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  • #534375
    notinterestedanymore
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    I am just reading on several news outlets, that 10’s of thousands of British expats living in Europe are to evidently be stripped of their bank accounts and credit cards after the Gov failed to negotiate post brexit rules.

    People are evidently being informed that they will close their accounts at 11 pm on Dec 31 st this year.

    Anyone care to corroborate this?

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    #534376
    AndrewJ
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    #534377
    notinterestedanymore
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    That’s one of the sites where I got it from Andrew.  I might add though, that I take that source with a huge handful of salt

     

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    #534378
    Marty
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    I would not believe anything in the DM comic, if you are concerned maybe contact your bank if you have UK accounts or wait for them to write to you which they are obliged to do.

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    #534379
    notinterestedanymore
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    #534384
    notinterestedanymore
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    Marty, I don’t have any concerns. I just thought that some on here might be concerned, that’s all. As far as for reading and perhaps believing the DM,  to be honest,  this was the first time ever, I think, that I have visited that site which  was linked to me by someone elsewhere.

    I was asking though, for corroboration.

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    #534393
    Shapeshifter
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    This really is old news.  Mentioned on forums all last week and featured on the Radio 4 Money program yesterday.  It is happening but not all banks are doing it.  It depends whether or not the bank has made special arrangements, something to do with setting up an admin branch or branches inside the EU.

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    #534394
    notinterestedanymore
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    So very sorry to  have bored you with it Shapeshifter.

    Comments like that make people leave here in droves

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    #534395
    Roger Wood
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    Droves, never had droves and anyway what is wrong with Shapeshifter’s post? I thought he explained it quite well?

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    #534406
    Jivedance
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    When I read this I contacted Nationwide in the UK for clarification. Reply was that they do not have any plans to stop us using their cards after Brexit.

    The story re Barclaycard was in the Connexion.

    If you have concerns just contact your own bank if you have one in the UK to find out what they intend to do.

    2+
    #534408
    Admin Paul
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    • Guardian
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    There is something going on with the banks but their disjointed response is partly due to the uncertainty as to how “brexit” plays out. What a mess.

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    #534413
    whitters
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    Morning All

    I also bank with Nationwide.

    I contacted them two weeks ago when this first arose, regarding issues with Barclays and the Lloyds group.

    Their comment was that they had no plans to change usage of current and deposit accounts, as well as credit cards………. at the moment.

    Totally agree with Paul’s comment.

    Just have to wait and see.

    Andy

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    #534416
    Shapeshifter
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    So very sorry to have bored you with it Shapeshifter. Comments like that make people leave here in droves

    Such a shame the wrong people are leaving.  B-)

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    #534442
    Fruitcake
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    I contacted HSBC – this is their reply;

    We’ll keep providing all the international services to our expatriate customers. Please feel free to contact your Relationship Manager should you need further details. Have a great day.

    It doesn’t actually mention account closures, or not, as such but it was the answer to my question about that subject.

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    #534446
    kate bush
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    We are with Clydesdale Bank in Scotland and I have just spoken to them re account closure for expats.  Their answer was simple.  No, they were not going to close any expats bank accounts.  Thank goodness for that I said.

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    #534461
    Anonymous
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    An article in the Guardian today. France isn’t mentioned as one of the countries affected, yet: https://www.theguardian.com/money/2020/sep/21/britons-eu-uk-bank-accounts-closed-lloyds-barclays-brexit

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    #534472
    Babeth
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    According to the bank employee we talked today, Bank of Scotland shoud be ok. Country which shoud be concerned are the Netherlands and Slovakia

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    #534536
    Topcat
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    Maybe Scottish banks will have a more level headed, positive,open minded and thinking of a brighter future back in the EU outlook on matters.It would be refreshing to think so,some hope for a prosperous future instead of all the constant negativity surrounding the current situation with Brexit related problems.

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    #534562
    Jim
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    It isn’t about being positive or open-minded. It’s about having ‘passporting rights’ to operate in other countries.

    UK will become a ‘third country’ as far as EU is concerned post-Brexit, and will therefore lose the ‘single-market’ entitlement to operate within the EU.

    As I understand it, organisations (in third countries) do not apply to one all-encompassing ‘passporting’ right to operate within the EU. But each organisation must apply to each individual EU country for the right to operate within that country. This is because each country has its own laws and regulations for financial operators to adhere to, before ‘passporting’ rights are awarded.

    Some financial operators may already hold such rights, other may hold some rights to some countries, but not others, etc.

     

    Add to that the total uncertainty of what will transpire post Brext, and one can begin to understand why some financial operators have either taken a decision to not operate in certain countries, while others have taken a ‘wait and see’ approach.

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    #534564
    Topcat
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    Positive and open minded about rejoining the EU and the single market, sooner rather than later i would think.

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