opening a UK savings account

limousinlady
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opening a UK savings account

Post by limousinlady »

I have a UK address as well as being tax resident in France. I would like to open a new on-line savings account in the UK. Other bank accounts are registered to the UK address , as they were already in existence prior to the move to France. All accounts declared in France. Has anyone opened a 'new' account in similar circumstances and used their UK address or French address?

Simonflys
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Re: opening a UK savings account

Post by Simonflys »

Hi - would it be specifically for earning interest or just stashing some funds?

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Re: opening a UK savings account

Post by Fitter »

We have several accounts with National Savings and Investments ( NS & I) which we opened since moving to France and using our French address. We do all our business with them online nowadays. An additional advantage of saving with them is that your deposits are 100% guaranteed safe with no upper limit.

https://www.nsandi.com/why-go-paperless
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Re: opening a UK savings account

Post by ajm »

Fitter wrote:
Fri Apr 17, 2020 10:38 am
We have several accounts with National Savings and Investments ( NS & I) which we opened since moving to France and using our French address. We do all our business with them online nowadays. An additional advantage of saving with them is that your deposits are 100% guaranteed safe with no upper limit.

https://www.nsandi.com/why-go-paperless
We did the same - but be careful there IS an upper limit-----------£1Million/person :D
"If I had known I was going to live this long, I would have taken better care of myself."Mae West.

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Re: opening a UK savings account

Post by Fitter »

"It’s easier to fool people than to prove to them that they were fooled"
"You can't say A causes B if B happens first" - Thomas Sowell

limousinlady
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Re: opening a UK savings account

Post by limousinlady »

Simonflys wrote:
Fri Apr 17, 2020 10:25 am
Hi - would it be specifically for earning interest or just stashing some funds?
Earning a bit more interest than the one I currently have. Rainy day funds, and there seem to be a few more rainy days recently. :roll:

limousinlady
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Re: opening a UK savings account

Post by limousinlady »

Fitter wrote:
Fri Apr 17, 2020 11:43 am
If only! :lol:

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Re: opening a UK savings account

Post by elsie »

limousinlady wrote:
Fri Apr 17, 2020 9:59 am
I have a UK address as well as being tax resident in France. I would like to open a new on-line savings account in the UK. Other bank accounts are registered to the UK address , as they were already in existence prior to the move to France. All accounts declared in France. Has anyone opened a 'new' account in similar circumstances and used their UK address or French address?
I think you will have problems opening a savings account with a bank/building society you don't already have an account with. I have a UK address and tried earlier in the year, without success, when trying to find an account paying a higher interest than my UK bank. You could also have problems depositing large sums as they will want to know where the funds came from.

This was a typical response I received:
Providing you are a permanent resident in the UK (my emphasis) then you are able to apply for an account with us. The online application will ask whether you pay tax in any other country other than the UK in which you will need to advise Yes. A form will then be sent to you in the post for you to complete to advise that you pay French tax and to supply your tax insurance numbers.

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Re: opening a UK savings account

Post by limousinlady »

Coventry Building Society regular saver 2.5% gross. But I think it is only for residents, but I do have a UK address and am a part time resident.

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Re: opening a UK savings account

Post by Fitter »

You can open an account with NS&I whether or not you live in the UK. But you will need a UK bank account to transfer funds to NS&I using a UK debit card.

"Live outside the UK?
If you live outside the UK and we’ve asked you to prove your identity and address, you’ll need to send us both of these documents:

>certified copy of passport or official identity card
>original or certified copy of a bank statement (no more than three months old) showing your name and address"

https://www.nsandi.com/which-documents- ... nd-address
"It’s easier to fool people than to prove to them that they were fooled"
"You can't say A causes B if B happens first" - Thomas Sowell

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