If you move abroad after opening a TB savings account are you allowed to keep the account open while overseas? Some banks force Brits who move out of the country to close down their accounts.Also, can such a customer do Tesco Bank online banking from abroad with no issues? Are there any restrictions?Thanks.
You can change your address for your accounts to an overseas address. For the most part, all of your accounts can still operate while overseas, although they will all be in sterling. The only accounts that can be restricted are ISAs. They can remain open if you move, but you wouldn't be able to pay in new funds.
As for online banking, you can keep using the website overseas, but our system isn't always able to send access codes to overseas mobiles, so it may be worth keeping a UK number to hand for any security codes we may need to send.
To find out more and to update your details, you can find the contact details for our departments here.
ScottW, many thanks - so I take it that customers who move overseas can only continue with their already existing accounts? They wouldn't be able to open any new ones, like fixed term savings accounts etc? I knew about the ISA restrictions.
Hi there,Would i be allowed to keep my excisting accounts(fixed rate saver and 2 current accounts) ,whilst living abroad and receive the interest each mth online as per usual?- I also intend to open a 5 year fixed rate saver before leaving to move abroad --any advice would be much appreciated( also wondered if the interest is still tax free whilst living abroad(poland)-kind regards andrew
Hi , thanks for getting in touch and thanks for your questions! You'd be able to keep your savings accounts open, but when the accounts mature, you'd be unable to reinvest the principal amount and the accounts would need to be closed. Interest would still be paid as normal.
As for current accounts, they need to be closed within six months of moving out of the UK, this is covered in your account terms and conditions. In terms of tax on interest, you can find out more information here.
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EmployeeHi @northerner
27-09-16 03:59ScottW, many thanks - so I take it that customers who move overseas can only continue with their already existing accounts? They wouldn't be able to open any new ones, like fixed term savings accounts etc? I knew about the ISA restrictions.
ScottW
