Libby Posted March 29, 2017 Share Posted March 29, 2017 Well I've left most of my savings in my old UK bank account (Smile online banking) as I was waiting for the exchange rate to recover. Well today I've heard that it is allegedly uncertain that Co Op bank will find a buyer and likely be wound down n I don't want to lose my savings so need to get it over here pronto. Is there an alternative? I would like to do what UK residents can and open a new bank account back home, transfer my savings into them and wait for the exchange rate to recover but I can't as I'm now a permanent resident of Australia. Do I just take it on the chin and transfer the lost over here at the worst exchange rates for decades? Also, is your £ safe if you were to add it to your Moneycorp account but leave it there until the exchange rate hit a Target of say $1.80??? Not sure how long that will take though. I can't believe this is happening. We've had such a struggle to get here, being here n now this. Thanks anyone. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted March 30, 2017 Share Posted March 30, 2017 https://www.santanderinternational.co.uk/banking/expat-international-customers Maybe Santander International in Jersey is an option? Best regards. Quote Link to comment Share on other sites More sharing options...
Libby Posted April 3, 2017 Author Share Posted April 3, 2017 Thanks. I'm looking into this vs just bringing the money over now. Can't believe this is happening when the exchange rate is the worst in decades. Quote Link to comment Share on other sites More sharing options...
Collie Posted April 14, 2017 Share Posted April 14, 2017 Why can't you just open a UK account with a different provider (Lloyds, Barclays etc) and transfer the GBP there until you want to transfer it over? You are still a UK citizen. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted April 14, 2017 Share Posted April 14, 2017 Is very difficult to open a bank account in the UK these days when you do not have a residential address there. Best regards. 1 Quote Link to comment Share on other sites More sharing options...
doubter Posted April 14, 2017 Share Posted April 14, 2017 If I remember correctly as well as a residential address you need to produce ID in person at the bank as well. When I left UK I kept my UK bank account with my parents forwarding address. I wouldn't worry too much about the Co Op bank not finding a buyer there will be some alternative at some point. I have a current account and a mortgage with them. I am sure they are not going to right the mortgage off ? 2 Quote Link to comment Share on other sites More sharing options...
amibovered Posted April 14, 2017 Share Posted April 14, 2017 5 minutes ago, Alan Collett said: Is very difficult to open a bank account in the UK these days when you do not have a residential address there. Best regards. It's not all that easy even when you have a residential address, the co-op for instance wouldn't let us open a basic account because we had not been resident for six months at the time! 1 Quote Link to comment Share on other sites More sharing options...
Libby Posted April 18, 2017 Author Share Posted April 18, 2017 Thanks for the replies. I'm keeping an eye on the UK news re the bank. I should've moved to First Direct before we left for Oz in 2013! I was thinking about it but didn't n once we arrived here, the Co Op bank started to have problems. Oh well, we'll see how it goes. Exchange rate sucks anyway so hopefully my bank account will survive long enough so see the GBP gain some momentum.. Quote Link to comment Share on other sites More sharing options...
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