Accounts for US citizens resident in UK


#1

Hi,

I spent a good twenty minutes giving my wife a full-on sales pitch for Starling Bank - really sold it to her! Just as she was showing interest, I realised that as she’s from the USA she isn’t eligible to sign up for an account.

My wife has dual citizenship - she’s from the USA but moved to the UK around seven years ago and is also a British citizen now. Are there any plans to open up Starling for British citizens who also hold another passport?

Thanks,
Dan


#2

I think some dual-citizens can, the problem with US citizens is due to the draconian FACTA legislation and extra-territorial threats of enforcement and financial penalty on non-US financial institutions.


#3

Yeah, I suspected that was the reasoning behind the decision. That said, my wife has a Nationwide account (like me) and most “legacy” banks would welcome her as a customer. It would be great if Starling revisited this decision.


#4

Any update at all on this? I think my wife (and a lot of her friends) would be really keen to switch if Starling opened the doors to those who also hold US passports. Fingers crossed :slight_smile:


#5

Might be worth letting them know about Monzo in the meantime. They’ve supported people that have U.S citizenship since they launched their current account.


#6

@StarlingSupport any news of allowing dual citizenships from US and UK to join starling?


#7

I’ve flagged this thread with the team - we want to look into this further so we can come back with a detailed and informed response. Hopefully we should have an update on this one early next week :smile:


#8

Thanks @Catherine. My wife would sign up today if she could!


#10

I know @sarah.guha posted about this back in October:

US Citizens

I really hope there’s been some progress. Most banks accept those with US tax obligations, including Monzo, but I’d prefer if the missus could sign up here. Look forward to hearing more next week :slight_smile:


#11

having worked in the banking industry for a number of years the big issue is fatca, it largely boils down to in the company wanting to expand into the US as then its a requirement anyway to comply with us rules but otherwise… if not its a giant amount of cost of pain for near zero gain. So for Starling is imagine itll come down to whether they are planning to enter the us market


#12

I know Monzo accept US nationals. Hope Starling will too.


#13

Monzo are accepting them because they are wanting to expand into the US


#14

Right. Back in October Sarah did confirm that accounts for US nationals would come eventually, I just hope it’s done sooner rather than later.

My wife has a Nationwide account and as far as I’m aware they have no US expansion plans.


#15

Hello all,

I have good news, we are now able to accept customers who are US citizens but who are resident in the UK. Tell your wives, friends and family!

As this thread points out under FATCA (Foreign Account Tax Compliance Act) we are required to report for any of our customers who may have tax responsibilities in the US. This means in app when you’ve opened your account you might be prompted to confirm whether you have any tax responsibilities outside of the UK, and if you answer yes and select United States you will be asked to provide your TIN (Tax Identification Number) too. If you have tax responsibilities elsewhere it if your responsibility to report this to us accurately. We will be updating our current account terms and conditions to reflect this change in due course as well.

If you do have a relationship with the United States and a need to send money to and from the States, it is worth noting that your Starling account will be held in GBP and we cannot, at this time, accept incoming payments in US Dollars.

Thanks
Sarah


#16

This is fantastic news @sarah.guha, thanks very much! I have a feeling Starling will have at least one new customer this evening… :slight_smile:


#17

Super awesome news @sarah.guha


#18

Hehehehe! “Super awesome” :rofl:


#19

Sounds really good Sarah. Good to see US people living here can now join StarlIng.


#20

@sarah.guha USD currency accounts next? :wink: automatic exchange hurts… obviously getting payments returned hurts even more.


#21

USD currency accounts will likely be a little further off, but we are exploring ways to be able to receive USD into your GBP accounts. We can’t provide a commitment to a timeframe at the moment however as it does involve discussions with agency (or partner) banks to support this.