Resignation and bank accounts | ExpatWoman.com
 

Resignation and bank accounts

193
Posts
EW NEWBIE
Latest post on 16 May 2018 - 19:01

Dear all,

I was wondering if anyone could give me their insights in the following:

What happens if I resign while having a bank loan? I am planning to resign but between my current and new job I will be travelling.

I am worried that I will face issues when exiting/ entering the country.

I would appreciate your thoughts and experiences.

Thanks a lot.

193
Posts
EW NEWBIE
Latest post on 23 May 2018 - 11:26
You're very welcome :) good luck!!
Thanks Haim! :-)
420
Posts
EW EXPLORER
Latest post on 23 May 2018 - 11:22
Hi Haim, That is a great idea about the grace period. I will see if my employer will be so kind to do it. I just want to be prepared for all scenarios just in case. :-)
You're very welcome :) good luck!!
193
Posts
EW NEWBIE
Latest post on 21 May 2018 - 13:43
Hi Haim, That is a great idea about the grace period. I will see if my employer will be so kind to do it. I just want to be prepared for all scenarios just in case. :-)
420
Posts
EW EXPLORER
Latest post on 20 May 2018 - 12:34
I'm pretty sure that companies should provide a grace period - is it 3 months? Check with your current PRO... I'm almost certain that they can keep your visa open to help you with the process of changing jobs, and if it's only 2 weeks for you, then it shouldn't affect your residency if you travel
193
Posts
EW NEWBIE
Latest post on 19 May 2018 - 10:23
Regarding the letter from your employer, was it an official contract or only a letter? Thanks again.
193
Posts
EW NEWBIE
Latest post on 19 May 2018 - 10:22
I am going through a similar situation. I spoke with my account manager and he said that the bank will freeze your account if you have a loan as soon as they are notified of your visa cancellation...
Thanks for your comment Alison. I believe the best scenario is to either have a new visa before travelling or ask my employer to keep my Visa till when I get back. Even though it is just for two weeks, I am fairly reluctant to travel without the residency visa. Regarding the bank, I didn't know they would be notified when the visa is cancelled. I was under the impression, only when the final settlement is paid, they will be notified. In any case let us keep each other posted as I feel this is still a grey area and not very clear.
199
Posts
EW NEWBIE
Latest post on 16 May 2018 - 23:02
I am going through a similar situation. I spoke with my account manager and he said that the bank will freeze your account if you have a loan as soon as they are notified of your visa cancellation. To avoid this, you can submit a letter from your new company stating that your salary will continue to be paid into your account, I cannot, however, comment on what immigration might do if your account is frozen and you try to leave,
 
 

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