topics
tools
Expatica countries
editor's choice

Crime and the legal system in the UK

Tips for understanding the Brits

Banking in the UK

Culture and social etiquette in United Kingdom

Museums in London

Index Last Var.(%)
BEL 20 2076.17 -0.24
DAX 6293.35 -0.25
IBEX 30 6564.2 0.40
CAC 40 3002.47 -0.32
FTSE 100 5280.23 -1.09
AEX 289.05 -0.41
DJIA 12442.49 -1.24
Nasdaq 2813.69 -2.10
FTSE MIB 13109.04 0.15
TSX Composite 11330.68 0.04
ASX 4098.8 -2.61
Hang seng 18951.85 -1.30
Straits Times 2779.1 -1.54
ISEQ 20 484.76 -0.93
You are here: Home Finance & Business Banking Editor's Guide: Banking in the UK
Enlarge font Decrease font Text size


22/03/2011Editor's Guide: Banking in the UK

Editor's Guide: Banking in the UK Here's a short introduction to our Banking section for those living in the UK.

If you're an expat, you'll probably want to open a bank account abroad. The paperwork associated with expat banking can be a hassle at first, but it often eliminates the fees associated with withdrawing cash from back home. Overseas savings accounts also give you quick access to cash and a face-to-face relationship with local financial advisers who can help you with international mortgages and other loans. Different countries and different banks have different rules on foreigners' accounts, so make sure you're prepared for what your British bank of choice requires. Expatica's overview of the British banking system will give you an idea of the sort of services you'll want to consider. For more information, you also might want to read "Expert Tips: Moving money to the UK".

Choosing a local bank

Before you open an expat bank account, make sure that you know who owns the bank, its credit worthiness and which jurisdiction it falls under. As one of our experts advises, “In light of recent turbulence in the banking sector, you need to know if your bank deposits are protected by government schemes. Each jurisdiction has a different position on this. Some offshore bank accounts are held in Jersey, for example, which has no deposit protection at all.” And, as our article ‘Depositors, beware!’ points out, be sure to diversify your assets.

Keeping up-to-date
Expatica’s banking channel keeps you up-to-date with news from the financial world. Articles cover everything from the local and worldwide economic climate to mergers and acquisitions in the banking sector to the benefits of Islamic banking.

Expert Tips

Expert articles include the most cost-effective ways of transferring money abroad and choosing a bank . You can find expert tips in articles like "Expert tips: How to invest your money wisely" and "Expert tips: How to get a decent return on your savings".


0 reactions to this article

0 reactions to this article

ask your question
Discussion Forums

Community Noticeboard United Kingdom

$100 MasterCard for Member with most new members

Community Noticeboard United Kingdom

Website for special needs and disabilities

Community Noticeboard United Kingdom

Military tour to Ukraine for football fans of Euro 2012

UK News

what do you think about the news of the world scandal

Community Noticeboard United Kingdom

SAP Business Objects Online Training in Netherlands by SAP BOSS

participate in the forums

Inside Expatica
Visas for coming to the UK

Visas for coming to the UK

Visa paperwork Whether you're relocating to the UK or just visiting, it's important that you find out in advance whether you need a visa.

An online guide for expats finding & purchasing a UK Property

An online guide for expats finding & purchasing a UK Property

Expat mortgages and everything to do with buying a UK property might sound complicated, but there’s plenty of help out there for you.

UK healthcare: Finding the right NHS service

UK healthcare: Finding the right NHS service

You can access the UK's National Health Service (NHS) in a range of ways. Here is an overview of the main services available to help you get the treatment you need.

Banking in the UK

Banking in the UK

Just moved to the UK? You'll need a bank account to effectively manage your money while you're here. Cliff Govender explains the UK banking system, including facilities that may come in handy down the line.