It’s Your Money > Social Security and Pensions
UK Citizen and Company Pensions
hayling:
Hello
I am a UK citizen, I currently live in New York, have been here 8 years, and have a Citi Bank checking account. As I have not lived or visited the UK for 9 years I can not have a UK bank account.
I have two company pensions, only around 600GBP each month that are currently paid into my US Citibank account.
I am shortly to move to the Philippines and will be initially on a tourist visa renewing, until I can establish there with my Filipino partner.
My question is this.....Initially I can still have my US Citibank account, but as I will no longer maintain a US address, this is likely to become risky to keep, and I am paying for my pensions to be transferred into US$, and soon into PHP.....what would be my best options for securring a reliable monthly balance?
I suspect I can't open an account in PI to start, but I wonder if anyone else has had similar situations?
Thanks in advance for any advice.
JoeLP:
Your address will become the issue. I still keep my US bank account, but use a sister's address as my address for that account. Zero problems so far and been on tourist visa for 4 years. Might have to do one of those "buy and address" things. My dad did that when he had a motor home. Paid some low cost(think it was $200) for legal ownership(shared) of property in Montana. He always had Montana license plates and all on it. But that got him a Montana post office box that would be forwarded to his real address.
It saved him money on insurance and licenses and all that. But I know there are other setups like that across the country.
hayling:
--- Quote from: JoeLP on August 24, 2017, 06:24:22 AM ---Your address will become the issue. I still keep my US bank account, but use a sister's address as my address for that account. Zero problems so far and been on tourist visa for 4 years. Might have to do one of those "buy and address" things. My dad did that when he had a motor home. Paid some low cost(think it was $200) for legal ownership(shared) of property in Montana. He always had Montana license plates and all on it. But that got him a Montana post office box that would be forwarded to his real address.
It saved him money on insurance and licenses and all that. But I know there are other setups like that across the country.
--- End quote ---
Thanks so much will look at the options, see what theer is although to sedn from the UK to USA and then to PI seems a long waya round, not to mention losing on all the conversion rates and exchanges.
M.C.A.:
Hopefully you can find a Philippine bank here that will accept a pension account so you could have a direct deposit to your Philippine bank, I know PNB does this but I don't know all the banks, also it might be difficult to open a bank account with out a 13a Visa but I have heard others that were able to do this with a ACR card.
Make sure to bring plenty of checks if that card gets lost what a hassle.
hayling:
--- Quote from: M.C.A. on August 24, 2017, 05:26:14 PM ---Hopefully you can find a Philippine bank here that will accept a pension account so you could have a direct deposit to your Philippine bank, I know PNB does this but I don't know all the banks, also it might be difficult to open a bank account with out a 13a Visa but I have heard others that were able to do this with a ACR card.
Make sure to bring plenty of checks if that card gets lost what a hassle.
--- End quote ---
Thanks M.C.A. Yes I should hopefully be able to get the ACR Card, as I agree a direct account there would be much easier. Will look into this for sure.
I can bring lots of checks with me from my US bank, but are they valid there in US$?
Navigation
[0] Message Index
[#] Next page
Go to full version