From MoneySavingsExperts '
At least 10 banks, building societies and credit card firms have now decided to close accounts held by Brits living abroad in Europe as a result of Brexit, MoneySavingExpert.com has found – with Nationwide and Co-op Bank among the latest to announce closures. We've full info below on what banks are doing, plus help on what to do if you're affected.
We first asked banks in September whether they planned to close accounts for customers living in the European Economic Area (EEA) – which is the European Union plus Iceland, Liechtenstein and Norway. At the time, just five told us they had plans to do so, but two months down the line, more have followed suit, while others are continuing to monitor the situation and haven't ruled out closing accounts in future.
See our table below, showing the latest on who's doing what. If your account is closed, you may still be able to open another with a different UK bank or with a bank in the country you're in instead. We've more help below – for info on how else Brexit will affect your finances and consumer rights, see our 21 Brexit need-to-knows.
Which banks are closing expat accounts?
We've rounded up below the latest info from all the major banks, plus some smaller players such as Cynergy and Danske Bank that have now confirmed they're closing accounts.
We don't know how many expats will be affected by the closures, though Lloyds, Halifax and Bank of Scotland said in September they planned to close 13,000 accounts in total. As other banks to announce closures haven't given figures, it's likely the total number affected will be significantly higher, and 100,000s of Brits are known to currently live in Europe.'