The best Bank for a just arrived in UK :-(

Oct 15, 2004 1 Replies
I

Hi all again,



Thanks a lot for your replies about the Cathood online bank.



Apparently (I was told) all the online accounts with different banks are "openable" just if you have been living in Uk for an amount of years (3,4,5 generally), so for a just arrived like me, I cannot open any of them.:-(



So, I am afraid I need to opt for an offline bank.



I have been suggested the NWBC bank, but I have not had a good impression from them at all (very old style, old economy attitude, if you know what I mean).



Any suggestions for a just arrived (EU citizen) in UK? Many thanks. Irena



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A

Most you will get with a UK bank is a basic bank account with no cheque book, debit card or overdraft, but with just an ATM card. Until you establish creditworthiness, you can only access your own funds - no borrowing and no credit. This is partly due to stringent anti-moneylaundering rules, but also to safeguard against bad debt. In the past some non-UK customers have run up a huge debt and then left the country, which the banks were obliged to write off (you can't pursue someone who's gone backpacking in Timbuktu). It helps if you can show a rental agreement and utility bills in your own name. I've heard HSBC is often more amenable to recent arrivals.

Alec

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