UK pensions

[petetahkli]

I Have just received a form for my UK pension,on it ,they want an Iban number, i went to my local Bangkok bank branch,and they did not know anything about an Iban number,reading the above posts one said they don't use Iban in Thailand,so  what about the pension form and the Iban number do i just leave it blank Thank you

[vogie]

6 minutes ago, petetahkli said:

I Have just received a form for my UK pension,on it ,they want an Iban number, i went to my local Bangkok bank branch,and they did not know anything about an Iban number,reading the above posts one said they don't use Iban in Thailand,so  what about the pension form and the Iban number do i just leave it blank Thank you

No don't leave it blank, I believe the Thai equivilant is the Swift code.

[petetahkli]

2 minutes ago, vogie said:

No don't leave it blank, I believe the Thai equivilant is the Swift code.

Ok Thanks for your quick reply

[Jip99]

1 hour ago, OJAS said:

I would have thought that this would only be possible if a TransferWise borderless account had 8-digit account code and 6-digit sort code numbers, as per a regular UK account. However, it would appear from @Jip99's posting that this is not the case.

 

OJAS....just catching up so this may have been answered... with Borderless you get your own unique account number and sort code of Barclays Shoreditch. 

 

Just signing up for transfers gets you you a membership number.

 

[Jip99]

5 minutes ago, petetahkli said:

Ok Thanks for your quick reply

 

 

IBAN is a mainly European concept.

 

Quote BKKBTHBK + your account number.....

[sandyf]

1 hour ago, OJAS said:

I would have thought that this would only be possible if a TransferWise borderless account had 8-digit account code and 6-digit sort code numbers, as per a regular UK account. However, it would appear from @Jip99's posting that this is not the case.

Not something I am familiar with but from the website I do not see why there would be a problem. They say you get a UK account number so as I understand it the pension would just be a domestic payment to the borderless account. You would then transfer the amount required through their service to the account in Thailand.

 

Get local bank details.

These currencies come with your very own bank details. Anyone can use these to pay you just like they'd pay a local.

British Pound

Get your own Account Number and Sort Code.

https://transferwise.com/gb/borderless/#coverage

[Jip99]

7 minutes ago, sandyf said:

Not something I am familiar with but from the website I do not see why there would be a problem. They say you get a UK account number so as I understand it the pension would just be a domestic payment to the borderless account. You would then transfer the amount required through their service to the account in Thailand.

 

Get local bank details.

These currencies come with your very own bank details. Anyone can use these to pay you just like they'd pay a local.

British Pound

Get your own Account Number and Sort Code.

https://transferwise.com/gb/borderless/#coverage

 

 

100% correct Sandy.

 

You set yourself up as a beneficiary for your Thai bank account. 

[sandyf]

4 minutes ago, Jip99 said:

 

 

100% correct Sandy.

 

You set yourself up as a beneficiary for your Thai bank account. 

I watched a video on it and many said it was not available in their country. From what I can gather it is restricted service for Thailand, no card available, only THB can be sent in and cannot send money out.

 

I am fairly happy with my HSBC arrangement but like to keep up with the options. I notice Transferwise do not use HSBC in their comparison, HSBC transfer fee is only £4.

[Moonlover]

6 hours ago, transam said:

My payment via Citi bank arrives every fourth Thursday at roughly the same time, l get an SMS message on my phone from BKK bank with the figure credited. The only time it has been a day late is if a Thai bank holiday falls on a Thursday..

It can also arrive a day late if there is a public holiday in the US. (Citibank being US of course) The last one that affected me was 4th July.

[transam]

10 minutes ago, Moonlover said:

It can also arrive a day late if there is a public holiday in the US. (Citibank being US of course) The last one that affected me was 4th July.

My UK payment goes to Citi Bank in Ireland, they transfer it to BKK...May have changed now but it so far has only been LOS end for a delay..

[Jip99]

2 hours ago, sandyf said:

I watched a video on it and many said it was not available in their country. From what I can gather it is restricted service for Thailand, no card available, only THB can be sent in and cannot send money out.

 

I am fairly happy with my HSBC arrangement but like to keep up with the options. I notice Transferwise do not use HSBC in their comparison, HSBC transfer fee is only £4.

 

As  retired employee, I do not pay the £4 HSBC charge - I am still significantly better off using TW.

[billd766]

2 hours ago, sandyf said:

Not something I am familiar with but from the website I do not see why there would be a problem. They say you get a UK account number so as I understand it the pension would just be a domestic payment to the borderless account. You would then transfer the amount required through their service to the account in Thailand.

 

Get local bank details.

These currencies come with your very own bank details. Anyone can use these to pay you just like they'd pay a local.

