moving to ireland, how to open bank a/c

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siobhanclare

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hi,

We are in the process of selling our property in Manchester and moving to Mayo. I have heard that I will not be able to open a bank a/c for a while. How am I going to transfer the proceeds from the sale of our current property over. We will be closing our bank a/c here as soon as the sale is complete.

Surely there must be a way to get an a/c open.

I look forward to your replies.

Siobhan Clare
 
i would imagine once you have the fixed address in mayo and get say an esb bill/phone bill you should be fine. that way you can prove that you live where you say you are living. i presume you have id. i was able to open up an account with just id and a bill although some banks require proof of income. i wouldn't know about opening the account before you move though. i can't really see it being that hard. i have heard others mention that they have opened up accounts in the uk yet they live in the republic of ireland. i hope this helps a bit. what do others think?

Alex.
 
Post 9/11 financial institutions have all tightened up their proceedures for opening accounts especially where transfers from one currency to another is involved. I experienced difficulty opening an account in an Irish bank. You may have to go over and spend a couple of days to sort it out face-to-face. In addition to the usual documents (utilities bill with your current address, details of your current bank, passport or driving licence) I also brought a letter from the mortgage-lender (for the house I was trying to purchase) and a letter from the solicitor dealing with probate of my late mother's estate. They were sufficiently reassured by this to open an account for me.

An alternative would be to set up an offshore account or a euro-account (I know Anglo-Irish Bank, for one, do these) into which you can deposit the sterling from sale of your UK property and withdraw in euro at the other end for your purchase. You need to establish with them in advance what their charges are (these accounts may have management costs).

Manchester to Mayo..........sounds exciting!
 
Are you getting a job in Mayo? If so, your employer might be able to introduce you to their bank. Otherwise, a family member may make the introduction.

Brendan
 
Thanks for the information.


I do not have a job yet but I do have lots of relatives living there. Brendan, your saying that I will be ok if my Uncle comes with me? I hope so because I don't fancy travelling having £90,000 in my pocket!!!!!

Thanks again


Siobhan Clare
 
Does your UK bank have any Irish subsidiaries, an reference letter from your UK bank may go help with a subsidiary (or maybe even another bank). I don't know whether Irish banks accept them but where I am a reference letter from a previous bank with details of how long the banking relationship was for and that your accounts were in good standing is helpful.
 
Brendan said:
Are you getting a job in Mayo? If so, your employer might be able to introduce you to their bank. Otherwise, a family member may make the introduction.

Brendan
Click to expand...

Not quite as simple as this anymore, would have sufficed in the 'old days'. Money laundering legislation obliges the financial institution to obtain the following prior to open an account:-

a) photo id, usually driving licence or passport, chances are you'll have one of these.

b) proof of current address (this is probably the bigger issue for you), Not quite clear whether you have a property to move back to in Mayo. If you have and you can produce say a utility bill addressed to you at that address, then you'll be fine. Assuming you haven't, you will have to obtain PPS no from the Revenue Commissioners, get them to post this to whatever address in Mayo (permanent or temporary) and this will suffice as you proof of address.
 
Thanks for all the advice but I am still stuck with the fact that when I sell my property I will have nowhere to transfer my money too.

Bank Manager, I do not have an address in Mayo yet we will be renting when we move over and then look to buy once we have jobs and children settled in school. I have licence and passport, are you saying this is not enough? Are you speaking from experience when you say I need this pps number? I

I would appreciate your help with these questions.

Siobhan clare
 
Ok - here's the workaround.

Open account in Ireland NOW - using your current address in UK (albeit that you are about to sell).

You'll also need passport/driving licence as photo id. Produce utility bill for current uk address. Then when you sell and move to Mayo, just call to your bank to advise of new address.
 
Bank Manager said:
obtain PPS no from the Revenue Commissioners.
Click to expand...

Probably a small point but the revenue do not issue pps numbers, they are issued from the Dept of social, community and family affairs.
 
Joe1234 said:
Probably a small point but the revenue do not issue pps numbers, they are issued from the Dept of social, community and family affairs.
Click to expand...

You're correct - sorry about that..............
 
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