Swift Transfers

[Cannyscot]

A few days ago I received an E-Mail from the authority which pays my pension to say that they are no longer prepared to send it to me using the SWIFT system, their bank to my bank. They say that this is because of "very strict U.K. money laundering rules which involve a huge amount of paperwork every time we have to arrange a transfer ". They then made a rather snidy remark about this being " because you live in a place like Thailand". They propose to send me cheques through the mail instead . I am very unhappy about this, partly because of the vaguries of the mail service, but mainly because it takes up to 45 days for a foreign cheque to clear through the bank here ( at least so I am told). You must believe me when I tell that I am not a drug dealer or a terrorist , merely a simple Scottish pensioner! Has anybody else had this problem or have any advice to give me as I am very worried and upset about this.

[smilingjim]

A few days ago I received an E-Mail from the authority which pays my pension to say that they are no longer prepared to send it to me using the SWIFT system, their bank to my bank. They say that this is because of "very strict U.K. money laundering rules which involve a huge amount of paperwork every time we have to arrange a transfer ". They then made a rather snidy remark about this being " because you live in a place like Thailand". They propose to send me cheques through the mail instead . I am very unhappy about this, partly because of the vaguries of the mail service, but mainly because it takes up to 45 days for a foreign cheque to clear through the bank here ( at least so I am told). You must believe me when I tell that I am not a drug dealer or a terrorist , merely a simple Scottish pensioner! Has anybody else had this problem or have any advice to give me as I am very worried and upset about this.

You're lucky your pension provider did it this way - most don't want to know when it comes to Thailand!

I'd suggest having it paid into an offshore account in the Isle of Man or Jersey and withdrawing your money using an ATM card. Most UK banks (including the Scottish ones) now have offshore branches and they come with Internet and Telephone banking.

What you say about cheques is correct and a real hassle.

[JohnC]

Open an account with the Nationwide Building Society and have your pension paid into that, you can then draw from any atm with no charge, you may need a UK nominal address to start with but then opt for paperless statements (internet) and you have no problem.

[sumrit]

Open an account with the Nationwide Building Society and have your pension paid into that, you can then draw from any atm with no charge, you may need a UK nominal address to start with but then opt for paperless statements (internet) and you have no problem.

When I opened a new bank account in the UK last year as well as a UK address every bank I asked also needed a utility bill in my name at that address as proof of address, which is difficult as I live in Thailand and just use my daughters as a mailing address in the UK. I eventually opened an account at the HSBC who accepted my credit card statements as proof of UK address. Does anybody know what proof of address the Nationwide Building Society require?

[JohnC]

Have a look at their customer service website on https://nationwide.custhelp.com/cgi-bin/nat...php?p_faqid=145

[sumrit]

Have a look at their customer service website on https://nationwide.custhelp.com/cgi-bin/nat...php?p_faqid=145

Thanks John, I'll contact them to see if I can do it from here or whether it will have to wait until I go back to the UK to visit the family.

[smilingjim]

Have a look at their customer service website on https://nationwide.custhelp.com/cgi-bin/nat...php?p_faqid=145

Thanks John, I'll contact them to see if I can do it from here or whether it will have to wait until I go back to the UK to visit the family.

Why make life difficult for yourself???If you open an account with Lloydstsb(or similar) in the Isle of Man you have none of these hassles. Just have to prove address in Thailand - utility bill,lease agreement etc.

If you open UK account they won't send ATM cards to you in Thailand.

[topfield]

A few days ago I received an E-Mail from the authority which pays my pension to say that they are no longer prepared to send it to me using the SWIFT system, their bank to my bank. They say that this is because of "very strict U.K. money laundering rules which involve a huge amount of paperwork every time we have to arrange a transfer ". They then made a rather snidy remark about this being " because you live in a place like Thailand". They propose to send me cheques through the mail instead . I am very unhappy about this, partly because of the vaguries of the mail service, but mainly because it takes up to 45 days for a foreign cheque to clear through the bank here ( at least so I am told). You must believe me when I tell that I am not a drug dealer or a terrorist , merely a simple Scottish pensioner! Has anybody else had this problem or have any advice to give me as I am very worried and upset about this.

