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Can you open an account without proof of address
When you want to open an account with any bank or building society, you will be asked to provide evidence of your identity and confirmation of your address. Yet for those who have been living abroad and are planning to move or return to the UK, this can be a harrowing experience.
Having no credit history in the UK and no proof of address are massive hurdles to jump before you can set up a new current account, which will enable your employer to pay your wages directly into your bank account.
Although most banks and building societies expect you to have a UK address before you can open a bank account, there are specialist products, such as the HSBC Passport account, designed for foreign nationals, which could be an alternative if you do not meet standard account criteria.
HSBC Passport account holders must be over 16 and, when applying, the bank requires applicants to bring one form of identification and one non-UK address verification into their local branch.
For those of us who have lived in the UK all our lives, having proof of residence can still be a problem if you have been renting a property with a partner and all the bills are in their name, renting a room in a shared house and do not pay any bills or if you are not on the electoral role for some reason.
That said, international banks such as HSBC do offer accounts (HSBC passport) for international citizens where proof of address is not required but a month fee is.
Alternatives you could try to get proof of address;
-If your employer has provided you with a contract of employment or payslip with your current address on it, you may be able to use that.Alternatively, your HMRC P2 'PAYE Coding Notice' which notifies you what your tax code is usually accepted as proof of address alongside a current Drivers License or Passport.
-Contact your local HMRC tax office
-Alternatively apply for a Prepaid Card. Prepaid cards are great for students and those that have little or no credit history. Once the card is sent to your home, use the letter that comes with it as proof of address.
A Prepaid Account Card can also be the perfect alternative to a bank account:
•Some prepaid cards allow you to use them like a bank account and have your wages paid directly to your card's account – without any links to any other account you may have.
•There are no unexpected bank charges and very little paperwork to fill in to get an account.
•Just use it like a bank account, pay bills online and set up regular payments for everything from your gas and electric bill to your broadband.
otherwise the standards forms of proof of address are:
•Utility Bills: gas, water, electric, cable TV or land-line phone bill (not mobile) that's less than three months old
•Local authority Council Tax Bill issued within the current financial year
•UK bank statement that's less than three months old (internet statements aren't acceptable)
•UK Credit Card statement that's less than three months old (internet statements aren't acceptable)
•Tenancy Agreement or Council rent book (must be current)
•Catalogue or Mail Order Statement that's less than three months old
•Hire Purchase Statement of Account
•Pension Book
•UK Photocard Driving License with current address and full paper counterpart
•Medical card / NHS Card
•UK Mortgage statement that's less than three months old (internet statements aren't acceptable)
•Motor insurance or Home Insurance certificate issued within the last 12 months
Having no credit history in the UK and no proof of address are massive hurdles to jump before you can set up a new current account, which will enable your employer to pay your wages directly into your bank account.
Although most banks and building societies expect you to have a UK address before you can open a bank account, there are specialist products, such as the HSBC Passport account, designed for foreign nationals, which could be an alternative if you do not meet standard account criteria.
HSBC Passport account holders must be over 16 and, when applying, the bank requires applicants to bring one form of identification and one non-UK address verification into their local branch.
For those of us who have lived in the UK all our lives, having proof of residence can still be a problem if you have been renting a property with a partner and all the bills are in their name, renting a room in a shared house and do not pay any bills or if you are not on the electoral role for some reason.
Before applying for a bank account, be aware:
- Passports, National Insurance Cards or Birth Certificates are not classed as adequate proof of address as these do not prove your address, just your identity.
- Passports, National Identity Cards and Travel documents must be current, i.e. unexpired.
- Letters should be of recent date, or, in the case of students, the course dates stated in the Letter of Acceptance should reasonably correspond with the date of the account application to the bank. All documents must be original.
That said, international banks such as HSBC do offer accounts (HSBC passport) for international citizens where proof of address is not required but a month fee is.
