UK Bank Accounts / Widening the Group

  • margaretta
  • 22/11/08 31/05/09
  • a depositor
  • Offline
Posted: Fri, 28/11/2008 - 15:42

Expats are a very wide and potentially influential group that go well beyond people who have put money in kaupthing. Some of these people while possibly privately sympahising wth the plight of those in Kaupthing might be under the mistaken impression that they are not/will not be affected. Possibly becuase they have some if not all of their money in 'safe' UK mainland bank accounts.

I also have money in UK mainland bank accounts since it was not imposibly difficult for me to open them using the UK address of my parents which prior to going overseas was my own address. (Once you have one bank statement with a UK address you can pretty much open any amount of UK bank accounts using a statement from the other). During the opening process for these accounts I had to state on the application that I was resident in UK, so I did.

Have any of the tens of millions of expats who have done something similar stopped to think it through? i.e. In the case that any or all of these banks go Kaupthing Up how sure are you that the FSA compensation scheme will extend to people who have been economical with the truth about their residency when opening the account? With the present Junta in power in UK I suspect there is a significant risk that you can kiss it all goodbye.

Is it possibe to expand communication to more fully encompass all exapts? Like us Kaupthingers I doubt if they too can be overly happy about not being able to legally open UK bank accounts due to the Labour Party's terror of losing an election laws.

Alternatively maybe we could offer a prize for finding those weapons of mass destruction. There are bound to be thousands of expats who would be willing to have a quick look in the countries they are working in, if only for a laugh. Maybe with some photos of potential finds.

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