International Banks

I would also expect those costs to go up each year, so it will be at least £3000, but probably more.

I would also expect those costs to go up each year, so it will be at least £3000, but probably more.

yes so true.  I know the cost went up since I applied and now my new complete application is slightly more then what I paid the first go around.  But knowing the amounts (roughly) and the timeline is helping me to budget for the next 5 years so it isn't a huge chuck out all at once 

I thought it would be impossible to keep a US account open once I am a UK citizen??

Hi Becca. I just want to reiterate that just because you are moving to the UK and starting on the road to settlement, you do not ever have to give up your US citizenship or your bank account. 

Also, as with all things in life, your goals may change. I moved to the UK to be with my husband over 9 years ago. I had planned on going the whole route, straight to naturalisation. Then we made the decision to move to the US and instead my husband is the dual. Anyway, what I am saying is that just because you move, it doesn't mean you have to cut off all ties to America. You still vote (by absentee), you still have to file your taxes and you can keep your bank account open as long as you like.

I am also an advocate of not rushing and transferring all of your $$$ into £££. You talk about giving your soon to be spouse access to your $$$. I would err on the side of caution with that. This is your money, after all. And considering how strong the £ is against the $, your $$$ may not last as long as you hope!

Have you looked into Bank of America? They have a reciprocal agreement with Barclays (a major UK bank) for free ATM withdrawals. There will be a minimum amount you can withdraw per day, however once you get settled and know how much money you need, then you can set up bank transfers for larger amounts.

Hope this helps!

Naturalisation is currently £855 not £655.  And all those costs increase twice a year.  Plus if you start with the fiance visa that's another fee.

Becca, you've mentioned in other posts that you would like to marry in the UK.  In that case, your total cost to citizenship would be:

Fiance(e) visa:  Currently costs £851 (add $300 if you want optional settlement priority processing)

FLR(M) number 1:  Currently costs £578 if applying by post (£953 if applying in person)

FLR(M) number 2:  Currently costs £578 if applying by post (£953 if applying in person)

SET(M) for ILR:  Currently costs £1051 if applying by post (£1426 if applying in person)

Citizenship:  Currently costs £874

So, if you opt for all the cheaper options (not using priority processing, not doing in person appointments) the total cost = £3932.

If you opt for all the optional more expensive options (settlement priority service, doing the in person appointments) the total cost = £5307.

And remember, as historyenne said, the fees increase twice per year, so your costs will be higher than these examples.

Note:  All fees mentioned above are from the UKBA fee pages (accessed just now).

Naturalisation is currently £855 not £655.  And all those costs increase twice a year.  Plus if you start with the fiance visa that's another fee.

Oops typo on my part there

Note:  All fees mentioned above are from the UKBA fee pages (accessed just now).

I couldn't find a cost on the UKBA website.  It just kept telling me it depends on the application.  Thanks for the up date on the naturalization fee

I keep my US account open for most of the reasons already mentioned, and I do think it's a good idea.

I read somewhere that Chase bank is very good about allowing you to manage US-UK accounts in one place - easy to transfer money between them, with decent exchange rates and fees. I'm already set up with banks here and there, so I don't have any experience with Chase myself, but that might be something to look into. I only read it in passing, so I'm not sure how accurate it is, but just thought I'd pass it along if you wanted to explore it further. :-)

Sent from my GT-N7000 using Tapatalk 2

don't forget the Life in the UK test too. It isn't a load, but part of the required costs.
I think costs have about quadrupled since I came here in 2006, but the increases have slowed down some recently. As others said, your taking on dual citizenship has nothing to do at all with banking and such. You aren't abandoning US citizenship.

Sent from my GT-I9300 using Tapatalk 2

I keep my US account open for most of the reasons already mentioned, and I do think it's a good idea.

I read somewhere that Chase bank is very good about allowing you to manage US-UK accounts in one place - easy to transfer money between them, with decent exchange rates and fees. I'm already set up with banks here and there, so I don't have any experience with Chase myself, but that might be something to look into. I only read it in passing, so I'm not sure how accurate it is, but just thought I'd pass it along if you wanted to explore it further. :-)

Sent from my GT-N7000 using Tapatalk 2

I did check into Chase and they do not have UK locations. So, I am just going to open up a bank account once I am over there and keep my US one open.  And I will have dual citizenship.  That will be the smart thing to do. 

In order to open a bank account in the UK you will need your passport plus proof of residence.  I am visiting my fiance one last time before I go back to the States to apply for my fiance visa and I thought I'd be proactive and open a bank account.  No such luck without being a citizen of the UK with proof of residence.  You'll be good with the passport (we asked) but make sure your are on the utilities/council tax bill.  We even tried to open a joint account and that didn't work. 

j_burke great advice.  We actually put my name on the gas and water bill last week.  So hopefully when I get over there (soon fingers crossed) I will have proof of residency established and can open an account immediately