Possible To Open Uk Bank Account?

[percy2]

I suggest that you do nothing until you compare your situation with mine. I will give you a summary of my own situation and you may be able to make some personal decisions after reading it. The early posters have given you some advice but I feel that their individual circumstances are quite different from our own and some of the advice and facts are based on hearsay and invalid opinion.

I have lived in Thailand for 13 years and I have been married to a Thai national for 10 years. I receive a UK pension every month from the British company that I worked with for 33 years. I am also receiving a UK State Pension and extra pension for my Thai wife. Yes, I do receive this extra UK pension for her as she is my dependant and caring for our young daughter. Both of these pensions are taxed at source.

When I retired from my work, my company pension was paid into my UK bank account every month. Looking to the future, I thought that it would be a good idea to convert this personal account into a joint account held by my wife and myself. In this way, my wife would have continued access to my company pension, as sole beneficiary, and also her UK Bereavement Benefit and reduced UK pension on my death. Furthermore, she would be able to obtain funds by using a debit card associated with the jointly held account. Bearing in mind that I have now banked with the same UK bank for nearly 40 years, I thought that there wouldn’t be a problem. Not so; I was informed that, at the time of my enquiry, UK Banking Regulations prohibited this because of recently introduced anti-money laundering laws by the British Government. Of course, if we resided in the UK, and had a UK address, then obtaining a joint account would be a formality. So, I continued to receive my two pensions into my UK bank.

My wife and I have two jointly held accounts in Thailand, one with the Bangkok Bank and the other with the Siam Commercial Bank. I contacted The Pensions Service and asked them what would they recommend I do so as to enable my wife to secure easy access to her pensions on my death?

Thailand, amongst other countries, does not have direct banking arrangements with the UK. Please note what I have just said; it’s got nothing to do with the UK banks or the British Government. It is not even possible to arrange a standing order to transfer money every month form my UK bank account to either of our two joint accounts in Thailand, and TAPS is not available also, because of this. My company pension provider, an extremely well known company in the UK (and the world), confirmed also that they could not make an automatic transfer every month for the same reason. One poster has suggested that you should investigate why the payment did not arrive in your bank account as The Pension Service insists that the money CAN be paid into certain bank accounts worldwide, including Thailand. This is NOT true.

So, I asked both my company and the UK Pension Service what they could do for me. They could send a crossed sterling order to me at my home in Thailand and, if I’m lucky the order would be here within a week……or get lost in the post! I would then have to deposit this order into one of our Thai bank accounts (probably as a foreign currency account in the relative Head Office in Bangkok) and the Thai bank would take up to 45 days to make the deposit available. Alternatively, they could send the crossed sterling order direct to one of our Thai banks and the wait would be the same ….or in the case of Beachcomber, more than three months!

My company pension and my UK pension could be sent by monthly automatic electronic transfer to other countries than Thailand e.g. New Zealand, Hong Kong, Jamaica, USA, etc….in all, 38 countries. Most of these suggested countries were geographically impractical but, what about Hong Kong, I thought? I contacted the Hong Kong branch of the HSBC, explained my predicament and received an extremely prompt, polite and encouraging response.

We stayed in HK last year, enjoying a short holiday and opened a joint account with the HK branch of the HSBC. Now my pensions are deposited in an electronic flash into this joint account. I have access to internet banking and we both have a debit card which we use to draw out money from an ATM in Thailand, or anywhere else for that matter…and HK is only a short inexpensive hop out of Bangkok. On my death, my wife will have minimum inconvenience in accessing her accounts.

It’s got nothing to do with “incompatible standards of transfer service” as one poster has said. Furthermore, as far as the Pension Service claiming that their software does not allow them to give online instructions to their bank for a SWIFT transfer. Balderdash!!! It’s not about software, it’s about reality. I know that’s it’s irksome and inconvenient but, as you can never change it, you must learn to accept it…or find a way around it!

I still use a bank account in the UK and it costs me £14 NOT £21 to arrange an international transfer, which is usually deposited here the next day, and my UK bank sends me a replacement credit card and debit card to my home address in Thailand when necessary.

