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UK State Pension

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Old Jun 19th 2024 | 8:31 am
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Default UK State Pension

I'm trying unsuccessfully to get the UK pension paid into my O Bee Credit Union account, currently my private work pension and British Army pension are transferred every month, however, Overseas pension section accepts my routing number but rejects my account number, I'm using same details as for my other pensions and my UK pension keeps getting paid into my UK account.
Any ideas or advice?
 
Old Jun 19th 2024 | 9:51 am
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Default Re: UK State Pension

You need to check with your bank that the SWIFT/BIC codes are correct. You will need to provide those along with your other account details.
 
Old Jun 19th 2024 | 11:31 am
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Default Re: UK State Pension

O Bee doesn't use Swift or BIC, other pension providers use info the UK Pensions rejected
 
Old Jun 19th 2024 | 12:10 pm
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Default Re: UK State Pension

Originally Posted by MikeSwirles
O Bee doesn't use Swift or BIC, other pension providers use info the UK Pensions rejected
Sounds as if you need to call or email to get more specifics as to just what the problem is.
 
Old Jun 19th 2024 | 6:09 pm
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Default Re: UK State Pension

Looks like you will have to use an intermediary account of some kind.

https://banks-america.com/swift-code/o-bee/

 
Old Jun 20th 2024 | 4:26 am
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Default Re: UK State Pension

Originally Posted by calman014
Looks like you will have to use an intermediary account of some kind.

https://banks-america.com/swift-code/o-bee/

Wise...... ..
 
Old Jun 20th 2024 | 5:58 am
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Default Re: UK State Pension

Originally Posted by calman014
Looks like you will have to use an intermediary account of some kind.

https://banks-america.com/swift-code/o-bee/
Reading, and interpreting the link for MikeSwirles , he needs to contact O-Bee and ask them for their correspondent bank details* to receive international SWIFT payments wires, for credit to his O-Bee account. To be clear a "correspondent account" is something your bank already has, not something that customers arrange for themselves.

* ALL banks have correspondent banks to enable international transfers to be made, but midsize and large banks can handle liason with their correspondents in the background, without needing to involve their customers, who will likely never know that (made up example) their wire from Clydesdale Bank plc to Citizens Bank NA was sent via Citibank NA, which is a correspondent with both banks.

Last edited by Pulaski; Jun 20th 2024 at 6:12 am.
 
Old Jun 20th 2024 | 6:05 am
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Default Re: UK State Pension

O Bee don't have connection to other banks, was in there this morning, I'm getting it paid into my Wise or TorFX account and transferring it myself
 
Old Jun 20th 2024 | 6:15 am
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Default Re: UK State Pension

Originally Posted by MikeSwirles
O Bee don't have connection to other banks, was in there this morning, I'm getting it paid into my Wise or TorFX account and transferring it myself
A bank, or credit union cannot operate as a bank/ CU without a connection to at least one other bank. It would be like operating a powerstation without a connection to the distribution grid.

If you read the small print of the O-Bee CU customer agreement it actually says "... We may also
pay wire transfers received by us for your benefit based solely on the account number. ...."

It appears likely that branch staff/ tellers at O-Bee are unaware of the procedures for receiving international wires as it is no doubt a rare occurrence.

Last edited by Pulaski; Jun 20th 2024 at 6:26 am.
 

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