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arbon

Mar 23, 2010, 11:15 AM

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British Pensions in Mexico

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Can British Ex-Pats receive their British pensions in a United States Bank, if they live in Mexico.
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La Isla

Mar 23, 2010, 11:19 AM

Post #2 of 7 (6200 views)

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Re: [arbon] British Pensions in Mexico

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I suggest writing to the pertinent government office in the UK to see if they can direct deposit your pension payments in, for example, a Bank of America account. Then you could withdraw your money in pesos from a Scotiabank or Santander Serfin ATM anywhere in Mexico without incurring service charges .

lostinmex

Mar 23, 2010, 8:28 PM

Post #3 of 7 (6127 views)

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Re: [arbon] British Pensions in Mexico

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Won't you be incurring two foreign exchange transactions-from Sterling to dollars,then dollars to pesos?

I imagine the largeer banks in Mexico,which are all foreign-owned,also have operations in the UK. You might,for example, be able to have your check deposited to HSBC London and then take it out in pesos at am HSBC Mexico branch. Same with BBVA, Citibank,Scoia, Santander,etc. Over time the savings might be meaningful for you.

(This post was edited by lostinmex on Mar 23, 2010, 8:29 PM)

Casa

Mar 23, 2010, 10:27 PM

Post #4 of 7 (6113 views)

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Re: [arbon] British Pensions in Mexico

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www.Britishpension.com says

· Can I have my UK pension paid to me in the United States or Canada?

This depends on your pension provider. Some insist that pension monies are paid into a UK Bank. Others will wire transfer funds to your US or Canadian Bank but you will be liable for the Bank charges.

(That is assuming of course you already have an account set up in the US or are eligible to set up an account, often times a US address and Social Security number are required)

Mexberry

May 12, 2010, 6:42 PM

Post #5 of 7 (5720 views)

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Re: [Casa] British Pensions in Mexico

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Arbon,
Yes you can get your UK pension deposited in a Canadian bank - my wife does.
A word of caution - UK pensioners living in Canada, Australia, NZ and S Africa- I dont know about mexico - do not get their pensions increased with inflation.(In the US they do !) After a few years it really will make a difference to the value of your pension. I believe the pension office is located in Newcastle upon Tyne.
Mexberry.

arbon

May 12, 2010, 7:41 PM

Post #6 of 7 (5701 views)

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Re: [Mexberry] British Pensions in Mexico

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"Yes you can get your UK pension deposited in a Canadian bank - my wife does.
A word of caution - UK pensioners living in Canada, Australia, NZ and S Africa- I dont know about mexico - do not get their pensions increased with inflation.(In the US they do !) After a few years it really will make a difference to the value of your pension. I believe the pension office is located in Newcastle upon Tyne."
Mexberry.

Thanks but I am in Canada, and the question is..........

"Can British Ex-Pats receive their British pensions in a United States Bank, if they live in Mexico."

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Mexberry

May 12, 2010, 8:03 PM

Post #7 of 7 (5688 views)

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Re: [arbon] British Pensions in Mexico

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I don't see why not. However I would contact the pension service in the UK. Here is a ph. # +44 191 218 7777 . Mon - Fri 8am - 5pm.