English Bank Account

Forums Living In Crete Your Money, Forex, Banking English Bank Account

Your Money, Forex, Banking

This topic contains 44 replies, has 16 voices, and was last updated by  Gem 2nd August 2012 at 2:19 pm.

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  • #32353

    sapphire260
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        I have recently moved to Crete and opened a bank account here but would like to keep an English bank account and credit card still ‘open’ for trips back to UK etc. Should I tell my English bank and cc company my new Crete address or just give them a change of address to my parents address in UK?

        Many thanks

        Debbie

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        #32829

        Topdriller
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            Your parents – definitely.

            Jon

            #33146

            latsida
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                my bank and card company have my address here, and I receive all my statements and replacement cards here with no problems.
                choose the system that is easiest for you and your parents

                #33372

                Peebee
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                    We kept our bank accounts in the UK and gave them and the credit card company, my sister’s address for correspondence, as we needed to maintain a UK address for currency dealings.
                    We do have a Greek bank account, but keep most of our money in Sterling and just transfer money across when it is needed.
                    You can always close your UK operations down in the future, but I think you would be wise to keep them operating in the meantime.

                    #33550

                    daveellen
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                        Parents – definitely. Topdriller is right.

                        #33689

                        scooby
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                            I have changed my English bank accounts and credit cards to my Crete address and no problems whatsoever. Why, topdriller and daveellen choose to give you the advice of keeping the address in the UK I don’t know as they have not explained? All my statements etc are online (to save paper) and my new cards have arrived no problem.

                            #33804

                            Topdriller
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                                The reason is simple:

                                1.  Most UK banks will not open a new account if you give your address outside the UK.  I know this because I tried it last month i.e. walked into a couple of banks in Aberdeen and asked them.

                                2.  My bank of 35 years (LloydsTSB) was very helpful but told me that if they had an overseas address the credit / bank cards would be automatically sent to the local branch for collection.  My bank address is therefore my sister’s address.

                                3.  Interest rates are pathetic right now and to squeeze every drop out of your hard earned money you may have to move it around i.e. shop for the best rates  / account etc.  This will require you to open new accounts.  I bet 95% of the banks you approach on line will tell you (on their site) that you can’t open a new account with an overseas address.

                                Jon

                                #33891

                                Peebee
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                                    TD
                                    Exactamundo !!!!!!

                                    #33964

                                    stalos
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                                        H.S.B.C WILL allow you to open a internet account using your address here on Crete,and send cards to you..

                                        #34024

                                        latsida
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                                            my partner also has a UK bank account( Lloyds TSB) and as soon as we bought our home here he notified them of the new address and they send all his statements and replacement debit cards here.

                                            Every year he receives a letter to state that their representative will be visiting Greece and that he can make an appointment to discuss his banking requirements.

                                            we both use internet banking and also have our pensions paid into the accounts.

                                            I do not understand the problems, if you have an existing account in the UK and permanent address here just notify them of the details.
                                            I closed one of my UK bank accounts and was worried that I would not be able to keep one of my cards so I contacted them and was assured that it was OK.
                                            obviously if you need to open a new account some banks may not accept an overseas address as Jon found when he tried to do this recently.

                                            #34078

                                            Topdriller
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                                                I have just cancelled an account with HSBC so went onto their website to check their online account opening forms. 

                                                https://www.stpapplications.hsbc.co.uk/1/2/!ut/p/kcxml/04_Sj9SPykssy0xPLMnMz0vM0Y_QjzKLN4o3dDMASYGZFj76kWhixqZoQgbxjgiRIH1vfV-P_NxU_QD9gtzQ0IhyR0UAi6i3kQ!!/delta/base64xml/L0lDU0lKQ1RPN29na21DU1Evb0tvUUFBSVFnakZJQUFRaENFSVFqR0VKemdBIS80SkZpQ28wZWgxaWNvblFWR2hkLXNJZDJFQSEhLzdfMl8zTzYvMS9zYS4!?PC_7_2_3O6_es_iid=ES_FLOWINFO%3a42747.0.43244205245550005&PC_7_2_3O6_cmd_continue=

                                                At the bottom right hand side of the application form it states: "issued for UK use only"

                                                I’ve also attached below an email reply from Santander i.e. I asked them some weeks back if I could open an account with them whilst living on Crete.  The answer was no,  You can of course open an account in Jersey – as they suggested – but then you’re subject to the European Tax Directive.

                                                ——– Original Message ——–
                                                Subject: RE: Symons: Bank Accounts – Santander Account: xxxxxxxxxxxxxxxxxx
                                                Date: Wed, 20 Apr 2011 10:17:02 +0100
                                                From: <CustomerServices@santander.co.uk>
                                                To: <jon@xxxxx.com>
                                                   

                                                Hello Mr Symons

                                                Thank you for your email.

                                                To apply for any Santander account, you must be a UK resident. However, I
                                                suggest you visit http://www.abbeyinternational.com who may be able to offer an
                                                account which suits your requirements.

