Which Expat UK Bank

[chiang mai]

Despite me having sung the praises of HSBC UK for the past thirty five years I now find myself needing to open a UK/offshore UK based bank account, it seems that after eleven years here HSBC UK thinks I should no longer have one of their accounts, this despite a long standing mid to upper five figure balance. But, this is not about HSBC and their behavior:

I WANT to have a UK/offshore based bank account to receive and send payments in Sterling.

I have several accounts in Asia including UOB and CIMB, none of them cost me much at all other than transaction charges.

Which bank account where do you recommend for this scenario? Note: I am retired and I don't need cheque book, internet, whistles and bells etc.

Thanks in advance.

[Soutpeel]

Give Citi international personal banking a look up belive based in London, if they half as good as the Singapore end of the same bank you should be onto a winner, havent been involved with the UK end and only Singapore, but look at opening a Citigold account with them dont know what the minimum opening is in the UK, but Singapore is USD150k, but lets say GBP 100k would about right ? Comparable to HSBC Premier

[topt]

CM your brief seems a little contradictory as you said you want to send and receive payments but then you say you do not need internet. How are you going to make payments (other than telephone banking which would be more expensive)?

Have you looked at Barclays International or Lloyds International - both of which would have much lower thresholds I would think?

[Jip99]

In theory you won't get a UK based account.

The wording now reads "You have to be a UK resident".

Trying to open a bank account in the UK is rather like pulling hens' teeth.

Would a Sterling account with a Thai bank work for you ?

I wish you well and I am genuinely interested in how you get on.

[chiang mai]

CM your brief seems a little contradictory as you said you want to send and receive payments but then you say you do not need internet. How are you going to make payments (other than telephone banking which would be more expensive)?

Have you looked at Barclays International or Lloyds International - both of which would have much lower thresholds I would think?

My UK Sterling account is subject to the same in and outbound transactions every month, none of which require my intervention. Additionally, my UK Barclaycard is drawn on my UK account, a requirement of the card. Infrequently I also make one off transactions and whilst it would be nice to be able to make these via the internet, they can be made by telephone. The nice part about the HSBC account was that it didn't cost me anything and didn't require me to keep a minimum balance, ever since I ditched Premier in favour of a regular ordinary bank account, plus it still had internet facilities.

I will look at Barclays and Lloyds.

[chiang mai]

In theory you won't get a UK based account.

The wording now reads "You have to be a UK resident".

Trying to open a bank account in the UK is rather like pulling hens' teeth.

Would a Sterling account with a Thai bank work for you ?

I wish you well and I am genuinely interested in how you get on.

I could possibly make a Thai based GBP account work for me although some of the many advantages of the HSBC UK account (for me) was that it existed in a different jurisdiction, was subject to a different deposit protection scheme, was UK based thus allowing my UK Barclaycard to direct debit from it, etc.

[Jip99]

In theory you won't get a UK based account.

The wording now reads "You have to be a UK resident".

Trying to open a bank account in the UK is rather like pulling hens' teeth.

Would a Sterling account with a Thai bank work for you ?

I wish you well and I am genuinely interested in how you get on.

I could possibly make a Thai based GBP account work for me although some of the many advantages of the HSBC UK account (for me) was that it existed in a different jurisdiction, was subject to a different deposit protection scheme, was UK based thus allowing my UK Barclaycard to direct debit from it, etc.

Can I ask why HSBC fell out of love with you ?

I ask as such decisions have potential ramifications for other Thai expats.

[SantiSuk]

I'm probably in the same boat then. After the b@$tards dumped us in the river in Thailand (have been pleased with their recommendation of Krungsri Exclusive for replacement accounts) I was inclined to dump them in the UK as well but it was beneficial to keep a UK account and it would have been difficult to sign up another (and it's always a fag changing all your banking connections for a primary account anyway).

I too have maintained a lot of money with them for little return - 6 figure sums in Premier Accounts/time deposits.

