UK Bank Account closed – seeking GBP alternatives Account for an elderly technology averse neighbour!

[ReloTH]

 

All trying to help out a neighbour who’s lived outside of the UK for many years & has no address in the UK (& in anticipation of potential response no provable way of showing an address in the UK either). He has just had his UK Account closed.

 

My only knowledge of his alternatives now are as follows:

 

• Offshore branch of the Highstreet Banks (likely no good for him given the minimum balance required out of reach?)
• The up & coming Online Accounts ie Monese & Reolut (concerned there’ll be too technical?)
• Multicurrency Account of a Thai bank

 

Is there anything I’m missing in terms of advice for him? Oh & ideally he’d like something that’d give him a cheque book (as mentioned old school).

 

Thanks all!

[dayo202]

revolut

Is your best option, account comes with a UK sort code and account number 

 

 

 

[Kwasaki]

Open Wise account.

[anchadian]

23 minutes ago, dayo202 said:

revolut

Is your best option, account comes with a UK sort code and account number 

 

 

 

Although doesn't come with a cheque book.

 

Same applies to Wise Ltd.

 

 

As  Kwasaki said, Wise is the answer subject to not leaving a large amount of money in the account,

 

Alternatively a Thai multicurrency account.

Edited March 17, 2023 by anchadian

[Kwasaki]

2 minutes ago, anchadian said:

Although doesn't come with a cheque book.

 

Same applies to Wise Ltd

Haven't seen a cheque book in 20 years. 

I haven't got a UK address and i think many posters here haven't but like me still have a UK bank how did the OP mate lose it is what i would like to know. 

[dayo202]

10 minutes ago, anchadian said:

Although doesn't come with a cheque book.

What bank account comes with a cheque book these days

 

[Mutt Daeng]

13 hours ago, ReloTH said:

All trying to help out a neighbour who’s lived outside of the UK for many years & has no address in the UK (& in anticipation of potential response no provable way of showing an address in the UK either). He has just had his UK Account closed.

 

My only knowledge of his alternatives now are as follows:

 

• Offshore branch of the Highstreet Banks (likely no good for him given the minimum balance required out of reach?)
• The up & coming Online Accounts ie Monese & Reolut (concerned there’ll be too technical?)
• Multicurrency Account of a Thai bank

 

Is there anything I’m missing in terms of advice for him? Oh & ideally he’d like something that’d give him a cheque book (as mentioned old school).

 

Thanks all!

I would be interested to know the name of the bank involved, as I have a UK bank account but no UK address.

[steve187]

13 hours ago, anchadian said:

Although doesn't come with a cheque book.

 

Same applies to Wise Ltd.

 

 

As  Kwasaki said, Wise is the answer subject to not leaving a large amount of money in the account,

 

Alternatively a Thai multicurrency account.

do you not have to make a bank transfer from an account in your name, to the new Wise bank account to prove id. ie you need an existing bank account to open a new one

[Kwasaki]

3 hours ago, steve187 said:

do you not have to make a bank transfer from an account in your name, to the new Wise bank account to prove id. ie you need an existing bank account to open a new one

Yes,  and i would say if OP  friend had no money in bank and did not use it they would close it. 

If he has some money in the bank still the UK bank will let him transfer to some other place. 

[NanLaew]

8 minutes ago, Kwasaki said:

3 hours ago, steve187 said:

do you not have to make a bank transfer from an account in your name, to the new Wise bank account to prove id. ie you need an existing bank account to open a new one

Yes,  and i would say if OP  friend had no money in bank and did not use it they would close it. 

If he has some money in the bank still the UK bank will let him transfer to some other place. 

Worst case scenario and no bank account, will Wise accept a Western Union 'opening' deposit?

[Kwasaki]

5 minutes ago, NanLaew said:

Worst case scenario and no bank account, will Wise accept a Western Union 'opening' deposit?

You'd have to ask Wise that I don't see why not. 

