Non Residents Opening a Bank Account in the UK

Discussion in 'Finance, Property, Law' started by Busterdog, May 1, 2008.

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  1. I, rather stupidly in retrospect, closed my UK bank account on retiring from the army and moving to the USA over 20 years ago. Although not a UK resident I wish to re-open a current account in the UK though have been informed it is not possible. Any advice?
  2. Get someone to open one here for you - get them to forward mail etc. Once open for a while, give them a correspondence address abroad.
  3. It’s a bugger. Usual $hite, you will need two forms of ID including utility bills based on a UK address.

    You should however still be able to open up an offshore account with one of the High St banks. You get all the benefits except they don’t pay any interest.

    Just need to prove you are non-resident, and I expect these days you may have to jump through a few more hoops
  4. It shouldn't be a problem, depending on whom you speak to at the bank.

    As with any new account these days, you'll need proof of identity and proof of address. A US address shouldn't cause a problem, although it might confuse the person you speak to.

    If you can't work it directly, try talking to your U.S. bank, they might be able to help.

    No reason why you shouldn't be able to get an interest bearing account, but the U.S. taxman will want his chunk.
  5. I have just opened my son a new account as he was not happy with his old bank.

    He is on exercise so i have done everything over the net,at no point have they asked for proof of address,utility bills etc.Its all done got cheque book,debit card.

    The only thing i could not do is sign the final form.
  6. Great but where do the forms, letters etc from the bank get sent to?

    A UK address or one abroad somewhere?

    The problem is that most if not all UK banks need a UK address to let you open an account, which is odd when you consider we are all living in the EU and their is supposed to be freedom of movement for people and stuff.
  7. Depends on the bank. Some will allow you to open an account with a UK address (e.g. parent) which you can then change to an overseas address for correspondence etc.
  8. Not entirerly true. I opened my account whilst serving in BFG, so no UK address required. (I know it was a BFPO address).

    And that was 15 years ago.
  9. BFPO is a UK address.

    Millhill IIRC :wink:

    As noted there are ways around it but if like me you have no relations and no one you would trust with your cash in the UK then you have no chance.
  10. Be careful about asking somebody else to open an account for you. Under money laundering regulations, the banks will look out for this, and if the person is caught, could get into a reasonable amount of trouble. Even if you do open an account, the systems and controls that retail banks have in place will highlight something is amiss (I won't go into how) and they will ask perfectly reasonable questions.

    Is the purpose to be able to have cash on access when in the UK? If so , why not open a sterling account at a US bank that has branches in the UK. Citibank has branches here and have ATM's.
  11. blue-sophist

    blue-sophist LE Good Egg (charities)

    There are implications from the USA PATRIOT ACT which are not insurmountable. Basically it's the usual nausea of ID and Money Laundering.

    The offshore elements of the usual UK High Street banks, operating from Jersey, Guernsey or IOM might be viable. Worth a bit of Internet exploration, IMO.
  12. Citibank will open a Stirling account for you provided you open a US$ account with them too. I have both and an Australian Dollar account with them.
  13. if upi live in the states, you are going to get hit by the Patriot Act whatever. Even if you have an account with a UK bank, if you are moving cash from a US bank into it, you'll get picked up

    I have a dollar account with Shitti Bank as well as a sterling one. They are not the best but couldnt think of an alternative.....and at least it avoids all the extra money laundering id checks and phone calls from compliance kn*bs