British Pound

Get your own Account Number and Sort Code.

https://transferwise.com/gb/borderless/#coverage

 

Hi Sandy

 

Thanks for that information. I have had a look around the website and it looks very interesting and it also seem like a good idea.

 

I will talk to the DWP next week and see if it is possible to do it through them though I will set up an account first.

 

Perhaps I will be luckier this time and find somebody at the DWP who knows what they are talking about.

[Moonlover]

48 minutes ago, billd766 said:

 

Hi Sandy

 

Thanks for that information. I have had a look around the website and it looks very interesting and it also seem like a good idea.

 

I will talk to the DWP next week and see if it is possible to do it through them though I will set up an account first.

 

Perhaps I will be luckier this time and find somebody at the DWP who knows what they are talking about.

If the information, thus received is correct and TW do indeed set up a UK based sterling account in your name, then I can see no reason why DWP should refuse to deposit your pension into it.

 

I have 2 pensions currently being sent to my Krungsri account, both through intermediaries, Citycorp and Citybank and I'm sure they don't provide their service as an act of charity! They'll be getting their nibble as my money passes through. And when my, rather delayed pensions do arrive, they're converted at the banks 'cash buying'  rate as opposed to TW's 'mid-market' rate.

 

I have already signed up as a member  as a member of TW and I'm going to trail them with some small sums from my UK account. If all goes well, I'll have all my pensions paid directly into that account.

 

There is a thread already running on TW See the link below. Wgdanson's comments are particularly interesting.

 

 

 

 

 

[billd766]

3 hours ago, Moonlover said:

If the information, thus received is correct and TW do indeed set up a UK based sterling account in your name, then I can see no reason why DWP should refuse to deposit your pension into it.

 

I have 2 pensions currently being sent to my Krungsri account, both through intermediaries, Citycorp and Citybank and I'm sure they don't provide their service as an act of charity! They'll be getting their nibble as my money passes through. And when my, rather delayed pensions do arrive, they're converted at the banks 'cash buying'  rate as opposed to TW's 'mid-market' rate.

 

I have already signed up as a member  as a member of TW and I'm going to trail them with some small sums from my UK account. If all goes well, I'll have all my pensions paid directly into that account.

 

There is a thread already running on TW See the link below. Wgdanson's comments are particularly interesting.

 

 

 

3 hours ago, Moonlover said:

 

 

 

Thanks for the link. I will certainly look into it next week.

[petetahkli]

17 hours ago, Jip99 said:

 

 

IBAN is a mainly European concept.

 

Quote BKKBTHBK + your account number.....

Thank you

[sandyf]

On 9/8/2018 at 2:24 PM, petetahkli said:

I Have just received a form for my UK pension,on it ,they want an Iban number, i went to my local Bangkok bank branch,and they did not know anything about an Iban number,reading the above posts one said they don't use Iban in Thailand,so  what about the pension form and the Iban number do i just leave it blank Thank you

I posted a copy of the form earlier(post 4763) and you see it asks for both IBAN and BIC. BIC is the SWIFT code and you must enter the appropriate code here, for Thailand it will only be an 8 character code. As I pointed out to Bill you should clarify the branch code, usually first 3 digits of account number, and enter that in the appropriate place.

You can leave the IBAN blank, I did and it was never a problem, always got my pension on the morning of the day it was due, barring bank holidays. I just wrote not used in Thailand to the side of the IBAN field.

[sandyf]

On 9/8/2018 at 2:43 PM, Jip99 said:

 

 

IBAN is a mainly European concept.

 

Quote BKKBTHBK + your account number.....

When advising DWP of an account details you should use the proper form. An 8 character SWIFT code plus the account number would not include a branch identifier, for that you need the 11 character SWIFT code and Thailand only uses those for commercial accounts.

[Jip99]

3 minutes ago, sandyf said:

When advising DWP of an account details you should use the proper form. An 8 character SWIFT code plus the account number would not include a branch identifier, for that you need the 11 character SWIFT code and Thailand only uses those for commercial accounts.

 

 

Indeed......XXX can be used to fill any spaces...ie BKKBTHBKXXX

[sandyf]

22 hours ago, Jip99 said:

 

As  retired employee, I do not pay the £4 HSBC charge - I am still significantly better off using TW.

That may well depend on the amount involved, I have tested TW a couple of times when I have done a transfer and there was nothing in it. Little point in trying to mend something that isn't broken, but worth keeping in mind.

[Jip99]

2 minutes ago, sandyf said:

That may well depend on the amount involved, I have tested TW a couple of times when I have done a transfer and there was nothing in it. Little point in trying to mend something that isn't broken, but worth keeping in mind.

 

I agree.....with TW the SWIFT is pre-set and you cannot manually amend  .

