Offshore banking

I have recently changed my UK bank to Lloyds TSB offshore based in Jersey, but find I have trouble transferring funds there. You cannot do a standard EU transfer as Jersey is not in the EU. The alternative is to do an international transfer which costs more and takes longer.

Has anyone else has this experience and does anyone have any advice?

Many thanks
Aidan

Did you keep your UK account open ? If so just transfer into that and then write yourself a cheque.

Sadly no, I decided to keep the Offshore account as my main account not realising the anomaly about Jersey.

My advice to anyone would be never close a UK bank account, just keep a few pounds in it and leave it as a dormant account as it's so difficult now to open a UK account in advance if you decide to move back there.

Do you have a relative in UK who could act as a third party perhaps?

Or you could compare the cost of International transfer between the banks here. Someone told me the Postbank is cheaper but that's only heresay.

I was told that it's illegal to have an offshore bank account while being resident in Germany.

Can anyone confirm this?

You are allowed to open off shore accounts but don't forget to pay your taxes on the interest ...