[Dracophoenix]

> If nothing else having to do more paperwork is very common. British banks tend to not open accounts for people abroad because of the cost of KYC, and they even close accounts if you move abroad.

How are their so many non-dom retirees if that's the case? They have to have some sort of income.

[jdietrich]

As patio11 made abundantly clear in his article, banks are not homogeneous in their preferred customers, their ability to serve specific needs or their tolerance for risk. It may well be true that some banks don't like non-resident customers, but many banks offer products specifically tailored for these customers.

https://www.expat.hsbc.com/international-banking/products/ba...

https://www.santanderinternational.co.uk/international/produ...

[graemep]

Not any non-resident customers. You need to deposit £75k or more with them or have an income or over £100k.

i.e. you need to be far better than a British resident customer to cover the extra KYC costs (its less automated if you are abroad).

People have had accounts closed: https://www.telegraph.co.uk/money/banking/barclays-to-debank...

[graemep]

The term "non-dom" usually means foreigners in the UK making use of the tax dodge. In that case, British banks are happy to open accounts for them, especially as they are rich.

Some accounts will be opened for other foreigners in the UK - sometimes the "basic" accounts .

Lots of British people who have retired abroad on more modest incomes have had their accounts closed: https://www.telegraph.co.uk/money/banking/barclays-to-debank...