UK bank says the holder has to have a permanent address

[JackGats]

Nothing to do with Brexit. EU banks often do the same, ie they cancel the account after a number of months or years after you move outside the EU. I've heard banks in some EU countries make exceptions for "good clients", whatever that means. If you hide the fact that you moved, a bank even has a right to cancel the account without notice.

 

This has become a problem, if not existential problem number one, for many expats. I know one embassy of an EU country that even raised the matter back in Europe - to no avail as expats don't count - after so many of its registered countrymen in Thailand were left high and dry without a bank account. Meanwhile the embassy advises people to fall back on an account with a Thai bank.

 

What with the "compliance" rules and the money laundering charade, I don't see this getting any better. I don't own any crypto but I now realise crypto makes a lot of sense beyond being just a hedge investement.

 

 

Edited March 24, 2023 by JackGats
spelling

[Captain Monday]

Suggest  your friend enroll with Coutts Bank

He won't have any more problems

 

[BobBKK]

Crypto - some coins not all, will be the exchange of the future. takes seconds to make a transfer etc.  As for banks Nat West knows I moved here 15 years ago and have never said a dicky bird. 

[JackGats]

5 minutes ago, BobBKK said:

... As for banks Nat West knows I moved here 15 years ago and have never said a dicky bird. 

Just curious, are you a "good client", ie does your account throw up some good fees for the bank? I've known of someone getting kicked out of the EU bank where I have my account, but he had no regular revenues while I have my pension plus a (rather expensive) brokerage account. I keep my brokerage account with that bank on purpose, so that they have an incentive not to get rid of me.

[Liverpool Lou]

4 minutes ago, doctormann said:

11 minutes ago, Liverpool Lou said:

That does not work because Revolut is not yet available in Thailand!   This is what happens...

(1)   Enter a Thai phone number and get 'Success'!...

(2)  Returns to the previous home page again with three options, 'Log in', 'Sign up' or 'Get a free account'.  Log in (after receiving 'Success!') asks for a 4-digit passcode that hasn't been provided, Sign up obviously goes back to (1) as does 'Get a free account'

Revolut is not yet available in Thailand registering with a Thai phone number as of five minutes ago.  I have wanted to get a Revolut account for about four years now and I try every week in case it has been introduced...it hasn't.  

Expand  

Does it maybe work with a UK mobile number, as provided by GiffGaff?

That might also help with receiving an OTP via SMS.

No idea but I'm guessing that if I did buy a UK phone number the app would want a UK address that I do not have.

[BobBKK]

7 minutes ago, JackGats said:

Just curious, are you a "good client", ie does your account throw up some good fees for the bank? I've known of someone getting kicked out of the EU bank where I have my account, but he had no regular revenues while I have my pension plus a (rather expensive) brokerage account. I keep my brokerage account with that bank on purpose, so that they have an incentive not to get rid of me.

Hi - no I have about 100 quid in it and never use it - too many hassles. I guess they might shut it and I'd never know but they do send statements here annually.

[KhaoNiaw]

2 hours ago, Liverpool Lou said:

Not given that option on the app (I don't have a UK address anyway) as the service is "not available in my region"!  Neither is that option offered from Revolut's website, only a request for the Thai phone number which responds with 'Success!' and returns to the home page to log in but they do not provide the required 4-digit log in passcode.

I didn't think it was possible either. But can confirm it worked for me this morning. So it's an option if you are able use a UK address but obviously not going to work for you. 
From starting off on the laptop, it sent a 6 digit authentication code to my Thai phone number. A Thai address wasn't an option but it worked for Thai number with UK address. I had to set up my own 4-digit pin. Verification was done through selfie and photo of the passport page through the phone. I now have a working Revolut account.

Edited March 24, 2023 by KhaoNiaw

[Red Phoenix]

1 hour ago, Liverpool Lou said:

No idea but I'm guessing that if I did buy a UK phone number the app would want a UK address that I do not have.

As long as signing up for an Account does not require EVIDENCE of you living in the UK, you can simply give the address of a relative or friend (that's what I did when I signed up for the EU-based N26 Internet Bank).  The signing-up process will normally ask for a selfie of your Passport and a selfie of yourself (to ensure that the passport is indeed from you).

