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View topic - Setting up a UK Bank Account - Exclusive!

Setting up a UK Bank Account - Exclusive!

For Canadians living / traveling in the UK
CanuckAbroadSite Admin
{ AUTHOR_TOPIC }
Posts: 550
Joined: Tue Mar 04, 2003 7:00 pm
Location: Victoria

Setting up a UK Bank Account - Exclusive!

Post Fri Jun 26, 2009 11:48 am

Opening a UK bank account seems to be a topic of choice in the forum so to make it easier we at CanuckAbroad have talked to the leading UK bank and are able to organize a UK bank account for you before you leave Canada so that it can be set up and waiting for you when you arrive in the UK.

We’re working with Lloyds TSB, the largest UK bank, who have just set up offices in Canada helping Canadians to open their UK bank accounts before they leave Canada.

They’ve listened to the concerns raised in the forum and have come up with an easy method for you to open an account with them before you leave Canada.

To set up a UK bank account with Lloyds TSB or for more information, you can contact them directly at their Toronto office through the following methods:

Lloyds TSB International – a division of the Lloyds Banking Group
North American Representative Office
865 South Figueroa Street, Suite 2690
Los Angeles, California
USA 90017

Telephone: (+1) 213 443 4097
Fax: (+1) 212 479 2839
Email Lloyds TSB

They can use your Canadian ID, Canadian proof of address and current Canadian bank statements. That’s it. That’s all they need, along with a completed application form. The account will take about 1-2 weeks to set up but if you have time we’d advise that you allow 3 weeks to ensure that you receive your debit card before you go.

Overview of the account

The account is a fully functioning UK bank account and will allow you to do day-to-day banking such as use ATMs, use your visa debit card, make direct debit payments, pay bills, access over 2,000 branches and anything you usually do with your chequing account.

With the account you’ll receive:

• Debit card
• Cheque book
• 24 hour telephone banking
• 24 hour internet banking
• Option of up to three currencies – sterling, euros and US dollars
• Function to move your money between currencies any time you want
• No ATM fees
• No fees for moving your money between currencies within your International Account


How do I open a bank account?

Simply download the application form, fill it in and post it with the documents to to Lloyds and they take care of the process for you.

What do I need to provide

They only need three documents from you to open the account, and can use your Canadian documents:

The documents you will need to provide to open the account are:

• Photo ID (Passport or Driving License)
• Proof of address (Utility Bill, not cell phone, or drivers license if not used for ID or bank statement)
• Last 3 months worth of payslips or 6 months worth of bank statements


Do I need to provide the original documents?

You need to provide a certified copy of the photo ID as the person will need to verify that you look like your photo. You can either provide the original bills and bank statements or certified copies.


How do I certify a copy of a document?

You need to take your original document to one of the people on the list below. They need to make a copy, stamp it, sign it, date it and include the phrase

‘I have seen the original document, I have met the individual and I certify that this is a
complete and accurate copy of the original.’

The following people can act as ‘certifiers’:

• Lawyer, Notary Public or Actuary who is a
member of a recognised professional body
• Accountant or Tax Adviser who is a member of
a recognised professional body
• Serving Police or Customs Officer
• Member of Judiciary
• Senior Civil Servant
• An Embassy, Consulate or High
Commissioner of the country of issue of the
documentary evidence of identity
• Director, Officer or Manager of a regulated
financial services business (e.g. Bank Manager)
operating in an equivalent
jurisdiction to the UK*

Can I submit online bank statements

Yes you can

Do I have to be in the UK to set up an account?

No. You can set up your bank account right here from Canada before you go. Lloyds TSB have opened up offices in Canada to help Canadians moving to the UK and have made the process simple, quick and painless.

How long will the form take me to fill out?

On average it takes about 10-15 minutes to fill out completely.

When will I be able to start using my account?

If you have received your debit card and transferred funds into your account you will be able to use your account as soon as you land in the UK.

How long will it take for my account to be opened?

Usually this process takes between 1-2 weeks, but if you can it’s better to allow 3 weeks just to be safe.


Is there a fee for opening the account?

Opening the account is free.

The first three months are free.


After three months, there will be a small monthly payment of 7.50 pounds, which will be debited from your account.

Is it extra to add on the Euro or US Dollar part?

No, it’s included in the 7.50 pounds monthly payment. However, they will want to know why you want the extra account and debit card e.g. traveling around Europe.

What do I get for my 7.50 pounds a month?

For 7.50 pounds a month you get:

Debit card
Cheque book
24 hour telephone banking
24 hour internet banking
Option of up to three currencies – sterling, euros and US dollars
Function to move your money between currencies any time you want
No ATM fees
No fees for moving your money between currencies within your International Account
Discount on travel insurance
Discount on priority pass
Sentinel card protection
Access to tax advice
Option of collecting Airmiles

Can I speak directly to Lloyds TSB in Canada?
Yes you can – the number to call is 416 572 2144. Tell them you've been reading about this on CanuckAbroad.com

I’m going to the UK in less than 2 weeks can I still open an account before I go?

Yes you can – Lloyds can send your debit card to an address in the UK provided it’s not a hostel or hotel. If you are going to stay at a hostel or hotel, they can send your debit card to a Lloyds TSB branch near where you’re staying.

Where is my account held?
Your account is held in the Isle of Man and is classed as an offshore account. The Isle of Man government protects your money up to the value of 50,000 GBP

Can I go to any Lloyds TSB branch in the UK?
You can – you will need to take your debit card or have your sort code and account number with you.

Are there any ATM fees?
No there are not. You can use any major bank’s ATM in the UK fee-free.

How do I pay money into the account?
You can either post a cheque to the Isle of Man where your account is held or you can wire transfer money from your Canadian bank account to your Lloyds account. Wire transfers are the quickest method and only take a couple of days for the funds to be in your account. Cheques have to clear and can take up to 6 weeks to do so as they have to be sent back to Canada for final clearing.

When you’re in the UK, you can get paid directly into the account and can deposit cash over the counter at a branch, just make sure you have your sort code and account number.

I’m moving with my boyfriend/girlfriend/spouse, can we open a joint account?
Yes you can – there is space for two applicants on the form.

Do I need a minimum amount to open the account with?
Once the account is opened you will need to deposit a minimum of 1500 pounds within the first 6 weeks.

Do I have to keep the bank account for a certain amount of time?
No. You are not contractually obliged to keep the account for a certain amount of time. You are charged a monthly fee which will stop whenever the account is closed.

What if I have more questions when the account is opened?
You can call telephone banking 24 hours a day, 7 days a week and they will be able to answer questions about your bank account.

What does offshore mean?
Very simply, it means that your account is held off the shore of the UK, in the Isle of Man.

Once again, to setup this account and for more information, email them
heymikeyCanuckAbroad Regular
Posts: 34
Joined: Fri Feb 13, 2009 12:13 am

Re: Setting up a UK Bank Account - Exclusive!

Post Mon Jun 29, 2009 10:06 am

7.50 pounds a month?!?

Is there a way to waive that fee? For example, with TD Bank here in Canada, if you constantly have a set amount of money in your account, they will waive the monthly fee. Is there something similar to Lloyds?
CanuckAbroadSite Admin
{ AUTHOR_TOPIC }
Posts: 550
Joined: Tue Mar 04, 2003 7:00 pm
Location: Victoria

Re: Setting up a UK Bank Account - Exclusive!

Post Mon Jun 29, 2009 10:14 am

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