British expatriates who receive UK pensions and benefits may soon be contacted by the Department of Work & Pensions (DWP) to confirm their international banking details.
The British Embassy is warning expats that starting on January 31 2014 the DWP will need an International Bank Account Number (IBAN) and Bank Identification Code (BIC) in order to make payments to accounts in Portugal and other Eurozone countries.
The embassy says that the change is due to new European Union regulations that aim to make payments between EU countries faster and more secure.
The DWP already holds IBAN and BIC details for most customers but those for whom they do not have the details can expect to receive a letter.
The letter will include a form to be completed and returned to the DWP as soon as possible. IBAN and BIC details can be obtained from bank account statements or directly from banks.
Unanswered letters may mean that payments will be stopped, because after January 31t banks in Eurozone countries will not accept any DWP direct payments without these details.
Expatriates only need to provide additional bank details if they receive payments into a Eurozone account outside the United Kingdom, and have received a letter from the DWP. Those whose pension or benefit is paid into a UK account are unaffected by the changes.
Pensions and benefits recipients who have changed address and not yet informed the DWP are also being reminded to contact the International Pension Centre to make sure their details are up to date.
For anyone who needs it, this is the relevant phone number: 0044 191 218 7777
