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Old 27.03.2007, 09:31
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using savings accounts in the UK

I was thinking of putting some of my savings in a high interest account in the UK. Does anyone know if there would be any problem doing this? I still have a UK bank account sice I left the UK approx six years ago.
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Old 27.03.2007, 09:42
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Re: using savings accounts in the UK

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I was thinking of putting some of my savings in a high interest account in the UK. Does anyone know if there would be any problem doing this? I still have a UK bank account sice I left the UK approx six years ago.
I do this, I don't think there's any problem, and you get a better rate of interest. With my account I have to fill in a form to claim tax back on my interest though.
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Old 27.03.2007, 09:47
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Re: using savings accounts in the UK

Yes, the UK High Street banks will deduct tax, which you can also reclaim if you fill in a UK tax return. An offshore account at a Jersey branch of a UK bank may be worth investigating...
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Old 27.03.2007, 09:58
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Re: using savings accounts in the UK

thanks for the advice.

Will I be ok just to ring my UK bank and arrange a savings account or do I have keep my residence in Switzerland secret ? Some of the forms ask for some residential details.
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Old 27.03.2007, 10:03
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Re: using savings accounts in the UK

In my experience UK banks don't care where you live. I've had one all the time I've lived over here with my Swiss address, they are quite happy to send the statements etc to Switzerland.
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Old 27.03.2007, 10:04
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Re: using savings accounts in the UK

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thanks for the advice.

Will I be ok just to ring my UK bank and arrange a savings account or do I have keep my residence in Switzerland secret ? Some of the forms ask for some residential details.

It depends on the bank I think. I had to change my address to my parents. But other banks have specific forms for registering your account as belonging to a non-resident, and automatically cancel tax.
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Old 27.03.2007, 12:46
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Re: using savings accounts in the UK

I've had an account with LloydsTSB for the 18 years I've been here, They have my Swiss address and send statements here. They even called me up some years ago to activate their ebanking, despite their requirement that you must be in the UK to use it...
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