Santander UK Kills Debit Cards with Thai address, Downgrades Country To Restricted List

[onemorechang]

Just talked to Santander in Jersey (I bank with them)

They said no problem with debit card sent to Thailand or your address in Thailand.

so what's going on Op ?

[cooked]

Bank account in Thailand, debit card, standing order to this account. Why use a foreign credit/debit card here if you are more or less resident here?

[Jaggg88]

Why is it one of the restricted countries? What's changed?

Fraud - obviously Santander has decided the level of fraudulent transactions has become unacceptable. I've read many stories on here about card cloning and accounts being emptied etc

[The manic]

Thailand has always been viewed with suspicion by UK hight street banks because of the high degree of fraudulent transactions. Remember the days when the hippies and back packers sold their travellers cheques and passports for a 1000 dollars plus? But anyway, now the country is perceived to be unstable and under the heel of yet another passing set of jack boots, unaccountable to anyone, it does not make the situation any better. The perception is that any Thai swindler with the ear of the regime would be beyond the law. The same is happening on a macro political/economic level. The current crowd are regarded with the same disdain as Chavez et al.

[bifferted]

Well ive got one I bank mainly with Santander and used them for quite a few years all over the world the latest being three months in Thailand in feb,march and april this year .arrived in Thailand again on October 16 having arranged all with Santander again for my 2month visit and guess what went to ATM4 days into visit and cannot get a <deleted> penny out of my wellpadded account sonnow have to rely on a high priced credit card fromanother bank I only keep for car hire . <deleted> tossers guess who is going to move an account when I get back

[nithisa78]

Thanks.

You are gifted writer.

[Tony125]

My American Credit Debit cards all have an American address as my banks refused to send the cards to Thailand. I list myself at a relative's address and they send my cards as they expire and are replaced.

One of my USA banks does not have a branch in Thailand but when my card expired they FedEx one to my home here. When my CitiBank expired they had me pick it up at the main Citibank branch here in Bangkok.

[KittenKong]

Just talked to Santander in Jersey (I bank with them)

They said no problem with debit card sent to Thailand or your address in Thailand.

so what's going on Op ?

The rules applied by offshore branches are very different.

The OP is actually quite lucky to have been able to retain his onshore account at all once he gave an address in Thailand. Many onshore UK banks would have dumped him straight away.

[CaptHaddock]

Bank account in Thailand, debit card, standing order to this account. Why use a foreign credit/debit card here if you are more or less resident here?

Guaranteed fraud protection, of course. Lower interest rates would also matter for those who keep a balance.

Edited November 11, 2014 by CaptHaddock

[CaptHaddock]

There is just no percentage in providing an address in Thailand to banks, brokerage firms, or other institutions back in the old country. The one exception for Americans is the Social Security Adminstration. Even if the bank in question has a history of providing full services to a depositor whose address is in Thailand, that policy can suddenly change and there won't be any grandfathering in.

So, mail forwarding company in the old country providing a street address, VOIP phone number from the old country, and lots of bank accounts and credit cards. Right now that setup gives us the best chance of preserving access to services. That may change in the future, of course.

[Expat1]

Seems FNGs never learn until too late. It has been a maxim here for decades, one never keeps their funds in an English speaking country's bank or finance house. Ever. First, thing you do when you have decided you are staying in the region is to go to Hong Kong , Singapore or Malaysia and open up personal and company bank accounts and start moving your funds there and keeping a minimum back there at birth home if you wish. Then you declare your overseas address as domicile. Plenty of old hands around to help you with this stuff. As for the FACTA guys well you gotta look after yourselves but not many banks overseas want Americans as depositors anymore but for the rest of you try and plan ahead. It is going to get a lot worse.

[Gentmartin]

Just a note about paypal.....

We buy kids books from UK book stores, ship them here and sell them, and we have been stopped from using Paypal (wifes thai paypal account). All the payment processors we normally use say they no longer accept pay pal as payment from Thai accounts.

A little off topic sorry, but thought it might be of interest.

[SpaceKadet]

I too bank with Santander Offshore in Jersey, and was worried about the statements in OP. I send them an email asking for clarification, and this is the official answer:

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

Dear Mr <SpaceKadet>

Thank you for your email dated 10 November 2014.

