Barclays to strip UK bank accounts of Britons living in the EU
Tens of thousands of UK citizens who live in the EU are to be stripped of their UK bank accounts and credit cards due to Brexit
Tens of thousands of UK citizens who live in the EU are to be stripped of their UK bank accounts and credit cards due to Brexit
Tens of thousands of UK citizens who live in the EU are to be stripped of their UK bank accounts and credit cards within weeks, The move occurs as the UK government failed to agree on any post-Brexit trade deal with the EU.
Since the UK won't be continuing with pan-European banking rules and passporting, It will be illegal for the UK banks to provide services to british customers in the EU without having new banking licences.
Barclays bank has sent out emails to their customers in Spain stating that their credit cards will be cancelled in November 2020 if they fail to provide a UK residential address.
Most of the retired expats use their credit card in Spain and get their pensions paid in the same account.
The email says "Unfortunately, we now need to let you know your account will be closed in November 16, 2020 If you don't provide us with a UK residential address."
"Please log into your Barclaycard online servicing account and update details of your UK residential address before November 16,2020. Your address must be in one of the following countries: England, Wales, Scotland or Northern Ireland. If you're unable to provide us with your UK residentials address by November 16, 2020, You're account will be closed on that day."
A spokesperson from Barclays Bank said, "With the UK due to leave the European Union, We can no longer offer credit cards to the customers that do not have a residential UK address linked to their barclaycard. We have written to the impacted customers to give them advance notice of the decision."
Barclays bank in the UK will need the UK residential address by November 16, 2020 of the Brittons living in the EU. You can login to Barclays bank online or use Barclays App and update your address.
You can read more here : The Times
Barclays to strip UK bank accounts of Britons living in the EU
Lloyds bank to withdraw from 6 of the EU countries due to passporting rules
Why Keir Starmer is selling Boris Johnson's very own message "Get Brexit Done"
JPMorgan Chase & Co to move assets worth 200 Billion Euros from the UK to Germany
Share what you think
lily
@keith it's current accounts savings ISAs and credit cards. People will need to make alternative arrangements and have international accounts. Barclays has already sent letter to customers.Like
Posted November 1, 2020, 2:44 pm
Mike Hurst
I finished my account with Barclays years ago because of the ridiculous bank charges each month, although there were no transactions. I now pay 4.90 € per month for an account with the Sparkasse !Like
Posted September 21, 2020, 8:18 am
Christina kelly
Does this apply to.jersey a nd Guernsey?Like
Posted September 20, 2020, 1:33 pm
ray dunkley
thats fine by me i will max it oout if account gets closed i cannot pay into it so what ever thousands i owe on it will be wiped as well - easy peasy for meLike
Posted September 20, 2020, 1:23 pm
User-1600603436731
You’re is a contraction of the phrase you are. Firms mostly use thisLike
Posted September 20, 2020, 12:03 pm
Woody
But legally you cannot have a bank account in UK if you are resident out of the UK, unless it is an international bank account so the banks will follow suit Im sure.Like
Posted September 20, 2020, 12:02 pm
User-1600601460936
It's your, not you're...Like
Posted September 20, 2020, 11:28 am
Cwe
Brexshit literally!Like
Posted September 20, 2020, 10:11 am
Keith
Completely misleading....Its Credit card accounts, NOT standard bank accounts...Is this deliberate dramatization ?Like
Posted September 20, 2020, 10:05 am
User-1600594811775
A number of the biggest British banks, including Lloyds, Barclays and the Queen’s bank, Coutts, have started writing to expatriates to say they will stop serving them when the withdrawal agreement ends at 11pm on December 31. - The Sunday TimesLike
Posted September 20, 2020, 9:40 am
Richard
Please read this too https://www.thetimes.co.uk/article/brexit-strips-expats-of-uk-bank-accounts-565bsvn6kLike
Posted September 20, 2020, 9:33 am
User-1600593673993
You said bank accounts and credit cards. Barclaycard only mention credit cards.Like
Posted September 20, 2020, 9:21 am
User-1600593671674
You said bank accounts and credit cards. Barclaycard only mention credit cards.Like
Posted September 20, 2020, 9:21 am