I would also suggest you open a new thread 'Any UK citizens in Thailand using REVOLUT' as I am pretty sure that there are several < e.g. Neeranam, who was former UK and has now Thai citizenship, and wrote that he has Revolut >

[NanLaew]

19 minutes ago, Red Phoenix said:

I would also suggest you open a new thread 'Any UK citizens in Thailand using REVOLUT' as I am pretty sure that there are several < e.g. Neeranam, who was former UK and has now Thai citizenship, and wrote that he has Revolut >

I would recommend @Liverpool Lou pursuing this to fruition on THIS thread. Opening a new thread will invariably lead to many members posting irrelevant information about how easy it was a number of years ago and not being precise about laptop OR phone app, having a UK address or which phone number, Thai OR UK, the all-enabling account setup passcode was sent to.

 

Considering that banking regulations for conventional banks are being globally aligned to make abuse and fraud harder, it would be wrong to assume that the likes of Revolut, Monzo, Starling et al, don't need to adjust their regulations, especially with new account opening. There's a chance that fraudsters running from their regular bank's new regulations make up a significant amount of applicants.

[phetphet]

2 hours ago, JackGats said:

Nothing to do with Brexit. EU banks often do the same, ie they cancel the account after a number of months or years after you move outside the EU. I've heard banks in some EU countries make exceptions for "good clients", whatever that means. If you hide the fact that you moved, a bank even has a right to cancel the account without notice.

 

This has become a problem, if not existential problem number one, for many expats. I know one embassy of an EU country that even raised the matter back in Europe - to no avail as expats don't count - after so many of its registered countrymen in Thailand were left high and dry without a bank account. Meanwhile the embassy advises people to fall back on an account with a Thai bank.

 

What with the "compliance" rules and the money laundering charade, I don't see this getting any better. I don't own any crypto but I now realise crypto makes a lot of sense beyond being just a hedge investement.

 

 

I had a french bank account closed last year, that I had had for years. Just an email to say we are closing your account, don't have to give you a reason, take your money elsewhere.

That caused problems getting the money sent here because they kept refusing letters from my Thai bank.

 

As far as crypto goes, I know someone who uses it to transfer his pension here. At least he was doing so the last time I spoke to him a while back.

I don't know the ins and outs of the coin or method he uses, but I presume he buys in GBP, transfers to another wallet and sells for THB

[paddypower]

Lots of responses - thanks for taking the time to share your experiences. I will scan/post the letter, once i remove personal info., just in case any of you is interested. The Guernsey bank seems like a good option. But would they not want you to go through a lot of rigmarole, to open an account? there is one glimmer of hope. The letter from Barf bank says that you may use  the address of another who manages your account. It's possible that this could apply to the property manager, who is the only entity receiving and disbursing rental money from my friend's flat in London..

 

[Purdey]

My UK building society knows I live in Thailand. They won't open a new account but keep the old one going. In the past, I asked other banks and they won't open new accounts if you live abroad.

I declared to the taxman that I am non-resident and don't pay tax there. I would empty the account if I could but it is a very old book account with no electronic facility (I have checked that it cannot be done). I prefer not to pay tax in the UK as I don't see the benefit once you have permanent residence here.

[In Full Agreement]

On 3/22/2023 at 12:40 PM, scubascuba3 said:

i closed mine, far from flawless 

 

Details please?

 

[In Full Agreement]

4 hours ago, Captain Monday said:

Suggest  your friend enroll with Coutts Bank

He won't have any more problems

 

 

Do you seriously think your post is helpful to most members on this forum?    High wealth?

 

Become a Client

Coutts  services have been designed to meet the needs of high-net-worth individuals and their businesses.

Lets (sic?) start with a few simple questions to ensure we are well suited to your needs.  

 

 

Edited March 24, 2023 by In Full Agreement

[ian carman]

This may open up a can of worms because DWP might well ask why your uk state pension is being paid into a non uk bank account.Cannot get the yearly increase in pension if not resident in uk 

[bradiston]

2 hours ago, ian carman said:

This may open up a can of worms because DWP might well ask why your uk state pension is being paid into a non uk bank account.Cannot get the yearly increase in pension if not resident in uk 

Not true at all. Most of the EU, and the Philippines and a few other places get the increases. Check out the DWP website.

Edited March 24, 2023 by bradiston

[NanLaew]

3 hours ago, paddypower said:

Lots of responses - thanks for taking the time to share your experiences. I will scan/post the letter, once i remove personal info., just in case any of you is interested. The Guernsey bank seems like a good option. But would they not want you to go through a lot of rigmarole, to open an account? there is one glimmer of hope. The letter from Barf bank says that you may use  the address of another who manages your account. It's possible that this could apply to the property manager, who is the only entity receiving and disbursing rental money from my friend's flat in London..

 

I mentioned earlier that to open NEW accounts in the Isle of Man or Channel islands, one needs one to be resident there.