I had already asked my experienced (Singapore-based/UK trained/UK firm - Fry Group) expat financial adviser about where to go for offshore banking. He recommended Nationwide or Santander* (Jersey/Guernsey) if you are looking for Sterling-denominated accounts, adding that there is little to choose when it comes to service on current accounts, but these two seem to provide decent rates on term deposit accounts in recent times. If you are not wanting to put any of your standby cash on term deposit then I guess there is no clear preference.

I have not dome the switch yet but my sister tells me that there is a long letter/questionnaire from HSBC, which she will go through with me on the phone when she gets back from holiday! They already know that I live in Thailand and went to great pains to get my Thai address as well a couple of years ago.

*Yeah I know Abbey Nat/Santander were rubbish in the UK on service in the noughties and a bit beyond, but they have got much crisper in recent years - decent products and well-trained branch staff (the latter is pretty rare in UK banking - most don't know their proverbial from their elbow).

[chiang mai]

I'm probably in the same boat then. After the b@$tards dumped us in the river in Thailand (have been pleased with their recommendation of Krungsri Exclusive for replacement accounts) I was inclined to dump them in the UK as well but it was beneficial to keep a UK account and it would have been difficult to sign up another (and it's always a fag changing all your banking connections for a primary account anyway).

I too have maintained a lot of money with them for little return - 6 figure sums in Premier Accounts/time deposits.

I had already asked my experienced (Singapore-based/UK trained/UK firm - Fry Group) expat financial adviser about where to go for offshore banking. He recommended Nationwide or Santander* (Jersey/Guernsey) if you are looking for Sterling-denominated accounts, adding that there is little to choose when it comes to service on current accounts, but these two seem to provide decent rates on term deposit accounts in recent times. If you are not wanting to put any of your standby cash on term deposit then I guess there is no clear preference.

I have not dome the switch yet but my sister tells me that there is a long letter/questionnaire from HSBC, which she will go through with me on the phone when she gets back from holiday! They already know that I live in Thailand and went to great pains to get my Thai address as well a couple of years ago.

*Yeah I know Abbey Nat/Santander were rubbish in the UK on service in the noughties and a bit beyond, but they have got much crisper in recent years - decent products and well-trained branch staff (the latter is pretty rare in UK banking - most don't know their proverbial from their elbow).

Nationwide does provide an alternative for many, not for me however since I fell out with them last year because they lied to me and cheated me out of 84 Pounds in interest which I subsequently won back via the IOM Financial Ombudsman. But HSBC:

HSBC has been running a program called Safeguard, it's stated purpose is one thing (google HSBC safeguard) but in reality it is aimed at seeing if any of their overseas customers represent risk of fraud or can potentially impact them negatively in the US, customers must live in countries acceptable to the US government, it's called de-risking, I have another name for it.

Anyway, the Safeguard program requires a two hour telephone interview about every aspect of your finances, how much do you have, where it came from, where's it stashed. future plans, value of real assets (and their addresses), income sources and more, it's slightly nighmarish at first but it's actually not too bad. I took the position that I have nothing to hide and telling them everything was actually OK, for me, others may take a different view, the chap on the other end of the phone was actually quite OK to deal with and before our chat ended we had chatted about his future plans and his father who lives in the PI etc.

When that chat was finished I had to supply them with certified copies of this and that, for which they promptly reimbursed me, later a letter from them explained that all was as well and sorry for the inconvenience. It therefore came as a surprise to receive a form letter telling me I had 30 days to move my funds before the account would be closed.

But all's well that ends well. I spoke with HSBC yesterday to try to get them to change their mind and they initially denied sending the letter, a subsequent review by them showed that such letters were sent centrally and mine had been sent in error, they said, "sorry, grovel, bow, scrape, grovel:"!

I am relieved, panic over. BTW as you've probably gathered HSBC is quite happy with me living in Thailand as they have been for the past eleven years hence I wouldn't be afraid of telling them your address.