 

I guess it is academic because  the whole point of TW is that they make intra-country payments.

[sandyf]

2 minutes ago, Jip99 said:

 

 

Indeed......XXX can be used to fill any spaces...ie BKKBTHBKXXX

I used it work in IT and did BACS in its early days. One of the verifications is that the essential fields are fully populated, basic data entry check, so where a variable length string is involved it needs to be 'padded' out, hence the need for some X's. The destination would determine how many characters of the string need to be read, hence the note on the form to fill in from the left. 

[petetahkli]

24 minutes ago, sandyf said:

I posted a copy of the form earlier(post 4763) and you see it asks for both IBAN and BIC. BIC is the SWIFT code and you must enter the appropriate code here, for Thailand it will only be an 8 character code. As I pointed out to Bill you should clarify the branch code, usually first 3 digits of account number, and enter that in the appropriate place.

You can leave the IBAN blank, I did and it was never a problem, always got my pension on the morning of the day it was due, barring bank holidays. I just wrote not used in Thailand to the side of the IBAN field.

Thank you very much Sandyf

[Expattaff1308]

 Pensioners International Consortium of British pens

An Email from International Consortium of British Pensioners...   Dear ICBP Supporter,   Recently we advised you of a change in our PR agency in the U.K..  Part of this reason was because we felt the need for new ideas and a fresh approach.   One of the first initiatives is a new website which you can see here https://endfrozenpensions.org/ As a supporter of our campaign to put an end to the UK Government’s unjust position on ‘frozen’ overseas British pensions, we now need your help. Working with these new advisers, we have renamed the campaign ‘End Frozen Pensions’ and we are about to begin a new huge push to put pressure on the Government. To this end we have started a petition on our new website.  This is a petition ‘with a difference’ as it includes an option to email your Member of Parliament if you are based in the UK or email the UK Prime Minister if you are based overseas. Even if you have already signed up as a supporter of our campaign, PLEASE sign up on this new website too. The emails generated will encourage Members of Parliament to meet with campaign representatives or urge the Prime Minister to end this unfair policy. All you have to do is input your basic details and click ‘send’ on a suggested text that we have written. It will take no more than 30 seconds: the same time it takes to brush your teeth or boil a kettle. The more signatories the greater the impact. The greater the impact, the greater the pressure on the British government and the more likely we are to get justice for over 520,000 overseas pensioners. Finally: please share this petition as far and wide as possible among family and friends. Share it by Facebook, Twitter, email, smoke signal, telegraph, letter, word-of-mouth and more. Every extra sign up and email generated makes our campaign stronger. Every last one. We would really appreciate you signing it and encouraging as many others to do so as well. Here is a short message that you can copy and paste to share with others.

[Expattaff1308]

Here is a short message that you can copy and paste to share with others. _____________________________________________________ Dear    On my behalf, please sign this petition to help end the UK Government’s unjust, unfair and arbitrary overseas ‘frozen’ pensions policy. This policy means that British pensions who live abroad in the majority of Commonwealth countries do not have their pensions increased in line with inflation and so their real value falls year-on-year.  This is leading to suffering and poverty. ‘Frozen’ pensions affect over 520,000 overseas British pensioners around the world. Please GO TO our website  www.endfrozenpensions.org sign the petition, and use the option to email your Member of Parliament if you are based in the UK, or email the UK Prime Minister if you are based overseas. These emails will encourage Members of Parliament to meet with campaign representatives and urge the Prime Minister to end this unfair policy. All you have to do is input your basic details and click ‘send’ on a suggested text that we have written. It will take no more than 30 seconds: the same time it takes to brush your teeth or boil a kettle. Finally: please share this petition as far and wide as possible among family and friends. Share it with Facebook, Twitter, email, smoke signal, telegraph, letter, word-of-mouth and more. Every person who signs up will make a difference. Every last one. I would really you signing it and the encouraging as many others to do so as well. Facebook: End Frozen Pensions Twitter: @pensionjustice Email: [email protected]  ________________________________________________________ The new campaign is also urgently looking for case studies. If you are happy to be featured on new our website as a case study please send over a good quality recent photo and 100 words on your frozen pension story to [email protected]. All published materials that feature case studies are cleared through them first.  Regards John J Duffy, Chairman - International Consortium of British Pensioners Contact & follow us on our social media channels for more campaign updates: Facebook: End Frozen Pensions  Twitter: @pensionjustice Email: [email protected]

[billd766]

7 hours ago, Expattaff1308 said:

