banks and their system in London??

I

Ibiza-girlie

New Member
what the funk is up with the banking system in UK? its virtually impossible to get a regular bank account!i was like....what? i need a job first, when i move (which im sorting out as we speak) then i need an approval from my employer, and after that i need to GO t othe bank with that letter to open an account in the first place! what the hell are they afraid of. can osmeone explain?
also: what does a travel card cost you for a month from zone 5 - 1 ?
 
I know... it's a nightmare. I tried to open an account when I was in London this month... just thought it would be good to cut down on currency risk by putting some of my savings in pounds.

No way... you need proof of address (like a utility bill) and that address has to be in the UK. I have a friend that moved to the UK from here and she said it took 6 months to open a bank account.

It's easier to open an account in Russia, the natural habitat of the bureaucrat, than it is in the UK :?
 
but what the funk do people do with their wages?
if i get a job, will they wire the money to my danish account?
what can i do, its rediculous!!!!!
 
Morbyd said:
I know... it's a nightmare. I tried to open an account when I was in London this month... just thought it would be good to cut down on currency risk by putting some of my savings in pounds.
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Do you get paid in GBP? If not you will still have to buy GBP, then why can you not keep an account in the US? Do the UK banks have a something similar to the FDIC insurance that we have here? As Popeye would say, "Edumacate me". :D
 
Ibiza-girlie said:
what the funk is up with the banking system in UK? its virtually impossible to get a regular bank account!i was like....what? i need a job first, when i move (which im sorting out as we speak) then i need an approval from my employer, and after that i need to GO t othe bank with that letter to open an account in the first place! what the hell are they afraid of. can osmeone explain?
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Something to do with new laws brought in since September 11th, banks have to be much more careful as to who they give an account to now as they can get in serious trouble if they are not seen to be hard enough on money laundering, etc
 
James - exactly. I was told the strict rulles are in relation to money laundering laws. Still, I think the UK has got to be the only place where you have to beg and plead for someone to open you a bank account.

Laguna - I get paid in rubles, but then immediately transfer it into a dollar-denominated account. Generally, when you transfer money into an account denominated in a different currency, the banks do a currency exchange transaction in the process of making the transfer.
 
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