[al007]

LLoyds International Isle of Man, Premier account need to maintain min balance pounds Sterling 2500 then no bank charges

International transfers free

UK transfers free

Internet and telephone banking

I opened my lloyds account when here I have a visa debit card and it has my Thailand address, yes I had to be patient, yes it took a long time BUT ABSOLUTELY first class to have

I recently made the account joint with my wife, a bit of a struggle but got there eventually, and good for planning when I die account will continue no hastle, if left until after I dia there is no way they would give my wife an account, but now that has been overcome

I send pounds sterling to Bank Bangkok sterling account, better to buy Batt as and when here (I also use this account for my cash for marriage extension)

I have internet banking with both Lloyds and Bangkok Bank, can see all my various accounts, and do all transfers

All works very well for me at little or no cost

[Jip99]

LLoyds International Isle of Man, Premier account need to maintain min balance pounds Sterling 2500 then no bank charges

International transfers free

UK transfers free

Internet and telephone banking

I opened my lloyds account when here I have a visa debit card and it has my Thailand address, yes I had to be patient, yes it took a long time BUT ABSOLUTELY first class to have

I recently made the account joint with my wife, a bit of a struggle but got there eventually, and good for planning when I die account will continue no hastle, if left until after I dia there is no way they would give my wife an account, but now that has been overcome

I send pounds sterling to Bank Bangkok sterling account, better to buy Batt as and when here (I also use this account for my cash for marriage extension)

I have internet banking with both Lloyds and Bangkok Bank, can see all my various accounts, and do all transfers

All works very well for me at little or no cost

Good idea making the joint account.

Not only would your wife (widow) be unable to open an account herself she would have to jump through hoops to get money out as any probate obtained (in.say. the UK) has to be seperately registered in IOM.

[chiang mai]

Thanks for that, even though I now don't need a new account as desperately today as I did yesterday, I will take a look at Lloyds IOM. But actually, looking at their web site, it looks as though for Premier they require 100K whereas the International account requires 25k but has a 7.50 monthly charge, am I reading that correctly? https://international.lloydsbank.com/international-current-account/

[technologybytes]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

[Jip99]

I'm probably in the same boat then. After the b@$tards dumped us in the river in Thailand (have been pleased with their recommendation of Krungsri Exclusive for replacement accounts) I was inclined to dump them in the UK as well but it was beneficial to keep a UK account and it would have been difficult to sign up another (and it's always a fag changing all your banking connections for a primary account anyway).

I too have maintained a lot of money with them for little return - 6 figure sums in Premier Accounts/time deposits.

I had already asked my experienced (Singapore-based/UK trained/UK firm - Fry Group) expat financial adviser about where to go for offshore banking. He recommended Nationwide or Santander* (Jersey/Guernsey) if you are looking for Sterling-denominated accounts, adding that there is little to choose when it comes to service on current accounts, but these two seem to provide decent rates on term deposit accounts in recent times. If you are not wanting to put any of your standby cash on term deposit then I guess there is no clear preference.

I have not dome the switch yet but my sister tells me that there is a long letter/questionnaire from HSBC, which she will go through with me on the phone when she gets back from holiday! They already know that I live in Thailand and went to great pains to get my Thai address as well a couple of years ago.

*Yeah I know Abbey Nat/Santander were rubbish in the UK on service in the noughties and a bit beyond, but they have got much crisper in recent years - decent products and well-trained branch staff (the latter is pretty rare in UK banking - most don't know their proverbial from their elbow).

Nationwide does provide an alternative for many, not for me however since I fell out with them last year because they lied to me and cheated me out of 84 Pounds in interest which I subsequently won back via the IOM Financial Ombudsman. But HSBC:

HSBC has been running a program called Safeguard, it's stated purpose is one thing (google HSBC safeguard) but in reality it is aimed at seeing if any of their overseas customers represent risk of fraud or can potentially impact them negatively in the US, customers must live in countries acceptable to the US government, it's called de-risking, I have another name for it.

