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moving abroad and bank accounts

SystemSystem Posts: 8,619 Staff Moderation Team
if you move abroad, how do you go about banking?

i have a few credit cards and a loan that i pay off each month by standing order/direct debit. i'd want to carry on paying these whilst im away obviously but if im moving abroad and don't have an english address, surely my accounts would be closed and any debt would be transferred?

argh, i dont know! advice plz!

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    no your accounts aren't closed and the debts aren't transfered, and it's a good idea to open an account with a english equivilant, such as barcleys and santander- abbey over here- in spain

    you can pay them off whilst still being abroad, but it might be more expencive to do so, so i suggest that you pay them off by cheque or someother way that you don't get charged for doing international transactions...
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    IIRC, my dad had a british bank account while he was living in Africa. He only used while he was here and it always ended up with him having to speak to the bank in shops (and usually petrol stations) because they thought he was a fraudster...
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Just make sure you notify your bank of your new overseas address, it doesn't matter you're not living in England, you can still keep everything. The bank I work for offers free transfers from your British account (and vice versa) if you open a foreign equivalent with them, so would imagine this is the case with other major banks.

    I would recommend getting yourself set up for security with telephone banking and internet (if applicable) before you go abroad. Make sure you notify the bank at least 24 hours before if you are wanting to use your cards in a different country to where you will be living.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    thanks guys :)
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    How long are you going away for? If your cards are registered to your parents address you could just leave them as they are and carry on paying them off using internet banking. Otherwise, notify them of your new address.

    If you're going to be away for a few months it may be worth opening a bank account in the country that you'll be living in - it saves you being charged through the nose and/or losing out due to the way the calculate the exchange rate when you use your UK bank card. Although saying that, Nationwide is the best card to use abroad in the meantime, as they don't charge you extra for using it abroad.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    if i move, it will probably be on a permanant basis providing im granted a permanant visa.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Find out which banks are global entities, ie HSBC, should make things easier.
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