UK Bank account, non resident what are the options?

Borisjake

As the title suggests, I'm looking for a solution to a possible dilemma. I live in Japan and have a UK pension provider who will only pay out to a UK bank. I have that covered with an international bank account. My concern is, if I check out tomorrow, the company will only pay my loot to my beneficiary, aka wife, into a UK bank account. She is Japanese and naturally lives with me, never lived in the UK therefore doesn't have an account there.
One possibility is to change my account to a joint account, then if the fan is hit she could use that. The few banks I've looked at either have a high minimum deposit or monthly fees.
It seems a quite a pain to open an account 'just in case', and for what would be a one off payment.
Is anyone in a similar position? Back in the day there was a selection of IOM banks, but it seems no more....

jonesMUFCforever

You will not be able to make the account joint without both of you being present at a branch - they might even refuse your application if you are non resident.
Which bank are you with currently? To do what you want you may well have to pay fees?

colsten

How about an HSBC expat account? Probably costs a fair few bob but might do what you want.

If you are unable to find a bank which meets your requirements, you could have a look at Transferwise. They aren't a bank (no deposit protection) but will probably tick most of your boxes. They'll certainly give you a UK sort code and account number, and their exchange rates/costs generally beat any bank by a wide margin.

Borisjake

Thanks for the replies. I've been dealing with my bank for many years, never actually set foot in the branch! It's on the IOM if it makes a difference. No issues at all with residence, everything is managed on line or by mail. As I mentioned, I'm just trying to lay the groundwork for my wife in case anything happens. The pension isn't small enough to ignore, and I've realised how difficult it can be for non UK citizens to sort out inheritance issues when it's too late.

I'll check Transferwise, a UK sort code would maybe be enough.
My provider told me they don't like/want international transfers due to potential tax issues. Can't think why, I do it occasionally.