That’s ok as long as you declare the account, James has a UK First Direct account and you just need to state the account details on the tax return. But who knows if that will change after Brexshit…?
I have a Hello (BNP Paribas ) online account which is entirely free to run - if anyone wants one PM me your email and if you get an account we both get some cash - you get 80€ I seem to recall.
We also have accounts with Monabanq. This is (currently) I think the best online bank in terms of customer service but each account does cost 2€ per month.
And we use Transferwise - a lot - which is excellent.
Hello Richard - Take a look at Milleis Bank - used to be Barclays France - They should be able to help you and not a whiff of ‘Smetana’. https://thebanks.eu/banks/13923
Strange, we were with HSBC and they contacted us some years ago to say that a) they would no longer accept a French address and b) that we didn’t have enough in our account to satisfy their new regulations !
I guess it’s driven by tax compliance and money laundering concerns so balance AND transactions are relevant, presumably only over a certain clipping level, for the moment. But since all EU countries now share data on bank accounts across borders mass data transfers and data matching only takes a twinkling of the eye. One can theoretically be fined for not declaring zero balance or even dormant accounts so I did a big clean up. The last thing one needs is a tax audit.
@Jane_Williamson. We have about 17 different accounts in the UK, all but 2 with a UK address, and including two executor accounts. We have declared them here every year and the tax authorities have never so much as queried it.
Maybe place all the money in NS&I? Rock solid guarantee, & don’t care where you live, and can access eveything via internet. Only downside is rubbish interest rates…but then there’s not much that pays much better.
French authorities want to know to be able to check information. Maybe that’s a small positive of B******, that the EU wide reciprocal sharing of financial info will no longer inlude the UK?
Is this in relation to Revolut? Do tell more, we have an account each and at the moment just use it for swapping small amounts of money but we’re considering using it more. Kremlin links? Etc
In my case the issue is
a) “passporting” - after Brexit UK banks will not be allowed to service EU residents ( i.e. people domiciled in France and other EU countries).
b) I want to keep the money in Sterling, since I believe converting this to Euro would not be in the long term interests of the trust.
My bank in the UK, NatWest, said they could no longer give me any advice about products or services but I could keep my account and sign up to sub-accounts without a problem. I think that’s what could be meant by can’t “service” people outside the UK.
Yes, quite likely… our account entitles us to all sorts of “extras” but then the small print says… available only for UK residents… or something like that. Hasn’t worried us…been like that for some years…
Barclays France has been taken over and has been Milleis Banque for quite a while. The transition period will end in June so plenty of time to change IBAN, RIB etc. They appear to be embracing international business and may not be too bothered about residency.