 

Still like to know what OP friend uk bank even though they have shut his account they have to send his money somewhere. 

[chickenslegs]

17 hours ago, Kwasaki said:

Haven't seen a cheque book in 20 years. 

I haven't got a UK address and i think many posters here haven't but like me still have a UK bank how did the OP mate lose it is what i would like to know. 

I've been a Barclay's customer since I was 18 (so, 48 years) and I have had a Thailand address for the past 17 years.

A few weeks ago I got a letter to say that they require me to close my account before August 2023, or they will close it. They say that non-UK residents cannot hold an account for legal reasons.

My account is active - pensions being paid in every month, so it's not a question of a dormant account.

I have a Wise account and arranged for my pensions to be paid into it. Then I will transfer the money into my Thai account.

[Eloquent pilgrim]

I assume he receives a UK state pension, where is that paid into ??

[mokwit]

12 minutes ago, chickenslegs said:

I have had a Thailand address for the past 17 years.

Registered with them, or did you have a UK address?

[Kwasaki]

15 minutes ago, chickenslegs said:

I've been a Barclay's customer since I was 18 (so, 48 years) and I have had a Thailand address for the past 17 years.

A few weeks ago I got a letter to say that they require me to close my account before August 2023, or they will close it. They say that non-UK residents cannot hold an account for legal reasons.

My account is active - pensions being paid in every month, so it's not a question of a dormant account.

I have a Wise account and arranged for my pensions to be paid into it. Then I will transfer the money into my Thai account.

Yes I dumped Barclay's a long time ago they were my first bank as a kid to. 

 

Nationwide are OK if you use a uk family address as yours too. 

 

I think my FD online bank has been OK so far.

My problem is the 2 private pension providers won't pay into my Thai bank only a UK based bank.  

No guessing to where the providers originated from "Barclay's ".

 

I think Wise has a UK address now so any trouble go there i guess. 

 

Edited March 18, 2023 by Kwasaki

[doctormann]

13 minutes ago, chickenslegs said:

I've been a Barclay's customer since I was 18 (so, 48 years) and I have had a Thailand address for the past 17 years.

A few weeks ago I got a letter to say that they require me to close my account before August 2023, or they will close it. They say that non-UK residents cannot hold an account for legal reasons.

My account is active - pensions being paid in every month, so it's not a question of a dormant account.

I have a Wise account and arranged for my pensions to be paid into it. Then I will transfer the money into my Thai account.

Same here.  I've had Barclays current and savings accounts for 60 years and both will be closed at the end of August.  I'm currently trying to find out if they will let me keep my IoM international account - if so, I shall probably use this for pension payments and transfers to one of my Thai accounts.  This is not ideal though as the international accounts is not cheap to run.  I may have to think about opening a Wise multi-currency account - with the associated problems of proving international transfers to keep Immigration happy.

[NanLaew]

Some advice here. This is Brexit-related and for Brits who are EU residents but applies for anyone no longer having a UK holding address for their UK bank.

 

https://international-adviser.com/how-expats-in-eu-are-getting-around-uk-bank-account-closures/

 

Note the bit about where you open your Revolut account. If it is in the UK, you will get the sort codes that certain  UK-based pension providers may need. If you open elsewhere, you will get the IBAN codes that won't work with the above providers.

[Negita43]

I've been a Natwest customer (originally National Provincial) for 63 years but that doesn't matter these days loyalty means nothing to big business and governments

[foreverlomsak]

18 hours ago, Kwasaki said:

Open Wise account.

May be a problem depositing his pensions, reason I say this as neither of my pension providers (UK) will deposit into Wise, one gave "not a bank, only a finance institution" as the reason for not being able to.

[Negita43]

Just now, foreverlomsak said:

May be a problem depositing his pensions, reason I say this as neither of my pension providers (UK) will deposit into Wise, one gave "not a bank, only a finance institution" as the reason for not being able to.

