STEVE G wrote: ↑Tue Mar 07, 2023 1:01 pm
Yes, it all started due to UK banks loosing the rights to offer banking services in Europe following the end of the Brexit transition period.
And in 2013, Lloyds TSB was forced to split into two banks again, after Lloyds took over the operation of TSB in 1995, by a European Commission ruling in 2009, as a result of Government funding received by Lloyds during the financial crisis. If that hadn't happened, I doubt very much that I would have had to cancel my accounts in TSB. The bank has suffered ever since the split and despite now being Spanish owned (naturally), reverted to 'little UK' status by deciding to concentrate on the domestic market only.
I have a new Lloyds credit card in transit to Thailand right now.
Yes, I had a Lloyds/ Lloyds-TSB/ TSB account for 42 years but was forced to close it last year due to being non-resident.
I used to have a Lloyds international account but I closed it a couple of years ago because since I stopped doing contract work, it wasn't really worth the fees or minimum balance for what I could do with it.
I read in todays UK press that Barclays Bank is in the process of cancelling ex pats account, with 6months notice apparently. Lloyds Bank is reported to be doing the same. That does not leave many of the major banks left, and as it is a hassle opening a new account nowadays due to various regulations I wonder what our options are when we get "cancelled"
Is the Post Office bank still on the go and what about Wise? would it be possible to get our pensions sent directly to them.
I don’t know what paper was carrying that story but I can’t find anything doing a Google search. - in the event that it does happen then I’m sure other banks will provide you with the same services. One bank who seems to specialise in offering banking facilities to expats is Starling - they don’t have high street branches but are very efficient - I opened an account with them in 2022 and not had any problems so far.
Dannie Boy wrote:I don’t know what paper was carrying that story but I can’t find anything doing a Google search. - in the event that it does happen then I’m sure other banks will provide you with the same services. One bank who seems to specialise in offering banking facilities to expats is Starling - they don’t have high street branches but are very efficient - I opened an account with them in 2022 and not had any problems so far.
I also read the Telegraph article this morning. So its going to happen, however I had a conversation with a Barclays employee about a year ago with reference to sending my new debit card to Saudi, as they have also stopped doing this for me. I asked the question on the future of my account as I am non resident in UK, she replied to the effect that Barclay's stance on this subject is due to Brexit and the customers who reside within the EU. She said that as I reside outside the UK and indeed the EU that there was no plan to close my account. I will wait and see.
As an alternative my financial advisors who is based in France has told me a lot of his clients are opening accounts with Wise. Will keep you guys updated on any changes I experience. GN
In France too, many banks close accounts of people who are non residents and who cannot provide a Tax ID from Thailand or any else country where they are.
Motyduke wrote: ↑Sat Sep 23, 2023 4:36 pm
In France too, many banks close accounts of people who are non residents and who cannot provide a Tax ID from Thailand or any else country where they are.
I can remember about 6 years ago having similar problems with HSBC in the UK about a Thai tax ID - although I didn’t have one, I found out that if you have a pink ID card, the number is the same as your tax ID would be, so I gave them that and they’ve been quiet ever since.
I'm with Lloyds linked to a UK address. They don't have any record of international transfers as it's done via Wise. How would they know that I'm not resident?
I closed my TSB account last year because I didn't really need it now I'm paying full tax in Europe but I still keep getting emails from them about UK residency.
HHTel wrote: ↑Sat Sep 23, 2023 7:36 pm
I'm with Lloyds linked to a UK address. They don't have any record of international transfers as it's done via Wise. How would they know that I'm not resident?
When was the last time you spent any money in the UK? And they know you are sending your money somewhere. They will know.
Agreed. But many of the transfers has been to my son and daughter in the uk. (plus Wise which is a local transfer) Conversely, money has been transferred to me from my son and daughter and my mother. There are purchases from Argos and Amazon. But I'm sure a sleuth with half a brain could work it out.
