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Topic: Bank accounts  (Read 2652 times)

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Bank accounts
« on: January 19, 2003, 08:11:32 PM »
I'm planning to move to the UK in the fall (my cats won't be through the rabies hoops until August, at the earliest...). I make my living as a freelance writer (and I expect to qualify for a "writers, artists and composers" visa, which will allow me to freelance in the UK). From what I've been reading, I'm getting nervous about trying to establish a bank account in the UK, as it seems you need to provide all sorts of references and proof of employment just to get an account. I can certainly provide records of my US banking history as well as contracts that show my income for various freelancing gigs, but I don't have "employment" in the standard sense and therefore worry I'll be unable to get an account. And if I have trouble establishing an account, I'm not sure how I'd rent a flat...

I've been hoping I could establish an account at a bank in the US that has a UK presence, but it's not clear to me that would work, either. I contacted HSBC (or HBSC? I can't keep the letters straight!), which does have banks here in Los Angeles and London, but it appears that if I had a US-based account, only my ATM would work in the UK. I already have an ATM card that should work there, so that's not very helpful. Does anyone know if Citibank would provide UK access to a US-originated account? Or does anyone have experience trying to open an account without a "regular" job?

It's all very confusing, so this may not make any sense. But if it does, and anyone has advice, I'd appreciate it.

Thanks!
Denise


Re: Bank accounts
« Reply #1 on: January 19, 2003, 11:52:36 PM »
Quote
I'm planning to move to the UK in the fall (my cats won't be through the rabies hoops until August, at the earliest...). I make my living as a freelance writer (and I expect to qualify for a "writers, artists and composers" visa, which will allow me to freelance in the UK). From what I've been reading, I'm getting nervous about trying to establish a bank account in the UK, as it seems you need to provide all sorts of references and proof of employment just to get an account. I can certainly provide records of my US banking history as well as contracts that show my income for various freelancing gigs, but I don't have "employment" in the standard sense and therefore worry I'll be unable to get an account. And if I have trouble establishing an account, I'm not sure how I'd rent a flat...

I've been hoping I could establish an account at a bank in the US that has a UK presence, but it's not clear to me that would work, either. I contacted HSBC (or HBSC? I can't keep the letters straight!), which does have banks here in Los Angeles and London, but it appears that if I had a US-based account, only my ATM would work in the UK. I already have an ATM card that should work there, so that's not very helpful. Does anyone know if Citibank would provide UK access to a US-originated account? Or does anyone have experience trying to open an account without a "regular" job?

It's all very confusing, so this may not make any sense. But if it does, and anyone has advice, I'd appreciate it.

Thanks!
Denise



As far as a bank account goes, if you have current bank account details or credit union details from the states this will do.  You will need a birth certificate.  You'll need a passport/visa and some proof that you'll be staying in the country for the forseeable future.

The bank that you're talking about is HSBC (Hong kong singapore bank of commerse I think it stands for.) and if you have money in the states your cards will work at any UK ATM machine.

I believe that you can open an account without a regular job; considering most company's will insist that they pay you into it when you get a job with them.

As far as renting a flat is concerned I'm not sure how you would stand.

I hope I've been of some use.


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Re: Bank accounts
« Reply #2 on: January 20, 2003, 12:06:09 AM »
This is very helpful and encouraging! I will arrive armed to the teeth with ID, bank statements and anything else proving I am me and I am solvent, and then I will pray.  ::)

Thank you!


Re: Bank accounts
« Reply #3 on: January 20, 2003, 12:25:03 AM »
You'll probably be able to get an account, but don't expect full privileges for at least 6 months.  It's normal to only be allowed to deposit and withdraw money for the first six months.  They won't want to give you a bank card or cheques for a little while until you establish yourself.

There are banks like Citibank here that allow you to keep your money in both UK dollars and GBP.  You might want to look into one of those kinds of banks.

Good luck!