Alternatives you could try to get proof of address;
-If your employer has provided you with a contract of employment or payslip with your current address on it, you may be able to use that.Alternatively, your HMRC P2 'PAYE Coding Notice' which notifies you what your tax code is usually accepted as proof of address alongside a current Drivers License or Passport.
-Contact your local HMRC tax office
-Alternatively apply for a Prepaid Card. Prepaid cards are great for students and those that have little or no credit history. Once the card is sent to your home, use the letter that comes with it as proof of address.
A Prepaid Account Card can also be the perfect alternative to a bank account:
•Some prepaid cards allow you to use them like a bank account and have your wages paid directly to your card's account – without any links to any other account you may have.
•There are no unexpected bank charges and very little paperwork to fill in to get an account.
•Just use it like a bank account, pay bills online and set up regular payments for everything from your gas and electric bill to your broadband.
otherwise the standards forms of proof of address are:
•Utility Bills: gas, water, electric, cable TV or land-line phone bill (not mobile) that's less than three months old
•Local authority Council Tax Bill issued within the current financial year
•UK bank statement that's less than three months old (internet statements aren't acceptable)
•UK Credit Card statement that's less than three months old (internet statements aren't acceptable)
•Tenancy Agreement or Council rent book (must be current)
•Catalogue or Mail Order Statement that's less than three months old
•Hire Purchase Statement of Account
•Pension Book
•UK Photocard Driving License with current address and full paper counterpart
•Medical card / NHS Card
•UK Mortgage statement that's less than three months old (internet statements aren't acceptable)
•Motor insurance or Home Insurance certificate issued within the last 12 months
US HSBC Bank account for non resident
HSBC is one of the most popular bank in the world, open an account here is possible. Follow these steps to get your own account. Step 1 will tell you about the process.
This is not a fast proccess and can take one or two months to complete depending on your actions.
You need to speack english very fluently as you will need to have direct contact with the bank by phone.
First you need to contact HSCB offices to their phone 1-800-975-HSCB (4722) or 1-888-404-4050
You need to ask for the bank account you need and they will send you the forms by email. You print them, fill them and send them by normal mail. They will review it and, if everthing is alright, they will open the account.
If you need help filling the forms you can contact 1-716-841-7542
On the mail you will get some letters. First the welcome letter with the account number. Then you will get two more. One with the details for phone banking and other with the debit card. Later on you will get a final one with the debit card password.
Key Information you Need to know.
The account is free as long as it as money moving on it. If the account becomes inactive then it will pass to a “Basic” model with a $3 monthly fee.
To qualify for HSBC Premier, you need to maintain $100,000 in combined personal deposit and investment balances or $500,000 in combined personal deposit, investment, and credit/mortgage balances. Business owners may use their commercial balances to qualify for personal Premier membership. A monthly maintenance fee of $100 will be incurred if minimum balance requirements are not maintained.
To speak to a Relationship Manager about becoming a Premier client, outside the U.S. call collect 1-716 841-6866.
A US based address is required for opening HSBC bank account. So read more about it before go to the next step. We are also posted resouce about US address, you can see on the right side.
They normally open the Premier account when you don’t have a US based address. The solution is to hire a mailing address and use that to ask for the free account. You need to set that addres for the mails in the form W8-BEN you will need to fill.
You will also need an utility bill to certify the address. Now, as you will not be able to get that utillity bills with the mailing address service they will sent the documentation of the account to your local address (except the online banking password, more on that later)
Remember to check our resouce about US Address.
Letter from your local bank is also required, make sure you know about it. This is an important step.
It’s very important to have a local bank reference letter. As to send screenshots of the local bank accounts you have. By doing this the bank is working according the Patriot Act, which demands that they should be making all the reasonable efforts to validate the customer origin.
If you don’t have a local bank account or credit cards, you better get it prior the procces fr opening the US bank account in HSCB.
Your local address needs to be validated with an utility bill. If this documents don’t have your name on it or if the address is not exact you need to fix that. If it’s a rented place you need to send a signed contract that can certified your address.
