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UK banks and brokers after Brexit

Financial discussion for any financial queries for Expats
dspp
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Re: UK banks and brokers after Brexit

#375257

Postby dspp » January 9th, 2021, 6:08 pm

stevensfo wrote:
stockton wrote:
dspp wrote:

or even EU law or US law


Oh well, here in Italy, I can proudly claim to have received my very first 'Close your account' letter today. An internet savings account with Egg, who were taken over by Yorkshire Building Society in 2012, and which I had forgotten about, since it has very little in it. The weird thing is, I also have another old savings account with YBS, also with peanuts in, but that has my UK address.

I can wait for a cheque or send a form to have the 50 quid transferred to another account. I'm toying with the idea of transferring it to my other YBS account just for the hell of it. I have visions of their computer with smoke belching out "does not compute...out of control.." etc. :lol:

As dspp said, ...' if it looks wrong, it probably is wrong ....' But when have banks ever not been wrong? ;)

Steve


Congrats ! I dare you to try that :)

As it happens I am mulling over taking on a US brokerage (see my viewtopic.php?f=26&p=374831#p374831 ) and came across this Brexit-related closure news for Charles Schwab customers, and when you delve into it you can see what is going on,

"Charles Schwab telling clients in UK, Europe their accounts must move or be transferred by year’s end
November 4, 2019By Helen BurggrafNews"


https://americanexpatfinance.com/news/i ... -must-move

regards, dspp

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Re: UK banks and brokers after Brexit

#386309

Postby xiox » February 13th, 2021, 10:09 am

Rob625 wrote:Hi Brendan
My wife doesn’t read this site, but for the rest she fits your description. She has a current account at Halifax, and has heard nothing from them.
Not all UK banks are closing foreign accounts; it’s a commercial decision for each of them, as I explained. Barclays may well be keeping all or some of its overseas clients.

I live in Germany and have heard nothing from Halifax. My theory is that their system is messed up and for some reason it thinks Germany is part of my address, and not where I live. Unfortunately my application to HSBC has disappeared into the ether...

stevensfo
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Re: UK banks and brokers after Brexit

#386692

Postby stevensfo » February 14th, 2021, 4:56 pm

xiox wrote:
Rob625 wrote:Hi Brendan
My wife doesn’t read this site, but for the rest she fits your description. She has a current account at Halifax, and has heard nothing from them.
Not all UK banks are closing foreign accounts; it’s a commercial decision for each of them, as I explained. Barclays may well be keeping all or some of its overseas clients.

I live in Germany and have heard nothing from Halifax. My theory is that their system is messed up and for some reason it thinks Germany is part of my address, and not where I live. Unfortunately my application to HSBC has disappeared into the ether...


I have some old accounts that I very rarely check. Last month, I logged onto NS&I where I've had an index-linked certificate for over ten years. I'd forgotten about this 2-factor authentication stuff and they wanted me to confirm a code sent to a phone.

I looked at the number and went as white as a sheet, before laughing. The original number was an italian phone +39 ....... NS&I had it as +4439....... !!

Fortunately, I have two numbers with them that I can use and the 2nd was my UK mobile phone, so panic over.

Steve

PS With the older non-smart phones so cheap, it helps to keep a few active and reserved for things like this.


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