UK Pension payments etc

treiziste
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UK Pension payments etc

Post by treiziste »

Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci

whyme?
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Re: UK Pension payments etc

Post by whyme? »

treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
If you're talking about state pensions, I do so it must have been easy to set up :D
My private pensions are still paid into my UK bank as it will apparently still be OK for the a/c to continue.

Polarengineer
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Re: UK Pension payments etc

Post by Polarengineer »

Have always had it sent directly to the French bank. It arrives in euros at no cost and at a good rate so I ignore the tax office request to convert the pension at their suggested rate each year. I suggest you get in touch with the pension office to arrange the transfers.
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Re: UK Pension payments etc

Post by Mangetout »

treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
Its easy peasy. Go online and download the form or give them a ring.

elsie
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Re: UK Pension payments etc

Post by elsie »

treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
I have my state pension paid directly. You just need to ask. It may even be possible to do it by phone. It was just a phone call when I changed from Credit Agricole to Boursorama.

For private pensions, I suspect it depends on your pension provider. Several have commented on here that their pension providers will only pay into a UK account (I suspect that really means a UK sortcode/account number or GB IBAN?)

I would suggest you keep your Lloyds account as you may need it in the future or for private pension payments. There are various ways of transferring to your French account. I transfer from Lloyds to Revolut, do the currency exchange in Revolut and then transfer to my Boursorama account. The last transfer took less than 10 minutes from start in a Lloyds saving account to the money appearing in my French account.

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Re: UK Pension payments etc

Post by curtis »

I would certainly not close your lloyds account. We may be obliged to but until then it is very useful to have a UK based account. In fact my company pension goes into it. State pension direct to France.
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treiziste
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Re: UK Pension payments etc

Post by treiziste »

whyme? wrote:
Fri Oct 09, 2020 12:05 pm
treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
If you're talking about state pensions, I do so it must have been easy to set up :D
My private pensions are still paid into my UK bank as it will apparently still be OK for the a/c to continue.
Yes, thanks for that but I’m under the impression both Lloyd’s and Barclays will be closing accounts from non uk residential customers ?

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rabbit
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Re: UK Pension payments etc

Post by rabbit »

treiziste wrote:
Fri Oct 09, 2020 3:51 pm
whyme? wrote:
Fri Oct 09, 2020 12:05 pm
treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
If you're talking about state pensions, I do so it must have been easy to set up :D
My private pensions are still paid into my UK bank as it will apparently still be OK for the a/c to continue.
Yes, thanks for that but I’m under the impression both Lloyd’s and Barclays will be closing accounts from non uk residential customers ?
I read yesterday that Barclays plan to set up private banking in France and Germany. If that is the case they will need a French banking license and if they have that there would be no reason for them not to offer retail banking services for U.K. accounts for French expats

treiziste
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Re: UK Pension payments etc

Post by treiziste »

rabbit wrote:
Fri Oct 09, 2020 4:08 pm
treiziste wrote:
Fri Oct 09, 2020 3:51 pm
whyme? wrote:
Fri Oct 09, 2020 12:05 pm

If you're talking about state pensions, I do so it must have been easy to set up :D
My private pensions are still paid into my UK bank as it will apparently still be OK for the a/c to continue.
Yes, thanks for that but I’m under the impression both Lloyd’s and Barclays will be closing accounts from non uk residential customers ?
I read yesterday that Barclays plan to set up private banking in France and Germany. If that is the case they will need a French banking license and if they have that there would be no reason for them not to offer retail banking services for U.K. accounts for French expats
And also talk of them setting up in the Irish Republic I believe.

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Re: UK Pension payments etc

Post by elsie »

treiziste wrote:
Fri Oct 09, 2020 3:51 pm
whyme? wrote:
Fri Oct 09, 2020 12:05 pm
treiziste wrote:
Fri Oct 09, 2020 11:51 am
Does anyone here have their UK pensions paid directly into a French account ?

If so, is it complicated to set up ?

I will be closing my Lloyd’s account before Brexit kicks in so I was wondering how easy or tricky it is to transfer the accounts to France. I already have two French accounts.

Merci
If you're talking about state pensions, I do so it must have been easy to set up :D
My private pensions are still paid into my UK bank as it will apparently still be OK for the a/c to continue.
Yes, thanks for that but I’m under the impression both Lloyd’s and Barclays will be closing accounts from non uk residential customers ?
According to https://www.bloomberg.com/news/articles ... exit-nears
Lloyds has contacted its customers in countries including the Netherlands, Germany and Portugal, noting the bank is no longer allowed to offer them services and they should seek alternative arrangements, the Sunday Times reported.

No mention of French-held accounts. Lloyds has commercial banking offices in France.

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