Bank Account CSG deals with the world's largest banking and financial organisations, and are dedicated to making banking as easy as possible, no matter where you are. Opening a bank account in the UK can be a lengthy and difficult process. Don't expect to walk into any bank and open an account as easily as you could in New Zealand. CSG have developed a package in conjunction with the Thomas Cook Foreign Exchange to help you establish a financial base in the UK. HSBC Group is one of those arrangements made between us and Thomas Cook, for New Zealand citizens going to stay in the UK to open HSBC Bank Accounts at the Regent Street branch of the bank in London. If you take advantage of this service, no matter where you are in the UK, you will be able to use your account through a national network of cash machines, as well as through your cheque book and HSBC Debit Card. This branch has been chosen especially for its prime location London's bustling West End, and for its close proximity to two of the city's leading stations on the underground network: Oxford Circus and Piccadilly Circus. Bank accounts are subject to the bank's normal credit criteria. A bank fee of $80.00 is made for this service.     Money To live in the UK is more expensive than living in New Zealand. The purchasing power of the New Zealand Dollar ($) is different to that of the UK pound (£). The $ you saved to get the UK are likely to disappear quite quickly. It is important that you earn £ as soon as you can so that you have comparable purchasing power. Check out the exchange calculator for an estimated value of your savings. As a general rule, you should over-estimate. rather than under-estimate the cost of living in London, especially in the first few weeks your costs or living should include as a minimum, accommodation, transport and of course, general living costs to buy food, clothing, entertainment, etc. Costs can generally be quite expensive for any or all of these items. If you are on a tight budget, entertainment may need to be sacrificed. It should be noted that pay days are normally monthly in arrears. The cost of eating out varies and there are many varieties of restaurants available in a range of price bands that include Chinese, Thai and Indian restaurants. These are plentiful and provide particularly good value.     Taxes You will be best to contact us so that CSG can direct you to a specialist in the tax area. Be expected to meet your taxes whilst in the UK. Like New Zealand, the tax system for employees is a PAY AS YOU EARN system. That means that if you are an employee, your pay will be after tax has been deducted.  Our contacts are professionals in their field and we strongly recommend that you talk to us so that you can get appropriate taxation advice relating to your proposed earnings. Remember that taxation generally is payable in all situations where money is earned. For up-to date tax information check out www.inlandrevenue.gov.uk     Pension schemes Under current UK legislation, every employee is required to be a member of an approved pension scheme. All money deposited to your credit is generally unable to be accessed, even upon your return to New Zealand. For assistance in matters relating to your pension scheme, you should talk to CSG. We have advisors both in the UK and here in New Zealand who can tell you about your options.     Health Care The British National Health Service (NHS) is available free of charge provided that you have a National Insurance number. This covers both dental and medical care. It needs to be remembered though that when you are outside of the UK, you need to provide your own insurance cover CSG can assist you with this Email us here - insurance (at) csg (dot) co (dot) nz     Travel Insurance To arrange travel insurance for your OE go to Capital Financial Services Ltd and complete the form, print it, calculate your premium payable, write the cheque and forward the signed form plus cheque to them. WE RECOMMEND INSURANCE BE COMPLETED PRIOR TO TRAVEL ARRANGEMENTS BEING MADE. - THIS WILL GIVE YOU DEPOSIT / CANCELLATION PROTECTION.