, 2019 11:21 am)
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Tom
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Re: Opening a UK bank account

Post by Tom » Sun Jul 14, 2019 11:21 am

2. Unearned income always forms part of your taxable income (RFR) in France - it's not a 'which box' thing.
Not if you have a gambling win, although a big win may become subject to the fortune tax. Unfortunately Premium Bonds are not thought to be a gamble because you can always cash them in.
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Simonflys (Sun Jul 14, 2019 12:14 pm)
Candy is dandy
But liquor is quicker

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Re: Opening a UK bank account

Post by Mangetout » Sun Jul 14, 2019 3:05 pm

Jaques wrote:
Sat Jul 13, 2019 9:42 am
Has anyone opened a uk or sterling bank account with no uk address?
Yes, last year with Nationwide. But be prepared for a very poor service and an account with no withdrawal mechanism except with a card in the UK. No online transfers, no telephone banking. Basically the sort of account they give to bankrupts, which I found insulting. But if you just want somewhere to park funds, then ok.

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Re: Opening a UK bank account

Post by Tom » Sun Jul 14, 2019 4:41 pm

Candy is dandy
But liquor is quicker

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Re: Opening a UK bank account

Post by rabbit » Mon Jul 15, 2019 9:50 am

Jaques wrote:
Sat Jul 13, 2019 10:10 am
Thank you, have you used this account, can you recommend?
Revolut is very good, but bear in mind that access is via a smart phone app only. You cannot contact them other than via the app. For me this has not been a problem, but it might be for some.

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Re: Opening a UK bank account

Post by Fitter » Mon Jul 15, 2019 12:45 pm

There is a Transferwise account - online - anywhere - any currency.

https://www.telegraph.co.uk/money/trans ... s-account/
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Simonflys (Mon Jul 15, 2019 3:53 pm)
With inky blots and rotten parchment bonds: That England, that was wont to conquer others, Hath made a shameful conquest of itself”.
Shakespeare’s Richard II.

Identify what you have control over and find peace with what you don't.

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Re: Opening a UK bank account

Post by buzz » Mon Jul 15, 2019 8:12 pm

I have a Transferwise Borderless account and it is very good for what I want it for, ie receiving money electronically from clients and paying bills. I'm not sure you can for instance set up direct debits, I've never wanted to do but I don't recall ever seeing an option to do so. You can't send or pay in cheques either. In fact it's more like an extension of PayPal than a "normal" bank account, with the added convenience of having a bank card you can use to withdraw cash. But it's very user friendly and definitely useful for what it does.
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Simonflys
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Re: Opening a UK bank account

Post by Simonflys » Tue Jul 16, 2019 2:08 pm

Yep you can set up Direct Debits on a Transferwise Borderless account - just give the relevant organisation the sort code / account number (or IBAN) of the relevant account. As for not being able to pay in cheques - who still does that, just not necessary these days?? :roll:
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