UK Resident to non-UK Resident

I posted this some time ago… (click the down arrow for full article)

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Monese may be an option: monese.com

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Yes and they also have great customer service too.

When I joined you also got a £5 welcome gift when you opened a Monese account and deposited £10. Try the code MQF6Y4C6 as I think it may still work

Note: please note this onebox is not a referal link but just goes to a regular URL

It doesn’t feel like good value considering practically no other bank charges a regular fee to hold an account with them.

But when there is currently no option to send SEPA payments from Monzo and Starling and no option for accounts in £ and € and no PayPoint and PostOffice services, it makes them a great choice

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Evan’s question reminded me of this thread!

Would the same apply here? :slight_smile:

Sorry Marcus, I have just retracted that statement! I am trying to get a bit more clarity on this now :blush:

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I saw it change before my very eyes! :wink:

Cheers, I’ll keep an eye out for an official stance on the matter :stuck_out_tongue_winking_eye: It seemed a bit off? But just reminded me of this thread :slight_smile:

Further to this, I had accounts with TSB, Nationwide, Lloyds, NatWest and Metro Bank before I left the UK.

TSB, Nationwide & Lloyds had no problem with me changing my address (although I subsequently got letters from both demanding my tax status and where I pay tax).

Metro Bank won’t accept non-UK addresses and told me I would have to close my account. As a result, as far as they are concerned, I still live in London. I happened to be in London just before my card expired. I just went into their branch, told them I was going overseas on a holiday and asked for a new card. Got it printed on the spot. I have a friend living at my old address, so mail isn’t being returned to them. Of course Metro are the one high street bank that doesn’t charge for Euro transactions.

NatWest also had no problem with me living in Spain, but as they have an offshore branch in Gibraltar, I just opened an account with them there and closed the London account. It’s currently otherwise impossible to open even a basic bank account in Gibraltar (plenty of opportunity for Monzo down here).

I have been a faithful user of Monzo from the start, I have now moved back to Spain after 19 years in the UK.

My high street banks (Barclays and Natwest) were both fine with the change of address, I am using less and less Monzo over here though and more and more Revolut.

I have experienced an address to change. :wink:

Royal Mail changed one of the digits in the postcode of the house my parents live in a few years after they moved in.

Funny you should say that: I recently noticed that my former employer had their address changed in the last few years as well: They were known by a house name (no number) but Royal Mail decided to add a house number and apparently no longer delivers mail that is addressed to the house name only. So, I take it back: Addresses can change, and I’m sure someone at Royal Mail takes deep pleasure in the resulting chaos :laughing:

Probably to ensure expensive corporate subscriptions to its PAF (Postal Address Finder) :wink:

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Hi Evan,

I finally have an answer for you. Unfortunately, if you no longer have a UK address we will have to close your account when we fully migrate to the current account. This is because of new immigration laws that require us to run regular checks. To run these checks, we need a UK address :disappointed:

I’m really sorry about this! Hopefully, we will be in Spain in no time!

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Great to have a reply to this. Do you think the terms and conditions could be updated to reflect this?

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Strange that they are immigration laws rather than Anti Money Laundering laws that require this. Also odd that most UK banks are ok with EU residents having UK bank accounts.

I guess I can keep my account until the very end. I currently am awaiting a chargeback from a Monarch flight which should be refunded in the next few months and wouldn’t want the closure of my account to mean that I’d miss out on that refund.

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I’m guessing they are referring to this:

https://community.monzo.com/t/uk-banks-to-check-70m-bank-accounts-in-search-for-illegal-immigrants/23316

The regulations themselves do of course not demand UK addresses, but I guess Monzo’s implementation does.

Interesting.

Whilst I don’t currently live in the UK, I do have permission to remain in the UK (given I have a UK passport and citizenship). In theory, I’d pass Barclays interpretation quite easily.

My mum and stepdad have UK bank accounts still and they live in Spain and have done for years…

Access to a basic bank account is enshrined in EU legislation:

Note that this right does not apply to current accounts where additional services like debit cards and overdrafts are normally included.

I wonder if Monzo would consider the possibility of offering basic bank accounts? This would make Monzo accessible to many more potential customers throughout the EU.