Seting up UK Bank account.

R

Rhamnose

Guest
Long time reader first time poster here.

I want to get my SSIA working and decided to invest in a few companies on the ISEQ and FTSE. From posts on AAM Selftrade.co.uk seems to fit my needs well..but apparently I need a UK bank account.Ive been in touch with my bank AIB and they said they cannot do it for me.
Does anyone know if it is possible for an Irish resident to open a UK bank account and what is involved?

Is there any online broker(non-Irish) that does not require a UK bank account?

Cheers!
 
Check out Keytrade.com

You can trade the FTSE. Commission isn't the best, but no annual fee. You also won't have to pay bank charges to transfer money to them since they're in the euro-zone. Application process is very easy.

You can't trade the ISEQ with them though.
 
how do Keytrade hold the stocks - are they in nominee account or in CREST (for UK shares). Also, given the Morrogh debacle, what are the levels of compensation if they go belly up?
 
I think it is via nominee account. They are part of Credit Agricole and are covered by www.protectionfund.be
This would appear to cover you to the tune of 20k for any shares along with 20k for any cash deposits. (max cover = 40k)
 
One more thing,if the shares are held in a nominee account,will dividends still be paid out in full?
Is it worth the while getting a CREST account for small amounts of share trading?
 
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