I've had a brilliant idea -Barclays are closing my UK account as I am non-resident - why don't I tranfer my pension payments to a UK credit card?

[Liverpool Lou]

12 hours ago, nglodnig said:

12 hours ago, London Lowf said:

Let us know how you get on

I will. Watch this space.

No need to watch this space, DWP will only pay UK state pensions into bank accounts.

[nglodnig]

13 hours ago, Mike Teavee said:

Wise are a good solution

Sounds like a good idea. I've created a Wise account and will experiment further

[nglodnig]

Well even though the credit card payment IS to a UK bank account (sort code and number) the pensions people tell me that "their regulations" prevent them paying into them. I said I will write to my MP and she will get this regulation changed IMMEDIATELY (hollow laugh). So as pointed out to me before, WISE seems to be about the only solution for getting payments into sterling accounts

 

[foreverlomsak]

14 hours ago, Mike Teavee said:

NB I did this from Thailand but had proof of address in UK

did this from Thailand also, have not had a UK since 2005, I'm sure I used my Thai address on a UK Bank statement, maybe things have changed since then. 

[KannikaP]

14 hours ago, Mike Teavee said:

but even if they could, how do you maintain a UK Credit Card without a UK Bank Account? 

I have a Barclaycard but NO Barclays account.

[Moonlover]

17 hours ago, nglodnig said:

Sounds like a good idea. I've created a Wise account and will experiment further

Have you opened a Multi Currency Account? That's what you will need in order to receive pension payments. Once set it's up and you've let the IPC have the account details you're good to go.

 

And you can also transfer in any residue from your Barclays account.

[FritsSikkink]

On 5/23/2023 at 2:54 AM, nglodnig said:

I will. Watch this space.

Why don't you get it paid into a Thai bank?

[nglodnig]

13 hours ago, FritsSikkink said:

Why don't you get it paid into a Thai bank?

Because I want to use it to pay UK credit cards which (touch wood) have NOT been cancelled.

[nglodnig]

13 hours ago, Moonlover said:

And you can also transfer in any residue from your Barclays account.

I will take my overdraft elsewhere! ???? 

[JayClay]

4 hours ago, nglodnig said:

Because I want to use it to pay UK credit cards which (touch wood) have NOT been cancelled.

You can't 

[Moonlover]

8 hours ago, nglodnig said:

19 hours ago, Moonlover said:

And you can also transfer in any residue from your Barclays account.

 

8 hours ago, nglodnig said:

I will take my overdraft elsewhere! ???? 

Ah ha! Now the truth emerges. UK banks do not allow non UK resident account holders to run up an overdraft. That's the real reason why Barclays are closing your account, not solely because you're non resident.

 

Edited May 25, 2023 by Moonlover

[Moonlover]

3 hours ago, JayClay said:

5 hours ago, nglodnig said:

Because I want to use it to pay UK credit cards which (touch wood) have NOT been cancelled.

 

3 hours ago, JayClay said:

You can't 

If @nglodnig has followed the advice he's received here and opened a Multi Currency Account with Wise, he can pay credits from there via direct debit.

 

https://wise.com/help/articles/2977956/how-do-i-set-up-direct-debits

[CharlieH]

On 5/23/2023 at 3:47 PM, Liverpool Lou said:

No need to watch this space, DWP will only pay UK state pensions into bank accounts.

Not strictly true. there have been reports of people using Wise to receive payments and that is not a Bank.

[Moonlover]

2 minutes ago, CharlieH said:

Not strictly true. there have been reports of people using Wise to receive payments and that is not a Bank.

That is correct and it has already been mentioned in this thread.

[phetphet]

The problem you might have is that credit card companies are not allowed to hold clients funds. ( That's how it was explained to me).

I had some credit on my credit card as had overpaid in anticipation of some big bills arriving. The card company contacted me several times asking me for bank details so they could repay me the money. 

[Liverpool Lou]

1 hour ago, CharlieH said:

On 5/23/2023 at 3:47 PM, Liverpool Lou said:

No need to watch this space, DWP will only pay UK state pensions into bank accounts.

Not strictly true. there have been reports of people using Wise to receive payments and that is not a Bank.

You're right, if the DWP does accept Wise details for pension payments, but the distinction that I was making was between bank accounts and credit card accounts into which DWP will not pay pensions.

Edited May 25, 2023 by Liverpool Lou

[Liverpool Lou]

Those of us using Wise to receive their pensions (or any other remittances) or retain credit balances of any consequence, because they do not have access to a bank account, should bear in mind that Wise offers no deposit protection.  As I understand it, its only regulatory obligation is to hold all of our money in cash and secure liquid assets.

 

I'm not suggesting that our funds deposited in Wise are at risk but we only have Wise's reassurance that it "will look after our money by using safe investments and reputable banks with strong liquidity" for protection.  It is worth bearing that in mind for the bankless.   

[PPGuy]

2 hours ago, Moonlover said:

 

Ah ha! Now the truth emerges. UK banks do not allow non UK resident account holders to run up an overdraft. That's the real reason why Barclays are closing your account, not solely because you're non resident.

 

Rather a sweeping statement about UK banks not allowing non UK resident account holders to run up an overdraft.

