Hi Guys

 

I wonder what advice you may have. 

 

I live in Thailand but I keep my UK bank accounts open using a UK address so as not to have access to services like bank cards removed. 

 

I applied to start a pension using the UK address (in order to have payments made to a UK bank account & not straight here) but was asked to provide further evidence of my UK address from utility bills, Electoral Register etc. I registered on the Electoral Register here and have a Thai bank account registered at this address.

 

I really would prefer not to receive pension payments into my Thai bank account, either in terms of currency conversion costs or costs/scrutiny in transferring amounts back to the UK. For instance, I would much prefer to have any tax free lump sum paid straight into a UK account (assuming the government haven't withdrawn the tax free allowance currently available to us by the time I might claim it) and not have to explain how payments from it back to the UK aren't financially denuding Thailand. Indeed, there tax consequences here of receiving a lump sum - are there? !

 

Does anyone have experience in a similar situation? Do I have to come clean over my address being in Thailand with a UK bank and face whatever restrictions may be applied to get the pension paid to that account? Would it be better to open a new bank account (online perhaps) held in the UK from here & does anyone have any recommendations of banks providing a good service in that respect? 

 

Any suggestions will be welcome!

 

With many thanks as always & kind regards to all

It likely depends what your pension provider will accept as proof of address and life. My provider requested a legal document from a lawyer saying I was legit then they paid into my UK branded bank for expats in Jersey. YMMV.

I live in Thailand with access to a UK bank (Nationwide), but I do not have a UK address. As an existing NW customer, they have no problems with me using a Thai address. 
I had 3 small pension pots to sort out. To my dismay, I discovered that all three would not let me use the drawdown method, and two wouldn't even entertain paying out to a non-UK resident. I was advised to consolidate all three to one provider, and even then, it was impossible to find a provider who would allow me to use the drawdown method because I didn't live in the UK.  On top of that, it was hard to find a provider who would pay out the 25% tax-free lump sum, even though I was entitled to it.  Eventually, I got it sorted to my satisfaction, received my 25% lump sum, which was paid into my UK bank, or I could have had it paid anywhere in the world, for that matter, as that was not important to the provider; proof of address was! I also had to go down the annuity route. 

TBH, using a Thai address is a P.I.T.A.  I had no choice. Back and forth documents, emails, etc. It took 3 months to sort out, start to finish. So, using a Thai address and having it paid into a UK bank is possible with a little patience and tongue biting! 
To have a pension paid into an existing account in the UK is fine; my provider preferred doing it that way. 

1 hour ago, 503726 said:

Would it be better to open a new bank account (online perhaps) held in the UK from here

It's virtually impossible to open a new account, even as an existing customer of a UK bank online, as they state you must be a UK resident and will require proof of address, etc. 
Hope this helps.

Other threads have mentioned GBP accounts held with WISE being used to receive pension payments from DWP before payment on to Thai banks. 

 

Does anyone know whether a GBP account with WISE could be set up with a Thai address? Can you get a statement or account confirmation letter from WISE evidencing your Thai address? 

 

I presume that if a lump sum were paid into a WISE account in GBP you could pass it on in GBP to another UK bank. Do they have protocols restricting the size of transfers?

 

Thx  

3 hours ago, 503726 said:

I live in Thailand but I keep my UK bank accounts open using a UK address so as not to have access to services like bank cards removed. 

 

3 hours ago, 503726 said:

Would it be better to open a new bank account (online perhaps) held in the UK from here & does anyone have any recommendations of banks providing a good service in that respect? 

If you already have a UK bank account, why do you need to open another? Seems like the issue is with the pension supplier and not your bank?

Do you not have a family members address you can use, from memory I opened my account without utility bills I told them it was a shared house. Oh I remember now my mate downloaded a rental contract filled it in and signed it. Room number included even though I didn't even live there. Hope this helps.

11 minutes ago, Hamus Yaigh said:

 

If you already have a UK bank account, why do you need to open another? Seems like the issue is with the pension supplier and not your bank?

                                                                                                                                                                                                                                                         By the sounds of it, the OP is trying to start a pension but cannot supply proof of UK address.

Not sure what address he is using to keep his UK bank accounts open. 🤔

16 minutes ago, Hamus Yaigh said:

 

If you already have a UK bank account, why do you need to open another? Seems like the issue is with the pension supplier and not your bank?

 

Yes, its the pension administrator's process not the bank. The original admin sold its book of pensions onto the next administrator & then they sold on to the next one bringing mechanistic processes in place. I really don't need a new bank account but I fail the electronic ID check by not having my name on utility bills or the electoral register at my cousin's. I think I can pass it from this Thai address but I just want the money in the UK accounts so its a pain qualifying to get it in an account here.

 

All my paperwork was in place at my sister's but she died and her husband f***** it up. 

12 minutes ago, BenCrew said:

                                                                                                                                                                                                                                                         By the sounds of it, the OP is trying to start a pension but cannot supply proof of UK address.

