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UK Bank Accounts after Brexit

UK Bank Accounts after Brexit

Old Sep 21st 2020, 5:21 pm
  #31  
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Default Re: UK Bank Accounts after Brexit

More than a year ago an account in Gibraltar was abruptly closed as they said they were no longer dealing in euros.I had a much larger Sterling account because I had been given a cheque in that currency many years previously,later added to it with a Euro account.So I think this maybe the way things will pan out after Brexit with British Banks following this path.At a Consulate meeting about 2 years ago in my town a Dutch lady,married to an Englishman,complained that her Spanish card had been rejected when paying for something.The Consulate lady asked her to stay behind to discuss this!I could have added that I went to renew my subscription to Guide Dogs,a charity I have been a sponsor for for some 15 years,& my card was initially rejected until it was seen that I was making a one off payment & not a monthly payment.This looks like it is going to be you have to be dishonest & use someone's UK address or be an outsider.
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Old Sep 21st 2020, 9:44 pm
  #32  
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Default Re: UK Bank Accounts after Brexit

Originally Posted by bobd22 View Post
I think this is simply another unknown. Some banks have always been funny about UK non residents keeping UK accounts when living in EU. I have had a Barclays account for 45+ years when I asked at local UK branch re changing my address to Spain it was a bit like "computer says no". They suggested using relatives addresses etc in the UK? Not really best answer, I did point out that as at the time UK was still in the EU there is in eu legislation the right to hold bank accounts when not resident in other eu countries, went straight over their head. I did manage to change my account address earlier this year by the telephone banking method. Helpful girl who said they may query it but may not. Nothing negative so far. I suppose we will have to wait and see firstly what sort of deal or not is finally done and deal with whatever the bank asks us to do. There will have to be some way of dealing with banking in the UK by non UK residents living outwith the UK, pensions properties rented out etc.
Thats odd you say that, after my cards developed a bad chip, Barclays changed my address fine for my main current account to Spanish address just fine, mad shipped it out to me in the mail, which I got in 10 business days - but warned that my Barclays credit card cannot remain a foreign address, and needs to be changed back to a U.K address within a month(?) or the account will be shut down.
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Old Sep 23rd 2020, 7:02 pm
  #33  
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Default Re: UK Bank Accounts after Brexit

I just got a messaje saying this page has been updated:

https://www.gov.uk/guidance/living-i...tent=immediate

Specifically this section:

Banking and financial services

Most people living in Europe should not see any change to their banking when the transition period ends (31 December 2020). Whether UK banks can service customers living in an EEA country is a matter of local law and regulation. Also banks are set up differently, and may have taken different actions to continue to serve their customers.

Your bank or finance provider should contact you if they need to make any changes to your product or the way they provide it. If you have any concerns about whether you might be affected, contact your provider or seek independent financial advice.
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Old Sep 23rd 2020, 10:48 pm
  #34  
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Default Re: UK Bank Accounts after Brexit

The biggest problem is that if your account gets closed, there is no way of opening up another account.
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Old Sep 24th 2020, 5:27 am
  #35  
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Default Re: UK Bank Accounts after Brexit

I lifted this (cheesy letter) from another forum, seems pretty clear that it's only the Barclaycard credit card which is affected.

Restricted access to other banking services is nothing new.



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Old Sep 24th 2020, 7:10 am
  #36  
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Default Re: UK Bank Accounts after Brexit

Originally Posted by dougal03 View Post
More than a year ago an account in Gibraltar was abruptly closed as they said they were no longer dealing in euros.I had a much larger Sterling account because I had been given a cheque in that currency many years previously,later added to it with a Euro account.So I think this maybe the way things will pan out after Brexit with British Banks following this path.At a Consulate meeting about 2 years ago in my town a Dutch lady,married to an Englishman,complained that her Spanish card had been rejected when paying for something.The Consulate lady asked her to stay behind to discuss this!I could have added that I went to renew my subscription to Guide Dogs,a charity I have been a sponsor for for some 15 years,& my card was initially rejected until it was seen that I was making a one off payment & not a monthly payment.This looks like it is going to be you have to be dishonest & use someone's UK address or be an outsider.
After my earlier post with reference to the GibBank account I went into the bank to check on todays position and was informed that you can now only open an account if you are a resident or work in Gib
So no longer an option for most.
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Old Sep 24th 2020, 8:07 am
  #37  
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Default Re: UK Bank Accounts after Brexit

Latest from Brits in Spain - UK Embassy Madrid:-You may have seen recent media coverage about some UK banks’ decision to close accounts belonging to EU/EEA residents, and we wanted to share the latest information.

