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

[Kwasaki]

4 minutes ago, Liverpool Lou said:

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

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

People would like to know what others have done when a UK bank dumps them. 

 

I don't see why pension providers can't pay into Wise because at the end of the day they are financial institutions as well. ????

[Liverpool Lou]

1 hour ago, doctormann said:

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

Your non-UK resident status should have no effect on a Barclays, Isle of Man, off-shore bank account.

[Liverpool Lou]

52 minutes 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're, obviously, not stealing his pension and it is not his choice how his pension provider or pension provider's bankers pay his pension if he alters his circumstances to not complying with their conditions that he originally met.

[KannikaP]

1 hour ago, doctormann said:

Wise multi-currency account - with the associated problems of proving international transfers to keep Immigration happy.

I never had any problems with Wise transfers being accepted by IO, as long as it shows the money came from outside Thailand, so click the Long Stay reason when doing it. That takes an extra day to transfer so do it the day before you need the dosh.

[chickenslegs]

13 minutes ago, Kwasaki said:

People would like to know what others have done when a UK bank dumps them. 

 

I don't see why pension providers can't pay into Wise because at the end of the day they are financial institutions as well. ????

I had confirmation from my pension provider a couple of days ago that they will pay into my Wise account.

My state pension can be paid into my Thailand account.

Wise can provide a letter to confirm one's account details, which can be forwarded (online or by post) to the pension provider - the letter can be downloaded from their website.

 

Edit: To add that I am setting up a Wise account for my wife so that she should have no problems getting her widows pension when the time comes.

Edited March 18, 2023 by chickenslegs

[Liverpool Lou]

38 minutes ago, Kwasaki said:

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

Usually to a nominated, acceptable bank account.   If the recipient changes that, after the fact, without having a new bank, I guess it's his problem to sort out.  If the pension cannot be paid out the unpaid amounts will accrue in his pension fund until he complies.

[Liverpool Lou]

26 minutes ago, phetphet said:

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. 

That account is only available to existing private banking clients.

[Mutt Daeng]

33 minutes ago, Liverpool Lou said:

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

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

I think it was around 2013 when I asked HSBC if I could move to Thailand and operate my bank account and credit/debit cards "as normal" as if I was resident in the UK and they said it was fine. I had already lived here full time since mid 2009 but still had my UK address registered with HSBC. So I changed my address via online banking to my Thai address. I still had a UK address until late 2014 but then I sold my house, leaving only my Thai address. HSBC are happy to send new credit/debit cards to my Thai address. I realise this may change at any time, which is why I try and keep up to speed regarding policy changes using forums such as this. Perhaps I should test the water with my pension providers to see what their payment policies are so I can be better prepared just in case HSBC decide to close my account.

Edited March 18, 2023 by Mutt Daeng

[Liverpool Lou]

19 minutes ago, Kwasaki said:

I don't see why pension providers can't pay into Wise because at the end of the day they are financial institutions as well.

Presumably because they are not banks and the pension fund requires that pensions are paid into bank accounts.   If pensioners change their own circumstances so they are unable to receive their pension payments as they have been doing, that's not the pension fund's problem to sort out.

[Liverpool Lou]

11 minutes ago, chickenslegs said:

My state pension can be paid into my Thailand account.

You mean your Wise account in Thailand or your Thai bank account?   UK state pensions can be paid into Thai bank accounts.

[NanLaew]

1 hour ago, Liverpool Lou said:

19 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).

Not available to open an account or they don't have any corresponding banks in Thailand?

Edited March 18, 2023 by NanLaew

[Kwasaki]

12 minutes ago, chickenslegs said:

I had confirmation from my pension provider a couple of days ago that they will pay into my Wise account.

My state pension can be paid into my Thailand account.

Wise can provide a letter to confirm one's account details, which can be forwarded (online or by post) to the pension provider - the letter can be downloaded from their website.

 

Edit: To add that I am setting up a Wise account for my wife so that she should have no problems getting her widows pension when the time comes.

That's good to know.

Just shows what a dump for assumed info asiennow can be. 

[NanLaew]

6 minutes ago, Liverpool Lou said:

Presumably because they are not banks and the pension fund requires that pensions are paid into bank accounts.   If pensioners change their own circumstances so they are unable to receive their pension payments as they have been doing, that's not the pension fund's problem to sort out.

Did you retire from the Liverpool pension office help desk?

[Liverpool Lou]

4 minutes ago, NanLaew said:

Did you retire from the Liverpool pension office help desk?

No, but I do have a background in banking, pensions and insurance, though.   I'm glad that I'm not unappreciated.

Edited March 18, 2023 by Liverpool Lou

[NanLaew]

19 minutes ago, Liverpool Lou said:

No, but I do have a background in banking, pensions and insurance, though.   I'm glad that I'm not unappreciated.

Thanks, so with regard to revolut, what precisely do you mean by,

 

1 hour ago, Liverpool Lou said:

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

Is that the message you get when you try and set up a new account here in Thailand with a Thai ip address?

 

Does using a UK VPN make any difference?

[NanLaew]

26 minutes ago, Kwasaki said:

That's good to know.

Just shows what a dump for assumed info asiennow can be. 

Its a repository of useful information but one should never assume that the advice that worked for one member is a universal and constant thing. One does need to know enough to sort the wheat from the chaff.