Not sure what address he is using to keep his UK bank accounts open. 🤔

 

I use my cousin's address & am not on the utility bills etc

 

If you are interested, they test identity, link that to bank account but it is a f*** to have a sizeable lump sum paid into a Thai account and be faced with sending the majority of it back while justifying transfers in excess of 50,000 baht. 

47 minutes ago, 503726 said:

Other threads have mentioned GBP accounts held with WISE being used to receive pension payments from DWP before payment on to Thai banks. 

 

Does anyone know whether a GBP account with WISE could be set up with a Thai address? Can you get a statement or account confirmation letter from WISE evidencing your Thai address? 

 

I presume that if a lump sum were paid into a WISE account in GBP you could pass it on in GBP to another UK bank. Do they have protocols restricting the size of transfers?

 

Thx  

Wise is having issues right now with transfers to Bangkok Bank due to the banks new position on transfers for foreigners. I would be very careful about Wise right now. They are not a bank, just a money mover and its starting to show with their spotty performance 

19 minutes ago, brian69 said:

Do you not have a family members address you can use, from memory I opened my account without utility bills I told them it was a shared house. Oh I remember now my mate downloaded a rental contract filled it in and signed it. Room number included even though I didn't even live there. Hope this helps.

 

I know what you mean, but this pensions administrator has narrowed its process right down. Its just unlucky my sister passed away, I don't want to impose too much on my cousin who is happy helping me in her place.

2 hours ago, 503726 said:

 

I use my cousin's address & am not on the utility bills etc

 

If you are interested, they test identity, link that to bank account but it is a f*** to have a sizeable lump sum paid into a Thai account and be faced with sending the majority of it back while justifying transfers in excess of 50,000 baht. 

 

Yes, I understand your problem. I am with the Halifax, have informed them of my Thai address, and now cannot open any other UK savings accounts, with the Halifax or anybody else. I did attempt a Standard Life pension fund using my parents address but as you say, they check the electoral register, and I've not had a chance to vote for donkey's years!

2 hours ago, Dan O said:

Wise is having issues right now with transfers to Bangkok Bank due to the banks new position on transfers for foreigners. I would be very careful about Wise right now. They are not a bank, just a money mover and its starting to show with their spotty performance 

Completed a transfer yesterday to Bangkok Bank, no problem. Wise asked me to verify my address on the app. I clicked the message to confirm that my address hadn't changed, and they said that they would be in touch if they needed any further information.

3 minutes ago, BenCrew said:

Completed a transfer yesterday to Bangkok Bank, no problem. Wise asked me to verify my address on the app. I clicked the message to confirm that my address hadn't changed, and they said that they would be in touch if they needed any further information.

There's been a rash of posts about the address issue with several people saying exactly what you just posted and then getting a notice the next day asking for proof of address. Hope it works ok for you. 

8 minutes ago, Dan O said:

There's been a rash of posts about the address issue with several people saying exactly what you just posted and then getting a notice the next day asking for proof of address. 

Yes, I've read those post's, but not heard anything else from Wise ...yet.

I was wondering if those requests are for accounts that have had a Wise card issued?

I haven't. 

28 minutes ago, BenCrew said:

Yes, I've read those post's, but not heard anything else from Wise ...yet.

I was wondering if those requests are for accounts that have had a Wise card issued?

I haven't. 

No idea but it seems to be consistent that its transfers going to Bangkok Bank. They have some other excessive policy changes, more so than other banks. 

3 hours ago, Dan O said:

Wise is having issues right now with transfers to Bangkok Bank due to the banks new position on transfers for foreigners. I would be very careful about Wise right now. They are not a bank, just a money mover and its starting to show with their spotty performance 

 

 

WISE are great in my experience over the last 5/6years whatever, 

 

The OP WILL need WISE if he wants a separate UK bank account  (Yes, WISE is not a bank but it looks like one and has a sorting code and account numbers) because he can't open a 'proper' bank account if not UK resident.

 

You don't throw the baby out with the bath water ...just because BKB have issues it does not mean that other Thai banks do,

10 minutes ago, Dan O said:

No idea but it seems to be consistent that its transfers going to Bangkok Bank. They have some other excessive policy changes, more so than other banks. 

 

 

Like what?

43 minutes ago, Dan O said:

There's been a rash of posts about the address issue with several people saying exactly what you just posted and then getting a notice the next day asking for proof of address. Hope it works ok for you. 

 

Most have no further contact after certifying the address ...me for one and 4 friends who went through the same exercise. In any event uploading evidence of address is not exactly complicated.

3 hours ago, 503726 said:

 

I use my cousin's address & am not on the utility bills etc

 

If you are interested, they test identity, link that to bank account but it is a f*** to have a sizeable lump sum paid into a Thai account and be faced with sending the majority of it back while justifying transfers in excess of 50,000 baht. 

 

 

For 18 years I used my ex-wife's address (the former matrimonial home). She moved in the summer and I now use my daughter's address. Two UK banks have my UK and Thai address on file. WISE have my UK address but Thai phone number - and every transfer (about 8 a month) is marked as "Funds for long-term stay in Thailand".

