UK Bank Accounts after Brexit
#31
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Joined: Apr 2017
Location: costa blanca
Posts: 476












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.
#32
Forum Regular

Joined: Dec 2017
Posts: 40












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.
#33
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Joined: May 2013
Posts: 599












I just got a messaje saying this page has been updated:
https://www.gov.uk/guidance/living-i...tent=immediate
Specifically this section:
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.
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.
#35
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Joined: Jun 2017
Location: Crevillente or thereabouts
Posts: 391












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.

Restricted access to other banking services is nothing new.

#36

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.
So no longer an option for most.
#37
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Joined: Aug 2009
Location: Costa Blanca
Posts: 2,023












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
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
#40
Forum Regular



Joined: Jan 2015
Posts: 167












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.
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...
#41
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Joined: Jun 2017
Location: Crevillente or thereabouts
Posts: 391











#42

#43
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Joined: Aug 2009
Location: Costa Blanca
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Didn't expect a problem with TransferWise - but good to know and nice of them to email -
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
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
#44

Didn't expect a problem with TransferWise - but good to know and nice of them to email -
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
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
#45
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Joined: Feb 2008
Posts: 4,451












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.