……………….and I have the T-Shirt to prove all of this!!

Artisan,

If all thats true and I have no reason to doubt you , UK now has some screwed up banking laws.

Cheers

[thaitero]

Goto http://www.google.co.uk/pagead/iclk?sa=l&a...ROWHSBCOffshore

for HSBC Jersey. All the info needed is there.

If i go

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

and click the "online" button i get the following message below?

"Error Retrieving This Page

We are unable to process your request, Please contact CSR."

I remember i have tried same page before and i always get the same errormessage?

[diddlysquat]

just to be clear, you opened a UK bank account from Thailand which has an UK branch address and a sort code?

Or, did you open up a Thai account with GBP facilities?

To be clear I opened up an account with HSBC in Jersey , which is part of the UK.

I have GBP account , Euro (2), US$ and Thai Baht.

I have never been to Jersey.

Sounds like you got an offshore bank account. Jersey isn't part of the UK however, and consitutionally, it is seperate.

At the end of the day though, if they can pay your pension into that, then well and good.

The main UK banks have branches in Jersey which to all intents and purposes operate as part of the UK network. But these are available to RESIDENTS only.

Many banks operate in Jersey to offer "off-shore" accounts to non-residents. It is my understanding UK state pensions or government employee pensions cannot be paid into these accounts.

[diddlysquat]

Thailand, amongst other countries, does not have direct banking arrangements with the UK. Please note what I have just said; it’s got nothing to do with the UK banks or the British Government. It is not even possible to arrange a standing order to transfer money every month form my UK bank account to either of our two joint accounts in Thailand, and TAPS is not available also, because of this. My company pension provider, an extremely well known company in the UK (and the world), confirmed also that they could not make an automatic transfer every month for the same reason. One poster has suggested that you should investigate why the payment did not arrive in your bank account as The Pension Service insists that the money CAN be paid into certain bank accounts worldwide, including Thailand. This is NOT true.

So, I asked both my company and the UK Pension Service what they could do for me. They could send a crossed sterling order to me at my home in Thailand and, if I’m lucky the order would be here within a week……or get lost in the post! I would then have to deposit this order into one of our Thai bank accounts (probably as a foreign currency account in the relative Head Office in Bangkok) and the Thai bank would take up to 45 days to make the deposit available. Alternatively, they could send the crossed sterling order direct to one of our Thai banks and the wait would be the same ….or in the case of Beachcomber, more than three months!

My company pension and my UK pension could be sent by monthly automatic electronic transfer to other countries than Thailand e.g. New Zealand, Hong Kong, Jamaica, USA, etc….in all, 38 countries. Most of these suggested countries were geographically impractical but, what about Hong Kong, I thought? I contacted the Hong Kong branch of the HSBC, explained my predicament and received an extremely prompt, polite and encouraging response.

My UK company pension is paid directly into my Bangkok Bank a/c. The pension manangement company deducts 9.50GBP each month which is paid to their bank, Bank of Scotland. I have to do nothing.

I believe the process is not fully automated unlike if the payment was to say, Spain or Hong Kong and requires additional handling. This is possibly why UK state and Government employee (and some company) pensions cannot be paid direct to Thailand. Too much bother and risk of error, maybe.

Edited July 22, 2006 by diddlysquat

[percy2]

Goto http://www.google.co.uk/pagead/iclk?sa=l&a...ROWHSBCOffshore

for HSBC Jersey. All the info needed is there.

If i go

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

and click the "online" button i get the following message below?

"Error Retrieving This Page

We are unable to process your request, Please contact CSR."

I remember i have tried same page before and i always get the same errormessage?

Try the link I gave earlier.

[percy2]

just to be clear, you opened a UK bank account from Thailand which has an UK branch address and a sort code?

Or, did you open up a Thai account with GBP facilities?

To be clear I opened up an account with HSBC in Jersey , which is part of the UK.

I have GBP account , Euro (2), US$ and Thai Baht.

