Monday, 23 April 2012

A bank account in the UK

After reading of Paul's problems with trying to open a bank account (click here), I made it my mission today to find a way for us to open an account before we go.

I spent an awful long time on the phone but finally have a resolution.  HSBC will open an account for us now.  We'll have an account in Australia with HSBC and an account in the UK with HSBC.  There is an initial fee of $200 for them to process the application but no ongoing account keeping fees.

The UK account comes with a Visa debit card and a cheque book if you want, but there is a minimum monthly deposit requirement of £500.  If you don't maintain the minimum deposits the account could be downgraded to a basic account which it seems doesn't have the cheque book facility and the card provided is a basic ATM card. 

We will wait until our house is sold before we open the account, but at least we know it will work out.

5 comments:

Paul and Elaine said...

Hi Guys
When we get to a larger town I am going to go into a bank and jump up and down a bit, I am pretty sure with a one on one chat they will give me one. I was speaking to another bank the other day and they said bring in my Aussie bank statements and passport etc they would consider opening an account. I will let you know how we go.

Paul

Elly and Mick said...

Paul, HSBC have an account called a "Passport" account or something like that. There is a £8 per month fee but it's what Ray (nb Gypsy Rover/Ferndale) opened when he first got there. After 6 months you can then apply for a conventional account. Good luck!
Elly

lesley said...

I looked at HSBC as well (same plan) we were told to open an account here and when we were ready to relocate they would transfer the account to there Oxford St branch. They did ask for $6000 to open it with, which I handed over. Opening an account with a bank in the UK is a nightmare. Happy to chat if you want more info. Lived in the UK in the past, hoping to buy our boat next year. Lesley (Ringwood Vic)

Elly and Mick said...

Hi Lesley,
Did they not offer you to actually open an account in the UK now? That's what our plan is. They'll send the Visa card and pin to us here in Australia but the account will be in GBP and held in the UK. We wanted to exchange the funds as soon as we sell our house. Would love to discuss further. Leave another comment with your contact details and I won't publish it.
Great to hear from another narrowboat planner!
Elly

Lesley said...
This comment has been removed by a blog administrator.