Anyway, the Safeguard program requires a two hour telephone interview about every aspect of your finances, how much do you have, where it came from, where's it stashed. future plans, value of real assets (and their addresses), income sources and more, it's slightly nighmarish at first but it's actually not too bad. I took the position that I have nothing to hide and telling them everything was actually OK, for me, others may take a different view, the chap on the other end of the phone was actually quite OK to deal with and before our chat ended we had chatted about his future plans and his father who lives in the PI etc.

When that chat was finished I had to supply them with certified copies of this and that, for which they promptly reimbursed me, later a letter from them explained that all was as well and sorry for the inconvenience. It therefore came as a surprise to receive a form letter telling me I had 30 days to move my funds before the account would be closed.

But all's well that ends well. I spoke with HSBC yesterday to try to get them to change their mind and they initially denied sending the letter, a subsequent review by them showed that such letters were sent centrally and mine had been sent in error, they said, "sorry, grovel, bow, scrape, grovel:"!

I am relieved, panic over. BTW as you've probably gathered HSBC is quite happy with me living in Thailand as they have been for the past eleven years hence I wouldn't be afraid of telling them your address.

A good outcome in the end. Better the devil you know, and it is hard to be a genuine global bank if you only allow residents of the home country to bank with you.

That is the way it is going I am afraid. Many banks state on their websites that you have to be a UK resident to open an account. There are many expats in Thailand who opened their accounts whilst domiciled in the UK - they could be vulnerable in the future.

http://www.i-finance.co.uk/uk-bank-account-for-non-residents/

https://www.bba.org.uk/customers/personal-banking/current-accounts-personal-banking/bank-account-access-in-the-uk-for-non-residents-2/

[Jip99]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

Keeping under the radar (maybe by having a UK address) might be more desirable if individual banks actually become joined up.

Example; Nationwide - if you try to open an account and tell them you live overseas/have an overseas address they will direct you to Nationwide International. If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International.

[jacko45k]

Standard Chartered Jersey or IOM.

[Jip99]

For those considering using Jersey/IOM please go in with your eyes open and understand what will happen in the event of your demise.

It can be a tortuous, and expensive, process obtaing probate.

Not saying don't do it, but many of the advantages of being 'offshore' can be eroded by the costs of probate.

[bkkbarnstormer]

Citigold. Open in Thailand if you live here as minimum balance is lower at 2mm THB and they don't seem to monitor it strictly. Once opened contact Citi UK and they can open a UK account with gold status based on Thailand. You can the. Transfer sterling into Thailand so many times per month free of charge

[gandalf12]

If iin your words "...I don't need cheque book, internet, whistles and bells..." how do you intend to transfer money? You have to request a transfer by some means

[al007]

LLoyds International Isle of Man, Premier account need to maintain min balance pounds Sterling 2500 then no bank charges

International transfers free

UK transfers free

Internet and telephone banking

I opened my lloyds account when here I have a visa debit card and it has my Thailand address, yes I had to be patient, yes it took a long time BUT ABSOLUTELY first class to have

I recently made the account joint with my wife, a bit of a struggle but got there eventually, and good for planning when I die account will continue no hastle, if left until after I dia there is no way they would give my wife an account, but now that has been overcome

I send pounds sterling to Bank Bangkok sterling account, better to buy Batt as and when here (I also use this account for my cash for marriage extension)

I have internet banking with both Lloyds and Bangkok Bank, can see all my various accounts, and do all transfers

All works very well for me at little or no cost

Good idea making the joint account.

Not only would your wife (widow) be unable to open an account herself she would have to jump through hoops to get money out as any probate obtained (in.say. the UK) has to be seperately registered in IOM.

