UK banks closing accounts for expats
Re: UK bank closing accounts for customers living in Thailand
Burksida "I have two accounts in the UK and don't use a Thai address for either, if you don't tell them, they won't know. Will give Starling a go though."
I think the banks do know, maybe from the account transactions or from HMRC.
I'm thinking it creates more costs and work for the banks, which is why a lot of them seem to be discouraging new applications from outside the UK. Just speculating.
I think the banks do know, maybe from the account transactions or from HMRC.
I'm thinking it creates more costs and work for the banks, which is why a lot of them seem to be discouraging new applications from outside the UK. Just speculating.
Re: UK bank closing accounts for customers living in Thailand
I would imagine they would also undertake full credit rating check. That will include accounts held with other banks, current or otherwise. It would also include a check of the electoral register, if that contradicts data provided to the bank, that could be an issue. They wont get data direct from HMRCRobinhood wrote: ↑Thu Mar 02, 2023 8:31 am Burksida "I have two accounts in the UK and don't use a Thai address for either, if you don't tell them, they won't know. Will give Starling a go though."
I think the banks do know, maybe from the account transactions or from HMRC.
I'm thinking it creates more costs and work for the banks, which is why a lot of them seem to be discouraging new applications from outside the UK. Just speculating.
It's then up to the banks own policy to determine whether the 2 UK accounts satisfy them. Just because other data is out there, it's not always regarded as a red flag.
Edited to correct error.
Talk is cheap
Re: UK bank closing accounts for customers living in Thailand
Starling Bank application still pending review the following day so maybe they know I'm not in the UK as well.
Or ... they don't have enough staff to check applications which seems to be the status quo for the UK these days.
Or ... they don't have enough staff to check applications which seems to be the status quo for the UK these days.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: UK bank closing accounts for customers living in Thailand
Starling Bank account was approved today.
All relatively painless but you do need proof of UK address and a UK number that can receive an SMS (I got a pal to buy a SIM there, register it to me, activate it, stick a tenner on it, and mail it here.) Additionally, their debit card works overseas and has no fees.
Now have a backup bank account should the regular ones decide I'm no longer worthy to give them my money.
All relatively painless but you do need proof of UK address and a UK number that can receive an SMS (I got a pal to buy a SIM there, register it to me, activate it, stick a tenner on it, and mail it here.) Additionally, their debit card works overseas and has no fees.
Now have a backup bank account should the regular ones decide I'm no longer worthy to give them my money.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: UK bank closing accounts for customers living in Thailand
Buksida, have you received your debit card by post yet? I've been waiting over two weeks and I'm starting to worry something has gone wrong with my application.
Re: UK bank closing accounts for customers living in Thailand
The account application was only approved today after a five-day wait ... so I'm not holding my breath for the debit card! Will use the Wise card if needed.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: UK bank closing accounts for customers living in Thailand
The banks’ algorithm will detect quite quickly where the account holder is living.Robinhood wrote: ↑Thu Mar 02, 2023 8:31 am Burksida "I have two accounts in the UK and don't use a Thai address for either, if you don't tell them, they won't know. Will give Starling a go though."
I think the banks do know, maybe from the account transactions or from HMRC.
I'm thinking it creates more costs and work for the banks, which is why a lot of them seem to be discouraging new applications from outside the UK. Just speculating.
If you live in Thailand you need a Thai account for everyday matters, perhaps move money from the UK every couple of months.
Re: UK bank closing accounts for customers living in Thailand
Hi 2/cb
I agree the UK banks systems will notice that the cards are only used in the UK for short periods of time.
I do have a Thai bank account with Kbank, but can't use this account for a number of UK based transactions that repeat every month.
I agree the UK banks systems will notice that the cards are only used in the UK for short periods of time.
I do have a Thai bank account with Kbank, but can't use this account for a number of UK based transactions that repeat every month.
Re: UK bank closing accounts for customers living in Thailand
UK banks must really want to ditch their customers if they're going to lengths such as counting card usage, monitoring transactions on individual accounts, or liaising with immigration.
Are banks in other countries so restrictive?
Are banks in other countries so restrictive?
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
- Green Nomad
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Re: UK bank closing accounts for customers living in Thailand
Couple of points on this subject.
