Best method to receive UK penion?

Wheety

My Dad is receiving a small UK pension. He doesn't have a bank account and gets paid into a credit union.

He has given me his paper work to have a look, because he recently received a letter from the Credit Union. It seems that when the payment was set up, the CU used a PTSB account as a clearing account. Someone in the CU would have to look at the deposits and then transfer them to the relevant CU account.

They have asked members to change any payments to their own personal IBAN. One of the documents is from 2011 and it must have been his initial payment. A sterling account. The CU used Fexco and charged €15. I'm not sure who's doing the exchange now, probably PTSB. I'm sure the rate he is getting is not as good as he could get.

So, the question after all that is what is the best way for him to get paid. I have his CU IBAN. He has no ID, no passport, no driving licence etc. so can't really set up one of the online bank accounts. No smart phone either.

So we'll have to give the pensions in the UK some account to get paid into. I'd imagine the CU IBAN would work out quite expensive.

Gooser14

I get my UK pension paid in sterling to a bank account I hold in Northern Ireland. I then use either Currency Fair or Revolut to exchange & transfer the money to my bank account in the Republic of Ireland. I am not sure how this will work post Brexit.

Wheety

I'm thinking I may just supply my Revolut IBAN and then send it to his CU myself when it hits my account. I think it's only paid every quarter.

Gooser14

Wheety wrote:

I'm thinking I may just supply my Revolut IBAN and then send it to his CU myself when it hits my account. I think it's only paid every quarter.

That's an option I have considered but not yet followed up on. Keep us updated on how you get on.