I believe I have removed my estate from probate anywhere, by having my investment assets with Interactive Brokers USA account but registered to my Thailand address, also now in joint account with wife (again a long time and much information to achieve)

My self administered QROPS pension Gibraltar also out side Probate

I still have an account in the UK that my OAP gets paid into but never much money stays there, and my wife would simply transfer out any balance via the internet on my death, maybe she even draw the unutilised bank O/D facility!!, I doubt it; but I could, very few of us love banks

No other UK assets

Just in case it( the bad Thai wife) ever happens can still within 24 hrs move every thing from all joint accounts to sole accounts

I try to plan carefully, the nightmare and costs for a Thai wife claiming overseas assets on a husbands death would be a nightmare, take maybe years and be costly

My wife is aware of all this but not conversant with the details operation, but far easier than going through probate

I used to have a Thai Lawyer but though a medium name he went bad,when I suggested an oversight be remedied , any suggestions for good one near Khon Kaen appreciated

[chiang mai]

If iin your words "...I don't need cheque book, internet, whistles and bells..." how do you intend to transfer money? You have to request a transfer by some means

See post #5

[mercman24]

i was HSBC for 40 years never done me any favours,now with the HALIFAX,(not sure if you can open an account from Thailand though) as long as i have £750 a month going in i get £5 a month given me, they did all the work on the transfer and gave me £100 for doing this, they charge a fixed rate of £9-50 to transfer money, (any amount) and it is in my Bangkok Bank account in 3 days,

[rayw]

CM your brief seems a little contradictory as you said you want to send and receive payments but then you say you do not need internet. How are you going to make payments (other than telephone banking which would be more expensive)?

Have you looked at Barclays International or Lloyds International - both of which would have much lower thresholds I would think?

My UK Sterling account is subject to the same in and outbound transactions every month, none of which require my intervention. Additionally, my UK Barclaycard is drawn on my UK account, a requirement of the card. Infrequently I also make one off transactions and whilst it would be nice to be able to make these via the internet, they can be made by telephone. The nice part about the HSBC account was that it didn't cost me anything and didn't require me to keep a minimum balance, ever since I ditched Premier in favour of a regular ordinary bank account, plus it still had internet facilities.

I will look at Barclays and Lloyds.

Yes indeed I have been with Barclays for over 40 years and with their excellent secure and easy to use Internet Banking service I can pay all my UK based outgoings easily and use my Barclaycard to buy all my groceries, petrol, phone and internet bills here as well as most other items like clothes and electrical goods and simply pay them using my Internet Banking. I find this far cheaper overall than paying the high flat rate charge to transfer money here and with a credit card you can get up to 7 weeks free credit too of course. I have not lived in the UK for over 12 years as a retired Expat here and no problem keeping my account with Barclays onshore normal bank, but then again as I still pay UK tax I am in effect still treated for that as a UK resident.

Worst bank in the world IMHO is HSBC as despite my never having a bad debt and always having a top clean credit rating they are charging me 25% APR on a credit card debt despite UK bank rate being close to 0% that is absolute fraud and criminal and I detest them for it. I only ran up the debt unavoidably during the post 2008 period when the pound collapsing cost me 35% of my UK based pension income and was only for a couple of years before my UK state pension came on board. I was sure that that credit card interest would drop from the then 14% APR in 2008 to about 8% APR making such temporary needed debt easy to clear. With the collapsing bank rate as always Card interest rates have run about 7% or so above bank rate for decades, so thus I was sure the Credit Card rate would drop accordingly to about 8% APR. I did not ever dream that these banks (which were before fairly well respected) were true low life criminals and fraudsters who I strongly believe should have all their disgusting CEOs behind bars, as we now know they put UP their interest rate charges and continue to do so !!! Absolutely inexcusable and disgusting and making it difficult now for me to clear that debt as always fighting with the exorbitant rip off interest charges at 25% APR ad I know many millions are in the same boat as I am here thanks to being cheated and ripped off !!! HSBC SUCK BIG TIME, they are total criminals and fraudsters !! It is poor folk and struggling pensioners, myself included, who bear the brunt of their theft as we can do little to get out of their clutches.