I am UK non resident(with a Thai home address on record) and have current accounts with Halifax and First Direct in the UK that offer O/D facilities which I have used, from time to time. 

Edited May 25, 2023 by PPGuy

[Moonlover]

56 minutes ago, PPGuy said:

Rather a sweeping statement about UK banks not allowing non UK resident account holders to run up an overdraft.

I am UK non resident(with a Thai home address on record) and have current accounts with Halifax and First Direct in the UK that offer O/D facilities which I have used, from time to time. Both banks have my Thai address on their records. 

I think a lot depends on the way you handle an overdraft and your account generally. I am with Nationwide and they specifically state that one must be a UK resident to have an overdraft facility. (see W/S here )

 

However, as a account holder of long standing I also have an overdraft facility, despite declaring that I'm non resident. (registered address in Thailand) And like you I occasionally dip into it, usually only for a day or two. 

 

Banks do have discretionary  powers when it comes to enforcing T & Cs. Be a responsible customer and they will generally leave you to your own devices.

 

Only the O/P can judge whether he is being a responsible client.

 

There is one thing that I do believe. UK banks are not on a crusade to close the accounts of non resident clients, Such cases are few and far between and I suspect that there is always an untold back story.

 

Edited May 25, 2023 by Moonlover

[worgeordie]

I just get my state pension paid into my daughters account ,(whom I

trust 1000% ) , don't need it sent here, just use it to buy items in Uk, 

and get them sent here.,save the rest in my daughter's account.

 

regards Worgeordie

[The Fugitive]

1 hour ago, Moonlover said:

There is one thing that I do believe. UK banks are not on a crusade to close the accounts of non resident clients, Such cases are few and far between and I suspect that there is always an untold back story.

True. There is likely to be some history and, of course, things do change. Back in the days of chequebooks, paying-in books and cheque guarantee cards (remember them?), our banks admitted that current account customers cost them money. They were ever hopeful of us investing with them and taking out their insurance products. Today, we have neo banks with no branches and all they physically provide is a debit card. At least for those inconvenienced by account closurers and with no other options there is always Wise (see above warning from Liverpool Lou). With the increasing numbers of digital nomads there needs to be improved ways of operating our home country bank accounts internationally.

[nglodnig]

14 hours ago, Moonlover said:

has followed the advice he's received here

I did and I have. The testing phase begins

[Moonlover]

14 hours ago, nglodnig said:

On 5/25/2023 at 9:01 AM, Moonlover said:

If nglodnig has followed the advice he's received here

 

14 hours ago, nglodnig said:

I did and I have. The testing phase begins

Good luck. I hope that it works out ok for you. ????

[nglodnig]

Meanwhile, (for those who are interested) - I've been through all the "big four" (or is it five) and ALL the accounts require large deposits - that can't be touched. Well, they know what they can do with that.

 

Except one - Lloyds International - who "only" require a proof of income of 50k GBP which I might be able to squeeze (certainly this year while I am still working)  - and more, it DOESN'T have to go through this account. 

 

Account setup is laborious and I'm still struggling through it but they answer their helpline in a reasonable time and - have been helpful (well they ARE a help line ???? )

Edited May 26, 2023 by nglodnig

[ukrules]

On 5/23/2023 at 3:16 AM, nglodnig said:

Well they are pretty obvious questions which I have already answered in my posts above. And to be really brutally honest, I am not asking for help. I am informing interested people what my plan is and will inform this thread if it works. The clue was in the title of this thread - Barclays closing account because of non-residence in the UK.  So questions like: do you have a address not in the UK are let's be honest a tad superflous. But thank you for your interest.

 

At what point did you make the big mistake of telling your bank that you had an address outside the UK?

 

How long ago was it?

 

This information will be useful to me and others. For example, I tell my UK bank nothing, especially my address.

Edited May 26, 2023 by ukrules

[nglodnig]

43 minutes ago, ukrules said:

At what point did you make the big mistake of telling your bank that you had an address outside the UK?

 

About 25 years ago - when it was not possible to maintain a UK address legitimately.

 

P.S. there are several methods of maintaining a UK address FRAUDENTLY but I chose not to go down that route.

Edited May 26, 2023 by nglodnig

[ukrules]

9 minutes ago, nglodnig said:

About 25 years ago - when it was not possible to maintain a UK address legitimately.

 

P.S. there are several methods of maitaining a UK address FRAUDENTLY but I chose not to go down that route.

I just use my mothers address which has been working well for a very long time and it is my official address in the UK.

 

However that won't last forever (she's getting old) and I do plan on swapping over to an offshore account at some point.

 

When I do this, perhaps next year I will likely transfer my Lloyds account to Jersey.
 

[nglodnig]

3 minutes ago, ukrules said:

I will likely transfer my Lloyds account to Jersey.
 

They're in the Isle of Man but the admin office is in Jersey I found out. 

[nglodnig]

6 minutes ago, ukrules said:

I just use my mothers address

I didn't have that option. Sooner or later these phony addresses will catch up with people. It's FRAUD basically

 

P.S. I work for a bank

Edited May 26, 2023 by nglodnig

[ukrules]

1 minute ago, nglodnig said:

They're in the Isle of Man but the admin office is in Jersey I found out. 

Separate banks in each jurisdiction, there are many Lloyds