Did anyone find a solution to a UK bank closing the UK account of a customer based in Thailand?
I'm with Santander, and they seem to have noticed I'm in Thailand. They also mention HMRC, and me being classed as non-UK resident. (Even though I pay UK tax and my Santander account has money coming in and going out).
Basically, I've got until the beginning of April to find a solution??
TSB really screwed everything up. I was basically reduced to phoning them to ask, 'are you going to close my effing accounts, or not?'. They had left two open, an erreneous cheque was paid against one, nothing to do with me, when the balance was zero. When they cleared the cheque payment, they didn't clear the debt for being overdrawn at the same time and still left the account open! Eventually they cleared the debt and closed the accounts and paid me £200 compensation.
About a month ago, my friend whose UK address I use, messaged me urgently, that I have a letter from TSB and it's obviously a card, so I am on my way to post it to you. I finally managed to contact her when she was queuing in the Post Office. It was a new debit card for one of my closed accounts. Worrying.
Robinhood wrote: ↑Wed Feb 15, 2023 9:11 am
Did anyone find a solution to a UK bank closing the UK account of a customer based in Thailand?
I'm with Santander, and they seem to have noticed I'm in Thailand. They also mention HMRC, and me being classed as non-UK resident. (Even though I pay UK tax and my Santander account has money coming in and going out).
Basically, I've got until the beginning of April to find a solution??
You would be non-UK resident if you remain outside the UK and do not spend more than (about 30days) in any one year there.The good news if you have reported this is that you are no longer liable for any capital gain earnings that arose in the UK eg on stock market share sales etc
Courage is grace under pressure and when circumstances change you change your mind.
Robinhood wrote:Did anyone find a solution to a UK bank closing the UK account of a customer based in Thailand?
I'm with Santander, and they seem to have noticed I'm in Thailand. They also mention HMRC, and me being classed as non-UK resident. (Even though I pay UK tax and my Santander account has money coming in and going out).
Basically, I've got until the beginning of April to find a solution??
I was hounded by Santander last year and was certain that they were going to close my account.
After my account being restricted (no ins and no outs) and a number of lengthy calls answering everything to my bra size, it seems that my account remains operation for the time being.
Whilst all this was going on I set a bank account up with Wise. Easy to set up and seems to be working fine up to now.
Not sure what’s going on with the banks in the UK but a number of expat friends have also face similar issues.
Robinhood wrote: ↑Wed Feb 15, 2023 9:11 am
Did anyone find a solution to a UK bank closing the UK account of a customer based in Thailand?
I'm with Santander, and they seem to have noticed I'm in Thailand. They also mention HMRC, and me being classed as non-UK resident. (Even though I pay UK tax and my Santander account has money coming in and going out).
Basically, I've got until the beginning of April to find a solution??
You would be non-UK resident if you remain outside the UK and do not spend more than (about 30days) in any one year there.The good news if you have reported this is that you are no longer liable for any capital gain earnings that arose in the UK eg on stock market share sales etc
Are you totally sure this applies to capital gains on sale of UK properties owned by overseas individuals and entities?
You would be non-UK resident if you remain outside the UK and do not spend more than (about 30days) in any one year there.The good news if you have reported this is that you are no longer liable for any capital gain earnings that arose in the UK eg on stock market share sales etc
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Are you totally sure this applies to capital gains on sale of UK properties owned by overseas individuals and entities?
[/quote]
Sorry I thought we were referring to British Subjects
Courage is grace under pressure and when circumstances change you change your mind.
Hi, Thanks for the replies. I'm not too worried about capital gains at this stage. I'm concerned that if I don't have a UK current account it's difficult for me to handle my finances. I need another UK account.
Not had any issues with HSBC or NatWest and rarely been in the UK for many years. As long as the account is active and has a UK address I suspect it is not an issue with the major banks. My bank is well aware that I live out here and the “live here but not a resident” status of the majority who are on non imm visas. Is this possibly an issue with banks that were previously building society’s.
Robinhood wrote:Hi, Thanks for the replies. I'm not too worried about capital gains at this stage. I'm concerned that if I don't have a UK current account it's difficult for me to handle my finances. I need another UK account.
Register with Wise (formally transfer wise)
I have a current account, option for a savings account, and have a debit card in my wallet that works in the ATM here, in store and online purchases.
Much easier than trying to open a high street bank account.
One possible worry, high street UK banks are backed by the government, so if they go bust you get up to 80K back, I need to check if Wise has this backup.
Robinhood wrote:Did anyone find a solution to a UK bank closing the UK account of a customer based in Thailand?
I'm with Santander, and they seem to have noticed I'm in Thailand. They also mention HMRC, and me being classed as non-UK resident. (Even though I pay UK tax and my Santander account has money coming in and going out).
Basically, I've got until the beginning of April to find a solution??
I was hounded by Santander last year and was certain that they were going to close my account.
After my account being restricted (no ins and no outs) and a number of lengthy calls answering everything to my bra size, it seems that my account remains operation for the time being.
Whilst all this was going on I set a bank account up with Wise. Easy to set up and seems to be working fine up to now.
Not sure what’s going on with the banks in the UK but a number of expat friends have also face similar issues.
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Would Santander International based offshore suit your needs? I've got a couple of accounts with them and not received any threat about closures as I presume they cater for non UK residents.
'If you didn't have a wasted youth you wasted your youth'
Pretty much every bank/financial institution wants an address nowadays ... even PayPal and Wise are linked to an address.
It is a concern that those in the UK are now actively seeking to boot customers that don't live there. Offshore banking could be the answer, but many have minimum balance charges.
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
I have an account with HSBC UK. During COVID-19 the account didn't have any transactions for over 6 months for one period. This resulted in the account being frozen and I had to go through the Know Your Customer palaver to unfreeze it.
At no time was it suggested that I should close my account because I don't live in UK.
