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Opening Bank Account in UK

  • 24-09-2017 5:33pm
    #1
    crimon222
    Registered Users, Registered Users 2 Posts: 20 ✭


    Has anyone been through the process of opening a bank account in the UK? I currently bank with HSBC Canada and will be moving to Ireland for a few years to work. Unfortunately, HSBC does not have any retail operations in Ireland. They do have locations in Northern Ireland and I was hoping to put my savings there for ease of keeping all my global accounts with one institution and have the benefit of my transferring my credit history. 
    I've done some research but there wasn't much information I could find and HSBC is taking awhile to respond to my inquiries. Any experience (with any bank) or advice would be greatly appreciated.


Comments

  • #2
    Yggr of Asgard
    Registered Users, Registered Users 2 Posts: 5,259 ✭✭✭Yggr of Asgard


    You are aware that using a bank in NI will be in £ and not in €?

    Anyhow, HBSC has processes that make it easier for you to open an account with HSBC UK directly from Canada. You need to contact your local International Banking Centre in your country. The advantage is less paperwork and your credit history moves with you as you pointed out.

    Otherwise once you are in Ireland you can (as long as the UK is still in the EU) open a non resident account with several different UK banks by either online methods (fintech banks like monese etc.) or via postal mail (Ulster for example) or a short visit with paperwork (Nationwide for example).

    While you are not in the EU it is going to be harder due to the money laundry regulations and the need to identify you. Using HSBC is going to make it so much easier to give you a starting point.

    But if you go the UK route remember you have the currency risk from CAN $ to UK £ to € etc. So if you move back to Canada you might be better off keeping your savings there. But that will come down to your own circumstances.


  • #3
    noel100
    Registered Users, Registered Users 2 Posts: 358 ✭✭noel100


    Try the revolut app
    Has multiple iban and uk acc numbers for transferring funds once verified


  • #4
    Yggr of Asgard
    Registered Users, Registered Users 2 Posts: 5,259 ✭✭✭Yggr of Asgard


    As much as I like the Revolut App it's not a bank and your money is not guaranteed so it's not really a good place for savings that the OP wants to do.

    Great as an early start to get an account and do some cheap currency transfer but not to park savings.


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