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Opening bank accounts in England
- the prestige of the jurisdiction and the reliability of the banking system;
- the country is famous for a large number of neobanks;
- Banks of England use modern financial instruments;
- representative offices of British banks can be found all over the world;
- if you open a bank account in England, a payment card and a checkbook are issued free of charge;
- British banks are very progressive and constantly expanding the range of their services;
- a thorough check of each client is applied, which ensures an unshakable reputation and non-participation of banks in fraudulent schemes.
If the goal is to open a bank account in England for a non-resident online or remotely, this task is doomed to failure in almost 98% of cases. The fact is that the British banking system strictly complies with AML anti-money laundering regulations, FATCA standards and international banking policies aimed at combating financial fraud. In this regard, British banks are very scrupulous about non-resident clients, apply complicated compliance procedures and cooperate only if they have a long-term visa or permanent residence in the country. Thus, even for a company officially registered in the UK, in which the director is a non-resident, opening an account in an English bank is a very difficult and often impossible task. The situation is similar with individuals who need to prove their residence in England, confirm the legality of the origin of funds, which the bank will definitely request, and personally visit the bank branch. In this case, UK banks can open an account. Opening an account in an English bank online is an advantage available only to citizens of the country.
All British banks can be divided into 3 types: clearing, trading and savings. The most loyal according to the procedure are the last ones. To open a savings account in a British bank, you need to be in England and confirm the sources of income (your wealth). It is also worth remembering that withdrawal limits apply for this type of account.
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