Barclaycard closing our a/cs on November 16th!

sounds genuine to me…unlikely scammer would bother, after all what would they get out of a letter like that

Barclays Bank e-mail today about changes to the term and conditions from April 2021. They will, in future, require account holders to be U.K. residents, this includes all savings accounts.

Has anyone found a U.K. bank which allows new accounts to be opened by non-U.K. residents? We have quite an amount in savings accounts in Barclays and my Govt pension is paid into our current account. Our son still lives in the U.K. and we regularly transfer cash/pay bills etc, in the U.K. Not having a U.K. Sterling account will cause us some difficulties.

John Hall, what bank did you end up with? Help!

Hi Chris,
We’ve been with Investec Bank - Gresham Street London since 1990’s. They are certainly keeping going, unaffected by Brexit changes. No interest paid but do receive our pension. Try asking them.

Izzy, I wrote an apology to you at the time but the topic was closed and although I have tried several times to edit my original, I just cannot do it. When I was suspended I wrote to Cat to say I did not know how to edit but have not heard anything so I have not done it.

I still have the apology on my account but can’t send it to you. I am happy to take out the offending sentence if it is what you want.

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Unless there are two investec banks they appear only to accept customers with £300,000 minimum income or £3million net worth…and charge a fee of £500/year?

£3 million is loose change to most of us Jane. :grinning:

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I think that HSBC are ok with none UK residents keeping an account, though I’m not sure about whether you can actually open one. First Direct will allow a new account for expats but you can only open it whilst you are in uk, (ie go back there to do it).
Have you been given a closure date and is it a personally addressed to you or a standard T&C update. Or is it a statement that they can and might do it in the future like Barclaycard. Make sure you read it carefully and I’m surprised it’s an email as if they are going to close your account then normally it would be a personal letter.

No need, thank you for trying to amend it and for responding.
Have a great day.
Izzy x

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Peace on earth… and goodwill to all… :hugs:

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Thank you and you have one too.

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Perhaps we have been allowed to continue through the various changes to T&Cs. We certainly don’t have that level of income or net worth. Our account is a ‘Private Bank Account’ and they charge us £10 per month.

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Nothing much been said about banks closing accounts.
Has anybody heard more?
I recently opened, over the phone, a current account with Nationside B/soc,
l already had a savings acoount. The adviser said there would be no issue when we sell our UK flat and changing to our French address …proof of pudding will be in the eating !

Yes - I posted earlier in the thread that Nationwide had told me they didn’t foresee any problems - I guessed it’s to do with it being a building society not a bank - the regulatory framework for mutuals is different from banks in both the UK and EU.

I note also that the FCA has just said that 4,000 London financial firms are in danger of collapse.

Morning All

Gets more complicated.

Checked with Nationwide and they have closed accounts in Netherlands and Italy. So I assume they have some passporting arrangements in France (Phew !! )

We have some friends in Brittany who bank with Yorkshire Bank, part of the Virgin Group.

They have had their accounts closed over Xmas, and were give, in effect, 14 days notice. Luckly they had other accounts in the UK that they could use.

Have a good day

Andy

Nationwide are in fact now a bank…albeit a members owned one and a mutual so of course not a PLC. I don’t suppose they have set up subsidiaries in EU countries allowing them to trade, so I wonder why they are currently indicating no change.?

I know they appear to be a bank John - and it doesn’t necessarily imply any practical difference for customers - but there is a difference on a technical legal level.

The Co-op Bank told us that as along as France did not implement any new fiscal regulations there would be no problem with our bank accounts ( that from the PA to the CEO after getting nowhere just asking the chat people ) They went on to explain that Holland and Italy had introduced new fiscal regs and they would be closing accounts in those countries.

Hi Sue

Very interesting.

Will have to see how things go.

Brexit - easiest deal on the planet . Think not.

Take care all

Andy

I think this has been posted elsewhere but I now can’t find it. Anyway, I found it useful re bank accounts

Sorry @MichaelL , I’ve just found where you posted the link. Thank you so much…

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Some very pertinent news on this topic.