[doctormann]

57 minutes ago, Liverpool Lou said:

Your non-UK resident status should have no effect on a Barclays, Isle of Man, off-shore bank account.

I certainly hope so as it would make a bit of a nonsense of having an international account in that case.

 

I just hope that they don't start to demand some silly amount of deposit to keep the account open.  At present, it only requires the account to have a two-month average of at least 2k GBP but there is a monthly fee of 40 GBP when the balance is that low.  If I transfer my current on-shore account and have my pensions paid into that account there will be a substantial amount in there - but I doubt if maintaining the account will be free.

 

[hotandsticky]

1 hour ago, Liverpool Lou said:

No, but I do have a background in banking, pensions and insurance, though.   I'm glad that I'm not unappreciated.

 

Banking, pensions AND insurance .................................. couldn't you keep a job down?  ????????

[chickenslegs]

1 hour ago, Liverpool Lou said:

You mean your Wise account in Thailand or your Thai bank account?   UK state pensions can be paid into Thai bank accounts.

My Thai bank account.

[Kwasaki]

1 hour ago, NanLaew said:

Its a repository of useful information but one should never assume that the advice that worked for one member is a universal and constant thing. One does need to know enough to sort the wheat from the chaff.

So if Chicklegs can do it do you mean I may not be able to because of who my provider is. 

 

My UK pension provider Reasure Ltd who I have never spoken to, it seemed impossible at the time. ???? They pay my pensions and insists on a UK bank then surely i can arrange for them to put it in my sons UK bank account if they will not pay into Wise. 

 

Edited March 18, 2023 by Kwasaki

[hotandsticky]

12 minutes ago, Kwasaki said:

So if Chicklegs can do it do you mean I may not be able to because of who my provider is. 

 

My UK pension provider Reasure Ltd who I have never spoken to, it seemed impossible at the time. ???? They pay my pensions and insists on a UK bank then surely i can arrange for them to put it in my sons UK bank account if they will not pay into Wise. 

 

 

I am not sure how well you will get on trying to get the pension paid to a third party bank account.

 

 

A WISE account has a UK sort code and account number.

 

 

[Negita43]

20 minutes ago, Kwasaki said:

Reasure Ltd

I believe they specialise in buying up old pension pots from other insurers and I have one pension with them - £40 a year thank god!

I still think they cannot insist where the pension is paid to - maybe it doesn't suit their "systems" but that is their problem not yours - consult the financial omsbudman over this maybe a bit of pressure will help.

Edited March 18, 2023 by Negita43

[hotandsticky]

6 minutes ago, Negita43 said:

 

I still think they cannot insist where the pension is paid to  

JCB Pension Fund did. They refused to pay direct to Thailand.

 

 

I like the idea of contacting the ombudsman though if the matter cannot be resolved with the pension provider.

[Kwasaki]

25 minutes ago, hotandsticky said:

 

I am not sure how well you will get on trying to get the pension paid to a third party bank account.

 

 

A WISE account has a UK sort code and account number.

 

 

Yes I have a Wise account set up on-line as i couldn't get money using my debit card like i could before. 

 

I go on computer to my UK online bank and move money from my uk account to Wise account who I have set up as a payment person in my name. 

 

It goes in and Wise sticks it in as a GB £ amount section. 

 

I guess i can move it to the Thai one I am not sure, i haven't seen a reason to do that yet. 

[Kwasaki]

28 minutes ago, Negita43 said:

I believe they specialise in buying up old pension pots from other insurers and I have one pension with them - £40 a year thank god!

I still think they cannot insist where the pension is paid to - maybe it doesn't suit their "systems" but that is their problem not yours - consult the financial omsbudman over this maybe a bit of pressure will help.

Thanks but all's well, all good at the moment so I'll let sleeping dogs lie.

[Eloquent pilgrim]

Has anyone else noticed that after more than 50 comments with advice and questions, the original poster has not responded to any of them, or answered any questions.

Reading the OP again, I notice that he doesn’t even mention that he, or the neighbour he is trying to help, even live in Thailand. He just says he has lived outside of the UK for many years.

ReloTH seems to have completely lost interest  ¯\_(ツ)_/¯

[hotandsticky]

35 minutes ago, Kwasaki said:

Yes I have a Wise account set up on-line as i couldn't get money using my debit card like i could before. 

 

I go on computer to my UK online bank and move money from my uk account to Wise account who I have set up as a payment person in my name. 

 

It goes in and Wise sticks it in as a GB £ amount section. 

 

I guess i can move it to the Thai one I am not sure, i haven't seen a reason to do that yet. 

Exactly what I do  - I also can't yet see a reason to hold money in the Thai Baht account.

[Liverpool Lou]

.

Edited March 18, 2023 by Liverpool Lou

[Liverpool Lou]

3 hours ago, NanLaew said:

5 hours ago, Liverpool Lou said:

23 hours ago, dayo202 said:

revolut

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

 

 

 

Expand  

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

Not available to open an account or they don't have any corresponding banks in Thailand?

Edited 3 hours ago by NanLaew

Revolut is not available in Thailand.

[Liverpool Lou]

3 hours ago, NanLaew said:

5 hours ago, Liverpool Lou said:

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

Is that the message you get when you try and set up a new account here in Thailand with a Thai ip address?

Yes.