UK bank account(s) closure

[DaveW]

Got my letter today, will think on it.

[MAD87]

@Blaze First Direct won't allow a new a/c now without a UK address. I fear this will happen with all banks + PBs. Maybe not with Nationwide as it's not a bank, but I'm not holding my breath.
Imagine supporting a "policy" that's going to drain even more billions from the UK coffers!

[DaveW]

I assume the banks see a risk, probably legal/regulatory, in servicing accounts in the EU.

[elsie]

I assume the banks see a risk, probably legal/regulatory, in servicing accounts in the EU.

from https://www.monito.com/en/wiki/how-to-a ... nationals/
One of the most important consequences of Brexit for consumers is that British banks can no longer rely on the EU’s Financial Passporting System, allowing European financial institutions to operate freely within the EEA. Now, in order to offer financial services to UK citizens and Europeans throughout the continent without any friction, they must instead be licensed in each country in which they wish to operate — which might imply opening a subsidiary there, instead of opening a simple branch or providing their services from a third country.

So they will probably only continue in countries where there are enough customers to make it commercially worthwhile.

see also https://lifestylegroup.es/uk-banks-clos ... its-spain/

[manonthemoon2]

Got my letter today, will think on it.

Which UK bank are you with please?

[niemeyjt]

Which UK bank are you with please?

I have a Barclays account and haven’t heard anything - yet. Do they give the option of providing a UK address?

[MAD87]

from https://www.monito.com/en/wiki/how-to-a ... nationals/

Thank you Elsie - that's a very informative link.

[tagh]

If you need a new bank try NatWest International based in Jersey. Been with them since 1972.

[elsie]

If you need a new bank try NatWest International based in Jersey. Been with them since 1972.

I think you will find if you aren't resident in Jersey, Guernsey, Gibraltar or the Isle of Man you can only open an International Select account which requires you to open the account with a minimum deposit of £25,000 or pay in a mandated salary of £40,000

[Char]

I haven't even got €250 let alone 25,000