 

If Barclay's (or any other mainland UK bank) haven't offered transferring to these jurisdictions as an alternative to account closure, it's probably because it's NOT an option.

[NanLaew]

35 minutes ago, bradiston said:

Not true at all. Most of the EU, and the Philippines and a few other places get the increases. Check out the DWP website.

So you are suggesting that the OP and others facing UK domestic bank account challenges should relocate to "Most of the EU, and the Philippines" and all their issues will be over?

 

Ummm, thanks.

[AgMech Cowboy]

On 3/22/2023 at 11:46 AM, Liverpool Lou said:

she's suddenly got a new UK address that she's not registered at while living

Wow, the people in the UK have to "register" where they live...

[ian carman]

2 hours ago, bradiston said:

Not true at all. Most of the EU, and the Philippines and a few other places get the increases. Check out the DWP website.

Does Thailand ?

[bradiston]

2 hours ago, NanLaew said:

So you are suggesting that the OP and others facing UK domestic bank account challenges should relocate to "Most of the EU, and the Philippines" and all their issues will be over?

 

Ummm, thanks.

No, I was pointing out that not residing in the UK does not necessarily mean you cannot get pension updates.

 

"Cannot get the yearly increase in pension if not resident in uk ".

 

Patently not true.

[bradiston]

19 minutes ago, ian carman said:

Does Thailand ?

No

[ian carman]

2 minutes ago, bradiston said:

No, I was pointing out that not residing in the UK does not necessarily mean you cannot get pension updates.

 

"Cannot get the yearly increase in pension if not resident in uk ".

 

Patently not true.

My comment was purely in regards to Thailand I know it doesn’t apply in ex EU countries 

[geisha]

After Brexit, many Brits living in France saw their UK bank accounts closed. Try an address with family that have the same surname as you.,

[Liverpool Lou]

5 hours ago, AgMech Cowboy said:

On 3/22/2023 at 11:46 AM, Liverpool Lou said:

she's suddenly got a new UK address that she's not registered at while living

Wow, the people in the UK have to "register" where they live...

No, they don't have to but it can be advantageous to be on the electoral register.

[Liverpool Lou]

10 hours ago, Red Phoenix said:

I would also suggest you open a new thread 'Any UK citizens in Thailand using REVOLUT' as I am pretty sure that there are several

I would suggest that you do it as I know, and have proved, that Revolut is not available currently for new accounts in Thailand based on a Thai phone number, not new accounts for people in Thailand pretending to be in the UK who may have UK credentials.  

[Captain Monday]

17 hours ago, In Full Agreement said:

 

Do you seriously think your post is helpful to most members on this forum?    High wealth?

 

Become a Client

Coutts  services have been designed to meet the needs of high-net-worth individuals and their businesses.

Lets (sic?) start with a few simple questions to ensure we are well suited to your needs.  

 

 

Many are financially well off actually. Even if they snipe about egg prices like skinflints.

[Liverpool Lou]

On 3/23/2023 at 4:02 PM, Neeranam said:

 

On 3/23/2023 at 7:32 PM, Red Phoenix said:

Just Google 'Opening a REVOLUT account while in Thailand'.

Note: Instead of trying to do it on a mobile, try opening the Revolut-site on a laptop computer, and there you will have the option to input a Thai mobile number.

 

On 3/23/2023 at 8:38 PM, bradiston said:

If you give a UK address, you can use a Thai number.

 

On 3/23/2023 at 9:01 PM, Red Phoenix said:

https://www.revolut.com/

Then click on the +44 mobile number and change to +66 for Thailand

 

For the record, this is a reply from Revolut in response to my asking them directly yesterday whether Revolut is available in Thailand...it is not...

 

[Red Phoenix]

8 hours ago, Liverpool Lou said:

I would suggest that you do it as I know, and have proved, that Revolut is not available currently for new accounts in Thailand based on a Thai phone number, not new accounts for people in Thailand pretending to be in the UK who may have UK credentials.  

As I wrote before, I recently opened an N26 internet Bank-Account from Thailand using my Belgian passport and mobile with Thai SIM. N26 has similar or better conditions than Revolut but is only available for EU passport-holders (I did provide a Belgian address, although I am living in Thailand).  

But I looked it up for Revolut and indeed to open a Bank-account in UK you need proof of address residing there. 

The Revolut users in Thailand, probably opened the account while they were still residing in UK.

[Kwasaki]

If some people are having there UK bank account closed and some are still with the same Bank are not wouldn't that mean it is down to the manager of the branch.