I have never been to Jersey.

Sounds like you got an offshore bank account. Jersey isn't part of the UK however, and consitutionally, it is seperate.

At the end of the day though, if they can pay your pension into that, then well and good.

The main UK banks have branches in Jersey which to all intents and purposes operate as part of the UK network. But these are available to RESIDENTS only.

Many banks operate in Jersey to offer "off-shore" accounts to non-residents. It is my understanding UK state pensions or government employee pensions cannot be paid into these accounts.

This is part of what I was alluding to earlier , If they can send pensions to HK as Artisan reported why couldn't they send it OFF SHORE to Jersey?

[naka]

So the question is - is it possible to open a UK bank account while here in the LOS??

Not a chance in the world!

--------------

Maestro

No problem at all Beackcomber, I've done it many times.

The easist sterling accounts to open in the UK are the International branches of banks such

as HSBC, Lloyds TSB, Barclays, Natwest etc. located in the Channel Islands or Isle of Man.

Just go to their websites and download the PDF Application forms and post the

completed forms back to them.

For example www.offshore.hsbc.com

Naka.

[diddlysquat]

just to be clear, you opened a UK bank account from Thailand which has an UK branch address and a sort code?

Or, did you open up a Thai account with GBP facilities?

To be clear I opened up an account with HSBC in Jersey , which is part of the UK.

I have GBP account , Euro (2), US$ and Thai Baht.

I have never been to Jersey.

Sounds like you got an offshore bank account. Jersey isn't part of the UK however, and consitutionally, it is seperate.

At the end of the day though, if they can pay your pension into that, then well and good.

The main UK banks have branches in Jersey which to all intents and purposes operate as part of the UK network. But these are available to RESIDENTS only.

Many banks operate in Jersey to offer "off-shore" accounts to non-residents. It is my understanding UK state pensions or government employee pensions cannot be paid into these accounts.

This is part of what I was alluding to earlier , If they can send pensions to HK as Artisan reported why couldn't they send it OFF SHORE to Jersey?

EDITED>

I am wrong. UK state pensions can be paid into a Jersey off-shore account. Apologies for misinformation

Edited July 22, 2006 by diddlysquat

[billzant]

Dear Forum,

DHL have just refused to deliver my debit cards from my credit card billing address to my address in Thailand. Yet DHL will do it for HSBC! Why wouldn't HSBC send my credit cards to HSBC in Silom for me to pick them up? Why does that help stop international terrorism and money-laundering?

I am now looking at sending by Royal Mail using "International Sign Off".

Hope you are keeping well,

All the Best

Bill Z

[Noel]

I still use a bank account in the UK and it costs me £14 NOT £21 to arrange an international transfer, which is usually deposited here the next day, and my UK bank sends me a replacement credit card and debit card to my home address in Thailand when necessary.

For First Direct the fixed charge for international transfers is £21, so you are doing well at £14 a pop.

All correspondence from them is sent to my home address in Thailand and they seem to have no issue with sending new bank cards, credit cards etc to my Thai address. The same applies to the Co-operative Bank.

I also have an offshore account with Yorkshire Guernsey. Transferring money to them from UK is the same as transferring within UK, i.e. free. They use sort code 60-00-01, as do many other banks it seems. I imagine it is some kind of central clearing facility within the UK banking system.

On a more ridiculous note, Natwest Access have been sending me monthly statements for the past ten years, yet will not send a new card to me here since my card expired in 1996.

I suspect they do that because my credit card account with them is in credit to the tune of £0.18...

[naka]

Dear Forum,

DHL have just refused to deliver my debit cards from my credit card billing address to my address in Thailand. Yet DHL will do it for HSBC! Why wouldn't HSBC send my credit cards to HSBC in Silom for me to pick them up? Why does that help stop international terrorism and money-laundering?

I am now looking at sending by Royal Mail using "International Sign Off".

Hope you are keeping well,

All the Best

Bill Z

Yes, funny this.

DHL refused to accept a card my brother was trying to send to me.