If your account is held with us – Santander Private Banking in Jersey the changes in procedures of Santander UK will not affect you.

We have a number of clients who live in Thailand and we send cards there using courier company.

Our procedures regarding clients who live in Thailand are not changing.

If you have any further queries, please contact us on 0845 054 4000, or +44 (0)1534 885 000 if calling from overseas. We are here from 8.00am-8.00pm (UK time) Monday to Friday.

Yours sincerely

Artur Toczyski
Private Banking Client Support

Santander Private Banking, PO Box 545, 19-21 Commercial St, St Helier, Jersey, JE4 8XG
Tel: 0845 054 4000 or + 44 (0) 1534 885 000
Email: [email protected]

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

So it seems we are OK with the offshore branch, at least for the time being.

[canuckoverseas]

Our card was frozen by santander jersey (offshore) last week , their explanation was that every 2 years they do a check of address and source of income. Had to fill out some papers and courier it off, with hope everything will be back to normal by Friday. same old reasons, tighter scrutiny over tax evasion, terrorism, ect.... Lesson is, always have a backup account !

Edited November 12, 2014 by canuckoverseas

[SheungWan]

A friend had (and may still have) an account with Santander. Every time we spoke he would spit blood about the poor service he got from Santander. So why don't you switch banks? I asked. The real answer I eventually dragged out of him was that he received a favourable interest rate on his deposits which he wasn't prepared to lose in any switch. The bottom line was that he was prepared to put up with it. So no more friendly ear from me. Is it more of the same re this thread?

[SpaceKadet]

I didn't say Santander Private Banking gives great service. I've been banking with them since they were Tyndal based on Isle of Man. The service has been declining since they went to Cater Allen, then on to Abbey, move to Jersey.... I have looked into switching banks several times, but now it's getting harder and harder to open a new account for an expat, especially in an offshore bank. HSBC Offshore, for example, want me to maintain a balance of GBP60.000. That's just plain ridiculous. It is actually quite expensive to keep money in the bank. You don't get any interest and they charge you for everything. If it wasn't for that little piece of plastic that is impossible to be without now, I would keep my money in gold bars or similar in my mattress...

[SheungWan]

I didn't say Santander Private Banking gives great service. I've been banking with them since they were Tyndal based on Isle of Man. The service has been declining since they went to Cater Allen, then on to Abbey, move to Jersey.... I have looked into switching banks several times, but now it's getting harder and harder to open a new account for an expat, especially in an offshore bank. HSBC Offshore, for example, want me to maintain a balance of GBP60.000. That's just plain ridiculous. It is actually quite expensive to keep money in the bank. You don't get any interest and they charge you for everything. If it wasn't for that little piece of plastic that is impossible to be without now, I would keep my money in gold bars or similar in my mattress...

Since the HSBC offshore requirement minimum balance requirement can be held in savings or investments (eg shares) purchased through HSBC why do you say it is either 'ridiculous' or 'expensive' to keep funds with them? What they are doing is setting a bar for expat accounts in Jersey equivalent to the minimum balance bar required to hold a Premier account in different countries eg UK 50K pounds, HK 1million HKD.

[SpaceKadet]

All I am saying is that GBP60K is close to USD100K. And that, IMO, is a fair amount of money to be locked in a single bank. And that's without getting anything for it. The usable money in the account is on top of the requirement. I am not a financial wizkid so can't make money grow with nothing, I have to actually work for my salary. The banks, in my opinion have lost all the credibility, and need a serious restructure. A realization that you cannot produce money from vapor would be a good start. And just yesterday on BBC, several of worlds major banks, among them HSBC were fined billions of dollars for shody transactions. I just wonder where they get the money to pay those fines, certainly not from their "savings".

[Anon999]

It's no coincidence that this happened with at least one UK bank and a US bank at the same time.

I wonder why ?

Santander is a Spanish Bank.

[Anon999]

Santander, UK ...

What a bank! I do so regret not changing banks before I moved here to Chiang Mai. For anybody in the UK about to go through the process of obtaining a non-immigrant O-A visa with a view to moving here to Thailand, a cautionary tale ... a head's up, so to speak.

