Moving abroad means juggling two banking systems at once, usually at the exact moment you're also juggling flights, removals and a landlord who wants a deposit by Friday. Get the order right and it's painless. Get it wrong and you can end up unable to pay rent in one country while your salary sits in another.
Should you keep your UK account?
For most people, yes. A UK account keeps direct debits, pensions, rental income and your credit history ticking over, and it makes coming back much easier. The catch is that some UK banks restrict or close accounts for customers who live abroad, especially if you no longer have a UK address.
- Tell your bank you're moving and ask outright whether you can keep the account as a non-resident.
- Update your tax residence when asked. Banks report account details to tax authorities under international information-sharing rules, so this isn't optional.
- Keep a UK address for post if you can, but don't pretend you still live there.
International and offshore accounts
Several banks offer accounts designed for expats, often based in Jersey, Guernsey or the Isle of Man. They can hold several currencies and work from anywhere, but they usually ask for a minimum balance or income. Multi-currency apps are a cheaper alternative for everyday spending and transfers, though they don't replace a proper local account.
Opening an account in Dubai
UAE banks will normally want your passport, residence visa, Emirates ID and a salary certificate or employment contract. In practice this means you'll be sorting your account a few weeks after you arrive, once your visa is stamped. Some banks set a minimum monthly salary for certain accounts, and many employers have a preferred bank that can speed things up.
Opening an account in Spain
Spanish banks offer non-resident accounts you can open before you move, which is handy for paying a deposit or utility bills. You'll need your passport and NIE, and possibly proof of income. Once you're resident, you can switch to a resident account, which is usually cheaper. Watch the fees: some accounts charge monthly unless you pay in a salary or pension.
Moving the money itself
Avoid sending large amounts through your high-street bank without comparing rates first. The difference between a poor exchange rate and a good one can run to thousands on a house deposit, which is a lot of tapas. Our guide to moving money abroad explains how currency specialists and forward contracts work.
A simple order of play
- Talk to your UK bank before you go.
- Open a non-resident or international account if you need one early.
- Open your local account once your visa or NIE is sorted.
- Move larger sums through a regulated currency specialist.
Next steps
If you're moving a significant sum or need help setting up accounts on both sides, Expat Confidant can introduce you to a vetted, FCA-authorised currency specialist.
This guide is general information, not financial advice. Bank policies vary and change, so check with each provider.