Whether UK banks can service EEA-based customers after the end of the UK Transition Period is a matter of local law and regulation in each country, and may be impacted by how firms are set up and what steps they have taken to continue to serve customers. We expect UK banks to comply with the law at all times.

If you are affected, your provider will contact you directly.

As we are unable to provide any financial advice, you should contact your bank or an independent financial adviser if you have any questions. More information is available from the UK Financial Conduct Authority here: https://www.fca.org.uk/consumers/how-brexit-could-affect-you
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Old Sep 24th 2020, 10:19 am
  #38  
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Default Re: UK Bank Accounts after Brexit

I got further confirmation yesterday that existing First Direct accounts will not be affected.
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Old Oct 10th 2020, 12:52 pm
  #39  
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Default Re: UK Bank Accounts after Brexit

Anybody had any news/updates from Lloyds Bank UK ?
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Old Oct 10th 2020, 5:18 pm
  #40  
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Default Re: UK Bank Accounts after Brexit

Originally Posted by Mustard View Post
I suppose that's because HSBC is a truly international bank with a licence to operate in Spain whereas Lloyds and Barclays are more just UK retail banks.

It would be interesting to know if HSBC UK would then accept applications from Spanish residents who've been dropped by LLoyds and Barclays. I'd always understood that it was impossible for a non-UK resident to open a UK bank account.


As far as I´m aware HSBC do not operate in Spain. When I moved over here I looked on their website which stated that they could help you set up a bank account overseas. When I asked them to, they replied that they couldn´t...
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Old Oct 10th 2020, 5:50 pm
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Default Re: UK Bank Accounts after Brexit

Originally Posted by spainrico View Post
Anybody had any news/updates from Lloyds Bank UK ?
I have both a Lloyd's current A/C and credit card, nothing heard from them to date.
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Old Oct 10th 2020, 6:17 pm
  #42  
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Default Re: UK Bank Accounts after Brexit

Originally Posted by inbarcelona View Post
As far as I´m aware HSBC do not operate in Spain. When I moved over here I looked on their website which stated that they could help you set up a bank account overseas. When I asked them to, they replied that they couldn´t...
They don't operate as a retail bank but are quite big in corporate banking and asset management. Or so I was told by someone who worked in their Madrid office.
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Old Oct 14th 2020, 7:00 pm
  #43  
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Default Re: UK Bank Accounts after Brexit

Didn't expect a problem with TransferWise - but good to know and nice of them to email -

How does Brexit affect TransferWise?

You can keep using TransferWise without any interruption, when the Brexit transition period ends — even if the UK and the EU haven’t agreed on a trade deal. There won’t be any impact to how you send, spend, or receive money with us. And, any money already in your balances will continue to be just as safe and easy to use.

The only change is behind the scenes. Starting 14 December 2020, we’ll serve customers in the European Economic Area (EEA) from our new office in Brussels. We’ll be licensed and regulated by the National Bank of Belgium.

https://transferwise.com/help/articl...r-transferwise

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Old Oct 14th 2020, 7:07 pm
  #44  
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Default Re: UK Bank Accounts after Brexit

Originally Posted by spainrico View Post
Didn't expect a problem with TransferWise - but good to know and nice of them to email -

How does Brexit affect TransferWise?

You can keep using TransferWise without any interruption, when the Brexit transition period ends — even if the UK and the EU haven’t agreed on a trade deal. There won’t be any impact to how you send, spend, or receive money with us. And, any money already in your balances will continue to be just as safe and easy to use.

The only change is behind the scenes. Starting 14 December 2020, we’ll serve customers in the European Economic Area (EEA) from our new office in Brussels. We’ll be licensed and regulated by the National Bank of Belgium.

https://transferwise.com/help/articl...r-transferwise
Just got the same email , Revolut done a similar move to Ireland and Lithuania
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Old Oct 15th 2020, 3:10 pm
  #45  
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Default Re: UK Bank Accounts after Brexit

We are visiting the UK and called in at our local Barclays to change the wife's address to Spanish one, mine is already Spanish address on joint account. The girl was very helpful and said it's no problem to use Spanish address and debit cards could be sent there. That was until the computer said NO she went to supervisor and after some time came back and said not allowed to have non uk address now on uk account. She said do you have an address you can use in UK yes we said being ready for this she can use our daughters. However the computer said no again because I was registered at Spanish address. So I had to also change mine to our daughters address. The supervisor said it started with credit cards but had in last few days also included all bank accounts other than International ones and that letters were being sent out warning accounts may be closed. I only know what I was told and fact that the banks computer wouldn't let us get any further without both addresses being uk.
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