WISE just shut me down!

[madone]

23 hours ago, PumpkinEater said:

Doesn’t work…

WISE only accepts address from you passport (issued) country

 

 
Categorically untrue. They want your residential address.

[nickmondo]

On 2/3/2025 at 6:51 AM, BritManToo said:

Nearly as bad in the UK, no UK address and they are likely to cancel your bank account.

If you dont have a UK address, why do you expect to have a UK Bank Account?

[Kenny Boy]

On 2/3/2025 at 5:07 AM, gargamon said:

Welcome to Trump's America.

🐓

[thecyclist]

Can't you just give them the address of a relative? 

Do they actually check whether you are officially registered there? 

[BritManToo]

34 minutes ago, nickmondo said:

If you dont have a UK address, why do you expect to have a UK Bank Account?

My UK pensions, and my tax for HMRC for a start.

Along with my UK passport and my UK birth certificate, and a year or two back my UK NI payments.

[Moonlover]

3 hours ago, BritManToo said:

3 hours ago, Moonlover said:

Rubbish, I've held an active account in the UK for over 20 years without an address there. They have always known my overseas address, be it China, Egypt and now Thailand.

 

3 hours ago, BritManToo said:

"they are likely" isn't the same as "they will".

Not to mention this is all post Brexit government policy, so only the last 4 years count.

 

You've gotta ask yourself ......... Do you feel lucky?

This business of UK closing expat's accounts has been around for as long as I've been one. And that's a long time!

 

During that time only handful folk have reported having their accounts closed and when you drill down, there's always been a back story.

 

I do not consider my 'lucky' at all. I have always complied with the bank's T & Cs regarding my whereabouts and that is where most people come unstuck.

[AgMech Cowboy]

On 2/3/2025 at 5:07 AM, gargamon said:

Welcome to Trump's America.

Has nothing to do with President Trump or his cabinet Secretaries. 

[chickenslegs]

23 minutes ago, Moonlover said:

This business of UK closing expat's accounts has been around for as long as I've been one. And that's a long time!

 

During that time only handful folk have reported having their accounts closed and when you drill down, there's always been a back story.

No "back story" in my case.

I was a Barclays customer for almost 40 years. Salary (then pension) paid into my account on the first working day of every month without fail. Never overdrawn. A few car loans and a mortgage over the years, which were never defaulted.

I moved to Thailand in 2005 and notified Barclays of my new address. Carried on using the account for purchases here and in the UK, plus regular transfers to my BBL account for living expenses.

Completely out of the blue in 2021 I received a letter informing me that I must close my account within a few months, or Barclays would close it.

[Presnock]

5 hours ago, Wrwest said:

I had earlier issue with Wise transfers due to a change they made. Answer was a direct wire transfer from my USA bank (no fee) to my BKK Bank Account (200 baht). As to the other angle ... I don't want to get paranoid but ... with an administration wanting to cut all government expenditures ... yes I am concerned that they will make moves against the interests of American citizens not living in the USA physically. Medicare already discriminates (unless you are fully retired military ... they get global coverage ... civilians fully retired ... not). Bothpay the monthly Part B Medicare premiums.

but, not cheap, but US govt employees can keep their govt sponsored health insurance into retirement.  GOvt picks up almost 2/3 of the cost of the insurance but still that 1/3 is not very cheap but also all existing health issues remain covered around the world.

[Presnock]

10 hours ago, wittleus said:

Just a couple of thoughts. The FCEN is part of the Department of Treasury. It's very possible they have been a do-nothing office for last few years and suddenly because of fear of cancellation by the Doge they are starting to enforce the laws they were meant to do years ago and are becoming proactive. They want to keep their jobs and not have their Department canceled.

 

Another thought, if Thailand decides to side with BRICS, an organization/monetary initiative that Trump really hates, what is the possibility that he can order Banks, and maybe Social Security payouts, not to deal with countries, Banks, and currencies associated with BRICS.  If he can't actually stop them or change who they do business with, he can certainly Step Up controls and security with organizations like FCEN, to make even simple, everyday Financial transactions very cumbersome and nearly impossible. That's something to mull over for the future.

yeah he recently said that if the BRICS try to remove the dollar as the go to currency for inter transfers then he would put a 100% tariff on all BRICS countries.  Should be interesting anyway.

[Presnock]

1 hour ago, AgMech Cowboy said:

Has nothing to do with President Trump or his cabinet Secretaries. 

Yeah the US banks closing accounts hit mine 5 years ago.

[Moonlover]

2 hours ago, chickenslegs said:

No "back story" in my case.

