Barclays UK closing expat accounts ?

[RetroNewbie]

Plus they don't pay any interest.

I don't have their physical debit card, but I was quite impressed that I could get a virtual one on my phone in about 10 seconds.

[banders]

The main issues with WISE for Japan residents are that the maximum balance of all currencies can not exceed 1 million yen. So if you have more than 6000 pounds in the UK, putting it in Wise would more than max you out.

Also, it might be a sticking point for some that Wise's UK bank accounts are not covered by the FSCS (which guarentees all deposits up to 85,000 GBP). But since your losses are limited to 1 million yen, maybe it is not something to worry about.

https://wise.com/help/articles/3GBSRou4 ... e-in-japan

Why would you transfer money to Wise and keep it there? My transfers from the UK go into my Wise GBP a/c, I transfer them immediately to my Wise JPY a/c then transfer out to my J bank. Similarly v.v.

[adamu]

Why would you transfer money to Wise and keep it there?

I deposit a few man and use it for general non-JPY purchases, then top up when it runs out. Cheaper than the credit card (and the instant notification when a transaction occurs is nice, too).

[banders]

Why would you transfer money to Wise and keep it there?

I deposit a few man and use it for general non-JPY purchases, then top up when it runs out. Cheaper than the credit card (and the instant notification when a transaction occurs is nice, too).

Right. But not a million yen!

[Deep Blue]

The main issues with WISE for Japan residents are that the maximum balance of all currencies can not exceed 1 million yen. So if you have more than 6000 pounds in the UK, putting it in Wise would more than max you out.

Also, it might be a sticking point for some that Wise's UK bank accounts are not covered by the FSCS (which guarentees all deposits up to 85,000 GBP). But since your losses are limited to 1 million yen, maybe it is not something to worry about.

https://wise.com/help/articles/3GBSRou4 ... e-in-japan

Why would you transfer money to Wise and keep it there? My transfers from the UK go into my Wise GBP a/c, I transfer them immediately to my Wise JPY a/c then transfer out to my J bank. Similarly v.v.

The use case being discussed was Wise as a UK current account. As a conduit for transferring small sums cheaply I agree it is a good option.

[Del]

Following us receiving the account closure notification from Barclays and with info gleaned on this forum ( thank you all including @RetireJapan for this resource ), we made an impromptu trip to the UK to open a HSBC account using our Japanese address. Process took over an hour. Documentation used are as follows:

Recent Barclays Bank statements with Japanese address ( changed 3 yrs ago ! ) Suggest printed from a Barclays Bank branch and stamped if possible.
Japanese IDP International Driver’s Permit ( This also has your Japanese address in English )
Passports ( Wedding certificate taken due to the unusual naming convention used in my wife’s Japanese passport - maiden name followed by married surname in brackets )
Letter from Barclays regarding forthcoming account closure.
MyNumber Card for tax identification purpose as UK non-resident ( They had difficulty inputting this number but eventually resolved it: no spaces )
Proof of income ( in our case current pension payments to Barclays listed on bank statements )

Bank accounts with No Lending opened (suits our current needs). Debit cards to be sent to our Japanese home address.

Suggest making an appointment with a full service HSBC UK branch and be prepared.

Next NS&I for savings.

Del

[adamu]

Japanese IDP International Driver’s Permit ( This also has your Japanese address in English )

Oh that is useful information, thanks!

[Wales4rugbyWC23]

Following us receiving the account closure notification from Barclays and with info gleaned on this forum ( thank you all including @RetireJapan for this resource ), we made an impromptu trip to the UK to open a HSBC account using our Japanese address. Process took over an hour. Documentation used are as follows:

Recent Barclays Bank statements with Japanese address ( changed 3 yrs ago ! ) Suggest printed from a Barclays Bank branch and stamped if possible.
Japanese IDP International Driver’s Permit ( This also has your Japanese address in English )
Passports ( Wedding certificate taken due to the unusual naming convention used in my wife’s Japanese passport - maiden name followed by married surname in brackets )
Letter from Barclays regarding forthcoming account closure.
MyNumber Card for tax identification purpose as UK non-resident ( They had difficulty inputting this number but eventually resolved it: no spaces )
Proof of income ( in our case current pension payments to Barclays listed on bank statements )

Bank accounts with No Lending opened (suits our current needs). Debit cards to be sent to our Japanese home address.

Suggest making an appointment with a full service HSBC UK branch and be prepared.

Next NS&I for savings.

Del

Looking forward to your NS & I application process story. I have heard that non-residents can still save with them and the interest rates are quite competitive. Better than most high street banks.

[banders]

Following us receiving the account closure notification from Barclays and with info gleaned on this forum ( thank you all including @RetireJapan for this resource ), we made an impromptu trip to the UK to open a HSBC account using our Japanese address. Process took over an hour. Documentation used are as follows:

May I ask what you will use the bank account for?

[Del]

Hi banders

HSBC accounts opened to transfer our monies from Barclays.
Paying in our UK Pensions.
Paying out a couple of direct debits.
Seems important to have a UK account when transferring monies to NS & I .
To use on occasion when we are in the UK.

Del