Another Brexit "benefit"

Thank you for that clarification Spangler, we agree about the benefits of travel.

But like you, I could live without any more business travel. My last business trip was in November, to Paris. I flew out one day, stayed in the airport Ibis, had an 8-hour meeting in a windowless basement room the next day and then flew home! Ah, the glamour!!

On BBC 4 programme “Money Box” a few days ago. Brits living in Europe who do not have a valid U.K. address, and have accounts with Lloyd’s and Barclays, are receiving letters telling them to clear their accounts by a certain date. I think it’s mid October for Lloyds, and November for Barclays. Apparently other banks are likely to follow.

Just seen this in The Local. We don't bank with either of those, but very worrying and difficult if we do lose our UK bank account. I know you can have your pensions paid directly to your overseas bank account, but we have family commitments in the UK.

Indeed- we pay direct debits from our UK account, and local rates, etc. Hopefully as we still have a flat in the UK, it will serve as official address, even though we live abroad. My OH has had account with his bank for 60+ years, and me with mine for 50.

Could you perhaps pay a small rent to a family member for a room at theirs and therefore an official address?

But clearly, this is not 'just' about Credit Cards and a real concern.
When we were doing all the planning for the move, we were told very clearly that we could keep existing UK accounts, but would not be able to open new ones or switch banks.

I think the Barclaycard letter said, "be resident at" so I suspect a UK address wouldn't work. Is this just in the event of a no deal Brexit?

More from the Sunday Times- so yes, it seems that our UK address will not be valid either

''Tens of thousands of Britons who live in Europe are to be stripped of their UK bank accounts and credit cards within weeks, because the government has failed to negotiate post-Brexit rules.

A number of the biggest British banks, including Lloyds, Barclays and the Queen’s bank, Coutts, have started writing to expatriates to say they will stop serving them when the withdrawal agreement ends at 11pm on December 31.

Without a continuation of crucial pan-European banking rules, known as passporting, it will become illegal for UK banks to provide for non UK residents'' (even if they have had those accounts for decades, and even if they have an official UK address)

The Local had this:
"Lloyds, Britain’s biggest banking group, began writing to customers in August, warning them that their bank accounts would close down on December 31.
The bank estimates that 13,000 customers, including those based in Holland, Slovakia, Germany, Ireland, Italy and Portugal, would lose their accounts."
So not France or Spain on that list, but Ireland? Seriously?

Out of interest I just looked up that our bank in France, Crédit Agricole, has 7,200 branches in the country. Compare that with Barclays 1,600 UK branches or worse still Lloyds 1,100.
In the long run I think you could be better off banking with a local bank in France and receiving face to face contact and good customer service. So all is not lost.

We do have a French bank account Ellianne, with Credit Agricole. The point is that our income is all UK pensions and we prefer to keep some money in the UK to spend when we are there and provide treats and extras for the grandchildren. We move a significant sum each month to the CA account for all our French expenses. We model all our spending on spreadsheets using the current exchange rates, so the management of the transfer is a significant part of our financial management.
I don't think you could live in France without a French account (and a handful of RIBS).

Hmm. There must be some loopholes somewhere!

Same here Mamie. No legal loopholes Ellianne- but if you find one, do please share with us.

I think the issue is that we have to be absolutely clear about our place of residence in order to maintain our rights post Brexit. We have titres de séjour as EU citizens, but we will have to continue to provide evidence of residence and resources as our status changes to Third Country Nationals. It would be unwise for people to claim UK residence as well.
The wider issue of the impact of passporting rights on financial and other services is the bigger problem. My DH spent many years working in IT consultancy across Europe, earning money for a UK based company.
How is that going to work smoothly in the future if every country has different arrangements with the UK?

Indeed- both os us have never worked anywhere else than UK, and are totally dependent on our UK pensions- so perhaps different. And of course, it is absolutely impossible, illegal and wrong to claim residenc in both countries. The point being, when we made very very careful plans for our move abroad- we were assured that keeping our UK bank accounts would be 100% secure-and all the goal posts have nox changed. Same for access to health care- we have no idea how this will work out for us next year. It will very probably cost us about £1000 a month to get adequate cover, whereas we are now covered for about that much for the whole year- just at the time when our income is dropping like a stone due to tanking Sterling.

I do know a few Brits in France who have been living 'under the radar', not quite here nor there, to avoid tax, etc- and they will be up sh*t creek without a paddle - and probably deserved, I am afraid.

I have my Local Government pension paid into a Barclays acct in UK. Although I have a French bank account as well I'm not sure if LAs will pay into a French account, I understand that NHS will not do this.
We don't have a UK address at all so not sure where I go next.

If the govt sees what problems they are causing, perhaps they might manage to sort it (she says hopefully)

biba70

I do know a few Brits in France who have been living 'under the radar', not quite here nor there, to avoid tax, etc- and they will be up sh*t creek without a paddle - and probably deserved, I am afraid.

Some very old friends decided to return to England and told the French tax authorities that they were non resident w.e.f. 1 January 2018. We saw them in spring last year when they mentioned that their French doctor was arranging for a knee op that September for the husband. I told them that they shouldn't be doing that since they weren't resident in France. I haven't seen them since then.

Since we moved to France aged 60 we've started to feel like health tourists because we have used the health service quite a lot, especially my OH who used to be healthy but during the last few years has had some. The first, several years ago was pains in the upper left shoulder and I called the emergency service and a doctor came within 15 minutes. Nothing suggesting a heart attack on the ecg. More people came, first the SAMU and then the pompiers to take him to hospital. At one time there were 8 extra people in the house. It turned out that he had pericarditis and this was quickly treated. Because of the way in which the health system works here we received a copy of the bill, breaking down the various costs. The total was 3,800 euros.

That is why I don't understand people who are below the radar.

Don't get it either. One of them is getting scared and trying to sell the house- but a lot of repairs have been done not in accordance with French legal requirements and not declared- so it is proving very difficult.

Often there’s more than meets the eye with some ex-pats when all comes to all. They tell a tale but it’s often not the full story!

Seems it’s not just credit cards now but bank accounts too. Not Spain affected yet for some reason?

Urmstongran

Often there’s more than meets the eye with some ex-pats when all comes to all. They tell a tale but it’s often not the full story!

Yes, it's amusing how often a teacher becomes a retired head of department and so on up the scale.

? Dinahmo

what on earth would be the point of that?

Mind you, I know a very good friend who was Senior Teacher, Head of Department and Head of Faculty- and who later went back on mainscale for family reasons.

Some people like to re-invent themselves once they move abroad. No-one to check or contradict them is there?

Sad really. They must be insecure.