I was a Barclays customer for almost 40 years. Salary (then pension) paid into my account on the first working day of every month without fail. Never overdrawn. A few car loans and a mortgage over the years, which were never defaulted.

I moved to Thailand in 2005 and notified Barclays of my new address. Carried on using the account for purchases here and in the UK, plus regular transfers to my BBL account for living expenses.

Completely out of the blue in 2021 I received a letter informing me that I must close my account within a few months, or Barclays would close it.

My apologies. Yes I should have added 'With the exception of Barclays who made a unilateral decision on this issue'. I've heard of no other UK High St bank that has done this.

 

It's almost certainly a commercial decision, not an overall policy one.

 

https://www.expertsforexpats.com/expat-resources/british-expats/finance/barclays-and-other-uk-financial-institutions-are-closing-british-expats-accounts/

[arick]

6 hours ago, Presnock said:

as much as I am surprised and probably others too, so far those tariffs seem to be working as both Mexico and Canada while expressing their promises to counter "tariff" they appear to be making some initial efforts to respond positively to methods to help stop the practices at the border.  Same with Colombia one the immigrants, and Panama on the Agreement with CHina about the canal use.  I don't agree with everything that Trump promises to do but much better than Biden and Co.

Well I hope Canada keeps sending their fentanyl that they don't want to the state maybe next year will be 30 kilos

[OJAS]

1 hour ago, Moonlover said:

I've heard of no other UK High St bank that has done this.

 

TSB have also been reported on here as indulging in this skullduggery:

 

 

[madone]

6 hours ago, thecyclist said:

Can't you just give them the address of a relative? 

Do they actually check whether you are officially registered there? 

 They want to see the same verification everyone does, a utility bill or similar like bank statement for that address in your name 

[oldcpu]

11 hours ago, Presnock said:

For anyone with local banks, especially Bangkok Bank.   I know in december, that Kasicorn Bank sent out forms CRS and FATCA or their customers and said that it was mandantory to fill out and return the forms to the bank.  Has anyone with other local banks been informed about these international banking exchange systems?  just wondering as from what I have read about the systems, ALL international banks are affected and have to coordinate with their customers.

 

Krungsri had me fill in sign some forms when I went to update my bank book sometime back.  I think Bangkok Bank did something similar to me when I was in the branch.  I can't recall the exact form but it may have been CRS related.  I don't stress over such as I try my best to follow the tax laws of the countrys where I get my income from, and Thailand where I reside.  I do thou try to learn the relevant laws so i can best legally manage my tax exposure.

[scottiejohn]

9 hours ago, oldcpu said:

 

Krungsri had me fill in sign some forms when I went to update my bank book sometime back.  I think Bangkok Bank did something similar to me when I was in the branch.  I can't recall the exact form but it may have been CRS related.  I don't stress over such as I try my best to follow the tax laws of the countrys where I get my income from, and Thailand where I reside.  I do thou try to learn the relevant laws so i can best legally manage my tax exposure.

You sign financial documents without knowing anything about them?

[Skeptic7]

On 2/3/2025 at 6:51 AM, BritManToo said:

Nearly as bad in the UK, no UK address and they are likely to cancel your bank account.

Already been that way for years in the US with most banks and some investment companies. 

[Moonlover]

17 hours ago, OJAS said:

 

TSB have also been reported on here as indulging in this skullduggery:

 

 

Wow, so that's 2 letters from expats in 5 years complaining about a UK bank closing their accounts. Hardly a tsunami of complaints is it!

 

And by the way, did you know that UK banks are under no obligation to tell you why they have chosen to close anyone's account?

 

 'We have  taken the decision to stop  holding accounts for customers living in Thailand', could mean 'We don't make enough money off your account to make it worth our while operating for you'.

 

Never forget that banks are commercial enterprises with an overriding desire to make money.

[Presnock]

20 hours ago, arick said:

Well I hope Canada keeps sending their fentanyl that they don't want to the state maybe next year will be 30 kilos

Yessir, the whole problem with fentanyl and the other dangerous drugs is all due to the IDIOTS that use them, not just pushers and sellers, if there were not so many stupid people out and about that use drugs for whatever reason and continue to ruin so many lives.

IMHO pushers/sellers should get the death penalty or the very least lifetime prison with no chance of parole - plus should be a work prison so that the inmate doesn't get any benefits except food for work completed.

[Liverpool Lou]

On 2/3/2025 at 5:05 AM, PumpkinEater said:

the WISE people who told me that I now need a physical address in the USA and that it cannot be a “mailbox”. I asked about who was behind this regulation and they sent me an email that the “Financial Crime Enforcement Network (FCEN) was behind this new requirement.

