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UK bank Account Moving To Cyprus

Filmcritic

Making plans for future retirement, been searching online and reading different answers as to which UK banks allow you to reside abroad. Just looking for a standard A/C for my pensions to be paid into which i would then transfer to cyprus via my wise account. Any suggestions? TIA

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Banking and finance in CyprusPrudential pension in UKBanking EnquiryAdvice needed on bank requestPink Slip and Money
Peter Ty

I have a Nationwide FlexDirect current account and Nationwide have confirmed that they  would let me keep it if/when I move to Cyprus.

Filmcritic

Thanks Peter, thats good to know as I’ve had a current account with them all my working life. Hopefully there will be some more suggestions later.

Neptune3

Can't you just use an address of a relative in the UK for your bank post, as banking is online?

Why complicate matters by saying you are going overseas? Or have I missed something?

Peter Ty

People can, and do, do this but technically it is illegal!

If you become resident, and particularly if you become tax-resident, in another country, you *should* inform your bank and they may then close your account. Many UK banks expressly state this in their terms and conditions.

This is (partly) because, since Brexit, most UK banks are not authorised to provide services to EU residents - they need a separate EU licence and registration to do so.

cydreaming

I can't find the exact link now but I was looking into this a few weeks ago HSBC said you can keep the account even with a non-UK address meanwhile Barclays said you must have a UK address.


So HSBC would be the one to go for, there may be others too but definitively HSBC.

SimCityAT

I can't find the exact link now but I was looking into this a few weeks ago HSBC said you can keep the account even with a non-UK address meanwhile Barclays said you must have a UK address.
So HSBC would be the one to go for, there may be others too but definitively HSBC. - @cydreaming

I'm with Barclays, they know I live in Austria. They have my Austrian address and my father's address in Wales.

simoningram

I’m with Lloyds and they allow it,

Drambuie

Had an account with Barclays for donkeys years. They closed it when I moved to Cyprus.

Halifax/Lloyd's no problem.

Peter Ty

@cydreaming

HSBC might try to persuade you to switch to an "°µÍø½ûÇø" account (based on Jersey) - but I think there's a fairly high minimum income requirement for that account!

Toon

@cydreaming

For sure I have kept my HSBC accounts live in both Malta for 6 years and now Cyprus 11 years and when Brexit happened I got confirmation from HSBC that they would not be closing my account as long as transactions were going in and out ...which they do.


Fixed term deposits are still possible with them too but it's a bit of a drawn out process each time at renewal. Even after 17 years as a customer....


..NB it's a standard account with both Flexi savings and online bonus accounts..plus a global money account allowing me to exchange to euros when I may need to despite having linked Revolut accounts ..always good to have a back up account... Things can change so its better to have it and not need it than to need it and not have it .   


Open the accounts you need before leaving UK


Q..did anyone ever use a Starling account whilst in UK then move to Cyprus? is it still allowed once you've relocated?