Doing overseas banking in the UK has become much more convenient in the digital age. Gone are the days where you had to physically visit a bank branch to manage international transactions and accounts.
Today, there are online banking platforms that enable people to easily conduct international banking and manage finances across borders from anywhere in the world.
How to Do Overseas Banking in the UK?
For UK residents or foreigners living in the UK who have financial needs or interests in other countries, conducting overseas banking has some specific requirements. Here are the basic steps to do overseas banking in the UK:
Open an international bank account
The first step is to open an international or offshore bank account with an institution that supports cross-border banking like Jetonbank. When applying through Jetonbank, you will need basic KYC documents for verification.
Choose the right currency
Decide which currency you want to hold your funds in based on your transaction needs - common choices are GBP, USD, EUR. You can also manage money in multiple currencies via Jetonbank.
Set up online banking credentials
Once your account is approved, you will receive login details to securely access internet and mobile banking portals. Take time to explore all features.
Deposit initial funds
Transfer money from your existing bank or accounts to start using your new international account. Popular options are wire transfers for large amounts and card deposits for smaller sums.
Manage finances on the go
With an internet-only bank like Jetonbank, you can pay bills overseas, transfer funds across borders, trade currencies, invest globally and more directly from your mobile!
Following these basic steps with a trusted partner like Jetonbank makes the process of overseas banking in the UK stress-free and convenient from anywhere.
Which Bank Should I Open an Account with to Do Overseas Banking in the UK?
When looking for a bank to conduct overseas banking from the UK, there are certain important factors to consider like service quality, account features, costs and regulations.
Based on these parameters, Jetonbank emerges as one of the best options for UK residents engaging in international financial activities.
Jetonbank stands out for its fully-digital model which allows account holders to open and manage international bank accounts completely online from anywhere in the world.
Other top reasons why Jetonbank is a great choice for overseas banking include:
- Wide currency coverage and ability to hold funds in currencies like USD, EUR, GBP, CNH and more.
- Round-the-clock access to accounts via secure online and mobile banking platforms.
- No minimum balance requirements or monthly account fees.
- Personal relationship managers for high-net-worth clients.
- Banking license from the Commonwealth of Dominica provides high regulatory standards.
- Fast, low-cost SWIFT transfers to most global destinations.
- Strong security features like bank-grade encryption and two-factor authentication.
- Excellent customer service via phone, email and live online chat.
For overseas banking needs from the UK, Jetonbank's feature-rich digital banking solutions, competitive costs and high security standards make it a top contender compared to traditional brick-and-mortar banks.
Which Bank is the Best to Do Overseas Banking in the UK?
When it comes to choosing the best bank for overseas banking needs from the UK, there are a few front-runners to consider. Here is a breakdown of why Jetonbank tends to be the top choice:
Ease of account opening: Many large UK banks require extensive paperwork and in-branch verification that can be a hassle. Jetonbank allows you to open an account completely online in 5 minutes or less.
Low fees: International money transfers with traditional banks or even transfer services can carry high currency conversion charges. Jetonbank prides itself on ultra-low fees so you keep more of your money.
Global access: Only a digital banking platform like Jetonbank can ensure you have on-the-go access from any country via its mobile app and online portal. Branch-based banks lack this flexibility.
Multi-currency accounts: Having separate accounts in GBP, EUR and USD with Jetonbank removes painful currency exchanges and allows easy management of global finances.
Security: As a fully licensed digital bank, Jetonbank meets the highest security and data protection standards. Cryptocurrencies can also be securely stored and exchanged here.
Customer service: Digital native Jetonbank provides convenient service via live chat, email and phone. Getting questions answered is quick and easy.
For most users, Jetonbank stands out as the top choice for overseas banking convenience and features at an affordable price. It simply does international banking better than any other option.
What are the Requirements to Do Overseas Banking in the UK?
To carry out overseas banking activities in the UK such as opening international bank accounts, a few standard requirements generally need to be met:
Residence proof: You need to provide your current residential address in the UK, such as a utility bill or council tax documentation.
Identity documentation: A valid passport or driver's license will be required for identity verification along with other know-your-customer checks.
Source of funds: Banks may want to understand where your money comes from, so have pay slips or tax records ready if self-employed.
Minimum deposit: Most banks expect at least £1000-2000 as an initial deposit amount when opening an international bank account.
Annual income: Some banks demand £7500 minimum annual income to qualify for certain services.
Address abroad: If you have a foreign property, it helps to provide that address detail as well for tax compliance.
Of course, Jetonbank streamlines all of the above with an quick online application process. Meeting the basic identity and residency requirements is usually sufficient to get started with our international banking services from the UK.
Open Your Overseas Banking Account in the UK with Jetonbank
If you are looking for an easy and affordable way to do all your overseas banking activities from the UK, then opening an account with Jetonbank is worth serious consideration. Here is a quick summary of the process:
- Visit Jetonbank’s website and select "Open an Account"
- Provide your basic details for ID verification
- Upload photos of your passport or driver's license
- Fund your account by bank transfer from your UK account
- Your virtual debit card will be ready in minutes
- Access online and mobile banking to send money worldwide
- Hold accounts in multiple currencies like GBP, EUR and USD
- Take advantage of low fees on transfers and currency exchanges
- Rely on bank-grade security for your finances worldwide
The entire sign up process takes around 5-10 minutes. Then you have an all-in-one digital bank account tailored for overseas needs.
Why look elsewhere when Jetonbank offers the complete package for affordable international banking from the UK? Get started today by opening your account.
Jetonbank has established itself as one of the best options for overseas banking from the UK. It streamlines international transactions, allows global access and provides great value thanks to low fees and multi-currency accounts.
For hassle-free banking anywhere in the world, open your account now with market leading Jetonbank and never worry about overseas banking costs or limitations again.
