Esso49 Posted October 16, 2018 Share Posted October 16, 2018 Coutts will. https://www.coutts.com/private-banking.html Link to comment Share on other sites More sharing options...
topt Posted October 16, 2018 Share Posted October 16, 2018 4 hours ago, barry1312 said: Offshore Banks domiciled in the Isle of Man are covered by UK investor protection laws as they are simply branches of UK Mainland Banks. Not for Lloyds International - https://international.lloydsbank.com/insight-and-guidance/depositor-compensation-schemes/ Quote including the Financial Services Compensation Scheme, do not apply to the financial services business of companies within the Lloyds Banking Group carried out from offices outside of the United Kingdom. LLoyds International IOM is up to £50k under the "IOM scheme". Can't speak for other banks however Link to comment Share on other sites More sharing options...
KittenKong Posted October 16, 2018 Share Posted October 16, 2018 12 hours ago, barry1312 said: Offshore Banks domiciled in the Isle of Man are covered by UK investor protection laws as they are simply branches of UK Mainland Banks. You could not be more wrong. 1 Link to comment Share on other sites More sharing options...
Crossy Posted October 16, 2018 Share Posted October 16, 2018 16 hours ago, Esso49 said: Coutts will. https://www.coutts.com/private-banking.html Indeed, and they'll charge you 100 Squid a month for the privilege although it is free if you have 500k GBP in your account https://www.coutts.com/content/dam/rbs-coutts/coutts-com/Files/private-banking/private-client-banking-tariff.pdf My remaining UK onshore bank (Nationwide) don't seem to care where I am although I'm using my parent's address in the UK (not on the electoral roll). If they do pull the plug it's not the end of the world. 1 Link to comment Share on other sites More sharing options...
dabhand Posted October 17, 2018 Share Posted October 17, 2018 2 hours ago, Crossy said: Indeed, and they'll charge you 100 Squid a month for the privilege although it is free if you have 500k GBP in your account https://www.coutts.com/content/dam/rbs-coutts/coutts-com/Files/private-banking/private-client-banking-tariff.pdf My remaining UK onshore bank (Nationwide) don't seem to care where I am although I'm using my parent's address in the UK (not on the electoral roll). If they do pull the plug it's not the end of the world. Yup, Nationwide are fine with me having a Thai address. Completed their tax residence form last year and they were happy with me indicating that I had no local TIN. I did open the accounts (CC + Current accounts) when I had a UK correspondence address (similarly without having been on any electoral roll for about 40 years) so not sure if opening an account from scratch would now be possible. Likely not. Link to comment Share on other sites More sharing options...
Tofer Posted October 17, 2018 Share Posted October 17, 2018 On 10/15/2018 at 9:46 PM, Jip99 said: TW exchange rates are always better than BKB. In your case the 500 Baht costs with BKB will equate to around a £1,000 transfer with TW. So does that mean TW charge approx. BT500 / £1,000 transferred? In that case my £20,000 transfers would cost BT10,000 with TW and only 500 baht with BKK. Link to comment Share on other sites More sharing options...
dabhand Posted October 17, 2018 Share Posted October 17, 2018 18 minutes ago, Tofer said: So does that mean TW charge approx. BT500 / £1,000 transferred? In that case my £20,000 transfers would cost BT10,000 with TW and only 500 baht with BKK. Suggest you look at the TW website and plug in the figures. Think you will find that the actual charges for a Stg20k transfer will be around B5,000. You then need to factor in the better exchange rate that TW offers compared to that of local banks. Also any upfront sending / Thai bank receiving charges need to be taken into account. 1 Link to comment Share on other sites More sharing options...
Esso49 Posted October 17, 2018 Share Posted October 17, 2018 14 hours ago, Crossy said: Indeed, and they'll charge you 100 Squid a month for the privilege although it is free if you have 500k GBP in your account https://www.coutts.com/content/dam/rbs-coutts/coutts-com/Files/private-banking/private-client-banking-tariff.pdf My remaining UK onshore bank (Nationwide) don't seem to care where I am although I'm using my parent's address in the UK (not on the electoral roll). If they do pull the plug it's not the end of the world. Well guess if I had 490k GBP as loose cash in Coutts I would not be to bothered about the monthly charge. Because no doubt the chances are most people with similar amounts of "pocket money" would have salted their real money away in the Cayman Isles or similar away from the tax-mans prying eyes no doubt. Link to comment Share on other sites More sharing options...
simoh1490 Posted October 17, 2018 Share Posted October 17, 2018 On 10/16/2018 at 12:31 PM, barry1312 said: Offshore Banks domiciled in the Isle of Man are covered by UK investor protection laws as they are simply branches of UK Mainland Banks. the IOM has its own deposit protection scheme, separate and different completely from the UK scheme. And, I'm not sure how an offshore bank can be domiciled in the IOM, that's a contradiction in terms! Link to comment Share on other sites More sharing options...
