Nice suggestion. At least with the information I have, Euro accounts with Bank of Scotland earns an interest rate of 4.25% (for less than 50k), while it is only 4.05% with Nationwide International. Also one need to watch out clause 13 of the bank’s terms and conditions that reads – “We will use our own exchange rates for currency conversions which may or may not be the best foreign exchange rate available at the time of transaction”; could become important when taking money out in another currency.

Does this bank demands from non-uk residents a copy of the tax certificate filed in their resident country (Switzerland)?. Scotland bank does, which makes it easier for Uk tax authorities to transfer information to their swiss counterparts.

Ashish.

Note that Nationwide charge "interbank" rates - they're well known for not loading their foreign currency transactions.

Also, when I looked at offshore accounts, many had charges for transfers caused by their clearing bankers. Nationwide allow you to swap money between offshore and UK mainland Nationwide accounts free of charge (Sterling only obviously)... but they still may impose charges for other transfers.

This makes it practical to manage smaller sums of money, otherwise you lose a lot of exchange rates and charges

Any inputs from you as to whether this bank demands a copy of swiss tax certificate for opening an account? Thanks in advance. Ashish

I don't remember, sorry.

However, this is their FAQ on the EU savings directive

Your address is Switzerland, so no problems...