                                                Regards

                                                Robert Jenkins
                                                Santander Customer Services

                                                Maybe I’m just contacting the wrong UK banks – but then again there are only 4 big ones.

                                                Jon

                                                #34125

                                                umaremasu in Crete
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                                                    I have kept my UK Natwest accounts with Daughter as a third party on the current account to allow her to do our occasional xfers to Eurabank sterling account easily, rather than mess about with phone calls, letters and faxes. (Works out a better rate for us than using the international exchange companies despite the small charge). The bank was quite happy to send statements etc to Greek adress, but as we can check the accounts easily on line, I have all paperwork sent to her, for filing, and periodically bringing across to us.

                                                    I believe though that they would not open an account for us as new customers, not living in UK.

                                                    We have had to retain a UK account as our private pensions can only be paid into UK based accounts.

                                                    We have had minor problems with one of our credit card accounts (with another bank which has our address as UK) as buying online, with a Greek ip address tends to flag possible fraud. Though we have had no problems with companies like Amazon.

                                                    As far as using a credit/debit card for purchases here…well it’s usually a problem with machines not working etc, and businesses prefering cash anyway! I think I have only used cards 3 times in 9 months, and 2 of those were at LIDL, when we had decided to do a "shop" on spur of moment with limited cash.

                                                    Rehards

                                                    Anna

                                                    #34165

                                                    Peebee
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                                                        I think the point that TD and myself are trying to make, is that there is no disadvantage in maintaining your bank account with a UK address, apart from someone having to post on your new card here.
                                                        However, if you change it to your Greek address, you may well wish in the future that you still had it tied to a UK one.

                                                        #34204

                                                        umaremasu in Crete
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                                                            Just a small security point Jon in case you hadn’t realised?

                                                            You have pasted the e-mail above, and it gives your e-mail address and surname and the temporay account number they gave you on application.

                                                            It may not bother you so apologies in advance, but I tend to edit substituting those bits with xxxx.

                                                            Kind regards

                                                            Anna

                                                            (edited cos I mis-typed temporary)

                                                            #34236

                                                            latsida
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                                                                Hi Peebee,
                                                                Why would you wish that you had tied it to a UK address?
                                                                if the reason is lost cards in the post then that can also happen if sent by a relative.
                                                                As I said in my first post choose the system that is easiest for you,
                                                                some people have a sterling account here with a Greek bank and just transfer money across to their euro account when needed.

                                                                #34267

                                                                Topdriller
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                                                                    Thanks Anna, I missed that and have amended accordingly.

                                                                    Jon

                                                                    #34296

                                                                    footscapes
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                                                                        For savings (as opposed to a current account), the only UK bank we’ve found that will accept new business from a Crete address is the Halifax, and then only with their term deposits (6 months to 3 years). Link here http://www.halifax.co.uk/savings/accounts/longer-term/guaranteed-reserve/?pagetabs=1 – see "eligibility". Note that you still have to make the initial application in a UK branch armed to the teeth with proof of identity documents.

                                                                        It’s subject to EUSD regulations, and, as the UK doesn’t apply withholding tax, this means automatic information transfer to the Greek taxman. The upside is that you get a credible government deposit guarantee, probably a bit more reassuring than the Channel Islands/I.O.M. versions. (I believe that depositors in Guernsey subsidiaries of Icelandic banks didn’t receive compensation in full after the collapse).

                                                                        The downside is that Halifax customer service is cr*p – you will spend a lot of time on the telephone and learn many new ways to curse a bank.

                                                                        Paul

                                                                        #34322

                                                                        Peebee
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                                                                            Latsida
                                                                            No it’s nothing to do with cards getting lost in the post, I don’t use or need them here anyway – I use ones from my Greek account.
                                                                            There are a number of reasons to have a UK address.
                                                                            It is almost impossible to get a online savings account with a UK company without one.
                                                                            Any new account with a currency trader will need a UK address.
                                                                            Some online sellers will not post to Greece, and require a UK registered card.
                                                                            I am just trying to get the point across that as I said earlier, there is no disadvantage in maintaining your bank account with a UK address, but there are benefits.
                                                                            It is all down to the individual’s preference, I’m just trying to be helpful by pointing out the pros and cons.

                                                                            #34345

                                                                            latsida
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                                                                                thanks for the clarification Peebee, yes this the reason I keep my UK credit cards, but most companies will also accept debit cards, if not I get my daughter to order goods get them sent to my address here and then electronically transfer the funds to her at no cost to me.
                                                                                As my bank says "there is a better way" 8-)

                                                                                #34366

                                                                                scooby
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                                                                                    I went to the UK this year and opened an account at the Halifax, Hsbc and Barclays. No problems at all. Took my passport and a utility bill from here. I think i took something else with me but can’t remember now but they tell you over the phone what to bring in. The only thing you can’t do obviously is open an ISA.

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