They will send it by email along with a special link for you to create a username for your online banking service.
You will also need a password that the bank will send via regular mail. The problem is that they will only send this to a US based address. So you will need to use the forwarding mail service. Be sure not to use a P.O. Box as this is not accepted for the bank.
Now this needs special attention: When you give the address be sure to ask them to read it for you for confirmation. Sometimes their system don’t get the forwarding mail addresses correclty. If this is the case ask them to put the address in the “attention” field.
Now, this mail can take some time. Two weeks or more. The best is to be patient. You can call the bank after a few weeks to check that the mail has been sent.
Very Important!
Remember, this process is not a “standard service” so there could be problems. If this happen the best is to contact them to see what can be done.
For instance, as you will be using a mailing address service, you need to mention it as it is: A forwarding mail service for merchandise and regular documents/letters. Be sure not to use a Postal Address or P.O. Box, which is not accepted by the bank. Even when this is similar the big difference is that a forwarding mail services have a person responsible of receiving the documents which will not going to happen in a P.O. Box. If the bank ask you need to explain it in clear therms.
HSCB customer service is very friendly and they do try to give you the best service possible. At the end if you do everything correctly you will see it is worth the effort.
STEP 1: The Process in simple words
Next you will find guidelines on how to get a bank account in HSCB. The sucess depends a lot on how you are qualified by the bank and it is not guranteed.This is not a fast proccess and can take one or two months to complete depending on your actions.
You need to speack english very fluently as you will need to have direct contact with the bank by phone.
First you need to contact HSCB offices to their phone 1-800-975-HSCB (4722) or 1-888-404-4050
You need to ask for the bank account you need and they will send you the forms by email. You print them, fill them and send them by normal mail. They will review it and, if everthing is alright, they will open the account.
If you need help filling the forms you can contact 1-716-841-7542
On the mail you will get some letters. First the welcome letter with the account number. Then you will get two more. One with the details for phone banking and other with the debit card. Later on you will get a final one with the debit card password.
Key Information you Need to know.
STEP 2: Choose account type
There are two types of account, the Free and the Premier. You would find better to open the “Free”. The Premier charges a $50 fee every month. The “Free” doesn’t charge anything monthly.The account is free as long as it as money moving on it. If the account becomes inactive then it will pass to a “Basic” model with a $3 monthly fee.
To qualify for HSBC Premier, you need to maintain $100,000 in combined personal deposit and investment balances or $500,000 in combined personal deposit, investment, and credit/mortgage balances. Business owners may use their commercial balances to qualify for personal Premier membership. A monthly maintenance fee of $100 will be incurred if minimum balance requirements are not maintained.
To speak to a Relationship Manager about becoming a Premier client, outside the U.S. call collect 1-716 841-6866.
A US based address is required for opening HSBC bank account. So read more about it before go to the next step. We are also posted resouce about US address, you can see on the right side.
STEP 3: A US based mailing address
Even when the bank will agree to open a US based account for a non-US resident, they will ask for a US based address to send your mails.They normally open the Premier account when you don’t have a US based address. The solution is to hire a mailing address and use that to ask for the free account. You need to set that addres for the mails in the form W8-BEN you will need to fill.
You will also need an utility bill to certify the address. Now, as you will not be able to get that utillity bills with the mailing address service they will sent the documentation of the account to your local address (except the online banking password, more on that later)
Remember to check our resouce about US Address.
Letter from your local bank is also required, make sure you know about it. This is an important step.
STEP 4: Local References
The bank will ask you to send references in order to complain with the Patriot Act.It’s very important to have a local bank reference letter. As to send screenshots of the local bank accounts you have. By doing this the bank is working according the Patriot Act, which demands that they should be making all the reasonable efforts to validate the customer origin.
If you don’t have a local bank account or credit cards, you better get it prior the procces fr opening the US bank account in HSCB.
