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How does your UK pension arrive and what code?

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41 minutes ago, chilly07 said:

Pension payed into UK NatWest account then to Transferwise for the best exchange rate and lowest fee then into Bangkok Bank always showing as an International Transfer FTT for no additional fee. Don't see where the problem is?

I have a Lloyds account and like you transfer using Transferwise to my Bangkok Bank. Always shows as an FTT transfer. I don't have a problem.

 

The problem is for people who don't have a UK bank account and have not maintained a UK address. They can't get a UK bank Account so have to resort to having their pensions directly to their Thai Bank but those UK State and private Pension companies now appear to be using a transfer system which shows up in the Thai bank with a BNT (bahtnet) code. This is not an International transfer code so is not normally acceptable to Thai Immigration.

 

Having an offshore (expat?) bank account that your pension is paid into is one option and most UK banks provide that service, but those accounts usually require a minimum of £4-5,000 held permanently in the account.

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3 hours ago, trubrit said:

How do you guy's resident here keep a Uk bank acct?

It is a palaver. I received calls from HSBC (well from Indians) multiple times, but kept prodding at it and eventually got the overseas address accepted. Other solution, don't tell them. 

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7 hours ago, Hotrats said:

I receive my UK State Pension directly every 28 days into my Bangkok Bank account in Thailand. It comes into my local account with the reference BAHTNET. My understanding is the UK pension office send the payments for pensioners living in Thailand in bulk to a central clearing bank here, from where it is distributed to all the individual accounts. Hence the receiving account does not register it as an international payment (with FTT) because it has been received from the local clearing bank in Thai Baht.

Mine comes in every 28 Days Also, But I Was told by The U.K Pensions Service they pay ALL Pensions ( Worldwide ) into Citibank London 14 Days before they send them out to us pensioners, Just THINK How much Interest Citibank MAKE On that amount !! When mine comes into BBL They even take 110 Baht out of my PITTANCE !!

Edited by Nong Khai Man

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6 hours ago, Griffo63 said:

I have my pension paid into my UK bank account and then transferred (when the exchange looks best - difficult at present ) into my Thai Bank Account. 

But...............Don't you're U,K Bank Account charge you a Transfer Fee  for that ???

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6 hours ago, Bangkok Barry said:

 

Totally agree. I'm lucky though that I can quickly pop over into Laos and be back home in time for lunch when I have to make a completely pointless but required 90-day exit.

Me Too Barry, I Live a whole 10 Minutes from the Friendship Bridge 1 

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6 hours ago, trubrit said:

How do you guy's resident here keep a Uk bank acct?When my bank, Lloyds found out I wasn't in the UK they closed my acct and other banks I asked said the same, must be resident to open an account. Recently I asked for my govt pension to be paid into my Transferwise  acct in UK, got a reply 2 months later they only pay into recognised banks not the likes of Transferwise .So i'm still stuck with receiving it through Citibank with an internal transfer into Bangkok Bank .

Easy....I've had my U.K Bank Account since 1985 & Has been in Credit Since.....I Was Told by them that If it Ever had a Negative Balance THEY Would then Close it & I Wouldn't be allowed to open a new one as I'm not a U.K Resident Any Longer....

 

Just to Add,My U.K Bank has NO Problem with me being in Thailand, I Receive a Statement from them each time I Withdraw Any Money on my Visa Debit Card at my THAI Address !!

Edited by Nong Khai Man

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3 hours ago, john terry1001 said:

I have a Lloyds account and like you transfer using Transferwise to my Bangkok Bank. Always shows as an FTT transfer. I don't have a problem.

 

The problem is for people who don't have a UK bank account and have not maintained a UK address. They can't get a UK bank Account so have to resort to having their pensions directly to their Thai Bank but those UK State and private Pension companies now appear to be using a transfer system which shows up in the Thai bank with a BNT (bahtnet) code. This is not an International transfer code so is not normally acceptable to Thai Immigration.

 

Having an offshore (expat?) bank account that your pension is paid into is one option and most UK banks provide that service, but those accounts usually require a minimum of £4-5,000 held permanently in the account.

50,000 is the minimum amount you can open an offshore HSBC account with in Jersey, OR you can put it "under management" eg you can let them put it in an offshore bond for you where it will get good interest, you don't have to keep it in your current account which pays 0.00% interest

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@Thailand this coding is not an issue at all. Simply ask your bank to provide you with proof that it was a foreign remittance. Krungsri did this for me on all my deposits in less than 30 mins and they were accepted by immigration.

 

Just had an afterthought. Get yourself a letter from DWP stating what your current pension is. Immigration asked for that and luckily, I had one.

Edited by Moonlover

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5 hours ago, spornb said:

At 75 in poor health, I find immigration on marriage extension way too stressful

 

Even after ten yrs they always find something wrong, and also an immaterial item, my cash is always as required, we play the game and dress respectfully as well

 

All too often we are told if you do not like it leave, by some junior civil servant

 

I would willingly pay a reasonable amount to get rid of all this, like 5000 pa to an agent for renewal and 90 day reports,

 

anyone know of anyone needs to be KhonKaen

Forget The Agent,YOU Can do the Non-Imm " O " Multi Entry based on MARRIAGE at Savanakhet ( Laos ) But You'll need to Border Hop Every 90 Days IF You are able too....

Edited by Nong Khai Man
I SWORE......Naughty Boy !!

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On September 11, 2019 at 3:31 PM, Thailand said:

We pay to the currancy of the country you reside in we do not pay to stirling accounts overseas"

People at the UK pension office can't spell currency  ?  ?

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37 minutes ago, Moonlover said:

@Thailand this coding is not an issue at all. Simply ask your bank to provide you with proof that it was a foreign remittance. Krungsri did this for me on all my deposits in less than 30 mins and they were accepted by immigration.

 

Just had an afterthought. Get yourself a letter from DWP stating what your current pension is. Immigration asked for that and luckily, I had one.

I did, they didn't.

Also Bangkok Bank have their own code for international transfers, it is GPSD and shows on annual statements from BB head office.

.

Bangkok Bank assured me that immigration would accept this (GPSD) for the pension and other overseas income transfers as they had informed the immigration office in question.

I said I bet they don't ,BB said they will, they didn't.

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I made a direct request to DWP several years ago and my UK pension was paid direct to Siam Commercial Bank and is coded as IFT. I understand it is handled by Citi Bank and from the date due it takes 9 working days sometimes longer if holiday is involved. My Local Council pension takes only 3 days from the date due and that is also handled by Citi Bank and is also coded as IFT. Dwp don't want to know about this and from what I have heard 9 working days is far from normal for other UK pensioners. It used to take the DWP six working days to pay my pension into my UK Bank account from the date due - in this day and age almost unheard of.

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