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Uk bank account loving in Thailand

Simonbolton

Hi,

I meant living in Thailand....

I am planning on moving to Thailand in the near future. My uk bank has told me that if I move abroad they have the right to close my account.  I have a lot of savings, and a pension being paid in every month.  I would not want to lose the account, in case I need to move back to the UK in the future.  They are saying if I no longer have a UK address then they can do this.

Does anyone have any advice on how to address this??

I don't want it closing as I wouldn't want to have all my savings in a Thai account.

Obviously, they would know I was abroad if I used my debit card.

Regards

Simon

See also

Thai Credit CardsOpening a bank account in ThailandMoney in ThailandBangkok BankThailand Banks
Walnutcharles

The UK and the USA banks all have to have a in the country a local address.  It's the law now days.

The easiest way around is ask a friend or relative can you use their home address and if they say yes them move your address on your  bank account to that address. 

I would also recommend that you tell your bank to email you all of your account information as you do not want to receive any hard copy of anything from the bank.

It's so your physical address in your home country does not have any mail that your friend or relatives need to see.

Simonbolton

@Walnutcharles

Yes, I thought about that.

It's an option, thank you very much for your advice.

aidi mustapha

Dear sir.


Please look HSBC bank, even if you lives abroad, you can keep your bank account in uk. You just need to use this account sometimes to the account is still active.

Check with them what they can do.

Take care

UdonPete

Find a UK address to use then all will be well, most living overseas do this - use just the internet banking

Another way is to use "Wise" - easy to set up and can be used anywhere in the world - best rates of exchange when sending money from your UK bank to Thailand.

The "Wise" card is also an easy way to access money when you are overseas.

One very important item before any move is the availability of medical insurance for yourself. If it helps I recommend these people who have proved reliable to me over time and very helpful. 

Suggest check out their web site for an idea of options/prices

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Simonbolton

@aidi mustapha

What type of account is this???

They do have one for expats, but you need to deposit £75,000 or have income of £120,000 pa.

If you know of another type of account they do that allows you to live abroad, then please let me know.

Simon

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Simonbolton

@UdonPete

Thank you for your advice.

Simon