Barclays non uk exit

Barclays have sent out letters to all Australian account holders that have any non UK address on their accounts.

Barclays has announced plans to shut down the UK current and savings accounts of British expatriates, a move set to affect thousands of customers. The decision, confirmed on Monday, will potentially leave these customers without access to their savings and pensions. The bank has been issuing a six-month notice to affected customers, urging them to transfer their funds. This development comes after a review of Barclays' international offerings initiated in A spokesman for the bank stated that "UK products are designed for customers living in Britain". Under the latest closures by Barclays, holders of cash ISAs and fixed-rate bonds residing in Estonia, Italy, the Netherlands or Slovakia will have their accounts closed. Similarly, mortgage and loan holders registered outside the UK will not have their accounts closed but will be unable to remortgage at the end of their term.

Barclays non uk exit

I have had a Barclays bank account for 27 years and kept it when I moved to Greece but, after Brexit, it decided to close accounts held by non-UK residents. When I contacted Barclays, I was told it had been closed and it advised me to make a reclaim request for my money to be transferred to my Greek bank account. I did this online on 14 September. I also filled in the account closing instructions form and uploaded all the documents it asked for. However, more than a month has passed and my funds have still not arrived. I have repeatedly called Barclays to find out what has gone wrong, but no one can tell me. What has happened to my money? AR, Axioupoli , Greece. This is the second case I have dealt with where a Greece-based Barclays customer has struggled to get hold of their cash after the unexpected to them closure of their account. Where we make the decision to no longer offer products and services, we are contacting impacted customers to give them six months notice of this decision and outline the next steps they need to take. We have completed the required verification checks, and have initiated the transfer to their selected account.

Comments … Sign barclays non uk exit or create your Guardian account to join the discussion. We welcome letters but cannot answer individually. If your UK bank is closing your account, unfortunately opening a standard UK bank account is unlikely to be possible once you are no longer resident in the UK.

I have had a Barclays bank account for 40 years, but in December, when I tried to transfer money to my account here in Spain, I was unable to access it. I discovered that, after Brexit, it had been closed by the bank. Barclays says it wrote to tell me this would happen, but I did not receive the letter. I am currently out of work and need this money to live on. I had considered transferring some of it to Spain, but concluded my British bank was more reliable! I filled in the form to reclaim my money and, despite being advised it would be sent within 10 to 15 working days, it did not arrive.

I have had a Barclays bank account for 40 years, but in December, when I tried to transfer money to my account here in Spain, I was unable to access it. I discovered that, after Brexit, it had been closed by the bank. Barclays says it wrote to tell me this would happen, but I did not receive the letter. I am currently out of work and need this money to live on. I had considered transferring some of it to Spain, but concluded my British bank was more reliable! I filled in the form to reclaim my money and, despite being advised it would be sent within 10 to 15 working days, it did not arrive. After many calls to the Barclays helpline I discovered there was a problem with the documents I had sent, so I went through the process again in February.

Barclays non uk exit

By clicking a retailer link you consent to third party cookies that track your onward journey. If you make a purchase, Which? An increasing number of British citizens living in EU countries are being told their UK bank accounts will be closed after the Brexit withdrawal period ends on 31 December

Timesheet gif

I kept the account when I moved to Greece, but the bank closed accounts held by non-UK residents. It then went ahead and shut it in the summer. Already have an account? Comments … Sign in or create your Guardian account to join the discussion. So where are the regulations that are driving this? One of the biggest problems, however, is the notice period itself and forcing people into making decisions which they were not expecting at times which may not be practical or sensible. Posted June 3, For example, we have been assisting people with investment accounts with Hargreaves Lansdown and Nutmeg, to name but two others. What has happened to my money? Online banking is all electronic so there is a money trail. So from my research I understand that whilst it isn't against the law, the regulations around AML, KYC and HMRC compliance make it complex and expensive to administer these accounts, and so they don't offer them. What's the legislation to which you are referring please? AR, Axioupoli , Greece. However, they must comply with local laws and regulations when serving customers outside the UK.

What options are available for British expats living in the EU who have been told that their UK bank account will be closed in the event of no trade deal being agreed between the EU and the UK before January 1st As every British citizen living in the EU and most worldwide will be aware, the Brexit transition period comes to an end on December 31 st which means that as of 1 st January , the UK will have formally left the EU. Unfortunately, with the 31 st December deadline looming and any trade agreement needing to be signed and ratified by that date, it is looking increasingly likely that there will be no trade agreement in place on 1 st January

The Day, Teach Man, to lifetime. I was told by staff at Barclays, Santander, HSBC, Natwest and Lloyds that it was out of their hands, and that they were simply not permitted to open bank accounts for non-residents. Barclays sent you three letters in and, when no response was received, went ahead and closed the account. As noted above, that's not possible. The simple "work-around" is to use a family UK address as yours. Reuse this content. Bitcoin USD 69, Crude Oil Hope this helps. Sending letters and then closing accounts — even when no reply comes from the account holder — does not seem good enough when large sums of money are at stake. They also need to take tax off interest if you earn enough and that's complex when you are non-resident. Until I see anything to the contrary I surmise this is internal policies, or compliance putting it in the too hard basket. Why are financial institutions closing bank accounts? Who should you speak to for assistance?