But they will accept the cards from the bank to deliver to me.

Fedex told my brother if he opened an account and paid the freight charges

by card (not cash) then they would deliver a card to me.

Naka.

[Beachcomber]

Thank u all for the replies, lot of information for me to work on.

Unfortunately I don’t have any family in UK to provide an address and don’t want to burden friends with something that could go on for decades. Also anything in Thailand is in wife’s name so really don’t have much proof that I actually exist.

Beachcombing ain’t what it used to be and the only reason for the need of a UK bank Acc is for the Government pension.

Can you open an account without any money? There would be no worries about money laundering.

ARTISAN - Your situation is almost identical to mine and make some good valid points.

NAKA - I will definitely follow up your link – Can it really be that easy?

Again thank you all - keep Em’coming

Beachcomber

[billzant]

Yes, funny this.

DHL refused to accept a card my brother was trying to send to me.

But they will accept the cards from the bank to deliver to me.

Fedex told my brother if he opened an account and paid the freight charges

by card (not cash) then they would deliver a card to me.

Naka.

Dear Naka,

My mind is starting conspiracy theories!! DHL + HSBC OK. DHL + people NOT OK.

Anyway if that's what it is!

Is your account with HSBC? Do you have your credit card billing address here in Thailand? Was it difficult to setup? Email by internet banking?

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Hope you are keeping well,

All the Best

Bill Z

[thaitero]

Goto http://www.google.co.uk/pagead/iclk?sa=l&a...ROWHSBCOffshore

for HSBC Jersey. All the info needed is there.

If i go

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

and click the "online" button i get the following message below?

"Error Retrieving This Page

We are unable to process your request, Please contact CSR."

I remember i have tried same page before and i always get the same errormessage?

Try the link I gave earlier.

Same errormessage when trying to apply online

[DD18]

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

Best to ring HSBC offshore to open account. They part fill in forms and will email to you with reference no.

Opened account with them 18 months ago, only problem trying to get direct debit (UK) set up (HSBC UK debit section did not recognise offshore account!) Have transferred money to SCB by internet no problems. Monthly charge if accounts across the board drop below £5000. If UK resident they deduct tax. No charges to transfer to other HSBC accounts across the world.

[Khun Bob]

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

Best to ring HSBC offshore to open account. They part fill in forms and will email to you with reference no.

Opened account with them 18 months ago, only problem trying to get direct debit (UK) set up (HSBC UK debit section did not recognise offshore account!) Have transferred money to SCB by internet no problems. Monthly charge if accounts across the board drop below £5000. If UK resident they deduct tax. No charges to transfer to other HSBC accounts across the world.

HSBC offshore are very good on the phone.

Could you confirm that HSBC offshore do not charge for transfers to other parts of the group.

To open an HSBC account on thailand you need to deposit 500000 baht and probably have a work permit - thailand doesnt seem to recognise people that are retired regardless of age... I get the deeling they only want high rollers... Still if you walk in with a couple of million baht maybe their policy would change...

I ask this as i have an hsbc account in malaysia and would like to do some transfers - getting an account in malaysia can be alot less problematic than thailand...

Cheers

[naka]

NAKA - I will definitely follow up your link – Can it really be that easy?

Beachcomber.

Much easier to open an account in CI. or I.O.M. if you are an expat.

If you try to open a mainland account they will probably suggest an offshore account.

The offshore banks deal with many expats and understand their special situations.

For example most banks want utility bills as proof of residence, whereas the offshore banks

understand that many expats live in rented condo's, serviced apartments, company housing etc.

and so do not receive utilitiy bills.

Last time I opened an account I sent the application form, Photocopy of passport details page

stamped and signed by a local lawyer (Bt500), receipt of monthly condo bill and a letter

from the condo manager stating the time spent living there.

This account gave me a Debit card, internet and telephone banking.

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Billzant, No disadvantage in not having a UK address. The account in C.I. and

I.O.M. work exactly the same as mainland accounts.

If your billing and residential address is in Thailand then they will not deduct

the EU Retention Tax which is currently 15% and due to go up next year I think to 25%.

