UK Bank Accounts for Expats Living Abroad
Many British expats find it increasingly difficult to maintain or open a UK bank account once they move overseas. While some banks allow non-residents to keep or open an account, most insist on a permanent UK address. For expats who need to receive pensions, manage UK bills or hold savings in sterling, it’s important to understand which banks and services still make this possible.
Below is a clear guide to the main options for expats living abroad, including traditional banks and online alternatives, along with key details on eligibility, costs and convenience.
1. HSBC Expat / HSBC International
HSBC offers specialised international and expat banking services through its offshore branches, primarily based in Jersey. Accounts are available in sterling, euros or US dollars and come with online banking, debit cards and access to international money transfers. Minimum balances or deposits may be required, and some services carry monthly fees.
Website: https://www.expat.hsbc.com/
2. Lloyds Bank International
Lloyds provides international accounts designed for people living outside the UK. Accounts are available in multiple currencies, and online banking is included. Fees are typically around £5 per month, but these can be waived by maintaining a balance of around £5,000 or more.
Website: https://www.lloydsbank.com/international/
3. NatWest International
NatWest International offers multi-currency accounts that can be opened and managed from abroad. Customers can access their money online and via mobile banking. There is usually a monthly fee of about £8, though premium accounts are available with added benefits.
Website: https://www.natwestinternational.com/
4. Barclays International
Barclays provides international bank accounts with access to sterling, euro and dollar currencies. These are designed for customers who live abroad and need global banking services. Standard UK current accounts usually require a UK address, so expats should apply through Barclays International.
Website: https://international.barclays.com/
5. Santander International
Santander’s international arm offers current and savings accounts from its branches in Jersey and the Isle of Man. These accounts are suitable for expats and international clients, providing sterling and multi-currency options with secure online access.
Website: https://www.santanderinternational.co.uk/
6. HSBC UK (keeping an existing account)
If you already hold an HSBC UK current account, you can usually keep it after moving overseas. Some features, such as lending or overdrafts, may be restricted, but the bank is generally flexible about expats retaining their accounts.
Website: https://www.hsbc.co.uk/international/overseas-account-opening/
7. Wise (formerly TransferWise)
Wise is an online multi-currency account that gives users a UK sort code and account number, making it ideal for receiving sterling payments such as pensions or salaries. It allows you to hold and convert over 40 currencies at low cost. Wise is not a bank, so it doesn’t offer overdrafts or traditional lending, but funds are safeguarded under strict regulations.
Website: https://wise.com/gb/account/
8. Revolut
Revolut provides a digital account with GBP, EUR and USD balances and offers a UK sort code and account number for many users. It’s popular with expats for its low-cost currency exchange and global debit card. Revolut operates under e-money regulations, so it differs from a traditional bank account but is highly convenient for day-to-day spending and transfers.
Website: https://www.revolut.com/
9. First Direct, Monzo and Starling Bank
These are excellent UK online banks, but they generally require customers to have a UK residential address and may close accounts if the holder becomes permanently non-resident. They are best suited for short-term stays abroad or where a reliable UK contact address can be maintained.
Websites:
First Direct – https://www.firstdirect.com/
Monzo – https://monzo.com/
Starling – https://www.starlingbank.com/
10. Ahval and A News (Information Sources)
For expats who wish to keep up with developments in Turkey or other countries where they reside, English-language media such as Ahval and A News provide valuable local coverage.
Ahval: https://ahvalnews.com
A News: https://www.anews.com.tr/
Practical Advice for Expats
- Check address rules: Many high-street banks require a permanent UK address. Always confirm this before applying.
- Expect minimum balances: International accounts often waive fees if you maintain a high balance.
- Understand protection schemes: UK-based accounts are usually protected by the Financial Services Compensation Scheme (FSCS), but offshore accounts follow local rules.
- Fintechs are flexible: Wise and Revolut are widely used by expats because they’re easy to set up and ideal for everyday transactions.
- Retain existing accounts where possible: If you already have a UK bank account, keep it active and use it occasionally to avoid closure.
| Bank / Product | Residency / UK Address Required | Monthly Fee | Minimum Balance to Waive Fee | Allows Long-term Expats / Non-UK Residents? |
|---|---|---|---|---|
| Lloyds Bank International Classic Account | Non-UK residents eligible | £5 (or €5 / US$5) | Maintain £5,000 (or €5,000 / US$5,000) to waive fee Lloyds Bank+3Lloyds Bank+3Lloyds Bank+3 | Yes, designed for living abroad |
| Lloyds Bank International Plus Account | Non-UK residents eligible | £20 monthly fee | Maintain £10,000 to waive £20 fee Lloyds Bank | Yes, higher cost/higher minimum |
| NatWest International International Select Account | Non-UK residents eligible (certain jurisdictions) | £8 monthly fee natwestinternational.com+1 | Fee applies; no standard “waiver balance” shown | Yes, but fee applies |
| HSBC Expat / HSBC International Banking | Non-UK resident / moving abroad product | “No monthly fee if eligibility/balance met” HSBC Expat+1 | Balance thresholds vary: e.g. £100k annual income / savings criteria; for certain savings products £5,000 balance minimum Wise+1 | Yes – specifically expat account |
| Wise (multi-currency fintech) | Doesn’t require UK address in many countries | No traditional “monthly fee” for basic account | No large minimum balance to waive fee | Yes – very flexible for expats |
Notes
- The “Residency / UK Address Required” column indicates whether the product is explicitly marketed for non-UK residents or requires a UK address. Always verify exact eligibility for the country where the expat resides.
- “Monthly Fee” is the fee that applies if the account is held; many accounts will waive the fee if the “Minimum Balance to Waive Fee” is held.
- “Minimum Balance to Waive Fee” shows the threshold at which the monthly fee is not charged. If you cannot maintain that balance, you’ll pay the monthly fee.
- Fintech accounts (like Wise) don’t always operate exactly like traditional UK current accounts (they may lack overdrafts or UK deposit protection) but are very useful for expats for receiving GBP and transferring globally.