Moving overseas with international bank accounts, savings and investments
Whether you're moving overseas with your job, to retire, or simply to immerse yourself in another culture, there are a lot of issues to consider when organising your move overseas.
You'll need to consider everything from buying property overseas to, well, stopping the milk at home. Moving abroad is not something one usually does on a whim.
As far as the financial implications of your move overseas are concerned, Barclays can help. From years of experience we are familiar with many of the issues people face when moving overseas, and are often able to turn these into opportunities.
For example, moving home may mean your normal bank account lacks the means to deal with things like moving money overseas. So we could set up an offshore bank account for you, allowing you to manage your financial affairs across international borders.
Depending on your needs and circumstances, Barclays may be able to offer you:
- Offshore savings and investment products
- Loans (subject to application and status)
- Access to our International Telephone and Online Banking service
- Day-to-day banking facilities for those living or working abroad
If a move overseas is part of your future, let Barclays international banking start helping you today.
Bank accounts for expats
Barclays offers a number of bank account options for UK citizens moving overseas:
- Relationship Manager Service. A fee-free personal, tailored solution designed to help our clients maximise their wealth. A dedicated Relationship Manager will take the time to get to know you, in order to understand your circumstances and help you achieve your financial aspirations. The service is aimed at clients with balances of £50,000 or more (or currency equivalent) to place with Barclays international banking, or for clients who have come to live in or are moving to the UK, an annual individual gross income of £150,000 or more to mandate to a Barclays international bank account. Click here for more information.
- iBank. Our entry-level international banking service offers day to day banking facilities and a savings account plus access to a range of financial products and services, available for just £10 (US$16.50 or €14.50) a month. See our tariff for details of the iBank fee in other currencies.
Click here for more information.
All of our international banking options allow you to choose from:
- Day-to-day banking in a range of currencies
- Debit cards
International offshore Banking
If you are moving overseas you can open an offshore account with Barclays international banking. This has the potential to benefit you in the following ways:
- Potential tax planning opportunities. Normally, your interest will be paid gross of tax, so your savings will grow more quickly. You may be required to pay tax in the country you move to1.
- Safety. As your savings and investments are held in a stable political and economic environment, any risks are minimised.
- Flexibility. Accounts in a wide range of currencies allow you more flexibility in the management of your financial affairs. It's also easy to make international money transfers.
Working abroad - things to consider
Each year, thousands of people start working overseas. Many will go as part of a job relocation. Others will be realising their dream of setting up business in a new country. A significant number, however, will return home, disillusioned, earlier than planned.
If there's a common denominator to these cases, it's often a lack of planning. That's why you need to look at every aspect of your move. Your destination, obviously, but also your own motivations and requirements. Are you confident that a few foreign phrases will let you 'get by', or should you become more fluent? Will you be able to embrace cultural differences? Do other members of your family share your enthusiasm?
The more you can anticipate issues and plan how to resolve them, the more likely your move overseas will be enjoyable, memorable and fruitful.
Barclays international banking can help by providing you with a handy checklist of things to do before the move as well as a free comprehensive Country Guide.
International bank transfers - FX services
You can depend on Barclays to offer attractive exchange rates between currencies. When you do need to transfer money, Barclays payments make the process fast, safe and simple.
- Make payment instructions online, by phone, fax or post, or at a Barclays branch
- No minimum transfer amount (maximum £50,000 for online transactions)
- Choose from a range of major currencies
- Making international payments to and from the UK can be made at your convenience via online banking
1 You have sole responsibility for the management of your tax and legal affairs, including making any applicable filings and payments and complying with any applicable laws and regulations. We have not provided and will not provide you with tax or legal advice and recommend that you obtain your own independent tax and legal advice tailored to your individual circumstances.
† Lines are open 24 hours a day, 7 days a week except for 25 December when the lines are closed. Call costs may vary - please check with your telecoms provider. Calls may be recorded so that we can monitor the quality of our service and for security purposes.
The products and services described on this page are provided by the following companies, which are part of Barclays: Barclays Bank PLC in London and Barclays Private Clients International Limited in the Isle of Man, Jersey and Guernsey. For further Information on these companies and Barclays please read the Important Information.
Products and services on this site may not be available in certain jurisdictions. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding. Each Barclays company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.