This tax only applies to people residing in the EU.

Even if your address is in the EU you can opt not to have the tax deducted, but by

doing so you have agreed to allow the bank to share your account information

with the UK tax office.

Beachcomber.

Abbey National Jersey are expat friendly, see their PDF application form below.

AbbeyInternational

If you live in a house with your wife then perhaps you could get the electric bills changed to

joint names ?. This would make things easier.

Naka.

Edited July 23, 2006 by naka

[billzant]

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Billzant, No disadvantage in not having a UK address. The account in C.I. and

I.O.M. work exactly the same as mainland accounts.

If your billing and residential address is in Thailand then they will not deduct

the EU Retention Tax which is currently 15% and due to go up next year I think to 25%.

This tax only applies to people residing in the EU.

Even if your address is in the EU you can opt not to have the tax deducted, but by

doing so you have agreed to allow the bank to share your account information

with the UK tax office.

Naka.

Dear Naka,

Thanks for this.

It looks like I will change my credit card billing address to my Thai address. But I will wait in case there are any issues. It seems the only problem is the cards and they are trying to be put in transit!! So no urgency at the moment.

I have completed the EU exemption so tax office have details - of course I didn't know!

Hope you are keeping well,

All the Best

Bill Z

[Mobi]

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Billzant, No disadvantage in not having a UK address. The account in C.I. and

I.O.M. work exactly the same as mainland accounts.

If your billing and residential address is in Thailand then they will not deduct

the EU Retention Tax which is currently 15% and due to go up next year I think to 25%.

This tax only applies to people residing in the EU.

Even if your address is in the EU you can opt not to have the tax deducted, but by

doing so you have agreed to allow the bank to share your account information

with the UK tax office.

Naka.

Dear Naka,

Thanks for this.

It looks like I will change my credit card billing address to my Thai address. But I will wait in case there are any issues. It seems the only problem is the cards and they are trying to be put in transit!! So no urgency at the moment.

I have completed the EU exemption so tax office have details - of course I didn't know!

Hope you are keeping well,

All the Best

Bill Z

There is another VAT point here that you may not be aware of.

When you buy something over the net, and your address is in the EU, you may be subject to VAT. If your address in outside the EU, they will not levy VAT. I became aware of this when I bought some 'credit' on the net for Skype out, using my Abbey National Visa card with a Thai bhilling address. I bought the credit vat free, but would have had to pay vat if I had used a UK address.

Others may have more knowledge/exerience on this, as I rarely buy anything from the EU for shipment to Thailand.

[DD18]

http://www.offshore.hsbc.com/1/2/internati...urrent-accounts

Best to ring HSBC offshore to open account. They part fill in forms and will email to you with reference no.

Opened account with them 18 months ago, only problem trying to get direct debit (UK) set up (HSBC UK debit section did not recognise offshore account!) Have transferred money to SCB by internet no problems. Monthly charge if accounts across the board drop below £5000. If UK resident they deduct tax. No charges to transfer to other HSBC accounts across the world.

HSBC offshore are very good on the phone.

Could you confirm that HSBC offshore do not charge for transfers to other parts of the group.

To open an HSBC account on thailand you need to deposit 500000 baht and probably have a work permit - thailand doesnt seem to recognise people that are retired regardless of age... I get the deeling they only want high rollers... Still if you walk in with a couple of million baht maybe their policy would change...

I ask this as i have an hsbc account in malaysia and would like to do some transfers - getting an account in malaysia can be alot less problematic than thailand...

Cheers

No charges to transfer money between HSBC accounts in different countries, have only done transfers both ways between mainland UK, offshore and Dubai, not charged by any. Did not open account in Bangkok as not convenient (based in Phuket) but was advised to get recommendation letters from UK branch to show when opening account, did this with Dubai. HSBC charge £25 to transfer to SCB.

Offshore branch does want to know what money you are going to deposit but are obviously quite happy to charge when balance drops!

SCB account opened with O visa, 500 baht and no work permit.