1 hour ago, hotandsticky said:

 

 

WISE are great in my experience over the last 5/6years whatever, 

 

The OP WILL need WISE if he wants a separate UK bank account  (Yes, WISE is not a bank but it looks like one and has a sorting code and account numbers) because he can't open a 'proper' bank account if not UK resident.

 

You don't throw the baby out with the bath water ...just because BKB have issues it does not mean that other Thai banks do,

I never said throw them out, just pointed out they have issues and are not as great as some think.

Not being a bank does have some drawbacks and the current situation is one of them. 

People can choose how they want to deal with their money any way they want but it helps to be informed. 

1 hour ago, hotandsticky said:

 

 

Like what?

They require a 4 month signed  commitment to hold money in order to receive a letter confirming account status for imm purposes. This is a very recent change due to BOT push to crack down on mule accts and scammers.  Its been in all the forums lately. They have also been freezing acct and closing account much more frequently than other banks. 

2 minutes ago, Dan O said:

I never said throw them out, just pointed out they have issues and are not as great as some think.

Not being a bank does have some drawbacks and the current situation is one of them. 

People can choose how they want to deal with their money any way they want but it helps to be informed. 

 

 

All that is true. 

 

But I don't necessarily think that not being a 'bank' is a disadvantage because the banking cartel in the UK can be far more Draconian than a Money Services Business would ever be. 

 

WISE appear to be caught up an international verification process - we have seen with BKB recently. 

1 hour ago, hotandsticky said:

 

Most have no further contact after certifying the address ...me for one and 4 friends who went through the same exercise. In any event uploading evidence of address is not exactly complicated.

It can be if you dobt have the proof they require. 

1 minute ago, Dan O said:

They require a 4 month signed  commitment to hold money in order to receive a letter confirming account status for imm purposes. This is a very recent change due to BOT push to crack down on mule accts and scammers.  Its been in all the forums lately. They have also been freezing acct and closing account much more frequently than other banks. 

 

 

Ah got it. I incorrectly assumed that you were talking about WISE having/creating issues (sorry can't remember exactly what you said) rather than the stupidity of BKB with the fictitious 4 month rule.

1 minute ago, hotandsticky said:

 

 

All that is true. 

 

But I don't necessarily think that not being a 'bank' is a disadvantage because the banking cartel in the UK can be far more Draconian than a Money Services Business would ever be. 

 

WISE appear to be caught up an international verification process - we have seen with BKB recently. 

That's what I posted and you seem to want to debate its not happening. In your earlier replies to me. 

 

Money movers are subject to local bank regs in every country they work in and these type problems can continue to crop up as regional banks start closing some of their loopholes due to scammers, money launders etc. Money movers are a commonly used vehicle for this

2 minutes ago, Dan O said:

It can be if you don't have the proof they require. 

 

 

But everyone has got the proof they require. 

 

Same as UKPA with British passport renewals - they are not trying to put barriers up and have been very flexible in accepting something that verifies an address (I have several examples).

 

The problem is communication and understanding. All to often we read (or assume) that you MUST provide this document to satisfy address evidence. In reality the conversation should be around "what do you have available that satisfies our requirement to see evidence of where you live. As we all know that can be difficult (especially for an ex-pat in Thailand).

 

This is not not going away and IMO can only get worse. Anticipate it and every 6 months contrive to get a letter from DWP, your bank, HMRC so you always have some evidence available.

3 minutes ago, Dan O said:

That's what I posted and you seem to want to debate its not happening. In your earlier replies to me. 

 

Money movers are subject to local bank regs in every country they work in and these type problems can continue to crop up as regional banks start closing some of their loopholes due to scammers, money launders etc. Money movers are a commonly used vehicle for this

 

 

So is Bitcoin etc.

 

You are right to highlight a tightening of 'policy' (closing loopholes..?) because WE - the consumer - are the ones who have to deal with the fallout,.

 

I still don't see an issue with WISE - because I have never had an issue with WISE. Fortunately, Bangkok Bank is not my main account but the issues there are not of WISE's making. 

8 hours ago, Madgee said:

It's virtually impossible to open a new account, even as an existing customer of a UK bank online, as they state you must be a UK resident and will require proof of address, etc. 
Hope this helps.

This is true. They might retain an existing account with a foreign address if there's a sizeable amount in there or regular payments in, but they will refuse any new account opening.

3 hours ago, BenCrew said:

 

Yes, I understand your problem. I am with the Halifax, have informed them of my Thai address, and now cannot open any other UK savings accounts, with the Halifax or anybody else. I did attempt a Standard Life pension fund using my parents address but as you say, they check the electoral register, and I've not had a chance to vote for donkey's years!

 

I was surprised to find how easily I could get on to the UK Electoral Registry based on my address here to prove my address to a pension company. I too haven't voted for ages, but I only had to write to the electoral service covering the address I was last registered at for them to add me to the Register without a hitch and send confirmation here as the evidence the pension company required. And as extra plus, it means I could add a vote against two tier kier and his crying crew at the next opportunity.