Your local address needs to be validated with an utility bill. If this documents don’t have your name on it or if the address is not exact you need to fix that. If it’s a rented place you need to send a signed contract that can certified your address.
STEP 5: Set Up Your Online Banking Service
A very special task is to get the online banking access. The normal proccess ask for a SSN. What you need to do is call the bank and ask for a “Temporary ID Registration”They will send it by email along with a special link for you to create a username for your online banking service.
You will also need a password that the bank will send via regular mail. The problem is that they will only send this to a US based address. So you will need to use the forwarding mail service. Be sure not to use a P.O. Box as this is not accepted for the bank.
Now this needs special attention: When you give the address be sure to ask them to read it for you for confirmation. Sometimes their system don’t get the forwarding mail addresses correclty. If this is the case ask them to put the address in the “attention” field.
Now, this mail can take some time. Two weeks or more. The best is to be patient. You can call the bank after a few weeks to check that the mail has been sent.
Very Important!
Remember, this process is not a “standard service” so there could be problems. If this happen the best is to contact them to see what can be done.
STEP 6: Always tell the truth
Don’t try to disguise your situation to improve the odds on getting the account. If they simply suspect there is something unclear they will simply tell you that you can’t have the account.For instance, as you will be using a mailing address service, you need to mention it as it is: A forwarding mail service for merchandise and regular documents/letters. Be sure not to use a Postal Address or P.O. Box, which is not accepted by the bank. Even when this is similar the big difference is that a forwarding mail services have a person responsible of receiving the documents which will not going to happen in a P.O. Box. If the bank ask you need to explain it in clear therms.
HSCB customer service is very friendly and they do try to give you the best service possible. At the end if you do everything correctly you will see it is worth the effort.
How banking works in the UK
A summary of how to manage your money while living in the UK
Holding your money
There are a variety of different types of bank account that you can hold your
money in when you move to the UK. These range from basic and current accounts
for your everyday needs, fee-paying accounts that offer additional benefits, and
savings accounts to grow your money. Some UK bank accounts do not charge a
monthly fee, unlike banks in many other countries. Your employer will require
you to set up a bank account to pay your salary into and you can also arrange
for any benefits and state pension to be paid directly into it too.
Basic accounts enable you to pay in cheques
or cash, free of charge. You
don't get a chequebook
with a basic account and there
is no overdraft
facility, meaning you cannot
take out more money than you have in the account.
It can sometimes be difficult to obtain a UK proof of address when you first arrive. If you need to open an account without a UK proof of address consider HSBC's Basic Bank Account.
It can sometimes be difficult to obtain a UK proof of address when you first arrive. If you need to open an account without a UK proof of address consider HSBC's Basic Bank Account.
Current accounts usually offer a chequebook, a
debit card that you can use to pay for items and withdraw money from an ATM
, as well as the opportunity to
set up direct debits
and standing orders
and accept transfers. Some
banks may allow you to set up a pre-arranged overdraft facility, but charges
normally apply. Read about HSBC's current accounts. Opening an HSBC
account, and agreeing an overdraft with us, is subject to our lending criteria
and your status.
Have a look at our International Benefits table
for a breakdown of international features and benefits that HSBC bank accounts
offer.
Some UK bank accounts do not charge a monthly fee, unlike banks in many other countries
Getting cash
You can withdraw your money from nearly 60,000 UK
ATMs, also known as cashpoints or holes in the wall. Most cashpoints in banks
are free to use. Some private cash dispensers charge you to make a withdrawal
but this will be clearly signposted. You can also ask for cashback
when you pay for goods by debit
card in a shop.
Shopping
You can pay for goods with cash, your credit card
or debit card using chip and PIN
or by cheque, although cheques
are becoming less widely accepted.
Debit and credit cards look very similar but debit
cards allow the holder to withdraw or transfer money electronically from their
account when making a purchase, whereas credit cards may be used to withdraw
money or buy products or services on credit
. Unless you have an overdraft
facility, debit cards only allow you to spend the money in your bank account, so
they are good to avoid getting into debt. Be aware that outstanding balances on
credit cards have to be paid back, with interest if you do not settle the
monthly bill in full. A minimum spend sometimes applies to card transactions,
particularly in smaller stores.