Whilst getting my documentation together for the visa application, I requested a bank statement so I could show evidence of funds. No problem said Santander, only it can take up to three weeks to arrive. Well, in the end it took four weeks before they concluded that the statement "was probably lost in the post". In the end, I had to get a mini-statement printed out at my local branch and get it stamped and signed by the manager.

Prior to flying out of the UK, I was told that transferring funds to my Thai bank account here in Thailand via telephone banking was "no problem whatsoever". Ha-ha, when I tried it I was told that for security reasons they had to phone me back on my number here in Thailand. "No problem" I said, "I'll hang up and you can ring me back." ... "Oh I can't do that. Your telephone number you've just given me has to be on the system for 30 days before we can do an international transfer to you via telephone banking." (Had I been told that when I enquired about the procedures for telephone banking transfers abroad, I would have registered my telephone number with them as soon as I had it, i.e. August).

They refused to allow me the use of my ATM card for longer than eight weeks, so here I am with what's left of the cash I brought over here with me, and I cannot make a transfer until after November 14.

People, if you are with Santander UK, beware ... IME, they don't make it easy for you to get at your own money!

Totally agree and they do not tell you what restrictions are imposed. I asked my branch to get a new PIN for my Santander CashCard, delivered to them for collection. No problem they said. No chance they will only deliver it to a UK address, not a branch. They also make int'l funds transfers difficult and convoluted so always use my Nationwide account for those as it is straightforward and I also have a Card Reader.

So far in the recent past Santander have voluntarily made three credits to my accounts as a result of complaints. Maybe I can get them to make some more!

[SheungWan]

All I am saying is that GBP60K is close to USD100K. And that, IMO, is a fair amount of money to be locked in a single bank. And that's without getting anything for it. The usable money in the account is on top of the requirement. I am not a financial wizkid so can't make money grow with nothing, I have to actually work for my salary. The banks, in my opinion have lost all the credibility, and need a serious restructure. A realization that you cannot produce money from vapor would be a good start. And just yesterday on BBC, several of worlds major banks, among them HSBC were fined billions of dollars for shody transactions. I just wonder where they get the money to pay those fines, certainly not from their "savings".

I am not sure why you continue to say that you don't get anything for the minimum requirement after I have pointed out that the minimum requirement can be held in investments that do yield returns.

[CraigSchuler]

I am the OP from the other thread regarding American banks, I have always used an address in America and all my cards are blocked for use on a regular basis. They did offer a release of funds but only for a limited window of time i.e. a planned vacation.

[Langsuan Man]

I am the OP from the other thread regarding American banks, I have always used an address in America and all my cards are blocked for use on a regular basis. They did offer a release of funds but only for a limited window of time i.e. a planned vacation.

Then you should get a new bank. There are literally hundreds of US citizens here in Thailand that have never had a problem with their bank or credit cards being accepted

And just because you title a thread American banks have blocked ATM use in Thailand! Doesn't mean ALL American banks have blocked ATM use in Thailand, your bank has blocked use of your card in Thailand, leave the rest of us out of it

[SpaceKadet]

All I am saying is that GBP60K is close to USD100K. And that, IMO, is a fair amount of money to be locked in a single bank. And that's without getting anything for it. The usable money in the account is on top of the requirement. I am not a financial wizkid so can't make money grow with nothing, I have to actually work for my salary. The banks, in my opinion have lost all the credibility, and need a serious restructure. A realization that you cannot produce money from vapor would be a good start. And just yesterday on BBC, several of worlds major banks, among them HSBC were fined billions of dollars for shody transactions. I just wonder where they get the money to pay those fines, certainly not from their "savings".

I am not sure why you continue to say that you don't get anything for the minimum requirement after I have pointed out that the minimum requirement can be held in investments that do yield returns.

I suppose this discussion would be better off in its own topic. For me USD100k is a fair amount of money, and to close some investments that are still ticking over just to start a new unsure future, is not on the table. If 100K is pocket change to you, then obviously we have a different frame on reference, and let's just leave it at that.

