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@leonardsmith75 I get my UK pension from DWP ok here although at first I didn't tell them. The crunch came when my UK Bank (Santander) closed my accounts and cancelled my credit cards. At that point I had to arrange to have my pension(s) paid into my Philippines bank account and apart from the obvious delay in payment (about 5 days) it seems to be working well. I still pay UK tax on my pensions because I have been unable to register as a Philippine tax payer because unfortunately there is only one BIR office that deals with foreigners and that is in Manila. Proof of Life is only every 2 years and if you call DWP (which I do through Skype) and explain that the earliest a letter will reach UK is 6 weeks they will extend the time you have to reply.

The easiest thing to do is to have a mail address in the UK and have everything from the UK bank sent there. No problem. Have a 13a permanent residence visa. I do transfers via Xoom from my UK bank to my BDO account which take anything from 1 minute to 20 minutes for completion and costs £2 per transaction unless over about 73,000 pesos then is free. Hope that helps.

The easiest thing to do is to have a mail address in the UK and have everything from the UK bank sent there. No problem. Have a 13a permanent residence visa. I do transfers via Xoom from my UK bank to my BDO account which take anything from 1 minute to 20 minutes for completion and costs £2 per transaction unless over about 73,000 pesos then is free. Hope that helps. - @tphgawn

I did that for a while, I used my daughters address but when she tried to send me a new debit card (I needed my debit card to authorise my remittances online) DHL rejected the package because they now scan everything and they don't allow credit or debit cards to be sent. At that point I changed my address with my bank to my Philippines address and although they seemed to accept that and even sent me new cards by snail mail they eventually cancelled my account and credit cards without giving an explanation.

@FindlayMacD

The crunch came when my UK Bank (Santander) closed my accounts and cancelled my credit cards.

So they actually de-banked you for living in the Philippines? Is it illegal to live in the Philippines snd have a UK.bank account? In the US it is not compulsory to live in the US, yet, but sometimes it is problematic with bigger banks like Chase and BofA.

For Americans banks are free to cancel you if your "know your customer" KYC risk profile might be perceived as high risk by government agencies or by other banks. For example, making too many large deposits and withdrawals, online gambling or even buying legal delta 8-9 THC hemp online (no difference to marijuana THC, very intoxicating, but it is legal by the US farm bill loophole that has sellers measure THC content while it us still alive with liw THC, before the hemp plant manufactures most of its THC after cutting it). It is available online everywhere but such purchase records could cause them to cancel a person for being a potential risk of dr@g trafficking, especially if living overseas.

USA banks and CC card companies usually implement 2FA SMS authentication for online banking, with KYC being just as important as online security. They use SMS in part to verify that you have a real USA phone number on the cell network.

I am interested to know how expats in other  countries deal with KYC type regulations or if perhaps they are free of them.. Also, I wonder if the Philippines has know your customer regulations as well (i.e. I saw on a Reekay video, when making a bank withdrawal, they made him tell them what he was using the money for).

@FindlayMacD
The crunch came when my UK Bank (Santander) closed my accounts and cancelled my credit cards.
So they actually de-banked you for living in the Philippines? Is it illegal to live in the Philippines snd have a UK.bank account? In the US it is not compulsory to live in the US, yet, but sometimes it is problematic with bigger banks like Chase and BofA.

For Americans banks are free to cancel you if your "know your customer" KYC risk profile might be perceived as high risk by government agencies or by other banks. For example, making too many large deposits and withdrawals, online gambling or even buying legal delta 8-9 THC hemp online (no difference to marijuana THC, very intoxicating, but it is legal by the US farm bill loophole that has sellers measure THC content while it us still alive with liw THC, before the hemp plant manufactures most of its THC after cutting it). It is available online everywhere but such purchase records could cause them to cancel a person for being a potential risk of dr@g trafficking, especially if living overseas.

USA banks and CC card companies usually implement 2FA SMS authentication for online banking, with KYC being just as important as online security. They use SMS in part to verify that you have a real USA phone number on the cell network.

I am interested to know how expats in other countries deal with KYC type regulations or if perhaps they are free of them.. Also, I wonder if the Philippines has know your customer regulations as well (i.e. I saw on a Reekay video, when making a bank withdrawal, they made him tell them what he was using the money for). - @danfinn

I think they de-banked me because I was not profitable for them, my 2 pensions amounting to around £1,000 got paid into that bank account every month and apart from what I had to leave there to pay off my credit cards each month, the rest was transferred to the Philippines, but I never once went into overdraft with them and cleared my credit card bills every month. I always left a balance of around £200 to £300 in there as well.

Yes Dan it's very interesting how different countries operate, some good while many problems with others.

Australia.

I have an investment account with SuncorpMetway and an operating account with Westpac bank and a couple of BDO accounts here in PH.

I have never heard of "KYC" and simply have an app for Suncorp verification and works perfectly with my local mobile as does Westpac send me an SMS to my mobile here and no problems shifting funds.

We did away with Amex and Mastercard years ago as not needed and simply use the Westpac debit card as well as our BDO debit cards.

My sis held my Westpac debit card for over 2 years and simply gave me all the details as  only use that for flight and hotel bookings and all online.

Yes I have an address in Oz that I use (my nephews) and no questions ever asked.

Yes when we shift funds here we get the call from BDO asking "sir did you know that XYZ has been deposited to your account?" Yes mam "where did that come from and what are you going to use it for?"

Most of us have been there and they are simply doing their job.

Honestly Dan never an issue with Aussie banks.

Cheers, Steve.

An ad on for readers. I will never get a government pension as apparently I worked too hard and will never qualify, I suppose the beauty of that is no need to jump through all the hoops and deal with drones and pathetic red tape and the crap I see many try to traverse, sad.

I realized after research that my private superannuation fund that I paid into for 40 years that all my dividends were taxes @ 15%, sure I knew my inputs were also taxed at the same level but par for the course.

Further delving revealed that if I rolled it into a pension fund with any Australian super company that my dividends/earnings were not taxable and the pension paid was not taxable.

My bad and I should have been on top of this many years ago, after the transition to pension mode I'm saving AU 30/35K per year in taxes. Private super companies require no proof of life and if I kick the bucket will continue to pay my pension to my heirs or they can elect to take the lump sum and again not taxable. Frigging government pensions are a take on the workers believing they will be looked after.

OMO.

Cheers, Steve.

I am wondering if there will also be problems with private, military and work placed pensions also if I ever moved to the Philippines.

@Cherryann01

Only if you stop your alimony payments to your ex Ukrainian Mrs 😉