Jump to content

You're currently viewing the forum as a Guest
register-now-button_orig.png
and join in with discussions   
ask migration questions
message other members

..and much much more!

JoRed4

Should we close our UK bank accounts?

Recommended Posts

We're making the move to Adelaide later this year; what do people do regarding their UK bank accounts? Do we close everything or do we keep one open so we have a credit card should we need to make some bigger purchases etc. Do we inform our bank that we're immigrating? Silly questions perhaps.. Any help will be appreciated.


26th August 2010 Passed AQF III. 28th Nov 2011 TRA Passed. 10th Jan 2011 Submitted SA SS app. 22nd March 2011 SA SS granted. 26th March 2011 176 eVisa submitted. CO assigned 3rd May 2011.

Share this post


Link to post
Share on other sites

We closed all our UK accounts as we knew we wouldn't need them again (no uk bills to pay). Opened an account here with WestPac before we left and activated it when we arrived (they had cheque books and cards waiting),


I just want PIO to be a happy place where people are nice to each other and unicorns poop rainbows

Share this post


Link to post
Share on other sites
We closed all our UK accounts as we knew we wouldn't need them again (no uk bills to pay). Opened an account here with WestPac before we left and activated it when we arrived (they had cheque books and cards waiting),

 

Thank you for your quick response. Do you mind me asking; were credit cards offered?


26th August 2010 Passed AQF III. 28th Nov 2011 TRA Passed. 10th Jan 2011 Submitted SA SS app. 22nd March 2011 SA SS granted. 26th March 2011 176 eVisa submitted. CO assigned 3rd May 2011.

Share this post


Link to post
Share on other sites

I'm going to keep mine open (and at least one UK credit card) to begin with. Only once I'm sure it's of no further use will I close it (it's almost impossible to open a UK bank account if you find you need one in future and you haven't already got a UK account and a utility bill).


Chartered Accountant (England & Wales); Registered Tax Agent & Fellow of The Tax Institute (Australia)

Share this post


Link to post
Share on other sites
Guest

We are keeping one open to be able to send money to a few things in the UK when we need to. Doesn't cost anything to keep it open. Also when we come back for trips to the UK we'll have a UK account and can simply use that rather than CC's or some such.

Share this post


Link to post
Share on other sites
I'm going to keep mine open (and at least one UK credit card) to begin with. Only once I'm sure it's of no further use will I close it (it's almost impossible to open a UK bank account if you find you need one in future and you haven't already got a UK account and a utility bill).

 

We have left one open with £1500 in it and a credit card connected to it as we will be going back for a visit at some point. Before we came out we opened an account with NAB. On arrival we went into the city and signed a few documents and collected our cards.

Share this post


Link to post
Share on other sites

I personally think that its quite handy to have an account open in UK with a little cash in it just in case!

 

:wink:


Lang may yer lum reek!

Share this post


Link to post
Share on other sites
Guest

You can request online statements for UK banking and also give them your Aus addy and they will send any other communication that way. They don't have to know how long you will be gone etc, and so long as you are in the black your account should be fine.

 

My husband was in the UK about 4 years before he finally closed his Aus account down the last time we went back for a holiday. He'd not used it in a long time by this point however and knows we can open one up when we move back, far more easily than you can when returning to the UK.

Share this post


Link to post
Share on other sites
Do we inform our bank that we're immigrating?

 

Sorry missed this part of your question before. The answer is you need to if you get interest on your account. When you go you give them a form to pay your interest gross (since you'll no longer be paying tax in the UK). You'll also want to keep them up to date with your address.


Chartered Accountant (England & Wales); Registered Tax Agent & Fellow of The Tax Institute (Australia)

Share this post


Link to post
Share on other sites

wish we had kept ours open, you never know if you will need it, or you may return at a later date(no-one knows whats round the corner)

Its hard to open an account if you have been away from the UK for any length of time

We initally gave our UK bank our new address in OZ , and they were great sending statements and even "junk mail'lol

Then we deceided to close it,but in hindsight should of kept it open just in case

Share this post


Link to post
Share on other sites

I've kept mine so that I can use UK cc to buy presents online for family in the UK, and we can transfer money to each other easily. The money that's in that account gets used to buy UK presents, and when we're travelling since my UK cc has very low fees for use abroad compared to the Aus travelcards.

Share this post


Link to post
Share on other sites

We use ours to buy lots of things from the Uk off the internet. Some Australian banks charge you a fee if you buy something from a foreign website (ANZ does). It is easier to transfer money as presents. Definitley keep the UK bank account open. I did have a lot of trouble getting an Aussie credit card despite being on very good money and walking into a job after only being here 2 weeks.

Share this post


Link to post
Share on other sites

Kept mine open for over 30 years and am glad that I did. I always used it when I came home for holidays and now I am living in UK again it has saved a whole load of hassle and having to start over.

Share this post


Link to post
Share on other sites

We kept ours open when we left the UK 10 years ago. It does not cost anything to do so and they send the statements to us here in Australia.

 

We have found it useful for family to put money into if they want to send us money for any reason - cheaper than sending it overseas.....and it means that there is always money in the account when we go to the UK and we can use our UK cards rather than Aussie ones.

 

Love

 

Rudi

x


 

 

Share this post


Link to post
Share on other sites

We Kept ours but changed the mailing address to a family member, We have a house still in the UK so it helps for the Rent money to get paid to us and any maintenance bills.

It also is a good idea in case you ever go back you still have a good credit line in the UK and if you decide to move back you keep all your original banking details.

Im with the Halifax and there really helpfull.


Arrived 10th Feb 2010 ! What a Shock :biggrin:

Share this post


Link to post
Share on other sites

If you stay in Australia long enough you might need a UK account for pensions to be paid into? Actually, I'm not sure how a UK old age pension is paid to retirees living overseas? I need my UK bank account for my rental income from my home in England and I use my UK debit Visa card to pay for stuff here - Coles, two meals in the Clovelly Hotel, a hair cut, petrol, etc.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×