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Closing UK bank accounts

Discussion in 'Teaching abroad' started by gulfgolf, Sep 21, 2020.

  1. gulfgolf

    gulfgolf Established commenter

    Anyone up to speed or expecting to see their UK bank account closed in the coming weeks? Seems quite an issue for those living in the EU.
     
  2. Rott Weiler

    Rott Weiler Star commenter Forum guide

  3. motorhomer

    motorhomer New commenter

  4. february31st

    february31st Established commenter

    Just pretend to be a Russian Oligarchs washing some money for the President and you will be fine.
     
  5. the hippo

    the hippo Lead commenter Community helper

    In Qatar, I used to bank with HSBC, but not any longer.

    Last year my bank told me that they would not be closing my UK current account. I recently received a scan (not a SCAM) for my account, so it looks as though everything is okay.
     
  6. february31st

    february31st Established commenter

    I would always keep a UK bank account and credit card active when working abroad. It is virtually impossible to open when you are out the country. The home address on my bank/credit card statement is useful as a proof of address as the utilities bill are in another name.

    Hiring a car in the UK has become the most bureaucratic in the world!
     
    frogusmaximus likes this.
  7. Mainwaring

    Mainwaring Lead commenter

    My UK credit card provider informed me some weeks back that my account would be closed in October if I couldn't provide a UK address. As an experiment I used my brother's address and it appears to have been accepted. One of the frustrations of having a UK card with a Spanish home address has been that whilst I have had no problem purchasing goods and services from all over the world the card was frequently declined when I attempted to donate to charity. Perhaps the change of address will solve that problem. I have a UK onshore current account with the same bank that provides the credit card and so far they haven't suggested that my account will be closed.
     
  8. T0nyGT

    T0nyGT Lead commenter

    It's the Daily Mail. I wouldn't worry about it
     
  9. frogusmaximus

    frogusmaximus Occasional commenter

    Very much this.

    When i sold my uk home, had by banking address switched to my parents. Still have uk credit n debit cards, have payments going in and out each month and when asked say i work overseas contracts though in reality i've left the UK.
     
  10. lottee1000

    lottee1000 Occasional commenter

    They are definitely closing them, it's not just a daily mail thing.
    However, if the bank doesn't know for sure you're abroad, as others have said, they won't close. It's another example of how doing the supposedly wrong thing works out better (see also- studying registered at a GP).
     
  11. motorhomer

    motorhomer New commenter

    Cough. Student loans. Cough.
     
  12. lottee1000

    lottee1000 Occasional commenter

    I cant imagine what you mean! ;)@motorhomer
     
    motorhomer likes this.
  13. amysdad

    amysdad Established commenter

    @Feb31, the last time I hired a car in the UK, I turned up at the desk where they asked for all sorts of things I didn't have - when I pointed out that they didn't ask for all those things for people who lived outside the UK, only for people in it, they eventually let me hire the car after I showed them the delivery address on my Amazon account matched the address on my licence!
     
  14. nemo.

    nemo. Occasional commenter

    Why would you need you hire a car with UK address? Your UK licence is no longer legally valid and you in a bad accident a sharp eyed insurance company will not payout. Deep in the terms and conditions the hire insurance normally says you need a valid licence from country of residence.

    Unless you are still resident due to the new tax definition of resident and get taxed in UK on foreign earnings that is - some teachers will get caught out with that. That would be expensive.
     
  15. nemo.

    nemo. Occasional commenter

    Although I agree in the past keeping UK accounts and credit cards was a good idea, new tax residency tests means maybe not now. Owning property (BTL), regular trips to UK and UK bank accounts could trigger a massive tax demand on your foreign income. The old 90 day rule is gone btw.
     
  16. motorhomer

    motorhomer New commenter

    This has me worried. Why is the license invalid? Because the address is incorrect or because the holder no longer has residential status? Where did you find this information? I tried a quick search & only found DVLA's twitter page where they said that it isn't necessary to change your address when moving abroad:

    https://twitter.com/dvlagovuk/status/952946401696198656
     
  17. phoenix-xx

    phoenix-xx New commenter

    Having or not having an open UK bank account is not one of the tests as to whether one qualifies as resident for UK tax purposes.
     
  18. Stiltskin

    Stiltskin Star commenter

    Your licence should show the address you are resident in. It is illegal for a driver to be incorrectly registered at an address, which would make any insurance invalid. The requirement is to ensure emergency services have up-to-date residential information should the licence-holder be involved in an accident. You can not use an overseas address. as you have to be resident in the UK.

    In the twitter feed the person is still a resident of the UK, which means he is liable to pay tax on any money he earns overseas.

    https://www.gov.uk/change-address-driving-licence
    https://www.gov.uk/tax-foreign-income/residence
     
  19. Rott Weiler

    Rott Weiler Star commenter Forum guide

    I do not believe that is correct. An out of date address is an offence but it doesn't in itself invalidate the licence so it wouldn't affect your insurance. Not telling your insurer you no longer live in the UK probably would though.
     
  20. phoenix-xx

    phoenix-xx New commenter

    The first link says:
    "If you’re moving abroad

    You cannot register your new address on your British driving licence. Contact the driving licence authority in your new country of residence."

    It doesn't say that you are required to cancel your British driving licence or take any other action.

    Holding or not holding a valid UK driving licence is not one of the tests as to whether one qualifies as resident for UK tax purposes.
     

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