Jip99 Posted October 17, 2018 Share Posted October 17, 2018 3 hours ago, Tofer said: So does that mean TW charge approx. BT500 / £1,000 transferred? In that case my £20,000 transfers would cost BT10,000 with TW and only 500 baht with BKK. I have done a comparison just now of transferring £20,000 to my Kasikorn account via TW and also direct (free) from HSBC.... TW £20k @ 42.644 less charges £110.89 = net proceeds 848,157.57 Baht. HSBC to K Bank £20k @ 42.275 = 845,500 less 500 = 845,000 Baht. TW is better by more than 3,000 Baht. (in my case it is even worse with K Bank because there is also an unlimited 0.1% additional charge ie. 846 Baht) 2 Link to comment Share on other sites More sharing options...
simoh1490 Posted October 17, 2018 Share Posted October 17, 2018 For probably the tenth time this year on this same subject: the comparison is not entirely about costs. 20k Pounds is not a small amount and TW does not provide an FET hence transferring the funds back overseas, if required. may prove difficult. Also, the funds cannot be used for anything other than daily living expenses since it is not possible to obtain a FET for those funds because they do not originate from overseas, they are in fact a domestic transfer. Link to comment Share on other sites More sharing options...
Just Weird Posted October 20, 2018 Share Posted October 20, 2018 On 10/15/2018 at 10:57 PM, KittenKong said: I gave names. Not sure what you mean by "normal banking services" but the names I mentioned accept deposits which is what I want. If you want current account facilities and overdrafts and chequebooks then I suspect they will be much harder to find, for obvious reasons. Several just means a small number greater than two. At no point did I suggest that they were common: in fact I suggested the opposite. Not my problem. You wanted the name of a bank that accepts non-resident depositors: they do. In fact I suspect that the OP is looking at the private banking section of their website which does have much higher requirements than the savings section. So maybe he should check again. You are confusing the Yorkshire Building Society (Lloyds) with the Yorkshire Bank (owned by CYBG plc which is in the process of merging with Virgin Money). There are only a handful of Indian banks that operate in the UK. How hard can it be to look at them all? You will find the right ones quite quickly. The smaller names come and go. Again, look at them. I found a couple without much trouble. If you want me to do more for you it will cost you £200/hour for my time. Yes, carry on and send me an invoice. You have not answered my point at all in relation to the OP. Specifically which on-shore UK banks will open accounts for people who do not have a UK address and who do not live in the UK? You have not given the name of any UK bank that will do that (none of the ones you mentioned will) so put your £200/hour money where your mouth is and give me one specific name, please, just one. 1 Link to comment Share on other sites More sharing options...
KittenKong Posted October 20, 2018 Share Posted October 20, 2018 1 hour ago, Just Weird said: You have not answered my point at all in relation to the OP. Specifically which on-shore UK banks will open accounts for people who do not have a UK address and who do not live in the UK? You have not given the name of any UK bank that will do that (none of the ones you mentioned will) so put your £200/hour money where your mouth is and give me one specific name, please, just one. All the ones I named will. That's why I named them. Add to those a couple of Indian banks that I didnt name. Add Coutts named by another poster. And there are others. 1 Link to comment Share on other sites More sharing options...
Just Weird Posted October 20, 2018 Share Posted October 20, 2018 On 10/16/2018 at 12:40 PM, Esso49 said: Coutts will. https://www.coutts.com/private-banking.html Coutts is part of the Royal Bank of Scotland Group. They will not open accounts in the UK unless you are a UK resident. Link to comment Share on other sites More sharing options...
Just Weird Posted October 20, 2018 Share Posted October 20, 2018 24 minutes ago, KittenKong said: All the ones I named will. That's why I named them. Add to those a couple of Indian banks that I didnt name. Add Coutts named by another poster. And there are others. You named Investec which the OP said was not appropriate so, in the context of the OP, that doesn't count, even if it does open UK accounts for non-UK residents. Yorkshire Bank (Clydesdale Bank) and Scottish Widows will not open UK accounts for non-UK residents. So none of the ones that you named, except the inappropriate Investec, will. Coutts won't either. There are no regular UK banks that will. Your un-named ones can be disregarded as un-named recommendations are pointless. Link to comment Share on other sites More sharing options...
Just Weird Posted October 20, 2018 Share Posted October 20, 2018 On 10/16/2018 at 12:40 PM, Esso49 said: Coutts will. https://www.coutts.com/private-banking.html Coutts won't. Link to comment Share on other sites More sharing options...
CharlieH Posted October 20, 2018 Share Posted October 20, 2018 bickering posts removed. Link to comment Share on other sites More sharing options...
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