Which Expat UK Bank

[Estrada]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager
Exchequer Court
33 St. Mary Axe, London
EC3A 8BY, United Kingdom
Business Hours: Mon-Fri (9:30 am to 3:00 pm)
Tel: (44) 20 7929 4422 (from outside UK) or
020 7929 4422 (from UK)
Fax: (44) 20 7283 3988 (from outside UK) or
020 7283 3988 (from UK)
SWIFT: BKKB GB 2L
E-mail: [email protected]

[Jip99]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager

Exchequer Court

33 St. Mary Axe, London

EC3A 8BY, United Kingdom

Business Hours: Mon-Fri (9:30 am to 3:00 pm)

Tel: (44) 20 7929 4422 (from outside UK) or

020 7929 4422 (from UK)

Fax: (44) 20 7283 3988 (from outside UK) or

020 7283 3988 (from UK)

SWIFT: BKKB GB 2L

E-mail: [email protected]

I thought DWP (or their agent) used Citibank to transfer direct to Thai bank accounts ?

I don't quite understand how DWP pension is paid in Sterling to BKB London and it 'appears' in BKB, Thailand. I may be missing something but surely your instruction would be required to move money from 'your' account at BKB London ?

[chiang mai]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager

Exchequer Court

33 St. Mary Axe, London

EC3A 8BY, United Kingdom

Business Hours: Mon-Fri (9:30 am to 3:00 pm)

Tel: (44) 20 7929 4422 (from outside UK) or

020 7929 4422 (from UK)

Fax: (44) 20 7283 3988 (from outside UK) or

020 7283 3988 (from UK)

SWIFT: BKKB GB 2L

E-mail: [email protected]

Bangkok Bank London doesn't hold a retail banking license , it is solely a commercial bank and as such it is not possible to open a retail account there.

I believe what may have happened in your case is that the forms you filled out were for an account with Bangkok Bank Thailand whereby your pension payments are remitted via Bangkok Bank London.

Also, the requirements for UK tax residency are far from what you quote. There is now a series of tests that determine residency and it's nothing like 15 years. Residency for tax purposes can be achieved in fairly short timescales and it's explained here:

http://www.cambridgetax.co.uk/ctp/New_Residence_Rules.html

[chiang mai]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager

Exchequer Court

33 St. Mary Axe, London

EC3A 8BY, United Kingdom

Business Hours: Mon-Fri (9:30 am to 3:00 pm)

Tel: (44) 20 7929 4422 (from outside UK) or

020 7929 4422 (from UK)

Fax: (44) 20 7283 3988 (from outside UK) or

020 7283 3988 (from UK)

SWIFT: BKKB GB 2L

E-mail: [email protected]

I thought DWP (or their agent) used Citibank to transfer direct to Thai bank accounts ?

I don't quite understand how DWP pension is paid in Sterling to BKB London and it 'appears' in BKB, Thailand. I may be missing something but surely your instruction would be required to move money from 'your' account at BKB London ?

It's a local CHAPS transfer from Citi or DWP to BBL London, BBL then transfers the payment to a BBL account in Thailand - there is no UK BBL account, the reference number on the transfer will be the BKK account number. The same scenario exists with BBL New York whereby a transfer to BBL NY is made via the ACH system and BBL NY credits the BKK account.

[Jonathon]

"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.

It does indeed thanks, I can now get on with the change.

[KNJ]

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 am sure there are many with IOM or Jersey based accounts.

It is essential that you have a will separate from any other for these, pertaining to money/investments held in either of these.

PLEASE PLEASE PLEASE do not rely on a UK or Thai will it is not enough and will lead to nothing but delays and costs.

As to the original post I still retain my Jersey HSBC, and am happy with the service, if not the 50k minimum deposit/investment required. The cash part pays diddly squat in terms of interest, however investments can cover this ( or a suitable mortgage )

Advantages is that with that Premier service, multiple currency accounts are available and they will help set up a HSBC account in another country.

All accounts can be linked together to make life easy via global view

Barclays I gave up a long time ago, too many costs, and I did not like their Jersey offerings and limited access globally in terms of branches.

