I’ve been through my fair share of bank accounts and had trouble in the past keeping UK accounts open while being an expat. Not to mention, how do you spend money in your local country, withdraw cash should you need it and make any international transfers?
I recorded a video a long time ago about when I lived in China and how I moved money out of China. I now live in Thailand and use a variety of accounts.
If you have any questions, please let me know by using the button at the bottom of this page.
HSBC Expat Premier Account
Experience banking excellence with the HSBC Expat Premier Account, a prestigious account available in sterling, dollars, or euros. The account, which comes with a debit card, a Foreign Exchange app, and a complimentary travel security service, is accessible 24/7 through phone, mobile banking app, online, or a dedicated Relationship Manager. Ideal for individuals who already bank with HSBC, need round-the-clock telephone banking support, regularly relocate, have a family, frequently make international payments, or need to save in multiple currencies.
Key Details:
- Minimum Balance: £50,000 deposit or £100,000 sole salary or existing HSBC Premier customer in another country.
- Country Restrictions: Must reside or be situated in an eligible country.
- Fees and Charges: No monthly or annual fee, but charges may apply to certain transactions and transfers.
- Application Options: Online, phone, mobile app.
Lloyds International Current Account
The Lloyds International Bank Account is tailored for moderate earners seeking convenient access to their funds while living abroad. Domiciled in the Isle of Man or Gibraltar and available in £GBP, €EUR, or $USD, this account incurs a monthly fee and allows for holding multiple currencies. Perfect for those earning over £50,000 annually, lacking significant savings, desiring currency management, and preferring internet and phone banking.
Key Details:
- Minimum Requirements: £50,000 per year salary or £25,000 initial deposit.
- Country Restrictions: Subject to local laws and regulations regarding offshore accounts.
- Fees and Charges: £7.50 per month (or €8/$10 USD).
- Application Options: Online, phone.
NatWest International Premier Banking
The NatWest International Premier Account empowers account holders to manage finances across multiple currencies, whether transitioning between the UK and abroad or residing overseas. Suited for individuals earning £75,000+ annually or depositing £100,000 upon account opening, requiring 24/7 online, mobile, and telephone banking, and regularly making international payments.
Key Details:
- Minimum Balance: Initial deposit of £100,000 or a minimum £75,000 annual income.
- Country Restrictions: Must be a resident in one of the specified countries.
- Fees and Charges: No monthly or annual fee, but charges may apply to certain transactions and transfers.
Moneycorp Personal Account
Experience confidence in international money transfers with Moneycorp’s sleek and professional service, offering competitive exchange rates and zero transfer fees. Suitable for private individuals and corporate institutions, Moneycorp has been a trusted player in foreign exchange since 1979.
Key Facts:
- Minimum Balance: No minimum balance.
- Country Restrictions: Access to over 120 currencies.
- Fees and Charges: No fees for foreign exchange rates and no monthly account fee.
Santander International Gold Account
The Santander International Gold Account provides flexibility for individuals with a minimum £75,000 deposit, offering Stirling, Euro, or USD currencies. Enjoy commission-free currency exchange rates, internet and telephone banking, and a Visa debit card – perfect for those living abroad and frequently moving.
Key Details:
- Minimum Balance: £75,000.
- Country Restrictions: Information not available.
- Fees and Charges: No charges.
Standard Bank Optimum Account
Embark on international banking with ease through the Standard Bank Optimum Account, featuring a low entry point and holistic banking solutions. Ideal for expats needing sterling, dollar (US and AU), or euro transactional banking, flexibility across borders, access to FX, savings, and lending services, and digital solutions like internet and mobile banking.
Key Details:
- Minimum Balance: £5,000 (currency equivalent applies).
- Eligibility: Eligibility applies.
- Application Options: Online, phone, post.
- Fees and Charges: Quarterly maintenance fee (£60) applies if the average balance falls below the minimum per quarter.
Summary
There are lots of bank accounts out there for expats, it’s deciding which one you like and which suits you and your lifestyle. I have several accounts mainly HSBC and Revolut. Revolut is good because it’s online and easy, plus gives you currency options, HSBC has worked well, but I had some issues with transfers at the very start.
In today’s 21st century, I usually find that I like banks which have a good and robust online service, such as Revolut but then if there is a problem knowing that I can speak to someone easily is reassuring. When I first moved out, I was with a particular bank and they kept asking me to go to a branch back in the UK, I lived many thousands of miles away.
This is very similar to investment platforms, you don’t want to post your passport off, you want to submit it all online and the application process be simple. However, if there is a problem, you can get help.
If you have any questions, please let me know by using the button at the bottom of the page.
Articles you might find useful:
- Lloyds International Bank Review and How Expats Access Their Fixed Deposits
- HDFC Bank Review for High Net Worth Individuals
- Citibank Review for Expats
- Comparing Platforms – Novia vs Morningstar for Expats
https://www.youtube.com/watch?v=WqV_s5U1Xo0
