PPF Pension Payments

Yorky said:
It appears that the PPF are using Citybank and allowing them to convert to Baht prior to transfer. The rate appeared to be 37.50.
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That’s one way of taking the piss...


41.03 this week from Transferwise.
 
Rule No.1 Never convert to baht in your home country
Rule No.2 See No.1 ...
 
The problem with those that pay pensions direct, whether they be retirement pensions, or widows pensions is that they invariably INSIST that they use THEIR bank to transfer the money, which is usually converted to baht before transfer. Best to have a UK bank account initially for receipt of pensions, then you can transfer how and when you want.
 
Definitely agree with Nomad on this, I now have my US Social Security paid direct to TransferWise and I am getting it a few days faster, with a better rate than my bank, and about 1/3 the fee my bank was charging.
 
Prakhonchai Nick said:
The problem with those that pay pensions direct, whether they be retirement pensions, or widows pensions is that they invariably INSIST that they use THEIR bank to transfer the money, which is usually converted to baht before transfer. Best to have a UK bank account initially for receipt of pensions, then you can transfer how and when you want.
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When the holiday is over, I shall instruct them either to change their payment method or start paying my pension (or "compensation" as they now call it) into my UK bank.
 
Co Co -NatWest charge GB P 30 for same day transfers Awhile back "NWB" got me to sign a Foreign Standing Order Request form & I have had no problems at all .
 
EnglishAlan said:
Co Co -NatWest charge GB P 30 for same day transfers Awhile back "NWB" got me to sign a Foreign Standing Order Request form & I have had no problems at all .
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Thanks Alan, that suggests that you are sending a fixed amount of Sterling each month.............. I presume your standing instruction is not to send a fixed amount of Baht.


Just by way of comparison, Transferwise would today transfer £1,000 at a rate of 41.3629 and a charge of £6.96 giving net 41,075 Baht into your Thai bank account.
 
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EnglishAlan said:
Co Co -NatWest charge GB P 30 for same day transfers Awhile back "NWB" got me to sign a Foreign Standing Order Request form & I have had no problems at all .
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They charged me Sterling 15.00 for my transfer in September 2018 (NatWest International, IoM).
 
Email from Barnett-Waddington overnight:

"I can confirm that Citibank are converting your pension into the local currency before making a payment into your account as all their payments must be made in the local currency as of March 2011."
 
When I transfer money to Thailand from my UK account and choose GBP a red worded warning of bullshit appears
 
Yorky said:
Email from Barnett-Waddington overnight:

"I can confirm that Citibank are converting your pension into the local currency before making a payment into your account as all their payments must be made in the local currency as of March 2011."
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This happens regularly with pensions to the widows we have assisted. Nothing that can be done about it in these cases as they do not have UK bank accounts. By converting to baht before sending the banks are making big money!

Get a Transferwise Borderless account, or any UK bank account Yorky, and insist Barnett-Waddington make your pension payments there
 
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