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Re: Bank accounts
« Reply #4 on: January 20, 2003, 02:22:58 PM »
We ran into the "can't get a bank account without a UK residence, can't get a UK residence (rental) without a bank account" Catch-22 when we arrived last autumn.  We had statements, letters, you name it from our US bank, mortgage company, a letter from Bret's work verifying employment and salary, and his work permit.  Barclays was completely unhelpful.  HSBC was great!  The woman we talked with understood our situation.  She was able to set up a limited savings account for us -- we had cards to use for cash withdrawals, but no debit or credit cards, and no cheques.  We were also able to have Bret's salary paid into that account.   She told us that once we had a UK residence (i.e. a rental agreement) we could open full bank accounts.  Oh, we did have a couple of thousand pounds in cash to open the account with (withdrawn from our US account.)

Next hurdle -- the estate agents didn't even want to talk with us until we had a bank account, as we had to have a bank account to be able to enter a rental agreement.  They were perfectly happy to accept the savings account as a valid bank account.  So, we then found a place to rent.

Once we had our rental agreement we went back to HSBC and opened a full joint bank account, with debit (Switch), cheques, and credit cards in both our names.  Took about two weeks for everything to get totally sorted, and it seemed like a lot of hurdles to get over, but I feel very fortunate that we found a bank officer who understood our situation and was willing to work with us.  Good luck!

Stephanie

Oh, I forgot to add that HSBC also wanted to make copies of our passports and entry clearance stamps, so don't forget to bring that, too.
« Last Edit: January 20, 2003, 02:24:12 PM by stephanielathrop »


Re: Bank accounts
« Reply #5 on: January 20, 2003, 08:26:58 PM »
As Stephanie found, Barclay's were completely unhelpful when Elle tried to get an account with them; they even refused a joint account :(  In the end she had to get an account with Halifax and she only just got it on a technicality; Elle kept her US credit union account in the states.  Halifax weren't specific about a country that they wanted the bank/building society/credit union statement from, which was good enough to get her an account.  After three months, they gave her a card cash card.


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Re: Bank accounts/Temporary housing
« Reply #6 on: January 20, 2003, 10:03:35 PM »
Boy, things sure will be stressful for the first few weeks--but it does sound like even with all the roadblocks in the British banking system, it's doable. It better be. I'm coming!

This opens a new question--I will need tempoarary housing when I arrive. I hope to live in London but am considering Brighton and in fact am open to living anywhere within an hour or so of London by train. I won't be commuting on a daily basis (though I will likely have meetings in London now and then), so I don't REALLY need to live in the city. (Advice on places to consider would be welcomed!)

Are there any Web sites that list temporary housing in London and the surrounding areas? I will have my two old cats along, which will doubtless make things even more dicey, but I am hopeful that something can be worked out. Or would what I save in grief be worth the cost of an extra round-trip if I left the boycats in California while I got the housing and banking set up in the UK and then retrieved them later? Probably would be less stressful on them, come to think of it...

Sorry this is so rambly. This is a great resource and I am very grateful to have it!


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Re: Bank accounts
« Reply #7 on: January 21, 2003, 12:58:46 PM »
We ran into this same situation!  Bret's work was willing to pay for one month temporary house as part of the relocation package, but it was up to us to find it.  They suggested the Holiday Inn that is close to Bret's office, but there was no way I was going to live in a hotel room with a 5 year old boy for a month!  

We looked at lots of things, executive apartments (mostly all in London, an no cheaper than the hotel), short-term lets (mostly 3 months at the shortest, and we only wanted for 4-6 weeks while we looked for a rental house), etc.  Someone on this site (can't remember who, sorry!) suggested doing a web search for "self-catering" and the area we wanted.  We found several places in the area we wanted to be.  The rents were anywhere from 90 to 150 pounds per week, much less than a hotel, and much more comfortable.  Several bedrooms (we needed 2), living space, kitchen, bath, etc.  They are usually geared to people on holiday, so you might try some holiday sites, too.  The house was fully furnished, down to linens and kitchen stuff, so we were able to live relatively normally during the first month.  