Here is a short message that you can copy and paste to share with others. _____________________________________________________ Dear    On my behalf, please sign this petition to help end the UK Government’s unjust, unfair and arbitrary overseas ‘frozen’ pensions policy. This policy means that British pensions who live abroad in the majority of Commonwealth countries do not have their pensions increased in line with inflation and so their real value falls year-on-year.  This is leading to suffering and poverty. ‘Frozen’ pensions affect over 520,000 overseas British pensioners around the world. Please GO TO our website  www.endfrozenpensions.org sign the petition, and use the option to email your Member of Parliament if you are based in the UK, or email the UK Prime Minister if you are based overseas. These emails will encourage Members of Parliament to meet with campaign representatives and urge the Prime Minister to end this unfair policy. All you have to do is input your basic details and click ‘send’ on a suggested text that we have written. It will take no more than 30 seconds: the same time it takes to brush your teeth or boil a kettle. Finally: please share this petition as far and wide as possible among family and friends. Share it with Facebook, Twitter, email, smoke signal, telegraph, letter, word-of-mouth and more. Every person who signs up will make a difference. Every last one. I would really you signing it and the encouraging as many others to do so as well. Facebook: End Frozen Pensions Twitter: @pensionjustice Email: [email protected]  ________________________________________________________ The new campaign is also urgently looking for case studies. If you are happy to be featured on new our website as a case study please send over a good quality recent photo and 100 words on your frozen pension story to [email protected]. All published materials that feature case studies are cleared through them first.  Regards John J Duffy, Chairman - International Consortium of British Pensioners Contact & follow us on our social media channels for more campaign updates: Facebook: End Frozen Pensions  Twitter: @pensionjustice Email: [email protected]

 

Thanks. You beat me to it by 7 hours which perhaps foolishly I wasted in sleeping.

[p414]

the National insurance was/ is a huge scam.The single childless worker pays most into this scam.The mandarins also cleverly wrote it to make you believe you pay less into it than you actually do..'The 'employers contribution'..would have worked for the first year of the scam..After this all employers would take this 'contribution' into account when working out the salary for any.every job..He would also show this 'contribution' to the trade unions seeking higher wages..

I was born 1944 and had to pay 44 years of national insurance..Most of the time I was an employee but had to pay some further years voluntarily to qualify for full sate pension..The courts of Europe decided that my pension is a government benefit.

[ivor bigun]

the National insurance was/ is a huge scam.The single childless worker pays most into this scam.The mandarins also cleverly wrote it to make you believe you pay less into it than you actually do..'The 'employers contribution'..would have worked for the first year of the scam..After this all employers would take this 'contribution' into account when working out the salary for any.every job..He would also show this 'contribution' to the trade unions seeking higher wages..
I was born 1944 and had to pay 44 years of national insurance..Most of the time I was an employee but had to pay some further years voluntarily to qualify for full sate pension..The courts of Europe decided that my pension is a government benefit.

Yes thank you Tony Blair the working mans friend,great that he was the leader of the labour party,the party of the shirking man,sorry working man

Sent from my SM-A720F using Thailand Forum - Thaivisa mobile app

[dick dasterdly]

52 minutes ago, p414 said:

the National insurance was/ is a huge scam.The single childless worker pays most into this scam.The mandarins also cleverly wrote it to make you believe you pay less into it than you actually do..'The 'employers contribution'..would have worked for the first year of the scam..After this all employers would take this 'contribution' into account when working out the salary for any.every job..He would also show this 'contribution' to the trade unions seeking higher wages..

I was born 1944 and had to pay 44 years of national insurance..Most of the time I was an employee but had to pay some further years voluntarily to qualify for full sate pension..The courts of Europe decided that my pension is a government benefit.

I agree, but it's not just the "single childless worker pays most into this scam".

 

Married, both working in PAYE jobs, but without children, are also in the same 'bracket'. - i.e. subsidising most of the population.

 

Not that it matters much, as (on the whole) I've never had a problem with subsidising those in the country less fortunate than myself.

[billzant]

Have just signed the end frozen pensions petition https://endfrozenpensions.org/, I hope we all can

[p414]

17 hours ago, dick dasterdly said:

I agree, but it's not just the "single childless worker pays most into this scam".

 

Married, both working in PAYE jobs, but without children, are also in the same 'bracket'. - i.e. subsidising most of the population.

 

Not that it matters much, as (on the whole) I've never had a problem with subsidising those in the country less fortunate than myself.

Unfortunately  a vast number of 'those in the country less fortunate than  myself' arrived after the war .Many have never learnt English and have lived on government [taxpayers] benefits ever since..[greek cypriots that spend the winter in Wood Green public library  for instance]..many from the west indies..I have no wish to give any of these 'unfortunate people' any of MY hard earned money...I believe that these unfortunates had their N.I payments paid by the government and because of this would now qualify for a full state pension whilst never having worked or paid income tax all of their lives.