"Brexit strips expats of UK bank accounts"

Hi Jo12

Lots of discussion on the forum regarding this currently

Tens of thousands of British expats in Europe 'will be stripped of their UK bank accounts and credit cards in weeks

UK Bank Accounts after Brexit

https://www.costablancaforum.com/area/guardamar-del-segura-spain-59/banking-and-finances-in-guardamar-del-segura-11/british-expats-in-europe-will-be-stripped-of-their-uk-bank-accoun-114582/

and more 🤪🥂

Because I needed to retain my Barclays account to receive UK pensions, etc., before I moved two years ago, I told them I was moving, and gave them my new address as a that of a trusted family member living in West Mids. As far as I know, they don't know or care that I live in Spain.

I know in this new directive that banks are saying you can retain your account if you give a UK address, but I'm wondering how easy that is in practice. Has anyone done it yet? I know opening new accounts in the UK involves meeting money laundering proof of identity requirements. How easy is it to retain your account and give a UK address when they know you live in Spain?

Whilst unsure of the legality of giving an address you don’t actually reside at you also need to consider that any communications , paper statements , cards etc would also be sent to that UK address so you would need to trust the actual residents with your private affairs.  

Also wondering if you have online banking  whether it would be noted that access was being made from a Spanish base?

Herefordjack: You can always have a mailbox service in the UK if you don't have an address. They will forward your mail to your Spanish address for a fee. 

cp: No, your UK bank cannot see if you log on from abroad. They can only see your Spanish IP address but they won't see it is you.

The property I own in the UK is rented out, but it's registered with my UK bank as my UK address. I have post redirected from that address to my niece in the UK.  I do virtually everything online, so typically all she receives are statements from financial institutions that have to be issued annually by law, and new bank cards once every 3 years.  Anything I need for Spain, she scans and emails to me; she sent our new bank cards by registered mail and they arrived in under a week.  

I also wondered about the legality of providing an address you don't live in.  Although I own it, I still have to channel post through a trusted third party - and pay for post redirection - but I would need to do that even if Brexit wasn't happening 🤔

I'd have thought the banks would want to retain customers, especially in these challenging economic times, so I'm not surprised that in another thread, Barclaycard told the member that the UK address didn't have to be their own.  Even if that's incorrect, I doubt the EU would have the inclination - or the right? - to audit UK financial institutions post-Brexit.  Although the UK did sign up to international FATCA regulations, so who knows....... 😇😄

Kind regards, 

Kim