Banking, banking, banking!

Hello,

Need thoughts/suggestions on HOPEFULLY opening a US/UK or strictly UK bank account while still in the US.

Ideally, I would be able to move assets from all my US bank accounts into a UK bank account BEFORE I leave the US in two weeks.

Can this be accomplished? At which bank(s)?

Any other tips/suggestions?

Thank you!

You won't be able to open a UK account until you're here. One of the banks does offer a joint type of account but I don't know much about it.

It's a good idea to keep at least one bank account and credit card in the US. It's useful when you buy something in dollars and for when you visit.

Also some people prefer to just drip feed their money to the UK so that they avoid having to file FBAR.

Yeah, because there's just not enough paperwork involved!

You won't be able to open a UK account until you're here. One of the banks does offer a joint type of account but I don't know much about it.

It's a good idea to keep at least one bank account and credit card in the US. It's useful when you buy something in dollars and for when you visit.

Also some people prefer to just drip feed their money to the UK so that they avoid having to file FBAR.

We opened an account in the US with HSBC and they in turn gave us an account here (in Scotland) It was a great deal of work, and they have odd ways of doing things here (like using a dongle for bill paying)


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HSBC does have an easy way to link your US/UK accounts.


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We also used HSBC as did our son last year. If you have a smart phone they have an app instead of the dongle. Once a payee is set up you don’t need the app extra security for future payments, and can even pay using the app.

@barbjones56 Does this mean I can open a US account on HSBC's website & then easily open a UK account as well??

HSBC does have an easy way to link your US/UK accounts.


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@barbjones56 Does this mean I can open a US account on HSBC's website & then easily open a UK account as well??

We had to go into the only branch in Philadelphia to do it. I feel pretty certain that we’d have done it online if it were possible as we had SO many other things to do. But you can call them, things may


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Have changed!


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Last year our son opened an HSBC USA account online and when he tried to open one in the UK he was told that he would have to go to a branch to show  id and to sign the final paperwork. As there was no branch in the Houston area he decided to wait until he got to England.

I don't know why I didn't see this thread when I searched. I just set up an account with HSBC in the US, they said I can set up a UK account from the US through their corporate office. You can call this number and see what your options are: https://www.us.hsbc.com/international-banking/ [nofollow]

It sounds like the best accounts involve keeping a large amount of money in the account or having a regular large direct deposit started. The other accounts have monthly fees

How much do you pay for your US HSBC account? In 2012 they wanted $20 a month and transferring money with them wasn't as good of a deal as it was with XE and transferwise.

If you can open a premier account HSBC is free. We rolled the 401k’s from our last jobs into a 401k at HSBC (which is doing well) and that qualified us for the account. Nothing about it was easy. When we got to Glasgow we then had to go in and settle our UK account.

I have the app on both my I phone and I pad and I still have to use the dongle to pay bills


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If you can open a premier account HSBC is free. We rolled the 401k’s from our last jobs into a 401k at HSBC (which is doing well) and that qualified us for the account. Nothing about it was easy. When we got to Glasgow we then had to go in and settle our UK account.

I have the app on both my I phone and I pad and I still have to use the dongle to pay bills


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I did similar for an advance account (don't have enough for Premier). I was hoping to bank with them in the UK but the branch was anything but helpful. That's why I suggested getting the account set up by their international team, it costs money but saves so much hassle! I ended up at Barclays for my UK account eventually because they accepted my bank statements as proof of address and have a free app to send to the states, and then transferwise to send from the HSBC account to myself.