The ideal solution is to open a N/W acoount and have the pension money paid into it. Then use their debit card to withdraw here.

Of course not everyone is in a position to do this

[andyadam]

They are talking out of their @rse!!!!! If you can prove where the funds originate then there is no problem, however a SWIFT transfer costs from about 17 quid I believe!!!????

All said and done, the NW seems to be the way!!

[Martin_F]

If you talk to the N/W as mention that you live in Thailand then they will not open it.

Open the account over the internet using your daughters address and your current bank account if you get your pension also addressed to your daughtrer it should be easy but it all goes through your daughter.

But you can download statements of the internet very good service.

[Khun Bob]

Nationwide allow you to open a basic account (as do many other uk banks) - this will give you what you want - you will go through the process of being credit scored - wich you will propbably score too low for a visa debit card, overdraft and cheque book - but you dont want that. With respect to address proof - perhaps your daughter can have you added to a utility bill or put entirely in your name - council tax is a good one.

Alternatively if you open a basic account with HSBC Uk which would give you cheap transfers to a Thai or Singapore based account then do withdrwals from their ATM's - only 1 thailand !

Alternatively - get your money into a UK bank account then transfer to a UK paypal account. Have a KBank account, web card credit card and a Thai paypal account. Do transfer from your UK bank account to your UK paypal account, then to yur Thai paypal account then to your KBank account and with draw at there ATM in thailand. This will impose a 2.5% charge on the exchange rate but is good value for transfers below a certain amount...

There may be one more option - the UK post office credit card - if this is in credit I'm not sure of you can do fee free withdrawls from ATM's worldwide - had a post on this topic open for months but there seems to be an uneasy silence on this topic hear - not sure if no one has done it, no one understands what i am talking about or it is being edited out by the TV Stasi (Has TV sold out or what ?)

[topfield]

Nationwide allow you to open a basic account (as do many other uk banks) - this will give you what you want - you will go through the process of being credit scored - wich you will propbably score too low for a visa debit card, overdraft and cheque book - but you dont want that. With respect to address proof - perhaps your daughter can have you added to a utility bill or put entirely in your name - council tax is a good one.

Alternatively if you open a basic account with HSBC Uk which would give you cheap transfers to a Thai or Singapore based account then do withdrwals from their ATM's - only 1 thailand !

Alternatively - get your money into a UK bank account then transfer to a UK paypal account. Have a KBank account, web card credit card and a Thai paypal account. Do transfer from your UK bank account to your UK paypal account, then to yur Thai paypal account then to your KBank account and with draw at there ATM in thailand. This will impose a 2.5% charge on the exchange rate but is good value for transfers below a certain amount...

There may be one more option - the UK post office credit card - if this is in credit I'm not sure of you can do fee free withdrawls from ATM's worldwide - had a post on this topic open for months but there seems to be an uneasy silence on this topic hear - not sure if no one has done it, no one understands what i am talking about or it is being edited out by the TV Stasi (Has TV sold out or what ?)

[topfield]

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

[samran]

topfield, don't you know how to use the quote and reply function? Saves you from posting TWICE for every reply you want to make.

[topfield]

topfield, don't you know how to use the quote and reply function? Saves you from posting TWICE for every reply you want to make.

Thanks for that. It will indeed save much time . Busy with exchange rates this week but hope to learn about this useful quote function this weekend when the markets are shut.

Once again many thanks

[Khun Bob]

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

Yep i missed that one - but to be honest I didnt do the research myself - could have read the T&C's and called to ask. Is a shame as it would have been useful to have an alternative ATM withdrawl to nationwide.

I know it doesnt work for the nationwide credit card - they are quite stiff and expensive over credit card atm withdrawls outside of the UK.

I need to explore the cap one ig24 card (i think that is what it is called) and the hsbc current plus account...

