Same story in Conexion but I dont have access.
Anyone had notification?
I think I got it all…
By Isobel Frodsham
April 24, 2024 6:00 am
At least 60 British customers of the French bank Crédit Agricole have been told their bank accounts will be closed in 60 days due to complex issues post-Brexit.
The Britons, who are UK residents with second homes in west France, said they were “devastated” to receive the letter, claiming they received “no explanation” as to why their accounts were being closed. The letter informed them they needed to remove their money quickly.
The bank said the customers were British people who had dormant accounts with the Crédit Agricole Nord Midi-Pyrénées branch and were UK-based residents with second homes in France.
Retired headteacher Michel Taylor, 78, who lives in Aveyron with his wife, said he was “devastated” to receive the news and did not understand why they had been told to close it.
He told Connexion France: “It was a very legalistic letter. The account has been solvent for 30 years – it is crazy.
“Maybe there are some dodgy accounts but not those of ageing foreign couples like us paying our bills at the right time. We have made transfers to keep it topped up regularly.”
David Sword, 69, who has had a second home in France and bank account since 1994, told the news outlet that he was not given a reason.
He added it was implied to him in a letter from the bank that his account was overdrawn but was later told the closure was not his fault.
He told the website: “It seemed to imply it had been overdrawn. The wording was blunt and made us think we had done something to break the contract. My local branch has always been fabulous. Our contact says he has had a lot of Britons ringing him.”
A spokesman for Crédit Nord Midi-Pyrénées said about 60 accounts had been closed, linking this to the complexities in dealing with UK-based clients post-Brexit, and added that compulsory checks on clients to prevent fraud were more complicated if account holders were not in the country.
He told Connexion France: “We are obliged to run checks on how the account is running and when the client is abroad, it adds to the complications.
“There is a permanent, ongoing reinforcement of the regulations. As fraudsters find new loopholes, new regulations come out.”
i has contacted Crédit Agricole for further comment.
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I think this was some of the CA regional banks closing the accounts non-residents, primarily because they “don’t understand the rules”. CA britline customers aren’t affected as britline deal with non residents all the time and can deal with the “rules”. I’ve got the article somewhere but only glanced at it.
Edit - thanks @JohnH
I suspect this is the key fact in this story. Banks across the board like to have a clear-out occasionally, I don’t think this is purely Brexitty behaviour.
Yes, another Connexion storm in a tea-cup.
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Quite, however at least one of those in the article said their account was healthy and used to pay bills. So maybe need to keep an eye on things, maybe a racist regional manager?
They are good at those aren’t they. Still thats bad journalism for you. It sells copy. Personally not to me.
There are plenty who’d be happy to fall foul of that, myself included. I know im not the only one to have the process of closing an account drag out, in my case for over a year.