Pensions and investment questions?

You’re right Nicky.

Their website now reads as follows. They must have changed it in just the past couple of weeks.

They’re not doing this anymore unfortunately. Existing accounts are still OK as we have First Direct accounts.

Just beaten to it by @Nicky … by 11 minutes on an 18 day old post :grin:

1 Like

Have a few mates here in France who will be very glad they opened their HSBC accounts when they did.

This certainly explains the problem with the website recently. Clearly the decision had been taken but the site hadn’t been properly updated to reflect the new rule.

Presumably they will allow people who have already opened an HSBC Basic Bank Account to keep it?

We still have our First Direct accounts, which is basically HSBC UK.

Yes I took the precaution of opening one with First Direct a few months ago while I am still in UK.

I also have a Nationwide Flex account which I am going to keep.

Same with my Lloyds credit card account, but they won’t allow me to open a bank account and only recently they allowed me to have internet banking just for the card account.

I guard my Yorkshire Bank account jealously too, even though they call it Virgin Money now (but I still have to mention Yorkshire when logging on) :roll_eyes: .

I wonder will they let my friends keep the Basic Account.

To confuse you even more, Virgin Money is now owned by Nationwide.

So you may soon have to refer to yourself as a Nationwide Yorkshire Virgin. :smiley:

1 Like

Whatever else I am am not a Yorkshire Virgin. But I didn’t know that, the only thing that is mentioned each time I log on is Yorkshire, Clydesdale and Virgin. They dropped the Australian connection some years ago. I don’t care what they call themselves as long as they don’t cancel the account, haven’t transferred money for many months and don’t want to at the moment with the rate as abysmal as it currently is.

If you are a US citizen and French resident, I think your capital gains and dividends from US non-retirement accounts are not taxed by France but must still be reported on your French tax forms.

I believe they’re quite rare.

Mind you, there aren’t that many Catholic churches in God’s own county
(admit it, some of you expected a different subsequent sentence)

But in any case, if you’ll pardon the mixed metaphor..‘Our Lady of Leeds’ doesn’t seem quite kosher.

Now I find the latest transformation is Nationwide, apparently they have taken over Virgin Money.

I am assured though that as far as my account is concerned nothing will change.

Yes there seems to be a bit of consolidation going on. NatWest have taken over Sainsbury’s Bank which got my Mum in a bit of a flap as she has a card with Sainsbury’s but all that’s changed is the logo on the statements.

1 Like

Yes, we started off with Yorkshire Bank, which at some point was owned by Australia Bank, which also owned Clydesdale Bank, or the other way round then Australia disappeared (the bank not the country :roll_eyes:) and later still everything became Virgin although we still had to mention Yorkshire on Virgin’s web site.

Once a upon a time I thought that Nationwide would be a good idea because they allowed French resident customers but then found out that, like all the others, they wouldn’t take on any. Well, apparently, they are now. :wink: :joy:

Yes it has to be a pre-existing (UK resident opened) account but you have cunningly sneaked under the wire. :smiley:

I have been a Nationwide member (we all own it as it’s a mutual, not a corporation with shareholders) for many years and have always found them good to deal with.

Not sure if we are all going to suddenly become owners too but I don’t see it as a bad move.

I wonder if you have considered opening several current accounts over a period of time whilst in the UK to obtain the switching bonus’s - free cash as MSE’s Martin Lewis calls it. You could make a fair bit.

As I understand it, the default position if you have an account or a mortgage or loan with Nationwide you are automatically a “member”, which means you can vote at the AGM and get other benefits:

I have but it’s quite a faff as you have to switch direct debits and pay in a certain amount each month. Not sure I can be bothered to be honest!