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 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. But it was to no avail. It is now four months later, and I still have no access to my money, or an explanation as to what the problem might be. Your money problems are now thankfully over, as a nudge from us helped it to reach Spain. This is not a decision we take lightly, and appreciate the impact this can have on our customers. We can confirm the funds have since been released to our customer. Barclays sent you three letters in and, when no response was received, went ahead and closed the account. You accept you are not blameless as you had ignored requests for information about your tax status, and part of the hold-up was due to a problem with scanned documents you supplied. You are relieved to have access to your funds again, but after a shocking four-month wait.

This article is more than 1 year old. 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, barclays non uk exit. Any idea how long they are giving the customer to get their UK financial resources sorted before the account ceases to function?

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.

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 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.

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We have completed the required verification checks, and have initiated the transfer to their selected account. Once the money is in your Wise account, you can transfer it directly to your Australian bank account transfer fees apply. 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. Way back in the s when I was working in Poland, I was told by Barclays that I'd have to close my account because I was non-resident. Sign in to follow this Followers 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. Submission and publication of all letters is subject to our terms and conditions. Posted June 6, What has happened to my money? As part of our free introduction service, our partners offer a short, initial consultation lasting around 15 minutes during which you can have general questions answered and connect with a professional who may be able to help overcome the issues caused by unexpected account closures. Nothing to do with income or assets, it's the law. Guides, services and help for expats around the world. At Experts for Expats, we regularly receive enquiries around this and while often there are options available, the complexity of living abroad means that solutions are not always as straightforward as you would hope.

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.

Barclays closed the accounts of Britons living in Spain after Brexit. Already have an account? Options for bank account closures 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 had considered transferring some of it to Spain, but concluded my British bank was more reliable! This article is more than 1 year old. I am not a migration agent, accountant, tax expert or financial adviser, and my insights are no substitute for professional advice. Sign in to follow this Followers 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. Your money problems are now thankfully over, as a nudge from us helped it to reach Spain. FTSE 7, 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. 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. What this all does suggest though is that you certainly shouldn't be switching correspondence addresses to an overseas one with the banks anymore. What is anyone else considering?