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Expat Brits in EU to have UK bank accs closed

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Category: Tourism / Turismo
Forum Name: Users Chit Chat / Conversa entre Utilizadores
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URL: https://albufeira.com/forum/forum_posts.asp?TID=11804
Printed Date: 22/September/2026 at 02:31
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Topic: Expat Brits in EU to have UK bank accs closed

Posted By: Jock
Subject: Expat Brits in EU to have UK bank accs closed
Date Posted: 21/September/2020 at 16:56

http://www.newscabal.co.uk/thousands-of-britons-living-in-eu-told-their-uk-bank-accounts-will-be-closed/" rel="nofollow - https://www.newscabal.co.uk/thousands-of-britons-living-in-eu-told-their-uk-bank-accounts-will-be-closed/

Is this likely to be a problem for anyone here?

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It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams

Replies:

Posted By: Richardk
Date Posted: 21/September/2020 at 17:50

It doesn't apply here from what I've seen - its to do with Banking Licences . Applies to Holland and couple of other countries

Posted By: Jock
Date Posted: 21/September/2020 at 19:02

"Lloyds Bank confirmed to https://www.thetimes.co.uk/article/brexit-strips-expats-of-uk-bank-accounts-565bsvn6k" rel="nofollow - The Sunday Times that it will be withdrawing services from Holland, Slovakia, Germany, Ireland, Italy and Portugal - in a move that will affect 13,000 British customers".

http://www.dailymail.co.uk/news/article-8752653/British-expats-Europe-stripped-UK-bank-accounts-weeks-post-Brexit-rules.html" rel="nofollow - https://www.dailymail.co.uk/news/article-8752653/British-expats-Europe-stripped-UK-bank-accounts-weeks-post-Brexit-rules.html

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It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams

Posted By: cubsur
Date Posted: 21/September/2020 at 20:30

And no doubt the rest of the banks will follow like sheep and do the same thing.

My Civil Service pension is paid into a UK account. I shall be seeking advice!

I also have a Barclaycard independent of any bank account.

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Albufeira Resident

www.algarvebus.info public transport information for the Algarve

Posted By: Jayjan
Date Posted: 21/September/2020 at 23:47

I read on facebook today where this was posted that someone had rung Lloyds on the situation and they said they were only thinking about doing it,mmmm but some folks said they had already letters from the said bank regarding this. Whether thats the truth I do not know. Seems also Santander are thinking about doing the same as well. I find it strange when banks can do this, after all you deposit money with them, they look after it and make interest on it wherever that source maybe on it, yet they can tell you where and where not you live that affects it . Disgraceful.

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Polli the dancing cat strikes again.

Posted By: cubsur
Date Posted: 22/September/2020 at 07:43

This does not apply to all EU countries, only those with which banks have failed or realise the cost to obtain a licence to operate. I have asked my UK bank for specific information and others here with UK bank accounts should do the same.

One would assume that banks of EU countries would have similar issues obtaining agreement to provide services for their customers living in the UK.

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Albufeira Resident

www.algarvebus.info public transport information for the Algarve

Posted By: Algarveaddick
Date Posted: 23/September/2020 at 13:26

It's okay, all those who live abroad and voted leave will sort it out for us. They insisted that we were "scaremongering" when all the potential post-Brexit pitfalls were pointed out, and they still voted leave. They knew what they were voting for apparently, so I am sure they will already have a solution ready to go.

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Go away Duchatalet

Posted By: Polo Marco
Date Posted: 23/September/2020 at 14:18

It seems strange that the banks are applying this to expats in 6 EU member states and not the other 21, there must be more to this than what has and has not been negotiated between the UK and the EU.

Posted By: Jock
Date Posted: 23/September/2020 at 17:48

I have read that it appears the other banks have yet to decide. UK banks will have to register with each EU country with which they wish to deal. Perhaps registration is more trouble/expensive than it is worth.

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It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams

Posted By: cubsur
Date Posted: 24/September/2020 at 08:33

I spoke with my bank yesterday. They told me that they will be ceasing services to people living in Holland. They have not yet decided what to do about Portugal and some other countries.

I am thinking like Jock that, for some countries, the bureaucracy and cost of an agreement simply isn't worth their bother.

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Albufeira Resident

www.algarvebus.info public transport information for the Algarve

Posted By: Algarveaddick
Date Posted: 24/September/2020 at 09:10

If it is excessive bureaucracy the shambolic UK government are worried about, then those of us that live in Portugal are deep in the doo-doo...

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Go away Duchatalet

Posted By: Jock
Date Posted: 25/February/2021 at 13:45

I bank with Santander. The following info arrived with a monthly statement. It's irrelevant to me but may be of interest to expats. If not, ignore.

"Santander will continue to offer Single Euro Payments Area (SEPA) payments from your account following the end of the UKs Transition Period with the EU on 31st December 2020. References to the SEPA will continue to include the UK, but the UK will be listed as a separate jurisdiction. You can continue to make and receive SEPA payments from and to your account as you do today."

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It is no coincidence that in no known language does the phrase 'As pretty as an Airport' appear. Douglas Adams

Posted By: cubsur
Date Posted: 26/February/2021 at 08:16

My UK bank, a subsidiary of Halifax, has maintained my account as per normal.

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Albufeira Resident

www.algarvebus.info public transport information for the Algarve