Since there is deafening silence .. wouldn't it be nicer to ask the banks ??Geardownflap20 wrote:Hi,
I'll shortly be moving to Singapore but will still be paid in the UK, so I'll need to move an amount of money each month from my UK bank to an account in Singapore. Is there a simple way to do this that doesn't involve huge sums of money changing hands between me and the bank? We're probably talking about £1,000/month
I've read the threads and if I was wealthier, an HSBC premier account would probably be a solution. Can anyone advise about the Citibank accounts, or any other alternative.
Many thanks,
Geardownflap20
Mate, I'd be more concerned about sorting your tax situation out first. You could end up getting stung both ends or, equally, have some explaining / justifying to do to U.K and SG inland revenue.Geardownflap20 wrote:Hi,
I'll shortly be moving to Singapore but will still be paid in the UK, so I'll need to move an amount of money each month from my UK bank to an account in Singapore. Is there a simple way to do this that doesn't involve huge sums of money changing hands between me and the bank? We're probably talking about £1,000/month
I've read the threads and if I was wealthier, an HSBC premier account would probably be a solution. Can anyone advise about the Citibank accounts, or any other alternative.
Many thanks,
Geardownflap20
However you will still have to pay National Insurance for at least 12 months if you're paid in the UK. I got burned with this last year, and dealt with the issue by insisting on being paid in Singapore (it didn't help that as a contractor I was also paying employers' NI). You also have to register seperately with the NI people.Geardownflap20 wrote:Hi Folks,
Thanks for the advice. I've already talked to the taxman in the uk and sorted out the formalities to not pay him anymore (he's got the message, just hasn't implemented it yet!)
On the money moving front, I will need to transfer just living expenses, accommodation/utilities etc being paid by my company. I'm opening a UK account with Citibank and also a S$ account with them, so I should be able to make local currency withdrawls without incurring a penalty. The rate might not be great, but the relatively small sums involved will not make much difference.
Geardownflap 20
Citibank is your best bet.Geardownflap20 wrote:Hi Folks,
Thanks for the advice. I've already talked to the taxman in the uk and sorted out the formalities to not pay him anymore (he's got the message, just hasn't implemented it yet!)
On the money moving front, I will need to transfer just living expenses, accommodation/utilities etc being paid by my company. I'm opening a UK account with Citibank and also a S$ account with them, so I should be able to make local currency withdrawls without incurring a penalty. The rate might not be great, but the relatively small sums involved will not make much difference.
Geardownflap 20
Citibank zero balance if your salary goes in.matski wrote: Also the bank accounts out here are actually savings accounts, so you get charges for going below $500 and stuff which I don't like the idea of.
Anyway good luck!
'FaeLLe wrote:Citibank zero balance if your salary goes in.matski wrote: Also the bank accounts out here are actually savings accounts, so you get charges for going below $500 and stuff which I don't like the idea of.
Anyway good luck!
You can just walk into any Citibank branch in Singapore and open a GBP account and walk out with an ATM card in 15 mins....
Users browsing this forum: No registered users and 1 guest