Finding the right banks for Canadian expats is important for ensuring the safety and security of one’s finances while living and working overseas, particularly the UK. Banks perform a number of roles and functions on one’s behalf, often providing critical support for savings and credit. If you are moving to the UK, you’ll be glad to know that you have a number of reliable banking options to choose from. Here are some of them:
The Lloyds Group is easily one of the most recognizable banking institutions in the UK and one that may be very familiar to Canadian expats. Lloyds TSB is a retail bank with a wide-ranging network of ATMs and branches in the UK, so finding one in the city where you live should not be a problem. The great thing about Lloyds TSB is that you can create an account in a local branch while still in Canada and enjoy all the benefits of a reliable banking network when you are in the UK.
Lloyds TSB International offers competitive interest rates and a choice of having your current accounts in Euros, US Dollars or Pound Sterling. That way, you can take advantage of any fluctuation in exchange rates. With a Lloyds TSB bank account, you have 24/7 access to online and telephone banking services. The bank does not charge fees on ATM use and for moving money from one currency to another provided the transaction is done within your account.
Nationwide International is based in the Isle of Man and has earned its reputation as a reliable banking option for Canadian expats. It even earned the 2013 Overall Best Offshore Bank for Expats award from Nexus Expatriate newsmagazine. The consumer-friendly interest rates, stellar services and solid handling of accounts has helped Nationwide earn this honor.
ALIL is a joint winner in the category for best overall offshore bank for expats awards by Nexus newsmagazine. The bank earned this distinction with its competitive interest rates and easy accessibility of accounts for consumers. One of its most popular products is the e-Saver Offshore range that offers high efficiency and easy accessibility for depositors. Opening an eSaver account can also be completed and managed online – no forms to fill out or documents to print.
Another offshore banking option that expats may want to consider is Skipton International. Skipton prides itself in being able to proactively provide products that meet the special needs of expatriates, considering that living overseas has its own unique demands and approaches. Skipton offers excellent accessibility and flexibility to consumers who use their deposit and savings services, and offers assistance for tax planning and retirement. It is one of the best banks for Canadian expats who want the full spectrum of services that can help them build and secure their finances overseas.
If you are a Canadian who just moved to London, and are looking for the best banks for canadian expats, we at Canuck Abroad can help you. We have a wealth of resources that can male life abroad easier.