Britons living in EU to lose UK bank accounts

From the “probably should’ve seen this coming” files:

Lloyds, Barclays and Coutts have informed retail and business customers that they will lose their accounts before or when the Brexit transition period ends on 31 December and more banks are expected to follow suit.

I wonder what position the neobanks will take, particularly (given this community, natch) Monzo?

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It’s the will of the people, apparently.

They’ll be queueing up to do trade deals, apparently.

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Seriously, though, Starling is a few months away from having an EU licence. Monzo has gone after the US.

British immigrants in other countries can go find N26 or Bunq.

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You mean expats. They’re only immigrants if they’re coming over here.

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Emigrants.

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I was being sarky :slight_smile:

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Went right over my head. I do get a bit annoyed when British immigrants are expats, but African (say) ones are immigrants :+1:

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I certainly don’t. They’re British immigrants in their chosen country.

Expat is a nasty double-standard colonial word. Britons don’t like to think of themselves as immigrants, as you point out.

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But we’re so good at double-standards.

(Wholeheartedly agree with you. P15535 me off no end.)

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Interestingly, I get to keep my Irish and Dutch bank accounts for up to 3 years after December. The UK Government has allowed this, but the EU has not allowed British expats the same opportunity vice versa.

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What about EU citizens that still have UK bank account but do not live in the UK anymore?

As I understand it, it depends on where in Europe, and which U.K. bank.

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Basically if we drop out with no deal, the banks lose passporting, which buggers up a lot of stuff. This is just a side effect.

Well this could cause me some problems if Monzo follow suit…might need to start putting some alternative plans in place so I can keep paying my UK direct debits.

Problem is even in the UK the EU and UK direct debit system was separate due to the UK’s euro opt out.
The opt out worked out for the UK economically so the minor inconvenience was a small factor to play.

Making you an immigrant from Sark? :thinking:

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Very good! :smile:

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I wonder if this will affect KBC Ireland account holders in the UK.

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Too kind … :slight_smile:

You would hope that, given historical ties between NI & the U.K., something could be worked out at least for ROI banks. I imagine that people living in NI particularly are likely to have an account in the ROI, so this could affect a significant number of individuals.