There is an austrialian credit card, that when in credit will allow fee free withdrawls from ATM's but i'm not sure in non aussies can get it...

With respect to the original poster i have thought of some more options :

Open a joint account with your relatives in the UK at nationwide - that way they can pay your cheque in and you can withdraw from an atm in thailand

Allied irish have one of the highest interest paying offshore IOM accounts at the mo. You could send them the cheque and gain good interst tax free then wire (for a very reasonable price) to your thai bank account at a frequency suiateble to you.

Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore.

As a side Nova Scotia bank look interesting but I'm not sure how a non canada resident/citizen can get an account with them...

[topfield]

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

Yep i missed that one - but to be honest I didnt do the research myself - could have read the T&C's and called to ask. Is a shame as it would have been useful to have an alternative ATM withdrawl to nationwide.

I know it doesnt work for the nationwide credit card - they are quite stiff and expensive over credit card atm withdrawls outside of the UK.

I need to explore the cap one ig24 card (i think that is what it is called) and the hsbc current plus account...

There is an austrialian credit card, that when in credit will allow fee free withdrawls from ATM's but i'm not sure in non aussies can get it...

With respect to the original poster i have thought of some more options :

Open a joint account with your relatives in the UK at nationwide - that way they can pay your cheque in and you can withdraw from an atm in thailand

Allied irish have one of the highest interest paying offshore IOM accounts at the mo. You could send them the cheque and gain good interst tax free then wire (for a very reasonable price) to your thai bank account at a frequency suiateble to you.

Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore.

As a side Nova Scotia bank look interesting but I'm not sure how a non canada resident/citizen can get an account with them...

Thanks for that Kun Bob ...very interesting. Can you give a little more info on the card yoiu refered to as ig24 please.

Re Nationwide Credit card you are dead right ...but did you know that a few years back they were also fee free where in credit but changed their terms and conditions ? It was then I stopped using ATM's with them but for hotel bill , car rental payment they are still excellent with same exchange rate as Debit card I believe.

Final comment : you wrote

"Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore."

Again you are on the ball K.Bob ...N/W International do indeed offer almost immediate fee free transfers to and from N/W B.S UK so its worth having an a/c with them also.

Edited February 19, 2007 by topfield

[Khun Bob]

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

Yep i missed that one - but to be honest I didnt do the research myself - could have read the T&C's and called to ask. Is a shame as it would have been useful to have an alternative ATM withdrawl to nationwide.

I know it doesnt work for the nationwide credit card - they are quite stiff and expensive over credit card atm withdrawls outside of the UK.

I need to explore the cap one ig24 card (i think that is what it is called) and the hsbc current plus account...

There is an austrialian credit card, that when in credit will allow fee free withdrawls from ATM's but i'm not sure in non aussies can get it...

With respect to the original poster i have thought of some more options :

Open a joint account with your relatives in the UK at nationwide - that way they can pay your cheque in and you can withdraw from an atm in thailand

Allied irish have one of the highest interest paying offshore IOM accounts at the mo. You could send them the cheque and gain good interst tax free then wire (for a very reasonable price) to your thai bank account at a frequency suiateble to you.

Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore.

As a side Nova Scotia bank look interesting but I'm not sure how a non canada resident/citizen can get an account with them...

Thanks for that Kun Bob ...very interesting. Can you give a little more info on the card yoiu refered to as ig24 please.

Re Nationwide Credit card you are dead right ...but did you know that a few years back they were also fee free where in credit but changed their terms and conditions ? It was then I stopped using ATM's with them but for hotel bill , car rental payment they are still excellent with same exchange rate as Debit card I believe.

Final comment : you wrote

"Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore."

Again you are on the ball K.Bob ...N/W International do indeed offer almost immediate fee free transfers to and from N/W B.S UK so its worth having an a/c with them also.

All I know at the mo is that it is not advertised very much at the mo and you need to be earning over £50K to get it.

Still, see some of my other posts today on the Post Office card as it may be better choice than Nationwide for both Credit Card and ATM withdrawls - which is contradictory to the post i didnt see. Still no one posting actual experince of it use in Thailand though, as far as i am aware...

