Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

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Oct 31st 2023, 4:20 pm

#46

mrken30

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Location: Portlandia Metro

Posts: 7,425

Re: Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

Just got the message today that Citibank is no longer serving retail customers in the UK. I now only have one bank left, HSBC, that I am using. I need the option to pay direct debits and am not sure what my options are if HSBC closes accounts. I am contemplating setting up a business account for my rental income in the UK, but that seems complex. I am not in Australia, but I'm sure many people abroad are having the same issue

Dec 2nd 2023, 2:43 am

#47

Hi there

Just Joined

Joined: Dec 2023

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Hi there is an unknown quantity at this point

Quote:

Originally Posted by chozzabev

Just giving an update on my UK HSBC bank application from Australia.

I had my ID check today with the bank on Zoom (they wanted to chat to me and see my hold my passport up to the camera etc). It seems that the application process is nearing the end and I will be mailed out my new UK HSBC bank card and welcome pack soon. No huge deposit required. Pretty pleased with the process so far. It looks like I will be able to transfer out my existing funds from my Barclays account before it is closed (like all other Barclays account holders overseas).

I would recommend this HSBC application process to anyone else that needs a UK bank account to pay state pension contributions, or receive money from relatives, pay bills, receive pensions etc.

Well done HSBC.

Quote:

Originally Posted by chozzabev

Hi all - I got a letter from Barclays the other day. Shock Horror - They are closing my UK bank account in November as they won't allow accounts for Australian residents anymore.

This is a BIG issue for me because I have direct debits to top up my UK State Pension coming out of this account (7 more years to go since they moved the goalposts!), and when I eventually retire, HMRC states on the website FAQ's that they will ONLY pay the State pension into a UK bank account.

I am assuming it is an issue to open a UK account with an Australian address?? and my elderly mum isn't happy about me putting her address on file (a stickler for the rules, worried about fraud etc).

I go back to the UK for a holiday in July so wondered if anyone could recommend a strategy to get a new UK bank account opened (other than Barclays). Are there some that allow overseas residents to open them up?

Hopefully this Barclays rule isn't becoming UK-wide for banks for (e.g.) money laundering purposes?, .......otherwise we will all be stuffed!!

Please help!

Thanks

Chozza

The problem I have is I never received any letters or information about the closure of UK bank accounts until Thursday… a message from Barclays popped up on my phone.
so now I’ve discovered my account is technically closed, can’t log online, bank card cancelled yet they have accepted two pension deposits into my account…
there’s nothing I can do now… angry customer

Last edited by old.sparkles; Dec 2nd 2023 at 3:21 am.

Dec 2nd 2023, 3:05 am

#48

mrken30

Lost in BE Cyberspace

Joined: Jul 2008

Location: Portlandia Metro

Posts: 7,425

Re: Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

I am concerned that there are very few choices for people that leave the UK now. When I left, most banks kept you on as a customer but you just needed to inform them of your overseas address. It's almost as if there's a conspiracy to make it more difficult for people to leave the UK now.

Dec 2nd 2023, 3:15 am

#49

Jakeinaka

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Joined: Aug 2023

Location: Japan

Posts: 46

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Re: Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

Concerning for those with UK financial interests, pensions etc. My pension provider insists on a UK bank account. They didn't see this coming....... ominous

. For once the UK government has done something right, they will pay to a bank anywhere in the world*

*(Not sure about Brits in North Korea)

Dec 2nd 2023, 11:38 am

#50

tdrinker

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Joined: Dec 2008

Posts: 525

Re: Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

Quote:

Originally Posted by mrken30

I am concerned that there are very few choices for people that leave the UK now. When I left, most banks kept you on as a customer but you just needed to inform them of your overseas address.

Most banks still allow existing bank accounts to be retained, by non-residents but don't allow new ones t be opened:
https://www.which.co.uk/news/article...t-aIiEs1i49WTf
There must be a chance that other banks will follow Barclays lead and close existing accounts, however, so anyone currently in the UK should consider opening one or more back-up bank accounts before moving overseas lest their bank does close their account in future.

Dec 18th 2023, 10:47 am

#51

tdrinker

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Joined: Dec 2008

Posts: 525

Re: Barclays CLOSING ACCOUNTS for Australian residents! Need another UK account!

Is a Basic Bank Account with HSBC UK the answer? I saw this recommended on another thread, and the HSBC UK website indicates it can be opened by non-UK residents. Worth a try.

uk savings accounts