[libya 115]

Just a small point:

My offshore bank account in the I.O.M. DOES offer me the facility of a standing order on a telegraphic transfer.

So automatically, you can set up cash from your offshore current account to your nominated Thai account at an interval best for you (I opted for every 3 months), this costs me 13 GBP every 3 months.

It avoids any hassle on telephone/fax and they can't mess up the account numbers because they have a hard copy.

It is also a saving on using ATM's both for 1.5% fee and exchange rate.

[Khun Bob]

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Billzant, No disadvantage in not having a UK address. The account in C.I. and

I.O.M. work exactly the same as mainland accounts.

If your billing and residential address is in Thailand then they will not deduct

the EU Retention Tax which is currently 15% and due to go up next year I think to 25%.

This tax only applies to people residing in the EU.

Even if your address is in the EU you can opt not to have the tax deducted, but by

doing so you have agreed to allow the bank to share your account information

with the UK tax office.

Naka.

Dear Naka,

Thanks for this.

It looks like I will change my credit card billing address to my Thai address. But I will wait in case there are any issues. It seems the only problem is the cards and they are trying to be put in transit!! So no urgency at the moment.

I have completed the EU exemption so tax office have details - of course I didn't know!

Hope you are keeping well,

All the Best

Bill Z

There is another VAT point here that you may not be aware of.

When you buy something over the net, and your address is in the EU, you may be subject to VAT. If your address in outside the EU, they will not levy VAT. I became aware of this when I bought some 'credit' on the net for Skype out, using my Abbey National Visa card with a Thai bhilling address. I bought the credit vat free, but would have had to pay vat if I had used a UK address.

Others may have more knowledge/exerience on this, as I rarely buy anything from the EU for shipment to Thailand.

Good point - How do the company you are purchasing from know not to charge VAT ? Do they check the address they have on file for where you are ?

I ask as I may be in my interest to charge my credit card address to outside of the EU (Europe or where VAT applies). Like you I recencly purchased some more credit on voipcheap and noticed they quote proces exclusive of vat - i wonder if i had my credit card address out of the EU - would i be charged or would i have to claim back ?

Cheers

[Mobi]

Are there disdavantages with not having a UK address?

What about EU directive - tax they recently started?

Billzant, No disadvantage in not having a UK address. The account in C.I. and

I.O.M. work exactly the same as mainland accounts.

If your billing and residential address is in Thailand then they will not deduct

the EU Retention Tax which is currently 15% and due to go up next year I think to 25%.

This tax only applies to people residing in the EU.

Even if your address is in the EU you can opt not to have the tax deducted, but by

doing so you have agreed to allow the bank to share your account information

with the UK tax office.

Naka.

Dear Naka,

Thanks for this.

It looks like I will change my credit card billing address to my Thai address. But I will wait in case there are any issues. It seems the only problem is the cards and they are trying to be put in transit!! So no urgency at the moment.

I have completed the EU exemption so tax office have details - of course I didn't know!

Hope you are keeping well,

All the Best

Bill Z

There is another VAT point here that you may not be aware of.

When you buy something over the net, and your address is in the EU, you may be subject to VAT. If your address in outside the EU, they will not levy VAT. I became aware of this when I bought some 'credit' on the net for Skype out, using my Abbey National Visa card with a Thai bhilling address. I bought the credit vat free, but would have had to pay vat if I had used a UK address.

Others may have more knowledge/exerience on this, as I rarely buy anything from the EU for shipment to Thailand.

Good point - How do the company you are purchasing from know not to charge VAT ? Do they check the address they have on file for where you are ?

I ask as I may be in my interest to charge my credit card address to outside of the EU (Europe or where VAT applies). Like you I recencly purchased some more credit on voipcheap and noticed they quote proces exclusive of vat - i wonder if i had my credit card address out of the EU - would i be charged or would i have to claim back ?

Cheers

I didn't pay any VAT. It was some time ago, but when I gave my CC details, the billing address was Thailand, so I guess that made it acceptable.