Really Need A UK Bank Account

[Brewster67 608]

I am about to get a large cash lump sum from my pension and i really don't want it all to get transferred to my Thai kasikorn bank account all in one go at this current abysmal rate.

 

The main problem I have is that I no longer have a UK bank account. My Barclay's Bank account was closed due to inactivity some years ago and I have been all over the internet trying to suss out a way to get a UK bank account, but the requirements are that you need to be a UK resident. Which I have not been for the past 10 years even though I am a British citizen.

 

I opened a Transferwise borderless account which you can hold multiple currencies and it will give you an actual bank account number where you can have money paid into it,.,, For example I have opened a GBP balance and before I can get the UK style account number and sort code I need to veerify it by making a 20 GBP deposit... here is where the problem starts. I tried making a deposit from my Thai bank, but the system does not allow THB deposits.. So I tried depositing through my Thai credit card knowing the currency will be switched from THB to GBP but i keep getting an error message just as the payment is being made, i have also tried my ATM/Debit card with the same result.

 

It seems i MUST deposit funds from one of the accepted currencies and unfortunately I don't have any accounts in those currencies.

 

Therefore it looks like I have to find a way to get a UK bank account so i can make the deposit by GBP, then i can get my account details to give to the pension company.

 

Is there ANY way I can get GBP into my account any other way, or does anyone know of any way iI can get a UK bank account whether traditional or online or even a virtual credit card in GBP or USD where i can load from here withouit  the need for a UK address... I am lost on this one.

 

Many thanks in advance.

[cliveshep 440]

Ask a UK friend to deposit the money for you and transfer money to him?

[Brewster67 608]

1 minute ago, cliveshep said:

Ask a UK friend to deposit the money for you and transfer money to him?

Thanks but no can do.... The deposit must only come from a source in my name.

 

This is a verification process.

[Crossy 27,982]

Have you tried Lloyds International (Jersey or IoM)? I opened Sterling, USD and Euro accounts without being UK resident and mostly by phone and internet.

 

It was a few years back so things may have changed, but it can't hurt to ask.

[CharlieH 29,827]

Open a Paypal account, pay from that in GBP  ?

 

[hotandsticky 1,599]

37 minutes ago, Brewster67 said:

Thanks but no can do.... The deposit must only come from a source in my name.

 

This is a verification process.

 

 

I think you can get round that........................... I did so when opening a TW account for my missus. I think I just transferred from my account.......................... I will see if I can check in my old records.

 

 

TW is your best route, no UK bank will open an account for you. Even with a 2m Baht transfer limit they provide an excellent, cost-effective service.

 

 

Plan B is to open a Foreign Currency Deposit account with, say, Bangkok Bank (the best choice when I did it) and ask the pension trustees to remit to that account.

Edited May 30, 2020 by hotandsticky

[stupidfarang 278]

you can open an online account with Monzo or Starling (two very good online banks) you will need a UK address (daughter, son or friends address)? you will also need to aply online using a VPN so it shows you are online in the UK. Good luck

[CorpusChristie 7,889]

7 hours ago, stupidfarang said:

you can open an online account with Monzo or Starling (two very good online banks) you will need a UK address (daughter, son or friends address)? you will also need to aply online using a VPN so it shows you are online in the UK. Good luck

Wont he need proof of living at that address, like a bill or something official ?

[ChipButty 16,224]

I think I read something about HSBC letting you open an account in the UK

[hotandsticky 1,599]

3 minutes ago, ChipButty said:

I think I read something about HSBC letting you open an account in the UK

 

 

Unfortunately not.  You have to be a UK resident for ANY UK bank to open an account for you.

[stephenterry 7,241]

44 minutes ago, hotandsticky said:

 

 

I think you can get round that........................... I did so when opening a TW account for my missus. I think I just transferred from my account.......................... I will see if I can check in my old records.

 

 

TW is your best route, no UK bank will open an account for you. Even with a 2m Baht transfer limit they provide an excellent, cost-effective service.

 

 

Plan B is to open a Foreign Currency Deposit account with, say, Bangkok Bank (the best choice when I did it) and ask the pension trustees to remit to that account.

Plan B is the optimum method, considering you're going to continue to live in Thailand. Of course, you would be subject to BKK fees and their exchange rates, when you convert back to Thai Baht. 

[Brewster67 608]

39 minutes ago, stephenterry said:

Plan B is the optimum method, considering you're going to continue to live in Thailand. Of course, you would be subject to BKK fees and their exchange rates, when you convert back to Thai Baht. 

Nope... There is no point opening a BKK Bank account when i already have a Kasikorn Bank account. I can already get my lump sum paid into that account, but I don't want to transfer 2 million baht at this time when really only 200K baht will suffice me to the end of the year and i know the GBP is going to rise considerably by then.

 

The amount is 50,000 GBP, that means for ever baht the GBP rises is an extra 50,000 baht.

 

That is the reason I want it sent to Transferwise, so it sits there as i monitor the exchange rate over the coming months.

 

There are 4 reasons why the GBP should rise a lot later in the year. 

 

1... There will almost certainly be some sort of free trade deal with the EU despite the wranglings over a few issues, both parties will see sense.

2... Once the UK exits the EU transition period on Dec 31st, that will give investors certainty no matter what the situation.

3... The UK/US free trade deal should be in place by the end of the year.

4... A free trade deal with japan should be in place by then also.

 

Each one of these factors will boost the GDP for sure.

 

I think the GBP is the lowest it is ever going to be, and that it is only going to go one way from here. That is why I baulk at the thought of doing the transfer in full at a crappy rate like this. Transferwise is perfect for my needs.

[theoldgit 5,527]

I use this account with Santander, my pensions are paid into it and I fund my Transferwise transactions from it, I opened it up online from Thailand a couple of years ago.

 

https://www.santanderinternational.co.uk/banking/bank-accounts/gold-bank-accounts

[Pilotman 19,493]

3 hours ago, cliveshep said:

Ask a UK friend to deposit the money for you and transfer money to him?

don't do that.  Nobody is that trustworthy. 

[Pilotman 19,493]

4 minutes ago, theoldgit said:

I use this account with Santander, my pensions are paid into it and I fund my Transferwise transactions from it, I opened it up online from Thailand a couple of years ago.

 

https://www.santanderinternational.co.uk/banking/bank-accounts/gold-bank-accounts

is it an offshore account?  I don't know how you open a UK onshore account without having a UK address and being able to prove residency, by rental contract, utility bill etc.  That has been the law for a good few years.