Don't have any advice about the cats.  Our dog had to go into quarantine, so it wasn't an issue until we started looking at rental properties.

HTH,

Stephanie
« Last Edit: January 21, 2003, 12:59:53 PM by stephanielathrop »


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Re: Bank accounts
« Reply #8 on: January 21, 2003, 04:38:47 PM »
Stephanie to the rescue again! Thanks so much for the useful tips!

Denise


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Re: Bank accounts
« Reply #9 on: January 21, 2003, 04:47:31 PM »
Quote
Stephanie to the rescue again! Thanks so much for the useful tips!

Denise


:D  You're welcome.  We went through all of this so recently that it's still fresh in my mind!  We had financial support from the company for the relocation, but no help otherwise, so I had to learn a lot quickly and become my own relocation consultant!  I learned quite a lot from this forum and the UKY website -- it's been a lifesaver!

Stephanie


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Re: Bank accounts
« Reply #10 on: January 25, 2003, 08:48:58 AM »
Quote
.....The bank that you're talking about is HSBC (Hong kong singapore bank of commerse I think it stands for.) ....

Technically it doesn't stand for anything any longer, now that Hong Kong was handed back to the Chinese and it moved its headquarters to the UK, and changed its name to "HSBC Plc".  It used to be an acronym for the Hong Kong and Shanghai Banking Corporation.  

HSBC Plc still owns a large bank in Hong Kong called the Hong Kong and Shanghai Bank.
« Last Edit: January 26, 2003, 04:59:09 PM by Mr_Val »
Richard


Re: Bank accounts
« Reply #11 on: January 25, 2003, 10:37:10 AM »
I have worked for 3 different banks since i have been in the UK, and none of them have required proof of employment to open a bank account.
They only want to know:
who you are (passport)
and
where you live (rental agreement or utility bills).  

Utility bills are probably better, as i have seen some banks reject rental agreements... some banks have a policy that if any part of the agreement is hand-written (apart from signature, of course), they wont accept it.  And they wont accept those standard agreements that you can buy in WH Smith/stationery stores.  It has to be a computer printed agreement on company letterhead.

But the proof of employment thing shouldnt be a worry at all.


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Re: Bank accounts
« Reply #12 on: January 26, 2003, 01:44:38 AM »
Quote
I have worked for 3 different banks since i have been in the UK, and none of them have required proof of employment to open a bank account.


This is most reassuring news. I also e-mailed HSBC via their Web site after reading on this board that people had good experiences with them, and I have to say, their e-mail customer service has been MOST impressive. They responded quickly and were very helpful. They said I shouldn't have any problems if I can provide at least the most recent 3 bank statements from my US account and a letter of reference from my bank. As you say, they didn't seem to require any proof of employment.

So all I need to do is get over there and find a flat. Easy peasy!
:D

Thanks again for all the helpful advice. I have already been sleeping better!

Denise


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Re: Bank accounts
« Reply #13 on: January 30, 2003, 04:40:23 PM »
I know I'm getting on the train a little late here, but thought I'd still offer my 2p. David & I went yesterday to  HSBC, where he's had an account forever. He needs to open a 2nd current account anyway for work, and we asked if it could be a joint account with me. The lady was outstandingly helpful. She suggested I call my bank in teh US and have them change my mailing address to my UK address (albeit a temporary one) instead of having ststements mailed to my mom and dad in Indiana. Having my statmenet mailed here will be the proof of address I need, since we don't have a leasing agreement, etc. She said then all I need to bring in is my passport and US drivers licencse to prove that I had a US address previous to my UK one. I was a bit confused about why I needed that, but oh well. I think it's because we're not married yet... and that once we're married I can jsut bring in my marriage certificate. But whatever - we're gonna wait until after the wedding anyway to do this so I don't have to change my name... and it should be easy as pie. :) Hope it goes well for you!
I'm done moving. Unrepatriated back to the UK, here for good!

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