Article in The Pattaya Mail says Barclays Bank are going to charge international customers 40 pound a month if they don’t maintain a balance of 100,000 pounds a month in their account. That’s about 1750 baht according to the article. Just passing the information on. That’s outrageous I reckon.
Barclays Bank
- Thread starter Youngun
- Start date
CO-CO
Rather wrinkly & occasionally cantankerous member
Relax...... Barclays International customers only.
www.pattayamail.com
Barclays international customers to be charged shock monthly fee - Pattaya Mail
Thai expat customers of UK-based Barclays bank are reeling from the news that they will be automatically charged 40 pounds monthly (around 1,750 baht) if they fail to maintain a balance of 100,000 pounds in their accounts. The information was relayed this week by email to all Barclays customers...
www.pattayamail.com
FERRET
WELL WORN MEMBER
Outrageous ???, thats bulls*it.
CO-CO
Rather wrinkly & occasionally cantankerous member
This is not 'ordinary' domestic banking which most people (except Yorky) have.
Barclays International is not the UK Barclays Bank.
Yorky will now watch Nat West International with interest.
Yorky
Fullritis Member
My account in NatWest International, Isle of Man, is currently costing me £8.00/month (irrespective of how much money I have in there).
nomad97
Resident Geek
The standard charge for my account with Lloyds International (Isle of Man) is £20 per month for balances less than £1,000. For balances over £1,000, there are no standing charges.
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CO-CO
Rather wrinkly & occasionally cantankerous member
I am not a fan of UK bank 'international' accounts for retirees. I don't see any benefits and, as Nick has previously highlighted, these are a ******* to deal with if Probate is required.
The reasons for Yorky and Nomad have international accounts is obvious - but those reasons have long gone and the charges are simply a waste of good beer tokens....
The reasons for Yorky and Nomad have international accounts is obvious - but those reasons have long gone and the charges are simply a waste of good beer tokens....
Yorky
Fullritis Member
Is it now possible for me to obtain a UK bank account having only a Thai address?
Or should I just abandon the idea of an account outside Thailand?
CO-CO
Rather wrinkly & occasionally cantankerous member
nomad97
Resident Geek
Yes, I set up an international account while working overseas in a tax-free environment. I was Ordinarily Non-Resident for UK tax purposes. Since then, I am without a UK address and I am, therefore, unable to open a standard account within the UK. I have one pension that is paid directly into my Wise account. I did this a couple of years ago on a trial basis and I must say, it works very well.
@CO-CO, from what you have said previously, would you recommend that I do the same with my other 2 pensions and close the Lloyds International account?
Yorky
Fullritis Member
That was also my situation 27 years ago (February '95).
I do not wish my OAP to be changed to Baht unless the exchange rate is favourable. Therefore except for 2 transfers it has accumulated in RBSI and NWI for the past 6+ years.
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CO-CO
Rather wrinkly & occasionally cantankerous member
Frankly, "yes" Steve.
It would appear that the Lloyds International account has served it's purpose and is now potentially costing you unnecessary fees.
You will not thank me for this advice if Wise suddenly change their business model in 2 years time
. The chances of that are negligible and the plan B is to have the pensions remitted directly to a Thai bank account.Nick may already have spoken to you about making prior arrangements, for an account for SWMBO, to receive any widows pension that may eventually become payable. That may simply be direct to a Thai account - or routed through Wise.
Prakhonchai Nick
You chose a custom title
I have been with Barclays UK for over 60 years. When I moved to Thailand I registered my address at my sisters house. My debit cards are sent to her home. It has been fairly clear all along that Barclays UK will not deal with overseas based customers (or at least not those outside the EU). Nationwide, where I also have an account are the same. I am UK resident as far as they are concerned.
Wise is fine with an overseas address and though not a bank in the true sense. payments can be deposited into your account (no cheques) and you can hold a balance (no interest) indefinitely.
Wise is fine with an overseas address and though not a bank in the true sense. payments can be deposited into your account (no cheques) and you can hold a balance (no interest) indefinitely.
CO-CO
Rather wrinkly & occasionally cantankerous member
I also present the persona of UK resident, thanks to an accommodating ex-wife. Only one bank that I use holds my Thailand address.....I certainly don't want post coming here (I am almost 100% paperless).
Whilst I will not give up any UK banks in the near future, I cannot speak highly enough of Wise. I move a lot of money through them and the have revolutionised the timing and cost of international transfers.
Whilst I will not give up any UK banks in the near future, I cannot speak highly enough of Wise. I move a lot of money through them and the have revolutionised the timing and cost of international transfers.
nomad97
Resident Geek
Yes, I do have a nagging thought, once I give up the Lloyds account, that will be it. I will never be able to get another UK-based bank account. I have kept it on for that reason. However, to avoid the problems with Probate, and the cost involved to obtain the money once I am no longer here, I have paid £20 per month and kept a very minimum balance in the account.Frankly, "yes" Steve.
It would appear that the Lloyds International account has served it's purpose and is now potentially costing you unnecessary fees.
You will not thank me for this advice if Wise suddenly change their business model in 2 years time
Nick may already have spoken to you about making prior arrangements, for an account for SWMBO, to receive any widows pension that may eventually become payable. That may simply be direct to a Thai account - or routed through Wise.
Paying my three pensions directly into my Thai bank account is a possibility although I have heard that the transfers can take time. Moreover, the transfers are something over which I would have no control. On the other hand, I have found WISE to be very efficient, flexible, timely, reliable, and easy to manage. I also like the email that confirms the money has been paid into my account. I have also considered opening a WISE account for my wife for routing what is left of my pensions.
Thank you @CO-CO, I value your opinion. I will take steps to redirect my other two pensions to WISE. Once established, I will then close the Isle of Man account.
CO-CO
Rather wrinkly & occasionally cantankerous member
Steve, remember, the 'International' account is not UK based (that is where Probate issues arise).
You don't have a UK based bank account anyway so you are effectively losing nothing. .... perhaps only the ability to undertake some Sterling transactions - most of which you can do with Wise. .
..........and you will have GBP 240 p.a. to fund your IT hobby
Prakhonchai Nick
You chose a custom title
Forget the IT hobby.
The extra money will buy some 20 bottles of
The extra money will buy some 20 bottles of
CO-CO
Rather wrinkly & occasionally cantankerous member
Yorky
Fullritis Member
I'm surprised that @alanthebuilder hasn't contributed to this thread given his knowledge of international banking.