UK Bank account

Posted by babarossa (259 days ago)

What is the position with personal current accounts when you change from being a UK resident to non-resident?

Should the bank be advised, even if the family home is still in use by the family and communications (snailmail) is still sent to that address?

If a change is required - what is it and what are the implications?

Thanks.

(I am based in Shanghai)

Posted by happychick (258 days ago)

I'm originally from the UK and have been in HK for about 7 years now, have no property in the UK and all my UK bank accounts have been changed to my HK address. Changing my address to an overseas one was not a problem and I regularly check my account online as well as receiving bank statements in the post.

I don't think there are any implications if you don't inform them that you are no longer in the country but there's no harm in asking them.

(I am based in Hong Kong)

Posted by sk76 (257 days ago)

I've only recently moved to Hk and all my Uk current accounts still show my UK address for posted statements etc.
I actually informed one of my high street branches about the move and they said I did not have to change the details if I did not wish to do so, especially if I was unsure whether the move would be permanent. I simply have a longterm redirection in place for all my snailmail:)

(I am based in Hong Kong)

Posted by babarossa (257 days ago)

Thank you for your experience. I was concerned that I might find myself 'expelled' from the UK account and facing problems trying to manage UK payments from overseas!

(I am based in Shanghai)

Posted by foxy (254 days ago)

actually, it would be in your interest to inform them that you no longer live in the UK, because you won't have to pay any taxes on your savings as a non resident.

(I am based in Hong Kong)

Posted by pebbles1 (253 days ago)

correct 'foxy' & it doesn't mean you would have to shut your account down. I still maintain my UK bank accounts & have lived in HK for a few years now, no problem. With internet banking everything is so easy.
If you check out the UK's Inland Revenue website you can download the relevant form or ask your bank for it.

(I am based in Hong Kong)

Posted by babarossa (251 days ago)

Thanks everyone. I am reassured - have been in contact with bank and will complete tax related forms for HM tax authorities!

(I am based in Shanghai)