Opening a UK bank account as a non-resident

[KyushuWoozy]

I'm almost sure even Nationwide won't let you open a new account as a Japanese resident (though happy to be proven wrong because I'd love to open UK bank account). One of the banks told me this is due to some regulation prohibiting UK banks from cross-border selling, especially for folks like us outside Europe. Nationwide used to have an offshore arm but this was closed some years ago.

Definitely good move on your part though to keep existing banks open.

[Beaglehound]

Yeah, only moved here a year ago so UK savings accounts are still paying decent interest but that is a very good tip you gave upthread about NS and I. Am getting 1.4% on my other accounts so not one for the present but can certainly see me using it in future, provided they don’t find a reason to disqualify overseas folk in the meantime.

[concerned]

Natwest and Santander also have branches in Isle of Man and Channel Islands, you could try these

[adamu]

Isle of Man and Channel Islands, are not part of the UK, so you can't get a UK bank account there.

You may be able to get an "offshore" account, but last time I checked the fees were ridiculous.

However, with a new wave of "challenger banks" (https://www.bankingtech.com/2018/04/uk- ... heir-tech/) there are now a few more options available.

I recently opened a bank account with Monzo, and was able to transfer some money using Transferwise very cheaply and quickly (£500 for about ¥500, cleared in about 2 working days)

Seems like the OP has found the best option so far.

[ricardo]

When you click on the OP’s link you get:

“Error 404
Page not found
The Bank of 404 appears to be missing, perhaps another victim of the rise of fintechs or more sensibly you’re on a broken page. Perhaps you can find what you are looking for by visiting our home page: www.bankingtech.com Alternatively, use the form below to search the site:”

I wouldn’t trust these ‘challenger’ banks as far as I could throw them.

If you lived in the UK would you expect a Japanese bank to open an account for you?

[Sybil]

Isle of Man and Channel Islands, are not part of the UK, so you can't get a UK bank account there.

You may be able to get an "offshore" account, but last time I checked the fees were ridiculous.

Up until a couple of years ago my offshore Santander savings account (bond) was paying well over 4% interest, which was much higher than accounts available in the UK at the time.

Interest rates have significantly been reduced in recent years. And minimum deposits have been increased.

[adamu]

When you click on the OP’s link you get:

“Error 404
Page not found

Here's an archived link: https://web.archive.org/web/20180422215 ... heir-tech/

I personally think I'm going to put all my money into the Bank of Dave (awaiting banking licence).

[kuma]

In the FAQs section of Monzo’s website (https://monzo.com/faq/) it says:

Do I need to be a UK resident?
Yes, you currently need to be resident in the UK to get a Monzo card. We hope to launch internationally in the future though!

Can one open an account though without a card? And how are their plans for internationalisation going? I’ve written to ask.