U.K. Bank accounts after 31/12/2020

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JohnnyD
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Re: U.K. Bank accounts after 31/12/2020

Post by JohnnyD »

Headers wrote:
Fri Oct 02, 2020 9:03 pm
JohnnyD wrote:
Fri Oct 02, 2020 2:44 pm
Headers wrote:
Fri Oct 02, 2020 1:45 pm
I have been investigating various alternatives. Today’s was NatWest International based on Jersey. They have an operating licence for most of the eu countries but not all. They have criteria for an account. The minimum deposit of 5000 was much lower than I thought it would be. They have banking protection like in the U.K. 85k limit.
They offer online, cheques and paying in facilities.

They are being inundated with requests for info at the moment.

I now need to check if our pension providers will pay into a jersey based sterling account.

They recognise the use of transferwise for moving from one currency to another.
Is this the Select Account on the natwestinternational site? I can't see where it says mon £5000 anywhere?



JD
I went through the criteria with NatWest International Jersey today. 5k held in the bank account is one of their qualifying criteria. Apparently It has very recently been reduced from 25k. Did they see this coming?
I have applied today for a joint account, seem to have got past the first post, just waiting on verification and acceptance now. Cant hurt to have one I think, don't trust these English bar stewards.....

JD

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Re: U.K. Bank accounts after 31/12/2020

Post by Fitter »

"don't trust these English bar stewards....."

So you are going to trust 100,000 alcoholics clinging to a rock in the English Channel instead?
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JohnnyD
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Re: U.K. Bank accounts after 31/12/2020

Post by JohnnyD »

Fitter wrote:
Fri Oct 02, 2020 11:31 pm
"don't trust these English bar stewards....."

So you are going to trust 100,000 alcoholics clinging to a rock in the English Channel instead?
:good:

JD

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Re: U.K. Bank accounts after 31/12/2020

Post by Leclairon »

I also wrote to NatWest and received a circular type reply, with 5 typos, telling me that there would be no change during the transition period, completely ignoring my question, which concerned the period after 31 December.

The following day I received another letter saying "thanks for your request to close the above account" - "we'd like to help with that, however, you've not told us how you'd like to receive your closing balance" (sic).

I had done no such thing. I had simply asked for clarification after 31 December.
I have no confidence in NatWest at all.

It looks as if only HSBC seems clear they are allowing accounts for EU residents. However, I don't think the info given to me over the phone about getting £125 bonus just for changing is correct, even though I challenged him on whether it was available to a non-resident,which makes me wonder if the info on allowing accounts will change.

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Re: U.K. Bank accounts after 31/12/2020

Post by Tom »

The banks are just as much in the dark as any of us and many are preparing for the worst case scenario.
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Re: U.K. Bank accounts after 31/12/2020

Post by exile »

It looks as if those of us who live in France and bank with Barclays should be OK

https://www.msn.com/en-gb/money/compani ... d=msedgntp

If they have the licences for private banking in France there should be no problem with us retaining our UK accounts.

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Re: U.K. Bank accounts after 31/12/2020

Post by Leclairon »

Any follow up from anyone? Does anyone know how much notice they are supposed to give you to close the account and what happens to funds therein if you haven't moved it by that date? NatWest just ignore the question every time I ask. Lloyds, I think, are staying open for French residents but they told me they would give a month's notice if it came to that.

I was interested in the offshore NatWest Account - although I am anti NatWest. I am thinking HSBC must be the answers. Any more info on where others are moving to?

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Re: U.K. Bank accounts after 31/12/2020

Post by JohnnyD »

From what I have heard and read, people with UK Barclays and Standard NW accounts should be OK, can't speak for any of the others, NW international have upped the £5000 deposit required to £25000 because of the number of applications, cause thats what banks do.......make money from you and care very little about you

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Re: U.K. Bank accounts after 31/12/2020

Post by manonthemoon2 »

We're with NatWest and haven't heard anything about us having to close our accounts yet. I live in fear we will :evil:

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Re: U.K. Bank accounts after 31/12/2020

Post by Mrs Archy »

This refers to investment accounts so maybe an ordinary current account will be OK - who knows?

https://www.connexionfrance.com/French- ... -358065585
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