Another Brexit "benefit"

Ellianne
Thank you very much for your kind offer, . I will keep it in mind.

I have seen several reports from people today about actually calling their bank and being told there are no plans to do anything to current accounts. It seems it is also to do with the arrangement the bank has with various countries.
Lloyd’s group listed EU countries it was pulling cards from and France and Spain were not on the list - six countries were listed.

mokryna

Ellianne
As I can’t get to England no money is being spent, except for taxes.

I'll willingly get some shopping for you and post it mokryna. I'm very knowledgeable on Bond Street or the King's Road. Just hand me the credit card.

Ellianne
As I can’t get to England no money is being spent, except for taxes.

Urmstongran

Was that a recent update from HSBC mokryna?

Yes, this was on its site yesterday afternoon. However, a few minutes beforehand I had spoken to one of their staff, who was unaware of this information.

I see HSBC shares fell to a 25 yr low after the revelations on the panarama programme. They've been naughty boys again!!

Was that a recent update from HSBC mokryna?

Yes mokryna, as we discussed a few pages back HSBC is looking hopeful. I picked up a tip .... try to keep as large amount as you can with your UK bank. If it comes to the crunch they favour their more wealthy customers!!

Oh! I seems I am getting my knickers in a twist over nothing?
Ignored phone call and searched on line This is what is written in black and white.

I am a UK citizen living in the EU; will I still be able to keep my HSBC UK Bank Account after Brexit?

Yes, your HSBC UK Bank Account will remain open providing that it is used at least once every 12 months. If there’s no activity, the account will go dormant. This means that it will be frozen, and you’ll need to pass some security checks to reactive it as you would today. ?

I have phoned my English bank and asked them what their plans were, for in the future regarding a no deal Brexit. I was told that there was no papers dealing with this in my file. And of conversation.
I realize that I can get my pension put into my French bank but the stirring exchange rate is the big problem. It just looks as if I’ll just have to keep my fingers crossed

Oh yes, we get those too ;) lol

Interesting. We don't get a form from the bank though we do get them from our pension providers to prove we are still alive. The bank sends all written communication here, though there isn't much of that these days.

mokryna

If the bank insists a UK address, could I put my daughter’s, or would that be definitely illegal as I would not be resident.?

Ahem, yes definitely possible in the past , but I'm guessing the checks will be stricter these days.

Welshwife, from next year, not an address abroad- that is the whole point.

We get a letter every year from both our banks, to fill in a form to prove that we are residents abroad. We have to fill it in, and get our Commune (Local Council) to sign to confirm. This to avoid money laundering.

The UK tax is deducted at source first obviously.

sodapop it is a long time ago but I was told by my provider that my LGPS pension could be paid into a French account if I wanted it.

If you already have a bank account they are likely to just accept a change of address. I do most of my banking online so would hope to keep it the same.

Yes I'm pretty sure that's not allowed mokryna in any case I think you have to produce utility bills in your name.
State pension can be paid directly into a French or Spanish bank account Urmstongran but not an NHS one or local government. ( not entirely sure about the latter)

If the bank insists a UK address, could I put my daughter’s, or would that be definitely illegal as I would not be resident.?

My neighbour who is resident in Spain has her UK pension paid into the Sabadell bank in Spain. It means that her 4 weekly pension isn’t always a fixed amount owing to any slight fluctuations in the exchange rate but she’s happy to accept that is what it is (for her).

Before we moved full time to France we asked the three banks we used for various purposes about our position re the accounts and only having an address in the EU - all three of them said it was fine - and indeed we have continued to keep these accounts. You cannot however ask for a card on those accounts if you do not already have one - those will be replaced as necessary. You do not seem to be able to open a U.K. account when living in another country.
We have also had a French bank account for over twenty years as that was necessary to pay bills etc.

This was spelled out before the fraudulent referendum but labelled "project fear".

The EU isn't being intransigent on banking. The UK has known all along what the position is with financial services and was warned. That's why some of the banks have set up separate companies in the EU and some have already taken some of their business out of London to other centres, such as Frankfurt. Financial services were never part of a trade deal. The UK is very vulnerable because so much of our GDP and trade balance is in financial services. The EU doesn't owe the UK any favours and we won't be getting them.

LauraNorder

We lived in France from 2013 to 2017. Had a Santander account, used that card in the UK and had statements delivered to our French address as that was our permanent residence. We had a French account with Banque Populaire and used that card for purchases in France.
Having a French address was not a problem for Santander in the UK, can I suggest poster talks to them.

In order to have a sterling bank account one must have a residential address in the UK. Santander states this quite clearly on it's website.

Most of us living abroad are sensible enough to have an account in the country in which we live. The point is that most of us that are retired have pensions paid in England and use English bank accounts for that reason.

Similarly most EU citizens who live in the UK will have sterling accounts and probably kept their accounts in their native country.

I think that we are aware that British banks will have branches in EU countries but that doesn't solve the problem.

The health benefits are reciprocal agreements with two countries as each EU country has a different system.