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Barclays closing expat bank accounts

Barclays closing expat bank accounts

Old Nov 4th 2023, 5:56 pm
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Default Barclays closing expat bank accounts

Hi,

I was wondering if any of you who live in the USA and still have UK bank accounts with Barclays have been contacted by the bank regarding account closures. I use my account frequently to transfer money, plus I have monthly income from property rental in the UK. No one from Barclays has contacted me about this yet, but I am very worried in case my account is suddenly closed. My husband also has a current and savings account with Barclays from when he lived in the UK as a student. We both receive monthly statements and have heard nothing from Barclays directly.

Has anyone else heard from Barclays about this?

Thanks,

Andrea
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Old Nov 4th 2023, 6:06 pm
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Default Re: Barclays closing expat bank accounts

Several other posts regarding UK banks closing accounts. Not sure whether Barclays is among the list .
Most people opened Wise accounts to receive monies in the UK and to carry out transfers to the US.
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Old Nov 4th 2023, 6:45 pm
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Default Re: Barclays closing expat bank accounts

Thank you.
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Old Nov 5th 2023, 7:24 am
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Default Re: Barclays closing expat bank accounts

Originally Posted by SanDiegogirl
Several other posts regarding UK banks closing accounts. Not sure whether Barclays is among the list .
Most people opened Wise accounts to receive monies in the UK and to carry out transfers to the US.
I think this is a good move to make. Get a Wise GBP account which can be opened from the USA and it will give you a UK sort code and account number to use.
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Old Nov 5th 2023, 4:06 pm
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Default Re: Barclays closing expat bank accounts

I've had my Barclays account while being abroad for 22 years now. I use it infrequently and always manage to use it a bit when visiting the UK. I probably transfer money to it 3-5 times a year. Barclays actually contacted me about 5 years ago and had me fill in a form with my SSN etc.
I think Barclays is one of the banks geared up for dealing with US IRS things, so maybe all they care about is account dormancy.
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Old Nov 7th 2023, 5:34 pm
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Default Re: Barclays closing expat bank accounts

Thanks, Neill. Barclays also has my SSN - I had to complete forms for them a number of years ago.

So they haven't contacted you about closing your account?
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Old Nov 9th 2023, 3:05 am
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Default Re: Barclays closing expat bank accounts

I have accounts with Barclays that have been kept active with my class 2 National Insurance payments for years.

Why are you so concerned about this? I haven't seen anything suggesting Barclays might close accounts of people in the US.
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Old Nov 9th 2023, 5:17 am
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Default Re: Barclays closing expat bank accounts

Originally Posted by Owen778
I have accounts with Barclays that have been kept active with my class 2 National Insurance payments for years.

Why are you so concerned about this? I haven't seen anything suggesting Barclays might close accounts of people in the US.
It's coming to most expats. Some people might get away with it but a lot will see their accounts close. My wife just got a message saying so, although not US. Article on account closures
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Old Nov 9th 2023, 7:14 am
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Default Re: Barclays closing expat bank accounts

Originally Posted by Trailing_Hubby
It's coming to most expats. Some people might get away with it but a lot will see their accounts close. My wife just got a message saying so, although not US. Article on account closures
Good summary of the situation in that article. Thanks.
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Old Nov 9th 2023, 9:03 am
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Default Re: Barclays closing expat bank accounts

My account was closed this week, but I have an international account which will continue, expensive though.
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Old Nov 10th 2023, 4:34 pm
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Default Re: Barclays closing expat bank accounts

My UK bank is First Direct, but I haven't yet told them I've moved to the US. My UK mailing address is still valid, and any post from the bank (very rare) is forwarded to family address. If the bank asked me if I've moved abroad then I wouldn't lie, but I haven't got round to proactively telling them yet.
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Old Nov 10th 2023, 6:45 pm
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Default Re: Barclays closing expat bank accounts

Originally Posted by Owen778
I have accounts with Barclays that have been kept active with my class 2 National Insurance payments for years.

Why are you so concerned about this? I haven't seen anything suggesting Barclays might close accounts of people in the US.
https://www.barclays.co.uk/important...utside-the-uk/

From the horses mouth
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Old Nov 10th 2023, 8:10 pm
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Default Re: Barclays closing expat bank accounts

Originally Posted by Jakeinaka
that seems to be pretty definitive

Can I have an address outside the UK and keep my accounts open?

You'll only be able to have an address outside the UK and keep your accounts open if:
  • You’re a UK Crown employee, or you’re the spouse or civil partner of a UK Crown employee
  • The address outside the UK on your account is for someone who manages your account for you (for example, someone who has power of attorney), or for someone who’s set up to receive information on your behalf (for example, an accountant or lawyer)
  • You’re outside the UK on a temporary basis for six months or less and will be moving back to the UK.
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Old Nov 16th 2023, 6:39 pm
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Default Re: Barclays closing expat bank accounts

Originally Posted by amheatley
Thanks, Neill. Barclays also has my SSN - I had to complete forms for them a number of years ago.

So they haven't contacted you about closing your account?
No. I actually went in and closed some old savings accounts in person last year, and they said nothing to me. In my head, I was doing them a favour as I am trying to keep just the one account active instead of having multiple accounts with small money making tiny interest, that's not even worth reporting to the IRS.
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Old Nov 16th 2023, 8:59 pm
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Default Re: Barclays closing expat bank accounts

Originally Posted by LT1
My UK bank is First Direct, but I haven't yet told them I've moved to the US. My UK mailing address is still valid, and any post from the bank (very rare) is forwarded to family address. If the bank asked me if I've moved abroad then I wouldn't lie, but I haven't got round to proactively telling them yet.
I have a First Direct account, and they’ve been absolutely fine about me living overseas in first Switzerland (2008-2011), and now the US. They’ve had my address all along. Years back I remember they sent me some forms to complete to comply with FATCA, since I was now a US tax person, but otherwise they just occasionally mail me a statement, and new cards when they expire.
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