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Sterling credit cards

Posted by katja-669393 - Created: 8 years ago
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10 replies (Showing replies: 1 to 10)

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Posted by katja-669393 - 8 years ago

Thank you for this advice. I will take it in spite of my overwhelming desire to close the account and walk up and down Trafalgar square with a placard condemning their poor service.

Many thanks again.

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Posted by johnners-660966 - 8 years ago

Hi again Katja,

I understand your frustration with Lloyds but remember in the UK they are one of the 'big boys' with links to many other well known financial brands - Halifax, Bank of Scotland to name but two. That's one of the reasons why, in my previous post, I suggested running down your account but not closing it. Just let it sit there ticking over you never know when it may come in useful. We did this with our account with the Halifax some years ago (for convenience as they didn't have internet banking at the time, not because of bad service) When we were looking to mortgage a property we had the account and a proven track record with them and this sped up the process considerably. I was told the same would be true if you wanted to apply for a loan for example.

Johnners

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Posted by katja-669393 - 8 years ago

Thanks for the advice...I planned to go back to Uk for couple of months , open an account with a more reasonable bank before closing Lloyds. It is quite clear that lloyds knows how hard it is to bank in England that's why they behave in the way they do. In any other business they would be out of customers in a shot... Banks! Enough said.

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Posted by journo-666338 - 8 years ago

Katja, you don't have to be resident in the UK to have a Sterling Account . You can also have one if you live in Cyprus.

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Posted by johnners-660966 - 8 years ago

Hi Katja,

You may have had a bad experience with Lloyds but I wouldn't close your account. Run it down to the minimum requirements and just keep it ticking over. You never know when you may need such an account and it's easier to start using it again than trying to open a new one.

The banks are more cautious about opening accounts for people who are not full time residents in the same country as the account is based. Off shore accounts are a possibility but as has been pointed out the amount to be held on deposit can be very high.

We have a couple of sterling accounts but they were opened many years ago before the banks tightened the rules to counter the money laundering in the late 90s early naughties.

Johnners

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Posted by pdobbo - 8 years ago

PS I also have a Sterling Notice account, with internet banking I can pay UK bills in Sterling (up to 700 Euros equivalent a day), without huge charges (2.50 euros max). I just do a bank to bank transfer, I can also set up "recurring payments" this way.

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Posted by pdobbo - 8 years ago

I have a sterling American Express card (had it for years), I don't think I needed a UK address, just applied for it using my Cyprus address. I also have a Sterling Barclaycard Visa and Mastercard registered to my Cyprus address. I think that you can transfer any existing UK credit card to your new Cyprus address without a problem.
Having said that, I can't remember the last time I used them, I just use my cards attached to my bank account here (in Euros). I use them for things like Amazon UK, booking family flights etc., and they are accepted all over the world.

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Posted by katja-669393 - 8 years ago

... right, thanks very much ... that would not be very friendly nor helpful to my folks and friends...

The funny thing is that the only reason I want this facility is to pay my accounts over there, to buy stuff for my property over there... all perfectly legal and normal. I just cannot understand why is that made so difficult.

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Posted by katja-669393 - 8 years ago

Many thanks ... appreciate your advice

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Posted by katja-669393 - 8 years ago

Hi Achileas,

I have a sterling account in Cyprus here however it is a savings account. I need a current account as well as a sterling credit card account... that's the problem. I believe for that I need to be resident in Uk...