Santander I run in Uk if for no other reason than to get 3% on the cash ( couple of accounts )

More difficult for me was setting up an independent account for the missus, no one seemed to want to know, BUT again HSBC stepped up and allowed her to open one, so she has some independent money for a rainy day

I might add that I have no dog in this race and I do not have anything to do with any bank, these are just my own experiences and opinions

[Arkady]

Lloyds in Jersey is not bad. it is designed for UK expats.

[Jip99]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager

Exchequer Court

33 St. Mary Axe, London

EC3A 8BY, United Kingdom

Business Hours: Mon-Fri (9:30 am to 3:00 pm)

Tel: (44) 20 7929 4422 (from outside UK) or

020 7929 4422 (from UK)

Fax: (44) 20 7283 3988 (from outside UK) or

020 7283 3988 (from UK)

SWIFT: BKKB GB 2L

E-mail: [email protected]

I thought DWP (or their agent) used Citibank to transfer direct to Thai bank accounts ?

I don't quite understand how DWP pension is paid in Sterling to BKB London and it 'appears' in BKB, Thailand. I may be missing something but surely your instruction would be required to move money from 'your' account at BKB London ?

It's a local CHAPS transfer from Citi or DWP to BBL London, BBL then transfers the payment to a BBL account in Thailand - there is no UK BBL account, the reference number on the transfer will be the BKK account number. The same scenario exists with BBL New York whereby a transfer to BBL NY is made via the ACH system and BBL NY credits the BKK account.

OK, thanks for that but I am still unclear.

Why not just have DWP pay the pension direct to theThai bank account? I would imagine it is a BACS rather than CHAPS payment to BKB London. This method would surely pick up the £15 or £20 charge for transferring to Thailand.

[chiang mai]

At the instance of the UK Pension Service I opened a UK Bank Account at Bangkok Bank London office. All this was done by filling in a few forms and sending to them in the UK. I am considered non-resident as I have been out of the UK for more than 15 of the last 20 years, which is the new definition of non-resident. So the Government pays my pension into my UK Bangkok Bank Account in GBP and it then appears in my Bangkok BBL account in THB. My BBL ATM works in the UK and Thailand.

Mr. Peeriyathep Homhuan, SVP & Branch Manager

Exchequer Court

33 St. Mary Axe, London

EC3A 8BY, United Kingdom

Business Hours: Mon-Fri (9:30 am to 3:00 pm)

Tel: (44) 20 7929 4422 (from outside UK) or

020 7929 4422 (from UK)

Fax: (44) 20 7283 3988 (from outside UK) or

020 7283 3988 (from UK)

SWIFT: BKKB GB 2L

E-mail: [email protected]

I thought DWP (or their agent) used Citibank to transfer direct to Thai bank accounts ?

I don't quite understand how DWP pension is paid in Sterling to BKB London and it 'appears' in BKB, Thailand. I may be missing something but surely your instruction would be required to move money from 'your' account at BKB London ?

It's a local CHAPS transfer from Citi or DWP to BBL London, BBL then transfers the payment to a BBL account in Thailand - there is no UK BBL account, the reference number on the transfer will be the BKK account number. The same scenario exists with BBL New York whereby a transfer to BBL NY is made via the ACH system and BBL NY credits the BKK account.

OK, thanks for that but I am still unclear.

Why not just have DWP pay the pension direct to theThai bank account? I would imagine it is a BACS rather than CHAPS payment to BKB London. This method would surely pick up the £15 or £20 charge for transferring to Thailand.

BACS or CHAPS I dunno. The transfer by BBL from UK to Thailand though is internal to BBL hence no charge. As to why not direct to TH by DWP: dunno again, maybe the poster wants to present an image that he's receiving his pension into a UK bank account instead of an overseas account.

[Sooo Upto Me]

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.

Incorrect, you not read his post? He says he wants a UK Offshore account which Barclay's wealth are. I have been with them for over 10 years an never had any problems.

U don't need to be a UK resident.

[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.

Incorrect, you not read his post? He says he wants a UK Offshore account which Barclay's wealth are. I have been with them for over 10 years an never had any problems.

U don't need to be a UK resident.

UK/Offshore, either/or.

[technologybytes]

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.

I also had to go through the HSBC "safeguard" interview this year, I have had the account for many years.

I had to provide a certified copy of a proof of address, I chose to send a copy of my Thai drivers licence which has my Thai address on the back (in Thai) so then I had to obtain a translation of that also, but they did reimburse me.