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UK banks closing accounts of ex-pats if they don't have a uk address

Posted: Thu Sep 24, 2020 3:30pm
12 replies777 views6 members subscribed
StuC

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Hi, just clocked this article on UK banks closing accounts of ex-pat. Thought it would be useful to post.

https://www.bbc.co.uk/news/business-54240777

StuC

Roland

Posted: Thu Sep 24, 2020 3:58pm

Roland

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Posted: Thu Sep 24, 2020 3:58pm

It's been going on for a few months now.

Sunnyspain

Posted: Fri Sep 25, 2020 8:50am

Sunnyspain

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Posted: Fri Sep 25, 2020 8:50am

Someone I know said she rang Lloyd's and they said it did not affect debit accounts only credit cards.

Karenp

Posted: Fri Sep 25, 2020 9:15am

Karenp

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Posted: Fri Sep 25, 2020 9:15am

Sunnyspain wrote on Fri Sep 25, 2020 8:50am:

Someone I know said she rang Lloyd's and they said it did not affect debit accounts only credit cards.

Thank goodness for that - for a moment I was a bit worried there!

Sunnyspain

Posted: Fri Sep 25, 2020 9:23am

Sunnyspain

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Posted: Fri Sep 25, 2020 9:23am

Karenp wrote on Fri Sep 25, 2020 9:15am:

Thank goodness for that - for a moment I was a bit worried there!

Hopefully they gave her the correct information. 

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Karenp

Posted: Fri Sep 25, 2020 9:27am

Karenp

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Posted: Fri Sep 25, 2020 9:27am

Sunnyspain wrote on Fri Sep 25, 2020 9:23am:

Hopefully they gave her the correct information. 

I only have debit and savings account with my two UK banks - I might just ring them next week. I haven't received any notification of this and something so important I would have thought they would have.

Roland

Posted: Fri Sep 25, 2020 9:56am

Roland

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Posted: Fri Sep 25, 2020 9:56am

Sunnyspain wrote on Fri Sep 25, 2020 8:50am:

Someone I know said she rang Lloyd's and they said it did not affect debit accounts only credit cards.

Completely wrong information.

It affects current accounts.

Type the words 'expat bank account closures uk' into Google & all the information is there.

Sunnyspain

Posted: Fri Sep 25, 2020 10:12am

Sunnyspain

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Posted: Fri Sep 25, 2020 10:12am

Roland wrote on Fri Sep 25, 2020 9:56am:

Completely wrong information.

It affects current accounts.

Type the words 'expat bank account closures uk' into Google & all the information is there.

I'm aware of whats been in the media im stating a friend called Lloyds direct and they told her it does not affect her account. Its not false info its what her bank have told her. 

Sunnyspain

Posted: Fri Sep 25, 2020 10:33am

Sunnyspain

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Posted: Fri Sep 25, 2020 10:33am

I have just called Natwest and they told me they have no plans to close any accounts for customers living in the EU after brexit unless they legally have to. 

StuC

Posted: Fri Sep 25, 2020 12:46pm

StuC

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Posted: Fri Sep 25, 2020 12:46pm

Sunnyspain, 'legally have to' is exactly what the article is saying if the banks feel it's too costly to operate within the EU after 31st 2020 they'll shut you down.  

StuC

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