In the end, it's a matter of trust. And nowadays, in my opinion, the banks, even the major players, have just used it all up. I'm not crying, merely pointing out the fact. There are plenty of other off-shore financial institutions that do not have the same requirements. And then, of course, there are the national banks.

For the time being, I'll stay with Santander Private Banking on Jersey.

[canuckoverseas]

Offshore banking just isnt as profitable as it used to be, many are closing down and under increasing scrutiny. Perhaps that has something to do with the heightened deposit requirements. Santander raised them a few years ago after phasing out abbey. Anyway, they keep the money safe, can't expect much more from them unless your talking about millions.

Edited November 15, 2014 by canuckoverseas

[CaptHaddock]

All I am saying is that GBP60K is close to USD100K. And that, IMO, is a fair amount of money to be locked in a single bank. And that's without getting anything for it. The usable money in the account is on top of the requirement. I am not a financial wizkid so can't make money grow with nothing, I have to actually work for my salary. The banks, in my opinion have lost all the credibility, and need a serious restructure. A realization that you cannot produce money from vapor would be a good start. And just yesterday on BBC, several of worlds major banks, among them HSBC were fined billions of dollars for shody transactions. I just wonder where they get the money to pay those fines, certainly not from their "savings".

I am not sure why you continue to say that you don't get anything for the minimum requirement after I have pointed out that the minimum requirement can be held in investments that do yield returns.

I suppose this discussion would be better off in its own topic. For me USD100k is a fair amount of money, and to close some investments that are still ticking over just to start a new unsure future, is not on the table. If 100K is pocket change to you, then obviously we have a different frame on reference, and let's just leave it at that.

In the end, it's a matter of trust. And nowadays, in my opinion, the banks, even the major players, have just used it all up. I'm not crying, merely pointing out the fact. There are plenty of other off-shore financial institutions that do not have the same requirements. And then, of course, there are the national banks.

For the time being, I'll stay with Santander Private Banking on Jersey.

SpaceKadet, you are scoring low on the reading comprehension portion of today's test. What SheungWan has been trying to point out to you is that you could transfer some stock or bond position from your current broker to a brokerage account at HSBC having a value of USD 100k or more. Then the value of USD 100k in your new HSBC brokerage account meets the criteria for maintaining an HSBC Premier account. You can then have a checking or saving account or credit card with HSBC without any further requirement to maintain a minimum balance. As long as you merely hold your stock or bond position in the HSBC brokerage account without trading it, you will not incur any trading commissions or other costs. If you do trade, you will find HSBC's commissions are more expensive than some other brokers, but that doesn't matter if you simply hold the position without trading. So no need to "close some investments" at all.

You are also confused about the issue of trust. Trusting that your money is safe in your HSBC accounts is not the same as trusting that large banks like HSBC are conducting their business in an ethical way, such as by not taking advantage of loopholes in banking laws to foist investment risk on the taxpayers. Whatever you think of the ethics of HSBC, your deposits with them are going to be safe, as long as you are not above the limit of deposit protection in the UK. HSBC is not going to steal your money. Santander Bank in Spain had large problems during the banking crisis of 2008 as I remember while HSBC was one of the first to report publicly their own problems and take steps to reduce risk.

However, it's "up to you" as the local saying goes.

[SpaceKadet]

Thanks for the explanation Capt. You are correct, i did not understand SheungWans point. I am just an IT nerd, and as good at the finer points of banking, as you probably are at penetrating that same banks IT infrastructure.

[CaptHaddock]

All the more reason that we IT nerds, past and present, should stick together.

[alanzo]

I maintain a UK address. I have several cards but only use my Halifax 'clarity' card in Thai.

For purchases, no charges & 0% MasterCard rate. ie. no loading.

When I must use an ATM, rarely, I only pay the 180 B Thai bank charge. I refuse their conversion as my card's is always better.

I did not tell my bank I was going to be in Thai for 5 years, when I mentioned to a tel. clerk my travel plans she advised do so in the future.

I only have accounts in 1 Thai bank, because I can operate my banking & credit cards online easily.

If you have a UK address you may wish to have a decko at above.

If you open 'money saving expert , com they provide all UK comparisons.