[malcolminthemiddle]

Don't forget, for an offshore account you need an offshore address if you want interest paid gross.

[topfield]

Hi K.Bob,

Have seen your numerous postings asking about the uk PO's card to withdraw funds here at ATM'S but think you may have missed one reply where someone wrote to say they found a note in the small print which spoke of a rather hefty commission that would apply for such withdrawals in Thailand.

Yep i missed that one - but to be honest I didnt do the research myself - could have read the T&C's and called to ask. Is a shame as it would have been useful to have an alternative ATM withdrawl to nationwide.

I know it doesnt work for the nationwide credit card - they are quite stiff and expensive over credit card atm withdrawls outside of the UK.

I need to explore the cap one ig24 card (i think that is what it is called) and the hsbc current plus account...

There is an austrialian credit card, that when in credit will allow fee free withdrawls from ATM's but i'm not sure in non aussies can get it...

With respect to the original poster i have thought of some more options :

Open a joint account with your relatives in the UK at nationwide - that way they can pay your cheque in and you can withdraw from an atm in thailand

Allied irish have one of the highest interest paying offshore IOM accounts at the mo. You could send them the cheque and gain good interst tax free then wire (for a very reasonable price) to your thai bank account at a frequency suiateble to you.

Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore.

As a side Nova Scotia bank look interesting but I'm not sure how a non canada resident/citizen can get an account with them...

Thanks for that Kun Bob ...very interesting. Can you give a little more info on the card yoiu refered to as ig24 please.

Re Nationwide Credit card you are dead right ...but did you know that a few years back they were also fee free where in credit but changed their terms and conditions ? It was then I stopped using ATM's with them but for hotel bill , car rental payment they are still excellent with same exchange rate as Debit card I believe.

Final comment : you wrote

"Personally nationwide is the best route (for the fee free atm withdrawls in thailand) and you could explore nationwide offshore too - not the best interest but you can doo free transfers between on shore and offshore."

Again you are on the ball K.Bob ...N/W International do indeed offer almost immediate fee free transfers to and from N/W B.S UK so its worth having an a/c with them also.

All I know at the mo is that it is not advertised very much at the mo and you need to be earning over £50K to get it.

Still, see some of my other posts today on the Post Office card as it may be better choice than Nationwide for both Credit Card and ATM withdrawls - which is contradictory to the post i didnt see. Still no one posting actual experince of it use in Thailand though, as far as i am aware...

.....................................................

Hi K.Bob,

That IG24 card you refered to...did a google search on it and found nothing. Plse check your spelling of this card and confirm its exact name and who issues it.....many thanks

By the way some new info for non UK taxpaying UK expats who use the N/W Debit card in Thailand.: they should keep their spare cash with N/W International Isle of Man ! Why ? Almost instantaneous free transfers to N/W BS and thus to Thailand using your Debit Card. They revealed they have a terminal in Douglas which permits immediate transfers.

However it is not as quick the other way...2 days probably because of UK tax regs trying to keep the onshore UK pounds separate from the offshore pounds.

[Khun Bob]

Hi K.Bob,

That IG24 card you refered to...did a google search on it and found nothing. Plse check your spelling of this card and confirm its exact name and who issues it.....many thanks

By the way some new info for non UK taxpaying UK expats who use the N/W Debit card in Thailand.: they should keep their spare cash with N/W International Isle of Man ! Why ? Almost instantaneous free transfers to N/W BS and thus to Thailand using your Debit Card. They revealed they have a terminal in Douglas which permits immediate transfers.

However it is not as quick the other way...2 days probably because of UK tax regs trying to keep the onshore UK pounds separate from the offshore pounds.

Nationwide Int have a deferred interest account - so if you are UK tax resident you can accumulate interest offshore (it is recorded but uou dont receive it), then choose at a later date when you want to receive it - ie when you are no longer EU resident.

IG24 - i have only seen one advert for it and as far as i can remember it was oferred by capital one.