What happens to bank accounts when leaving the UK?
#1
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What happens to bank accounts when leaving the UK?
And another question from my friend who keeps struggling with registration for on this forum.
What happens to bank accounts when you tell your bank about your new address which happens to be abroad? Are you allowed to keep a UK bank account?
What happens to bank accounts when you tell your bank about your new address which happens to be abroad? Are you allowed to keep a UK bank account?
Last edited by Ultramarine; Jun 13th 2020 at 10:47 pm.
#2
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Re: What happens to bank accounts when leaving the UK?
P.S. Obviously a new bank account must be opened in the country where one moves to.
#3
Re: What happens to bank accounts when leaving the UK?
Just tell them you live abroad - no problem. All UK accounts registered to EU address, CCs arrive in the post all normal when they expire all transactions done online except for occassional call.
#4
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Re: What happens to bank accounts when leaving the UK?
(I only use my English Bank Card for when I visit family and I don't do any transfers to my French Account)
#5
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Re: What happens to bank accounts when leaving the UK?
Of course. But what if someone relocates for several years to... let's say Elbonia for not to offend anyone, where banking system is not terribly reliable.
Last edited by Ultramarine; Jun 14th 2020 at 2:39 pm.
#6
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Re: What happens to bank accounts when leaving the UK?
Of course. But what if someone relocates for several years to... let's say Elbonia, for not to offend anyone, where banking system is not terribly reliable.
If you're still asking on behalf of your friend, then, due to his circumstances, I wouldn't recommend relocating to such a country....
#7
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Re: What happens to bank accounts when leaving the UK?
OK, but seeing that you're asking about EU countries in your other threads, I presumed, rightly or wrongly, that this thread also concerned the EU.
If you're still asking on behalf of your friend, then, due to his circumstances, I wouldn't recommend relocating to such a country....
If you're still asking on behalf of your friend, then, due to his circumstances, I wouldn't recommend relocating to such a country....
#8
Re: What happens to bank accounts when leaving the UK?
Its always useful to keep at least one UK bank account open. I have used the Nationwide BS for the last 10 years..
#9
Re: What happens to bank accounts when leaving the UK?
True, but the OP should know that it's advisable, if not compulsory, to open a bank account in the European country of residence,. The Tax Office for example, would wonder why a Tax-Resident is regularly paying from a foreign bank, or a landlord would hesitate to accept payment of rent from a foreign bank, not to mention the fluctuating exchange rate and Commissions on all payments between £Sterling and Euros (and even transactions between two Euro countries). And Social Security rembursements and benefits would only be transferred to a local Bank Account (at least in France).
(I only use my English Bank Card for when I visit family and I don't do any transfers to my French Account)
(I only use my English Bank Card for when I visit family and I don't do any transfers to my French Account)
#10
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Re: What happens to bank accounts when leaving the UK?
I've been asking this question recently as we're planning on moving back to Holland from the UK in the not too far distant future; it seems that the only reason that UK citizens were able to open a bank account from abroad up until now was that EU rules said they had to. Once the UK leaves the EU, those rules will no longer apply and it will be up to the bank whether they offer the service, the ones I asked said they haven't published the new rules yet, but I got a hint from a couple that free banking for non-UK residents would be gone.
#11
Re: What happens to bank accounts when leaving the UK?
I've been asking this question recently as we're planning on moving back to Holland from the UK in the not too far distant future; it seems that the only reason that UK citizens were able to open a bank account from abroad up until now was that EU rules said they had to. Once the UK leaves the EU, those rules will no longer apply and it will be up to the bank whether they offer the service, the ones I asked said they haven't published the new rules yet, but I got a hint from a couple that free banking for non-UK residents would be gone.
After
#13
Re: What happens to bank accounts when leaving the UK?
This link was part of my investigation; my daughter was allowed to keep her account at HSBC because of this, but that was before Brexit.
#14
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Re: What happens to bank accounts when leaving the UK?
I have a problem, living in Netherlands, have a Lloyds bank acct in UK, just received letter stating they are closing all accounts for people who live outside UK. Anyone know of a bank account i can get where my flat in UK, rental payments can be paid into, looked into off shore accounts but i don't have loads of money
Are there any online only ones for us expats to have, that accept money from UK and i can transfer over to my Dutch bank? Or any sites i can look at? or ask?
Thanks
Are there any online only ones for us expats to have, that accept money from UK and i can transfer over to my Dutch bank? Or any sites i can look at? or ask?
Thanks
#15
Re: What happens to bank accounts when leaving the UK?
I have a problem, living in Netherlands, have a Lloyds bank acct in UK, just received letter stating they are closing all accounts for people who live outside UK. Anyone know of a bank account i can get where my flat in UK, rental payments can be paid into, looked into off shore accounts but i don't have loads of money
Are there any online only ones for us expats to have, that accept money from UK and i can transfer over to my Dutch bank? Or any sites i can look at? or ask?
Thanks
Are there any online only ones for us expats to have, that accept money from UK and i can transfer over to my Dutch bank? Or any sites i can look at? or ask?
Thanks