My concern as a US Citizen is the “whats next” question?

Are they working on cancellation of overseas living or retirement? Will they cancel my Citizenship and therefore my Social Security because I don’t own a home in the US anymore? Quite disturbing activity by the powers involved…

"No" to all of that nonsensical fear-mongering.  All Wise wants is an address for you as required by US regulations, not by Wise.  Give Wise that and all would be sorted.

There is no rational reasoning that living or retiring overseas is to be prohibited.  Obviously.

If you're a sole US citizen, your citizenship cannot be "cancelled".  Obviously.

The "powers involved" have done nothing that could remotely be called "quite disturbing".

[Liverpool Lou]

On 2/3/2025 at 5:07 AM, gargamon said:

Welcome to Trump's America.

"Welcome to America".  Nothing to do with Trump's actions.

[Liverpool Lou]

On 2/3/2025 at 12:07 PM, PumpkinEater said:

Doesn’t work…

WISE only accepts address from you passport (issued) country

 

I have a (Thai) Wise account, I also have a UK passport.

[Liverpool Lou]

On 2/3/2025 at 3:23 PM, ballpoint said:

"Supported countries where I can sign up for Revolut
You can open a Revolut account if you live in a country or overseas territory listed below.

You can give them an address to suit their rules, they don't check whether it is still valid or not, or if they do, they don't care.

[OJAS]

4 hours ago, Moonlover said:

Wow, so that's 2 letters from expats in 5 years complaining about a UK bank closing their accounts. Hardly a tsunami of complaints is it!

 

And by the way, did you know that UK banks are under no obligation to tell you why they have chosen to close anyone's account?

 

 'We have  taken the decision to stop  holding accounts for customers living in Thailand', could mean 'We don't make enough money off your account to make it worth our while operating for you'.

 

Never forget that banks are commercial enterprises with an overriding desire to make money.

 

A Google search of the Asean Now website I've just conducted has revealed a third culprit in the form of NatWest - see @MangoKorat's posts in the thread linked below.

 

But, that apart, just a tsunami of complaints about 1 bank (Barclays).

 

 

[anchadian]

 

[BKKKevin]

On 2/3/2025 at 7:53 PM, PumpkinEater said:

Ok you were right. I went into the personal details and updated to Thailand address. The repercussions of stating Thailand as my “Country of residence”

will hopefully be minimal. Also there is a hold n the account now until they sort out my new address input. 
Cheers

Did changing your country of residence and updating your address to your Thai address go thru? Did they request you to reidentify yourself?

 

Also did you initially just have a basic transfer account or did you also have a USD interest account attached to your Wise account?… The USD account requires them to adhere to stricter rules and send out 1099INT… 

 

Last year I personally experienced the exact notice you got shortly after I added cash to my cash account (~$1,000)… And assumed it was the reason for the new address request… I gave a family member address but like you agree this is not a good long term solution… I much prefer giving them my Thai address and being up front with them…

 

Just as an aside I also have a Remitly account and have it as backup to Wise I try to use them interchangeably so as to keep an active alternative;-)

[thaibreaker]

On 2/3/2025 at 3:23 PM, ballpoint said:

 

Supported countries where I can sign up for Revolut

 

The signing up process while living in other countries is really not a problem. I signed up with Revolut while living in Indonesia for a year (using a family member's address), doing that with a VPN pointed to my home country Norway. I even got my 3 cards sent by DHL to my address in Indonesia, free of any charge (metal plan).

Try using VPN for signups, if that's an issue. The same can be done in Thailand.

 

(Not solving the home address "issue" though. I don't know if you can use a Thai address as your home address. They are not on this list. I use a family member's address in my home country for my Revolut address).

[thaibreaker]

1 hour ago, anchadian said:

 

As usual, a lot of words and bark from Benjamin, but rarely any clear answer to anything.

But he will "follow up as it evolves"... Standard phrase.

[oldcpu]

11 hours ago, scottiejohn said:

You sign financial documents without knowing anything about them?

 

I was told they were associated with CRS requirements .. but I can't recall exact details ... nor can I be 100% certain they told the truth.  I was not going to spend hours (days ?? ) trying to find out what exact forms are needed for CRS to verify the bank was telling the truth.

 

They simply wanted Tax ID number, passport #, .. and certification that what I provided was accurate (they already previously had passport info).  They did not have me promise nor agree to anything OTHER than myself certifying I was providing correct information. The bank advised ALL other expatriate customers were required to fill in such.