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UK expat bank accounts closing

UK expat bank accounts closing

Old Sep 23rd 2023, 8:17 am
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Default UK expat bank accounts closing

Barclays joining others in closing expat accounts - https://www.msn.com/en-gb/money/othe...7c906aa88&ei=7
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Old Sep 23rd 2023, 8:28 am
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Unhappy Re: UK expat bank accounts closing

Well , I suppose you can't expect to have your cake and eat it too !
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Old Sep 23rd 2023, 8:43 am
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Default Re: UK expat bank accounts closing

Very old news. Discussed since August 2022 in the Spain forum.

UK banks closing accounts for no-residents

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Old Sep 23rd 2023, 9:34 am
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Default Re: UK expat bank accounts closing

Originally Posted by Rosemary
Very old news. Discussed since August 2022 in the Spain forum.

UK banks closing accounts for no-residents

Rosemary
Do folks here also read the Spanish forum? I don't.
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Old Sep 23rd 2023, 9:37 am
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Default Re: UK expat bank accounts closing

Originally Posted by GrahamF
Do folks here also read the Spanish forum? I don't.
Some do. My point really was the fact that this is not new.

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Old Sep 23rd 2023, 10:21 am
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Default Re: UK expat bank accounts closing

It has also been discussed on the Portugal site during the past 2 years.
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Old Sep 23rd 2023, 10:32 am
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Default Re: UK expat bank accounts closing

Originally Posted by den morris
Well , I suppose you can't expect to have your cake and eat it too !
If it were a case of that, that might be a fair comment - although I fail to see how maintaining a bank account in another country is having one's cake and eating it. There are many non-residents of Portugal and elsewhere who find they need an account here.

But for whatever reason, many people originating from the UK do find it useful and for many others it's a necessity to have an account there. And if they're unfortunate enough to bank with an entity which suddenly decides to close their only UK account, they're in a very difficult situation as it's nigh-on impossible to open a new account as a non-resident.
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Old Sep 23rd 2023, 11:46 am
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Default Re: UK expat bank accounts closing

Originally Posted by GrahamF
Do folks here also read the Spanish forum? I don't.
I don't - any more than I read any of the other country-specific forums for places that I don't live.
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Old Sep 23rd 2023, 11:51 am
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Default Re: UK expat bank accounts closing

Originally Posted by Red Eric
If it were a case of that, that might be a fair comment - although I fail to see how maintaining a bank account in another country is having one's cake and eating it. There are many non-residents of Portugal and elsewhere who find they need an account here.

But for whatever reason, many people originating from the UK do find it useful and for many others it's a necessity to have an account there. And if they're unfortunate enough to bank with an entity which suddenly decides to close their only UK account, they're in a very difficult situation as it's nigh-on impossible to open a new account as a non-resident.
Agreed. It's one of the many reasons I never felt inclined to become a "resident" (being Irish and therefore still an EU citizen and being married to a Portuguese make that more possible). As I'm not a UK citizen, I have too many things tied up in the UK to lose my residency - and I never intended to move full-time to Portugal either, so the residency rulings have always been a bane......
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Old Sep 23rd 2023, 11:52 am
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Default Re: UK expat bank accounts closing

Originally Posted by Red Eric

But for whatever reason, many people originating from the UK do find it useful and for many others it's a necessity to have an account there. And if they're unfortunate enough to bank with an entity which suddenly decides to close their only UK account, they're in a very difficult situation as it's nigh-on impossible to open a new account as a non-resident.
Yep. Halifax suspended our account a couple of years after we returned to Australia, which was more than a bit inconvenient because most of our income is derived in the UK.

I had visions of having to fly to the UK to sort it out but after a few phone conversations, and an exchange of snail-mail documents, we were permitted to keep the account.
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Old Sep 25th 2023, 11:15 pm
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Default Re: UK expat bank accounts closing

Originally Posted by Red Eric
If it were a case of that, that might be a fair comment - although I fail to see how maintaining a bank account in another country is having one's cake and eating it. There are many non-residents of Portugal and elsewhere who find they need an account here.

But for whatever reason, many people originating from the UK do find it useful and for many others it's a necessity to have an account there. And if they're unfortunate enough to bank with an entity which suddenly decides to close their only UK account, they're in a very difficult situation as it's nigh-on impossible to open a new account as a non-resident.
Agree Eric. Although we have sold up in Portugal and finalised everything there we still have money in a Portuguese Bank which is very handy when we are holidaying in the Euro Zone.

Millennium take their 5.75 Euros each month to maintain the account but for us it is a small price to pay for the convenience of having a bank card that works Pan Euro Zone without conversion charges.


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Old Sep 26th 2023, 5:02 pm
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Default Re: UK expat bank accounts closing

if you need a UK bank try Nationwide as an expat. I think they will allow non UK residents to have a current account
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Old Sep 26th 2023, 6:09 pm
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Default Re: UK expat bank accounts closing

Originally Posted by wellinever
if you need a UK bank try Nationwide as an expat. I think they will allow non UK residents to have a current account
I've just checked their current account conditions and they all say that to open one, you need to be UK resident. You can keep any accounts you have with them if you already have one as a UK resident and subsequently move abroad.

They do have a presence as an international entity, headquartered, I think, on the Isle of Man. That probably allows non-UK residents to open new accounts but it won't be regulated in the same way that UK banks are.
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Old Sep 26th 2023, 6:13 pm
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Default Re: UK expat bank accounts closing

Originally Posted by wellinever
if you need a UK bank try Nationwide as an expat. I think they will allow non UK residents to have a current account
The only possibility is HSBC.
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Old Sep 27th 2023, 8:27 am
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Default Re: UK expat bank accounts closing

Yes, Nationwide allows you to keep a current account. The only account i had to close was an ISA. I have a savings account from years ago, but they don't allow you to open any new ones.
That is what i was told when i visited my N/W branch.
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