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I need advice with banking and insurance

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parmas91
9/15/2016 00:34 EST

Hi Guys

Im a 25 year old male from Australia moving to Scotland next month. I have a job lined up, my visa is all sorted, I even have a few housing inspections keyed up, but I dont know much about banking over seas and travel insurance. Could you guys help me out with this? With the banking, I believe I need to set up a bank account in the UK. What is generally the best bank for expats? As for travel insurance, I've already paid the IHS cover charge for my time in the UK, could you point me in the direction of any good travel insurance people companies, or is it better and/or easier to get insurance over over seas?

Thanks guys, hope you can help me out.

OldPro
9/15/2016 11:36 EST

You haven't made it clear if this is intended as a permanent move or a temporary stay. It matters.

If you are going for a year or two on a WHV for example and will have no significant amount of funds that you intend to transfer from Australia to the UK, you will no doubt be asked for proof of residence (rent receipts, utility bills, etc.) before you can open a bank account.

If you plan to open an account with a $100k transfer of funds from Australia to start with, miraculously the requirements change. LOL

Insurance requirements also differ depending on whether you are moving permanently or not.

https://www.comparethemarket.com.au/travel-insurance/guides/a-simple-guide-to-the-uk-working-holiday-vis
Covers WHV issues.

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