UK banks closing accounts for no-residents
#31
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Joined: Feb 2020
Location: Nerja
Posts: 594
Re: UK banks closing accounts for no-residents
Oh understand.... But what sense does that make???
Why close accounts in one EU country and not them all??
Do the Nationwide have a presence in Spain but not Italy then??
I can understand Barclays because I doubt they are welcome anywhere these days..
Might waste an hour or so tomorrow trying to find out why one country but not another...
Why close accounts in one EU country and not them all??
Do the Nationwide have a presence in Spain but not Italy then??
I can understand Barclays because I doubt they are welcome anywhere these days..
Might waste an hour or so tomorrow trying to find out why one country but not another...
#32
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Joined: Jun 2017
Location: Alicante
Posts: 917
Re: UK banks closing accounts for no-residents
Exactly.
I have both Lloyds and NW AC/s and associated credit cards but I'll worry about it/them when I'm given something tangible to worry about.
Until then as far as I'm concerned it's just rumour and speculation.
I already have a Wise AC
NOTE: Passporting ended on Dec 31st 2020 so it's puzzling why they would have waited the best part of 2 years to implement the consequences.
This was published in Sept 2020 and nothing came of it then.
https://www.theolivepress.es/spain-n...n-in-the-dark/
I have both Lloyds and NW AC/s and associated credit cards but I'll worry about it/them when I'm given something tangible to worry about.
Until then as far as I'm concerned it's just rumour and speculation.
I already have a Wise AC
NOTE: Passporting ended on Dec 31st 2020 so it's puzzling why they would have waited the best part of 2 years to implement the consequences.
This was published in Sept 2020 and nothing came of it then.
https://www.theolivepress.es/spain-n...n-in-the-dark/
Last edited by Notdunroamin; Aug 15th 2022 at 6:41 pm.
#33
Josh in Spain
Thread Starter
Joined: Feb 2009
Location: Valencia
Posts: 96
Re: UK banks closing accounts for no-residents
Hardly a rumour when I have a letter from Lloyds which states "EU Exit • If you are no longer a UK resident, we may have to close your account or offer a different level of service and have updated our conditions to reflect this. • We've removed reference to the European Online Dispute Resolution Platform to reflect that the UK is no longer part of the EU."
#34
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Joined: Aug 2009
Location: Costa Blanca
Posts: 3,120
Re: UK banks closing accounts for no-residents
Just found this:-
https://www.lloydsbank.com/help-guid...questions.html
No date on their posting - I have always thought ALL web pages should be dated and clearly visible.
What if I move to the EU?
If you move outside the UK in the future, you must let us know. Most customers will be able to continue to hold their UK banking product. For customers living in certain EU countries, however, we will not be able to provide some UK banking products and services after 31st December 2020. We have contacted customers whose accounts or services are impacted by this.https://www.lloydsbank.com/help-guid...questions.html
No date on their posting - I have always thought ALL web pages should be dated and clearly visible.
#35
Josh in Spain
Thread Starter
Joined: Feb 2009
Location: Valencia
Posts: 96
Re: UK banks closing accounts for no-residents
Just found this:-
https://www.lloydsbank.com/help-guid...questions.html
No date on their posting - I have always thought ALL web pages should be dated and clearly visible.
What if I move to the EU?
If you move outside the UK in the future, you must let us know. Most customers will be able to continue to hold their UK banking product. For customers living in certain EU countries, however, we will not be able to provide some UK banking products and services after 31st December 2020. We have contacted customers whose accounts or services are impacted by this.https://www.lloydsbank.com/help-guid...questions.html
No date on their posting - I have always thought ALL web pages should be dated and clearly visible.
#36
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,120
Re: UK banks closing accounts for no-residents
Well, I think it is relevant because their statement is still online and I can't see anything that supersedes it.
So has any other Lloyds bank client resident in Spain had any form of recent notification about account closure?
So has any other Lloyds bank client resident in Spain had any form of recent notification about account closure?
Last edited by spainrico; Aug 18th 2022 at 1:26 pm.
#37
Josh in Spain
Thread Starter
Joined: Feb 2009
Location: Valencia
Posts: 96
Re: UK banks closing accounts for no-residents
I have tried to upload a copy of the message but cannot seem to be able to do it!
Last edited by Joddle; Aug 18th 2022 at 2:45 pm. Reason: Letter
#38
Re: UK banks closing accounts for no-residents
Had my letter yesterday
#39
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Joined: Jan 2017
Location: Dubai
Posts: 846
Re: UK banks closing accounts for no-residents
Anyone that needs or is forced to change and requires a 'High Street' bank HSBC has worked very well for us for many years and no issues with being an expat, although now most of our spending flows into and through Revolut or Wise.
#40
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Joined: Aug 2009
Location: Costa Blanca
Posts: 3,120
Re: UK banks closing accounts for no-residents
#41
BE Forum Addict
Joined: Jun 2011
Posts: 1,129
Re: UK banks closing accounts for no-residents
They seem to be taking an extraordinarily long time to find everyone who has an address in the EU. If they can't offer some financial products in some countries due to not having a licence for them, then they've been trading illegally for a year and a half?
#42
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Joined: Aug 2009
Location: Costa Blanca
Posts: 3,120
Re: UK banks closing accounts for no-residents
Had this from Standard Life today -
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
#43
Re: UK banks closing accounts for no-residents
Had this from Standard Life today -
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
#44
BE Enthusiast
Joined: Jan 2017
Location: Dubai
Posts: 846
Re: UK banks closing accounts for no-residents
Had this from Standard Life today -
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
#45
BE Forum Addict
Joined: Jul 2012
Posts: 1,001
Re: UK banks closing accounts for no-residents
Had this from Standard Life today -
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
'WISE is a money transfer service to help individuals move and use their money around the world, and although FCA regulated, it is not a bank and is not FSCS protected therefore we are not able to pay your annuity instalments into your WISE account.'
Very disappointed with them and have shared their email with Wise.
Why can I not have my money transferred where I like and take the 'risk' - the Wise account has an ISBN so assume it is accessible to Standard Life.
I also asked if I could have my pension paid to another Uk account (my sons, if at some point I couldn't hold a Uk account) and was told no due to tax reporting.
But when I die it will be ok for them to transfer the % of the remaining funds to my son and my daughters accounts (my daughter also doesn't have a UK account as she lives in Australia) but that didn't present a problem... Go figure.