I will be glad if Corbyn gets into power in the UK (he talks a lot of sound common sense and is anti austerity measures applied to the poor too) as he will rightly nationalise at least the one bank, probably RBS. It will be in clean competition with the private banksters who will simply then lose all their customers if they continue with the fraud and rip offs !! I know I would immediately transfer all my banking to a safe and well run nationalised bank and pay realistic fees and related to bank rate interest charges. Thumbs up to Corbyn as he talks the most sense, and I say that even though strangely enough I am not a Socialist but very much a centre ground man who puts people always before money but respects that we need both.

Edited September 5, 2015 by rayw

[Jonathon]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

Keeping under the radar (maybe by having a UK address) might be more desirable if individual banks actually become joined up.

Example; Nationwide - if you try to open an account and tell them you live overseas/have an overseas address they will direct you to Nationwide International. If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International.

"If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International."

Did you do this and how recently?

Thanks

[topt]

CM your brief seems a little contradictory as you said you want to send and receive payments but then you say you do not need internet. How are you going to make payments (other than telephone banking which would be more expensive)?

Have you looked at Barclays International or Lloyds International - both of which would have much lower thresholds I would think?

My UK Sterling account is subject to the same in and outbound transactions every month, none of which require my intervention. Additionally, my UK Barclaycard is drawn on my UK account, a requirement of the card. Infrequently I also make one off transactions and whilst it would be nice to be able to make these via the internet, they can be made by telephone. The nice part about the HSBC account was that it didn't cost me anything and didn't require me to keep a minimum balance, ever since I ditched Premier in favour of a regular ordinary bank account, plus it still had internet facilities.

I will look at Barclays and Lloyds.

Yes indeed I have been with Barclays for over 40 years and with their excellent secure and easy to use Internet Banking service I can pay all my UK based outgoings easily and use my Barclaycard to buy all my groceries, petrol, phone and internet bills here as well as most other items like clothes and electrical goods and simply pay them using my Internet Banking. I find this far cheaper overall than paying the high flat rate charge to transfer money here and with a credit card you can get up to 7 weeks free credit too of course. I have not lived in the UK for over 12 years as a retired Expat here and no problem keeping my account with Barclays onshore normal bank, but then again as I still pay UK tax I am in effect still treated for that as a UK resident.

Worst bank in the world IMHO is HSBC as despite my never having a bad debt and always having a top clean credit rating they are charging me 25% APR on a credit card debt despite UK bank rate being close to 0% that is absolute fraud and criminal and I detest them for it. I only ran up the debt unavoidably during the post 2008 period when the pound collapsing cost me 35% of my UK based pension income and was only for a couple of years before my UK state pension came on board. I was sure that that credit card interest would drop from the then 14% APR in 2008 to about 8% APR making such temporary needed debt easy to clear. With the collapsing bank rate as always Card interest rates have run about 7% or so above bank rate for decades, so thus I was sure the Credit Card rate would drop accordingly to about 8% APR. I did not ever dream that these banks (which were before fairly well respected) were true low life criminals and fraudsters who I strongly believe should have all their disgusting CEOs behind bars, as we now know they put UP their interest rate charges and continue to do so !!! Absolutely inexcusable and disgusting and making it difficult now for me to clear that debt as always fighting with the exorbitant rip off interest charges at 25% APR ad I know many millions are in the same boat as I am here thanks to being cheated and ripped off !!! HSBC SUCK BIG TIME, they are total criminals and fraudsters !! It is poor folk and struggling pensioners, myself included, who bear the brunt of their theft as we can do little to get out of their clutches.

I will be glad if Corbyn gets into power in the UK (he talks a lot of sound common sense and is anti austerity measures applied to the poor too) as he will rightly nationalise at least the one bank, probably RBS. It will be in clean competition with the private banksters who will simply then lose all their customers if they continue with the fraud and rip offs !! I know I would immediately transfer all my banking to a safe and well run nationalised bank and pay realistic fees and related to bank rate interest charges. Thumbs up to Corbyn as he talks the most sense, and I say that even though strangely enough I am not a Socialist but very much a centre ground man who puts people always before money but respects that we need both.

