Lloyds offshore11/28/2023 HSBC receives 1.8/5 on Trustpilot (poor), but to be fair, the really bad reviews tend to be focused on online communication. HSBC can’t compete with neobanks when it comes to price, usability and service. On the other hand if you receive income in another currency or need to exchange currencies regularly it may be worth looking elsewhere. You’ll be banking with a recognised name and in all likelihood a branch presence in your country as HSBC is a truly global operation. If you can meet those requirements and are paid in pounds, dollars or euros HSBC might be worth a look. To open an HSBC Expat account you will need a salary of at least £100,000 or £50,000 in cash to keep in the bank at all times. They offer a current account, various savings options, investment products and even expat mortgages.Ĭurrent accounts are available in GBP, USD and EUR and you can save in 19 currencies depending on which savings products you choose. In fact, if you are lucky you may even have a local branch. HSBC Expat is definitely the best known of the options we are going to take a look at. It is a UK high street bank that needs no introduction with a long international history. We’ll start with one of the best offshore banks in terms of global presence. HSBC offshore banking with global presence British expats bank accounts – the bottom line.Challengers to the best offshore accounts.HSBC offshore banking with global presence.Is willing to pair with investment platform for savings & investments Need to pair with expat investment platform for savings & investments No credit check / proof of address needed Needs an offshore account but doesn’t meet HSBC’s requirements Standard account offers an offshore account with lower requirements than HSBCĮarns £50K or £100K (Premier) or equivalent Here’s a summary: British expats bank accounts summary Name of bank (We haven’t covered business bank accounts here but if that’s what you are after they are covered here) Every option we are looking at will be right for somebody. I’ve had more than a few people ask me which bank I use recently, so full disclosure, I use Wise instead of a current account and an investment platform for savings. There are also neobanks that provide pretty much everything you’d expect from a current account without actually being a bank.Īnd finally there are some great investment platforms out there open to expats and non residents that can provide you with excellent savings alternatives. Some of the bigger UK banks offer alternative offshore accounts, usually located somewhere in the Channel Islands. But that doesn’t mean you don’t have options though because you do. In fact, over the last few years it has become a whole lot harder to open a non resident UK bank account whilst living overseas.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |