UK Bank Accounts

[Ekka]

I live in Canada and wanted a UK bank account so that the UK Dept of Work and Pensions could deposit my UK pension in GBP rather than converting it to C$ at an unfavourable rate, and so that I could easily send money to relatives or companies in the UK. While visiting the UK I tried to open an account at Lloyds Bank etc. and was refused, however by using a relative's valid local address the same as the one on my old UK DL, I got a "Basic Bank Account" from HSBC, with no fees. Met my needs better than a HSBC account for high net worth folks that would have cost a lot. After returning home I changed the address to Canada without a problem. To move GBP to other currencies I found Forex to work well for me. I now have no-fee bank accounts in Canada, US and the UK. It would be nice to have an Australian account, e.g. for use on visits. I have a TFN and my brother is Australian, but that's as far as it goes. Any ideas on if I can get an Australian bank account? The regulations that are in place to stop money laundering and comply with the US IRS rules create real problems for middle class folks with roots in more than one country.

 

[Flashback]

Revolut is a good option, I don't recall it ever asking me for proof of address but just ID in the form of a passport etc.

Starling is another one to look at, although again can't remember the address requirements.

 

[Jack_OC]

Revolut is a good option, I don't recall it ever asking me for proof of address but just ID in the form of a passport etc.

Starling is another one to look at, although again can't remember the address requirements.

You don't need a UK address to open a Revolut account from Australia, as it's an Australian-based account (even though you can hold GBP and various other currencies in it).

However, if you open a Revolut account in Australia, and you want to transfer money directly to a UK bank account (or receive money directly from a UK bank account), it requires an international SWIFT transfer, which will involve fees and likely unfavourable exchange rates.

This is the same as the HSBC Global Everyday account (which I hold). The advantage of this account is that it allows me to convert AUD into other currencies at favourable rates and spend/withdraw in other currencies without fees. However, when it comes to transferring money to (or receiving money from) an account overseas, it's not really any different to a normal Aussie account.

Revolut offers a way around this - but only if both parties to the transaction are using Revolut and if you are not transferring more than AU$9,000 per month - if those criteria are met, there are no account keeping fees, the transfers are free and the exchange rate is as good as you can get. Still not quite the same as having an overseas account though.

 

[hossein_au]

I wonder if people have had experience in Citibank Global account in the following scenario:

I have a few Citibank Global accounts in USD, EUR, etc. I recently called Citibank and got the routing number of the USD account (analogous to the BSB number here). I have managed to use these details to add the Global account to one of my US credit card accounts. I will be using Chase online banking to pay off my Chase credit card by directly debiting the USD Global account.

My question is, can I use the same routing and account numbers to 'receive' funds into the Global account? If so, any insight on fees, charges, etc?

 

[plspoon]

I opened a bank account in the UK in 2013 after I received an inheritance but wanted to keep some of the money over there. I tried a couple of different banks and they were not interested, until my cousin took me into his branch and sweet talked the Manager there. She agreed to open an account in my name using my cousin's address and I was able to change the address to my Australian address a while later. The only account(s) she could open for me was a bog-standard "savings account" which pays a pitiful amount of interest and a current account which doesn't have any ongoing fees. I have a debit card. I think you will have problems to be honest unless you go with one of the options mentioned by others above or can actually walk into a branch over there with a relative who banks there. For transfers of money from UK to Australia I used HiFx which is now XE.

 

[CMA222]

I have received an email this morning from Transferwise offering a new service to be able to pay bills by direct debit "in Australia". There is no fee for a payment and and no fee for a bounced payment. It also says:

If you have bills to pay in the UK or Eurozone, you can set up Direct Debits from your GBP or EUR balances too.​

So it looks like they are expanding their services while offering very reasonable exchange rates. The ability to purchase FX currency instantly by paying with PayID is also an advantage.

 

[hossein_au]

I have received an email this morning from Transferwise offering a new service to be able to pay bills by direct debit "in Australia". There is no fee for a payment and and no fee for a bounced payment.

I cannot find any relevant information on their web site. Would you happen to have any link?

 

[Igreen]

I cannot find any relevant information on their web site. Would you happen to have any link?

https://transferwise.com/help/node/1392

"When you set up a Direct Debit, you give a company permission to take regular payments from your account. You might use Direct Debits to pay for a monthly subscription like the gym, or to pay your phone or energy bill."