Managing your money
You can manage your money by going into a branch, online or over the
telephone. You can also set up standing orders or direct debits, which allow you
to make regular payments through your bank. Internet banking is becoming
increasingly popular and is convenient to use. You can go online to transfer
money between your accounts, set up BACS
or CHAPS
payments and view your account
activity. Normally, banks send paper statements summarising your transactions to
your home address but give the option to turn these off in return for
eStatements, which are quicker, safer and kinder to the environment.
You can transfer money from one UK financial institution to another through BACS, or CHAPS. There is normally a charge for CHAPS, as the money transfers on the same day.
You can transfer money from one UK financial institution to another through BACS, or CHAPS. There is normally a charge for CHAPS, as the money transfers on the same day.
If you need to transfer money to family back home
or to one of your overseas accounts, there are various methods you can use.
Depending on where it has to go, how quickly it is needed and how much you are
willing to spend.
Borrowing
Loans
, overdrafts
and buying on credit are all
methods of borrowing money. If you borrow money, you will normally have to pay
interest on your debt. Rates of interest vary depending on the type of
borrowing, the repayment period and the lender.
Types of loans include unsecured loans and secured
loans that can be taken out against property, which normally require you to pay
the money back in regular instalments. Overdrafts and credit cards can offer
more flexible borrowing than loans because their repayment plans are often less
rigid, but the interest rate is generally higher than with a personal loan.
Buying on credit includes paying for goods or services by credit card, store card
, hire purchase
and 'buy now pay later' credit agreements
.
Before deciding to borrow money, you should
consider if you will be able to repay it, bearing in mind you may have to pay
interest on the debt. HSBC's budget calculator can help you
check your income against outgoings to see what you would have left at the end
of each month to repay the debt.
By using the International Banking Centre
to open a UK account before you arrive, it may be possible to transfer your
credit history so that you can continue your banking relationship with us. This
means that banks will be able to run a credit check on you if you apply for
credit.
Saving
To earn interest, you may wish to open a savings
account. There is a wide range available and the main differences between them
are how quickly you can access your money, the minimum amount required to keep
the account open and the type and rate of interest paid. Read about HSBC's savings accounts.
You can make your money work harder in savings accounts, which can pay higher
interest than current accounts. The rate of interest will vary depending on the
bank, the type of account and how easily you can access your money.
No notice
accounts
and instant access
savings
accounts let you get hold of
your cash whenever you need to. They provide greater flexibility than notice
accounts and bonds, but the interest rates are often lower.
Saving your money in a notice
account
is a good way to prevent rash
spending decisions. They offer better interest rates than instant access
accounts.
Bonds
or term accounts
offer an even better rate of
interest but require you to lock your money away for longer – the longer the
timescale, the higher the interest rate.
Regular savings
accounts
require a deposit to be paid
into the account each month. They offer higher rates of interest than a normal
savings account but can limit how much you can put in on a monthly basis. Missed
deposits can mean a drop in interest.
Banks and building societies usually deduct 20%
income tax
from the interest they pay on
most savings accounts. But if you are a low earner, you may be able to have your
interest paid gross
, which means there will be no
tax deducted from the interest you earn.
Once you've lived in the UK long enough to be
classed as a resident, you can save tax free using an ISA
. There are a variety of cash
ISAs available, with different terms and notice periods, as well as stocks and
shares ISAs. Many ISAs offer full, instant access, but there are limits on how
much you
can invest each tax year. So, if you use your full allowance but then take money out, it cannot be paid back in.
can invest each tax year. So, if you use your full allowance but then take money out, it cannot be paid back in.
Check if you qualify for advice
If you have £50,000 or more in savings and
investments, you may be eligible for HSBC Premier Financial Advice. See the full eligibility
criteria.
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