Go Back  British Expats > Living & Moving Abroad > Europe
Reload this Page >

What happens to bank accounts when leaving the UK?

What happens to bank accounts when leaving the UK?

Old Jun 13th 2020, 10:40 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Oct 2014
Posts: 46
Ultramarine is an unknown quantity at this point
Default 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?

Last edited by Ultramarine; Jun 13th 2020 at 10:47 pm.
Ultramarine is offline  
Old Jun 14th 2020, 8:34 am
  #2  
dmu
Lost in BE Cyberspace
 
Joined: Apr 2008
Location: Hérault (34)
Posts: 7,922
dmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Ultramarine View Post
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?
I kept my English Bank Account which was transferred "off-shore" when I informed them of my permanent move. This was several decades ago and the procedure might be different nowadays.
P.S. Obviously a new bank account must be opened in the country where one moves to.
dmu is offline  
Old Jun 14th 2020, 1:25 pm
  #3  
BE Forum Addict
 
Loafing Along's Avatar
 
Joined: Jan 2016
Posts: 1,906
Loafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond repute
Default 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.
Loafing Along is offline  
Old Jun 14th 2020, 2:14 pm
  #4  
dmu
Lost in BE Cyberspace
 
Joined: Apr 2008
Location: Hérault (34)
Posts: 7,922
dmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Loafing Along View Post
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.
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)
dmu is offline  
Old Jun 14th 2020, 2:28 pm
  #5  
Forum Regular
Thread Starter
 
Joined: Oct 2014
Posts: 46
Ultramarine is an unknown quantity at this point
Default 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.
Ultramarine is offline  
Old Jun 14th 2020, 2:40 pm
  #6  
dmu
Lost in BE Cyberspace
 
Joined: Apr 2008
Location: Hérault (34)
Posts: 7,922
dmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond reputedmu has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Ultramarine View Post
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.
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....
dmu is offline  
Old Jun 14th 2020, 2:43 pm
  #7  
Forum Regular
Thread Starter
 
Joined: Oct 2014
Posts: 46
Ultramarine is an unknown quantity at this point
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by dmu View Post
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....
No, please consider this thread in isolation to any other of my or my friend's questions.
Ultramarine is offline  
Old Jun 14th 2020, 3:17 pm
  #8  
BE Forum Addict
 
philat98's Avatar
 
Joined: Nov 2011
Location: Umbria
Posts: 1,340
philat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond reputephilat98 has a reputation beyond repute
Default 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..
philat98 is offline  
Old Jun 14th 2020, 4:51 pm
  #9  
BE Forum Addict
 
Loafing Along's Avatar
 
Joined: Jan 2016
Posts: 1,906
Loafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by dmu View Post
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)
Yes, of course do that as well , even have a Spanish mortgage !! UK bank account useful for occassional visits there but becoming less so as cards like Transferwise, Revolut etc making cross-border currency movements redundant .
Loafing Along is offline  
Old Jun 18th 2020, 8:42 pm
  #10  
Forum Regular
 
Joined: Sep 2015
Location: North Yorkshire
Posts: 263
Cynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond repute
Default 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.
Cynic is offline  
Old Jun 18th 2020, 9:01 pm
  #11  
SUPER MODERATOR
 
Jerseygirl's Avatar
 
Joined: Dec 2005
Posts: 82,978
Jerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond reputeJerseygirl has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Cynic View Post
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.
most UK banks will not allow non residents to open an account. We still have free banking.
After
Jerseygirl is offline  
Old Jun 18th 2020, 9:09 pm
  #12  
Forum Regular
 
Joined: Sep 2015
Location: North Yorkshire
Posts: 263
Cynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond reputeCynic has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Jerseygirl View Post
most UK banks will not allow non residents to open an account. We still have free banking.
After
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.
Cynic is offline  
Old Jul 11th 2020, 11:12 am
  #13  
Born again atheist
 
Novocastrian's Avatar
 
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,252
Novocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Cynic View Post
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.
I have HSBC accounts in Canada,UK and France opened in that chronological order. There was no difference between EU counties and non-EU.
Novocastrian is offline  
Old Sep 4th 2020, 1:59 pm
  #14  
Just Joined
 
Joined: Sep 2020
Posts: 1
bev12bev is an unknown quantity at this point
Exclamation 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
bev12bev is offline  
Old Sep 4th 2020, 2:15 pm
  #15  
BE Forum Addict
 
Loafing Along's Avatar
 
Joined: Jan 2016
Posts: 1,906
Loafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond reputeLoafing Along has a reputation beyond repute
Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by bev12bev View Post
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
Have a look at the Transferwise account and debit card . They give you a normal bank account in Belgium with full IBAN etc which can accept various currencies. Almost instanteous deposit and easy to transfer out of or shop with its debit card
Loafing Along is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.