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  • #533839
    AndrewJ
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    13th August 2018

    I agree with Marty, I use Transferwise ‘Borderless’ both for business and personal banking. I maintain accounts in 5 currencies, each with their own ‘in country’ account complete with and IBAN for each account.

    I have both  business and personal debit cards with them (free) and it just works perfectly for me. If you don’t need credit facilities or insurances Etc it really is an ideal banking solution.

    https://transferwise.com/gb/borderless/

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    #533842
    John P
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    5th January 2017

    So how does this all pan out for anyone who doesn’t have an English bank account? I closed mine years ago, long before any talk of brexit. My pensions (all UK based) are paid straight into my French bank and I have no control over which company does this, it is organised by the pension provider and quite often changes from one to another, presumably to take advantage of the best rates available at the time ie; worldlink, custom house financial UK, western union and so on. I would assume this will continue although I suppose an excuse will be found to put up the charges for this service which at present are quite reasonable.

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    #533843
    Marty
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    12th September 2020

    I don’t have any UK accounts either, saw no need for them as do not go there any more and with the shambles ruling the roost, wouldn’t be surprised to see them helping themselves to non residents money under the guise of some tax or another.They have no respect for the law, currently being shown in their true colours. The euro is so much easier when travelling between countries in the union.

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    #533854
    Topcat
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    15th October 2019

    All the people that are using Transferwise,where are you transferring your money from?Is it a UK bank account?The issue that we are trying to get to the bottom of is about whether UK banks are going to be forced to close accounts with foreign addresses.

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    #533857
    Fitter
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    20th March 2016

    I had a letter today from “Barclay card” informing me that they closing my account with them as I live in the EU, however if I move back to UK before the cut off date, I can keep the account! They say they are closing the accounts of all EU residents. What a mess! :negative:

    As I have said on another post, I think it’s purely a matter that if you were to default on your Barclaycard “loan” payments should you have a debit balance on your card statement, they may not be able to enforce debt recovery in the EU in the event if a no-deal Brexit.

    Ironic that they will not allow you to be a Barclaycard account holder if you are resident in France, but of course they will accept payments from you if you are resident in France! :yes:

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    #533928
    AndrewJ
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    13th August 2018

    I don’t have any UK accounts either, saw no need for them as do not go there any more and with the shambles ruling the roost, wouldn’t be surprised to see them helping themselves to non residents money under the guise of some tax or another.They have no respect for the law, currently being shown in their true colours. The euro is so much easier when travelling between countries in the union.

    Top Cat, with a Transferwise Borderless account you get a UK ‘bank account’ complete with IBAN (to receive money like pensions or whatever else you like) and you can open accounts in any other currency also with an IBAN so you can have sterling and euro accounts to receive, send and spend your money.

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    #533952
    Topcat
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    15th October 2019

    Thanks for the info AndrewJ,looks like a lot of people may have to look at companies like this, as the UK banks seem to be getting nervous and will probably get backed in to a corner.It,s not really the banks playing silly games,as stated in the letters being sent out,it is Brexit that is causing all the problems.

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    #534096
    AndrewJ
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    13th August 2018

    AN UPDATE ON TRANSFERWISE ‘BORDERLESS’ ACCOUNTS

    I received an email this morning asking to me confirm my identity which seems reasonable under the ‘know your customer and cover your arse rules’ at the moment.

    All they require is this, which doesn’t seem too onerous for me.

    https://transferwise.com/help/articles/2949281/confirm-your-identity-with-a-photo-of-yourself-holding-your-id

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    #534275
    Jim
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    7th July 2020

    An update on Banking Services.

    https://www.bbc.co.uk/sounds/play/m000mrcm

     

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    #534295
    Fruitcake
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    13th July 2018

    Thank you for posting that link Jim, it’s all still very uncertain by the sound of it!

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