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Snowbird?

Discussion in 'Expat Section' started by cabb, Dec 28, 2022.

  1. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Army

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    I never said Boris Johnson supported the Liberal Democrats, he thinks himself as being Liberal as a person.
     
  2. charlyB

    charlyB DI Senior Member

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    I can only suggest you change your bank, my bank used to be called the Clydesdale Bank but is now called Virgin Money and over the last few years i have used a transfer company called Currencies Direct to transfer amounts between £5,000 and £20,000 with no problems.
    The only small problem comes at this end when the BDO deducts between 250 to 300 from the peso amount before it goes into my account.
    I have checked with Currencies Direct and the don't do transfers going the opposite way.
     
  3. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

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    I am with two banks and they are both the same - plus the same problems have happened to my wife and also a friend I have in the UK. I think the issue of freezing transactions in now more prevalent than it was and with people being forced to use online banking in the UK, the howls of discontent will get wider and louder.

    Also, I am not aware that it is possible to open a new UK bank account unless resident there. I have not even been able to use a stockbroker I already have an account with in the UK unless I am there.

    I thought about WISE and its multi-currency account on the basis that surely WISE is not going to question remitting money using its own service. But to get money into a new WISE account it has to be transferred from my two UK Banks and as one already stopped a piffling transfer to the other (i.e. between two MAJOR UK banks) in which the transfer was between accounts bearing exactly the same account name, I fear the same hassles. But it is a route I will explore further.

    I fully understand that this is happening prima facie because idiots are sending thousands of pounds to Nigerian lawyers in return for millions in gold (!) but underlying it is a steadily-increasing capital control system by governments put in place for the day soon-to-come when economies crash. It's our money but they want it.
     
  4. Garcia

    Garcia DI Senior Member

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    Uk banks will and do freeze accounts for many reasons and overnight. Happened to a good friend of mine. Can make life very difficult as you can imagine. Seriously also they really don't care if you end up frozen due to some minor reasons.

    Re opening a UK bank remotely try these.

    https://www.foersterformations.co.uk/

    Best....
     
  5. Mike_Haddon

    Mike_Haddon DI Forum Adept

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    Not exactly sure what it is that you have linked to Garcia. Do these people arrange account opening with UK banks? Only with UK banks? Do you have more detail how it works please? Cannot see any info re opening account living overseas.
     
  6. Garcia

    Garcia DI Senior Member

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    https://www.foersterformations.co.uk/bank accounts business bank accounts.asp

    Business and Personal Bank Accounts for allCredit Circumstances Types

    Suggest drop them an email, they open UK bank accounts. I have not used them but know they are in the business of opening accounts that might not be straightforward for many many years.

    If they don't provide what you're after I'd definitely ask if they know who would do.
     
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  7. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

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    Thanks for the information but this is clearly not a route to create a bank account if not within the UK. The site states:

    Account approval Process:
    Following receipt of our simple online application form we check the details and send them to Barclays by secure electronic submission, Barclays team will call to arrange an appointment at a time and branch to suit you, and will instruct you as to what ID/documents you need to bring along.

    One of the following Proof of Residence:
    • Bank Statement (dated within 3 month)
    • Utility Bill (Dated within 3 months)
    I am aware of the 'Know Your Customer' rules and that precludes the opening of bank accounts without having residence within a country - except where I opened a bank account in Singapore from London but had to attend an associate branch in London to provide identity and address documents. There is no way out that I know of - the banks have us by the short and curlies (not apply to Asians).

    I have looked into WISE but it has no FCA protection in the case it fails (that is currently £85,000 in the UK) but instead relies on 'safeguarding' clients' money by not investing it in risky assets.
     
  8. Garcia

    Garcia DI Senior Member

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    OK, didn't see that.

    Generally IMO the less KYC the riskier the territory or bank will be. Blame USA banking regs.

    Singapore also has no safety net, but then I believe has never had a fail. Doubt they'd let it happen anyway not that it would.

    As for Wise, I used them. But not any more. Safeguarding clients money, sounds lose as talk is cheap. Hardly Singapore Lol.

    Estonia?
     
  9. Crystalhead

    Crystalhead ADMIN Admin ★ Forum Moderator ★ ★ Global Mod ★ ★ Moderator ★ ★★ Forum Sponsor ★★ ★ No Ads ★ Highly Rated Poster Showcase Reviewer Veteran Army

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    Perhaps we can post future banking topics here, Thread called (BANKING) Keeping a topic where it belongs gives much more information to all Expats & Guests as it is less scattered (and I know that's what Rye88 prefers). Thanks to all.
    https://dumagueteinfo.com/board/threads/banking.57452/page-2#post-225518

    This thread pertains to a slang that refers to variations on where a Person or Couple travel to or move to part time. Have fun out there .....all!
     
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    Last edited: Jan 4, 2023
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