Alneyan
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I'm currently looking for some basic info about banks in the UK, as I'll be spending a while there starting in a few months. So, does anyone know of a UK-centric website discussing your banks, their respective merits, and all the wicked ways they use to deceive you? Feel free to give more local information, as I don't know yet in which part of the UK I'll be packed to (Jamie, Wales is still on the list).

In particular, I'd like to know if 1) Foreigners can easily open bank accounts over there, 2) Having an account requires some sort of guarantee or steady income source, and 3) Whether credit/debit cards are actually worthwhile and can be used for international purchases. These gimmicks tend to be quite expensive in France compared to plain cash and checks.

The third point also matters because of the standard "send money to Seattle, WA" routine. I'd planned for a release around June or so, but somehow CaravelGames wasn't overly eager to delay TCB just for me.

krammer
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I've no idea how easy account opening is for foreigners. Usually you require your passport or driving licence plus some proof of address... I think all banks will give you a debit card with a current account, and I recommend you get one. Very few (if any) shops in the UK charge for using cards now, nearly everywhere accepts them, and it's a real hassle booking things over the phone etc if you don't have one. It's rare for people to take their chequebook out and about - usually I only pay cheque for one-off things.


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Yellow_Mage
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1) I don't know how easy for a foreigner to open an account either. I'll try to look into it...

2) Depends. The current accounts are lovely, but I've had banking issues... sigh... I hate HSBC. It just needs to be "active" for some of the time, and have money in it most of the time.

3) I'll strongly recommend having a debit card, although they can't always buy you things internationally (had issues buying some online that desire credit cards), unless you have a visa debit card if I recall correctly, which works exactly the same way as a credit card. They are generally useful to have.

Credit cards... love them or hate them, they do have their uses, but not paying them on time = hurt in your wallet plus "hidden charges" when you use them.

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Stephen4Louise
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Money supermarket is good for comparing interest rates on accounts of all types. Other than that Which? should give good advice, although I think you need to subscribe to it.

If you're heading towards Northern Ireland, let me know and I can tell you more about the local banks.

Steve.

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[Last edited by Stephen4Louise at 04-04-2007 04:16 PM]

BeefontheBone
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You'll likely find that, unless you come from the EU, you end up with a slightly crappy debit card like Electron or Solo to start with, which can be tricky for use on the phone/online (though they're fine for most online shops now). Be prepared to need plenty of ID (even for UK nationals, they'll usually ask for 3 differnet things as proof of address).

Some companies hand out (expensive) credit cards like candy over here; best avoided. Your bank will give you one without any hassle once they know you've got a decent income.

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[Last edited by BeefontheBone at 04-04-2007 08:14 PM]

Alneyan
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Thanks everyone! I come from the EU, so that might make things a bit easier... except for ID, of course, the eternal hassle.

BeefontheBone
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It's usually proof of address they want, which is tricky for lots of people (students, people who live with their parents, other people whose housemates/partners pay bills in their name) and must be very difficult when you move to the country.

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Beef Row wrote: Actually, it doesn't really matter because the soap is a lye.

jamie
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Yeah, I agree with what has been said. I got my account about a million years ago, and I don't recall giving any ID at the time!

Still, yeah, to reitterate, you want the 'visa debit card' (which is what I got as standard with lloyds tsb) - it works everywhere, just like a credit-card, but goes direct to the bank account, and costs nothing to own or use.

I don't think i've written a cheque in literally 15 years.

Oh, and by the way, I'd LOVE you to come to Wales, but unfortunately, Wales is closed for the next 6 months

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#f3i2g# Disclaimer: I'm Welsh, left-handed, and stupid. #f3i2g#

Alneyan
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Free cards eh? That's crazy! I'd have to fight my way to get a card working on the Internet here, and I'd then pay for a nice little amount of money a year to retain the thing, plus miscellaneous fees every here and now. Fun.

I'm afraid I won't be shipped in Wales. I mean, I did ask for a city; it's not like there was a lot of these around in Wales. That, and I gave priority to 'put me in a city and not on a remote island two hours away from the mainland'.

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[Last edited by Alneyan at 04-14-2007 10:33 PM]

jamie
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Hmmm, so, even the French don't trust the French, huh ??

IT'S A JOKE!!!!!!!!!!! WAAAAAAH

I got my bank account 18 years ago or so, when i became a student, along with the afore mentioned debit card, and a credit card.

But the visa-debit card is standard for any old bank account.

A few years ago I signed up for an MBNA card, because it was free, and they sent you free bottles of wine to register.

In total, my credit card spending limit is about £70,000 (!) Go figure!

What is this "shipping out" you speak of ? I forget... Do they let you choose which prison you go to now ? ;-)

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#f3i2g# Disclaimer: I'm Welsh, left-handed, and stupid. #f3i2g#

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[Last edited by jamie at 04-15-2007 01:45 AM]