More major Uk banks to shut British accounts for Spanish residents. Due to EU red tape. - Page 2

Darro,  I thought you knew me better than that 😉

Not aware that I know you at all.

Are you Joddle/Josh in Spain in another place?

Don’t see why Spanish residents should hold a British bank account or use the NHS like many do!

There is a reason why, as a very long term Spanish resident, I should have a UK bank account in addition to my Spanish bank account..  The reason is that my company pension requires to be paid in to a UK bank account. Barclay are closing my UK accounts so I am in the process of opening accounts with HSBC UK who in fact  will take both UK and EU residents as new customers.    Many pre WA residents, who are legally resident in Spain under S1 forms, are entitled to use the UK NHS.  They only have to produce that form when registering as a temporary visitor with the local GP to where they are staying should the need arise.  My husband had occasion two years ago to do so.  The local GP arranged for him to be admitted to hospital  where he received treatment for 5 days as an inpatient.

I agree with your post Stephanie.

My pension company will only pay into a UK bank account, hence I have a UK account too.

The S1 can be used instead of having a GHIC.

It's really nobody's business who holds a UK account or for what reason 🤔 

Steve 

Barclays wrote officially to me to my Spanish address. Their letter was dated the 10 May.  They are closing current and or savings accounts on the 24 November 2022 of people who are living within the EEU.     Quote from their letter " To keep using your accounts with us YOU need to be  living in the UK"

Hi Carol,

I'm a Spanish resident and have a Spanish bank account, but I also have a UK bank account, because I own another property in the UK.  I would imagine this could apply to all Spanish residents who own property in the UK.  I do not use the NHS.

Hi Hew,

It was widely discussed in the British press, not long after Brexit, that there would be a significant impact on the UK´s Financial Services industry, because of the loss of "passporting rights" that previously enabled UK financial institutions to offer products and services to UK citizens living in the EU.  Post Brexit, some financial companies got around this by registering a division of their business in other EU countries, e.g. those of us who had Wise accounts pre-Brexit will remember that our accounts were switched from a UK IBAN to a Belgian IBAN.  Barclays Bank hasn't made a secret that its primary focus is on their US business, not the EU; some of the other UK banks appear to have taken longer to assess the ongoing value of their retail business in the EU.  Interestingly, my UK account is with Intelligent Finance, which is part of Bank of Scotland plc, which is owned by Lloyds Banking Group.  IF know I live in Spain and I've heard nothing about my account being due for closure.

Of course, this is not "EU red tape", it's about UK citizens choosing to renounce their membership of the EU, but I'm not surprised if the anti-EU British press is reporting it as such.

Kind regards,

Kim

I was interested in Stephanie’s mention of opening a bank account with HSBC U.K. 

So, I thought I would take a look, and it appears not to be widely available. The criteria to open an Expat Account says you must maintain a balance of £50,000 or have a salary of £100,000 p,a, 

I spoke to Lloyds today, and although they said that there are no plans to close my account, or withdraw the credit card, I am not convinced. They also referred me to their T&C’s, which indeed say you must be a U.K. resident. Looks like I will have to investigate WISE. I would rather change banks in my own time, not when they decide 😩

Sheila64     I am not entirely sure what you are looking at .  I never mentioned an Expat Account.  I am in the process of opening, like others are, a normal bog standard current account with HSBC UK.   Note the last 2 ......UK after HSBC.  The details on there are clearly given in order that you can start the process of opening an account with them.  Initially we all have used our UK passports as ID and copy of back and  front of TIE for proof of address.  They require you also to provide a "selfie" type photograph as part of your application process.  I started my application at the beginning of July. It was all acknowledged on my Spanish mobile and I was given a reference number.  I telephoned them last week to enquire as to how my application was proceeding.  I was told that my application is at present with a team, awaiting processing.  They are inundated with new applicants it would appear. Not surprising really.

WOW, thank you so much for that. I will have to find out more, but that sounds promising. I simply googled HSBC U.K., and was directed to their Expat account. It is a minefield, and a worry. I appreciate your reply. 👍