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You are here: Home Finance & Business Banking Editor's Guide: Banking in the UK
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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".


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