So - it's your pension which you have contributed to (over the years I guess) are they stealing it or what alternative do they offer after all it's your choice where you live?

[Liverpool Lou]

18 hours ago, dayo202 said:

revolut

Is your best option, account comes with a UK sort code and account number 

 

 

 

"Not available in this area", (Thailand).

Edited March 18, 2023 by Liverpool Lou

[Liverpool Lou]

18 hours ago, anchadian said:

18 hours ago, dayo202 said:

revolut

Is your best option, account comes with a UK sort code and account number 

 

 

 

Expand  

Although doesn't come with a cheque book.

Neither does it come with availability here.  Just tried...again.

[Yellowtail]

18 hours ago, dayo202 said:

What bank account comes with a cheque book these days

 

A checking account

[chickenslegs]

46 minutes ago, mokwit said:

Registered with them, or did you have a UK address?

I informed them when I moved to Thailand. I have no address in the UK.

[Kwasaki]

21 minutes ago, foreverlomsak said:

May be a problem depositing his pensions, reason I say this as neither of my pension providers (UK) will deposit into Wise, one gave "not a bank, only a finance institution" as the reason for not being able to.

Well if and when the time comes I hope my UK on-line bank will just address me at a UK address. 

 

At the end of the day uk pension providers have got to pay the monies of a person living abroad somewhere.

[foreverlomsak]

1 minute ago, Negita43 said:

So - it's your pension which you have contributed to (over the years I guess) are they stealing it or what alternative do they offer after all it's your choice where you live?

They are being paid in to a UK bank currently, and have been for about 10 years, (started looking at this as more and more people were having problems with high street bank closure) the requirements for depositing into a Thai bank account are next to impossible as 1 has asked for copies of a recent "council tax bill", or 2 utility bills showing my name and address in English, also a bank statement showing my name and address and the Banks name and address in English.

[Liverpool Lou]

18 hours ago, dayo202 said:

18 hours ago, anchadian said:

Although doesn't come with a cheque book.

What bank account comes with a cheque book these days

Current ("checking") accounts. 

 

Which traditional (non-online only) bank does not issue cheques books for current or business accounts?

[phetphet]

 I have also recently been trying to help an elderly techophobe with his banking on moving to Thailand.

 

I  have tried to gently drag him into the modern age of internet banking while at the same time trying to assuage some of his fears of losing all his money through a scam.

Set up two Thai bank accounts. One to keep funds without a card, another with a card for daily spending. Transfer small sums to keep the card working.

Has got himself a smartphone and familiarising himself with the banking apps.

Both UK and Thai

 

I mention this because you might have to do something similar with your neighbour.

 

Not sure if this would be an option, but one of  these Standard International Accounts might be of use. One has a minimum deposit of £2000. I don't know if they come with a cheque book.

https://international.standardbank.com/international/personal/products-and-services/bank/international-bank-accounts

 

What you get:

• An international bank account available in GBP, USD, EUR and AUD
• Unlimited deposits and withdrawals when banking at home or abroad
• A Private Banking Visa debit card with no annual fee *
• Access to international savings accounts and foreign exchange
• Standing Orders on all accounts and and Direct Debits on sterling accounts
• Internet banking to make international payments and transfers and manage your account
• Mobile banking to manage, view activity and link and transfer funds between your accounts
• Join the popular UCount Rewards Programme if you choose

 

Edited March 18, 2023 by phetphet

[Liverpool Lou]

5 hours ago, Mutt Daeng said:

I would be interested to know the name of the bank involved, as I have a UK bank account but no UK address.

"...I have a UK bank account but no UK address".

Don't tempt fate, that could change at any time the bank chooses!

[Liverpool Lou]

1 hour ago, Kwasaki said:

 

Still like to know what OP friend uk bank even though they have shut his account they have to send his money somewhere. 

More than likely a nil, or negligible, dormant balance if he's not used the account for "many years"