I have been living and working overseas from UK for best part of 30 years, and in that time I have always been with Barclays. Recently (last summer), I spoke with a lady from the bank over the phone ref ordering a new pin reader and debit card, to be sent to me in Saudi. There was no mention ref closing, although she did say we cannot send card or reader to an overseas address, got round this by asking someone to bring back for me.
While I was on the phone with her I asked if there was any danger of my account being closed anytime soon?, she said Barclays has no intention of closing accounts for overseas clients at present, and anyway this has all been brought on due to Brexit, so really only affects European expats. However, I did see an article on an Expat forum listing banks and their plans etc, which was very differing in each banks ideas of what they were doing or intending. Was also talking with my financial advisor and he suggested opening an account with Wise, I have used Transfer wise for several years, so I did so. Buksida, I noticed you mentioned using a Wise card, is this in Thailand? I was of the understanding Wise were not offering cards in Thailand as yet.
I have been living and working overseas from UK for best part of 30 years, and in that time I have always been with Barclays. Recently (last summer), I spoke with a lady from the bank over the phone ref ordering a new pin reader and debit card, to be sent to me in Saudi. There was no mention ref closing, although she did say we cannot send card or reader to an overseas address, got round this by asking someone to bring back for me.
While I was on the phone with her I asked if there was any danger of my account being closed anytime soon?, she said Barclays has no intention of closing accounts for overseas clients at present, and anyway this has all been brought on due to Brexit, so really only affects European expats. However, I did see an article on an Expat forum listing banks and their plans etc, which was very differing in each banks ideas of what they were doing or intending. Was also talking with my financial advisor and he suggested opening an account with Wise, I have used Transfer wise for several years, so I did so. Buksida, I noticed you mentioned using a Wise card, is this in Thailand? I was of the understanding Wise were not offering cards in Thailand as yet.
Re: UK bank closing accounts for customers living in Thailand
No, you can't get it in Thailand, I applied from the UK and only use it when I need USD in other countries - viewtopic.php?f=9&t=40894&start=15Green Nomad wrote: ↑Tue Mar 07, 2023 12:42 pm Buksida, I noticed you mentioned using a Wise card, is this in Thailand? I was of the understanding Wise were not offering cards in Thailand as yet.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: UK bank closing accounts for customers living in Thailand
Yes, it all started due to UK banks loosing the rights to offer banking services in Europe following the end of the Brexit transition period.
I think what has happened now is that UK banks compliance departments have started questioning where they are regulated to operate and banks have decided that it's just not worth the hassle to have non-UK accounts.
I think what has happened now is that UK banks compliance departments have started questioning where they are regulated to operate and banks have decided that it's just not worth the hassle to have non-UK accounts.
- Green Nomad
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- Joined: Mon Jun 23, 2008 8:39 pm
- Location: Saudi Arabia and Hua Hin.
Re: UK bank closing accounts for customers living in Thailand
Thanks buksida, I have read the thread you posted ref Wise card.
Re: UK bank closing accounts for customers living in Thailand
Barclays sent my debit card and a replacement pin reader to Saudi although it was over 11 years ago.Green Nomad wrote: ↑Tue Mar 07, 2023 12:42 pm Couple of points on this subject.
I have been living and working overseas from UK for best part of 30 years, and in that time I have always been with Barclays. Recently (last summer), I spoke with a lady from the bank over the phone ref ordering a new pin reader and debit card, to be sent to me in Saudi. There was no mention ref closing, although she did say we cannot send card or reader to an overseas address, got round this by asking someone to bring back for me.
'If you didn't have a wasted youth you wasted your youth'
Man in pub circa 1987.
Man in pub circa 1987.
Re: UK bank closing accounts for customers living in Thailand
I have been living in Thailand since 2005 and have 3 UK bank accounts. They are all active (otherwise why have them?) and unlike many avoiding UK pension annual increases, I openly declare my Thailand address.
No bank has contacted me on this issue and with all I have Debit Cards or credit cards which are used - one card requires me to have my renewal card sent to a UK address - no problem.
No bank has contacted me on this issue and with all I have Debit Cards or credit cards which are used - one card requires me to have my renewal card sent to a UK address - no problem.
Courage is grace under pressure and when circumstances change you change your mind.