 

[hossein_au]

https://transferwise.com/help/node/1392

"When you set up a Direct Debit, you give a company permission to take regular payments from your account. You might use Direct Debits to pay for a monthly subscription like the gym, or to pay your phone or energy bill."

Thanks, but I read it wrong... I read it too quickly and I thought one could use Transferwire to deposit funds into one's bank account. My bad.

 

[Mr_Orange]

HSBC might be an option. One of the advertised HSBC Premier benefits is "Fee-free International account opening and HSBC credit history transfer available in over 35 countries for Premier customers." However, I don't know if this is aimed at customers who are moving overseas, as opposed to Australian resident customers who just want to open an account overseas. Also, HSBC Premier is only available if you meet certain criteria, for example having a home loan with them over a certain amount.

HSBC Premier is definitely an option, assuming you qualify for Premier in Australia. I've done it. I am a British citizen but I don't think that mattered. They are more interested in the reason for opening the account.

 

[VPS]

HSBC Premier is definitely an option, assuming you qualify for Premier in Australia. I've done it. I am a British citizen but I don't think that mattered. They are more interested in the reason for opening the account.

HSBC wouldn't open one for me because I wasn't eligible for an account in the UK

 

[blacksultan]

HSBC Premier is definitely an option, assuming you qualify for Premier in Australia. I've done it. I am a British citizen but I don't think that mattered. They are more interested in the reason for opening the account.

From what was mentioned to me by hsbc premiere recently they can open the account for you even if you are not Premiere but will charge you $250 -300 .

Post automatically merged: Aug 19, 2020

HSBC wouldn't open one for me because I wasn't eligible for an account in the UK

Not eligible ? Meaning. ? If they ask for a reason say it’s for investments , buying property etc

 

[VPS]

From what was mentioned to me by hsbc premiere recently they can open the account for you even if you are not Premiere but will charge you $250 -300 .

Post automatically merged: Aug 19, 2020

Not eligible ? Meaning. ? If they ask for a reason say it’s for investments , buying property etc

I said it was because I was going to be living over there but only on as a tourist and didn't have a residency visa so no way. I did get around it by getting a friend to put the electricity bill in my name and then I was able to open an account with Barclays

 

[Ekka]

I opened a USBC account in Salisbury UK, which I still have, at the local Australian USBC branch several years ago.
You do not have to be a Premier type at all, just pay a hundred dollars. Perhaps the price has increased, but it's there for ever more.
There is so much misinformation on this website.

 

[Mr_Orange]

I opened a USBC account in Salisbury UK, which I still have, at the local Australian USBC branch several years ago.
You do not have to be a Premier type at all, just pay a hundred dollars. Perhaps the price has increased, but it's there for ever more.
There is so much misinformation on this website.

I don't think anyone said you HAVE to be Premier with HSBC but, if you are, then the fees are waived and you get a Premier account in the overseas location.

 

[blacksultan]

I don't think anyone said you HAVE to be Premier with HSBC but, if you are, then the fees are waived and you get a Premier account in the overseas location.

Exactly !

 

[Ekka]

All I was mentioning, Mr Orange, is that one does not have to be what HSBC terms a Premier Account holder; at least at the time I successfully opened my UK HSBC account, which was six years ago.

Things change, as we know; e.g. I would be unable to open my Bank of Ireland account so easly as i was able in 1992. I still have that, too.

Perhaps I had to pay $100, six years ago there was no other way, at the time to open my UK HSBC account, but my point was that I did not have to become a Premier type, and at the time this was the only way I could find to open a UK bank account without being there.

Not a cent, or a P since, so I consider ithe cost reasonable.

 

[blacksultan]

Since revolut seems to have changed their mode of transfers of A$ to Australian bank accounts , does anyone know if one transfers A$ from revolut to Citibank global account , will they be charged an incoming SWIFT transfer fee ?

 

[coolstepslg]

you can open up many neo bank accounts online /app now without proof of address if you have EU ID and get sign up referral bonuses too. i made about 200 pounds by opening up monzo, curve, bunq, monese transferwise ,revolut etc while i was on holiday there last year. i gave them my Aust mobile number but you need to give them a EU address initially to get the card posted out first then you can change it. revolut and transfer wise may be ok now to put down an Australian address. pm if you need a referral bonus. high street banks will refuse to open an account without uk proof of address its easy enough to get around by exchanging your Australian drivers license over to a UK one.

 

[blacksultan]

Has anyone availed of the discount home loan package fee as an hsbc premiere customer ? Wua are the discount details ?