Do you feel better for that

Does not really help the OP as presume you had the account before you left the UK and it has been said that most if not all banks in the UK require you to be resident to open a new account...........(and paying some tax does not necessarily make you resident)

Sorry but If you took out a debt at 25% I cannot understand why you expected them to reduce it........and as to Corbyn

[chiang mai]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

Keeping under the radar (maybe by having a UK address) might be more desirable if individual banks actually become joined up.

Example; Nationwide - if you try to open an account and tell them you live overseas/have an overseas address they will direct you to Nationwide International. If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International.

"If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International."

Did you do this and how recently?

Thanks

FWIW Nationwide International IOM used to be a separate entity, last year it was changed to become a branch of Nationwide UK. I think that change was about improving the balance sheet but there may be other implications, dunno.

[macahoom]

"If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International."

Did you do this and how recently?

Thanks

I did this about 4 months ago.

I wrote to Nationwide and asked them if I moved to Thailand permanently would I be able to retain my account and change my UK address to a Thailand one.

This is the reply I got:

"Yeah of course you can. If you could let us know your new address, I will be more than happy to get this changed for you.

While having a registered overseas address, you would not be able to open any new accounts, but you can still keep your current accounts with us."

Shortly after receiving this reply, I did an online change of address with no problems.

Hope this helps.

[Jip99]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

Keeping under the radar (maybe by having a UK address) might be more desirable if individual banks actually become joined up.

Example; Nationwide - if you try to open an account and tell them you live overseas/have an overseas address they will direct you to Nationwide International. If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International.

"If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International."

Did you do this and how recently?

Thanks

Page 3 re living in the UK.

http://www.nationwide.co.uk/~/media/MainSite/documents/products/current-accounts/shared/P857_ImportantInformation-TermsAndConditions.pdf

My point (not clearly made) was that you can open an account whilst residing in the UK. If you subsequently move abroad (and advise them) I do not think they are joined up enough to say "hold on, you no longer meet our requirements for having a Nationwide account".

I seem to recall that if you enter a non-UK address in the online application the system will stop you and invite ou to apply for a Nationwide International.

I think it is a bit like the UK Lottery - do what you like while you are in the UK but you fall foul of the systems once you are abroad.

[khastan]

On the subject of banks the following might influence your choice. All those who are fortunate to have the necessary funds in a UK bank should be aware of this very important change to their terms and conditions copied and pasted below which I recently received in an email. This is the HSBC UK but I presume that it will apply to all UK based deposit bank accounts . Please note however that on 1 January 2016, the deposit protection limit is changing from £85,000 to £75,000.

[misterphil]

I have been with HSBC for many years. About 2005 I switched my address from a UK address to my Thai address and then everything got a lot easier. I see many people operate a UK account from Thailand, but using a UK address. That causes a whole load of problems for many people.

I know some banks, (Barclaycard are amongst them) will not allow you to switch to an address in Thailand, but HSBC has never been a problem in that respect.

Keeping under the radar (maybe by having a UK address) might be more desirable if individual banks actually become joined up.

Example; Nationwide - if you try to open an account and tell them you live overseas/have an overseas address they will direct you to Nationwide International. If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International.

"If you already have a Nationwide account and change to an overseas address they do not make the connection and insist you go for Nationwide International."

Did you do this and how recently?

Thanks

I have both Nationwide accounts

UK is GBP and International is USD.

Depending on who I'm working for wether I get paid in GBP or USD I get paid in to the different accounts.

To set up the Nationwide International was a bit of a pain but got it done eventually. The only problem I have with my Int. account is the exchange rate isn't very good when I transfer from that to my Kasikorn. When I enquired about the bad exchange rate they blamed the Thai bank for taking a fee, and the Thai bank blamed the Nationwide.

http://www.nationwideinternational.com