Barclays non uk exit

Barclays has announced plans to shut down the UK current and savings accounts of British expatriates, a move set to affect thousands of customers.

Barclays have sent out letters to all Australian account holders that have any non UK address on their accounts. They have notified account holders that the account must be closed as they will no longer service non UK account holders. Just wondering what the options are for anyone with investments still in the UK and or state pension payments. It's a big pain for us as we have rental income and costs. Looked at opening a new expat account but all of them require you to invest 50k GBP or have a salary of k GBP and have extortionate fees. Tried to change address online to a UK relatives but it won't let me change the country without calling them and providing proof of address. What is anyone else considering?

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. Although you did not receive any correspondence from Barclays, the bank sent you three letters — one posted as far back as November — informing you of its intention to close the account.

Sadly no. This is not a decision we take lightly, and appreciate the impact this can have on our customers.

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!

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 We last covered this topic at the beginning of October , when the majority of UK banks we spoke to said they were not planning to close any accounts - however, this situation seems to have changed. Here, we reveal the experiences some British expats have had with their banks, and explore what the alternatives are if UK banking providers can no longer operate in your country of residence. Get a firmer grip on your finances with the expert tips in our Money newsletter — it's free weekly. This newsletter delivers free money-related content, along with other information about Which? Group products and services. Unsubscribe whenever you want.

Barclays non uk exit

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.

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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. This article provides insight into why accounts are being closed and the options you may want to consider if you have been threatened with an account closure. As I have said before: posting 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. If you have an account with a UK based financial institution which is being threatened with closure, there are investment accounts you can apply for and transfer your funds to, even as a non-resident. I often receive letters about this requesting proof of identity and tax residency certified copies of ID documents , which I generally file under 'bin'. First part sounds right - not so sure about the latter. As a result, many firms decided that it was simpler and more cost effective to simply stop providing services to people outside the UK — and started sending out letters saying that accounts would be closed. 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. Sign In Now. For example, they may have tie in periods on certain investments which mean they face being penalised for having to move money which they have no choice over.

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

Your money problems are now thankfully over, as a nudge from us helped it to reach Spain. Barclays says it wrote to tell me this would happen, but I did not receive the letter. It's easy! As I have said before: posting 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. We welcome letters but cannot answer individually. Email us at consumer. They have notified account holders that the account must be closed as they will no longer service non UK account holders. This article is more than 1 year old. We welcome letters but cannot answer individually. I often receive letters about this requesting proof of identity and tax residency certified copies of ID documents , which I generally file under 'bin'. Reuse this content. I would be interested in any suggestions. I don't see much point in questioning the situation unless you're planning to take one of the banks to court over it. Posted June 4, 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.