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

Post Reply
curtis
Posts: 2295
Joined: Thu Mar 01, 2018 11:04 pm
Location: St Jean d'Angély 17
Has thanked: 132 times
Been thanked: 580 times

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

Post by curtis »

Tom wrote:
Sun Sep 20, 2020 2:13 pm
The Sunday Times has an article today about UK banks, passporting and Brexit. Apparently the Lloyds Bank group are still prepared to allow French residents to hold accounts
That's good news. Thanks Tom.
Drive fast, attract the Police. Drive faster, attract sponsors.

Timoth
Posts: 1503
Joined: Sun Mar 04, 2018 1:15 pm
Location: Pas de Calais
Has thanked: 61 times
Been thanked: 190 times

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

Post by Timoth »

I assume that Channel Island accounts will remain as they are?

User avatar
Fitter
Posts: 3163
Joined: Thu Mar 01, 2018 7:17 pm
Location: Brittany 56
Has thanked: 60 times
Been thanked: 748 times

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

Post by Fitter »

Headers wrote:
Sun Sep 20, 2020 10:27 am
Fitter wrote:
Sun Sep 20, 2020 10:21 am
"As each of the 27 member states has a hotchpotch of different rules, it is a bureaucratic nightmare for institutions, and some are deciding simply to ditch certain countries"

More EU standardisation - Not!
And that is why the overarching eu regs work so well. And when you leave the club, you lose the benefits of them. And ‘sovereign’ rules apply.
You seem to have missed the point - if EU regs are so bountiful, wonderful and universal, why do the 27 member states/countries have "a hotchpotch of different rules?"
"It’s easier to fool people than to prove to them that they were fooled"
"You can't say A causes B if B happens first" - Thomas Sowell

Headers
Posts: 281
Joined: Sun Mar 04, 2018 9:52 am
Has thanked: 176 times
Been thanked: 74 times

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

Post by Headers »

Timoth wrote:
Sun Sep 20, 2020 3:33 pm
I assume that Channel Island accounts will remain as they are?
I am investigating this as an alternative. They seem to have all bases covered. I’m in conversation with NatWest international and will post here when I find out more.

User avatar
JohnnyD
Posts: 1762
Joined: Tue Aug 13, 2019 8:28 am
Location: U.K. / Mayenne
Has thanked: 359 times
Been thanked: 301 times

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

Post by JohnnyD »

Might also be useful looking at Monese, you can have a UKP and Euro account, no proof of address is needed I believe, just valid photo ID. I used it a lot before we got the CA account open.

https://monese.com/gb/en

JD

exile
Posts: 3738
Joined: Wed Mar 07, 2018 10:06 pm
Location: Central Massif
Has thanked: 1233 times
Been thanked: 1380 times

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

Post by exile »

When I last looked - and it was quite a long time ago, Channel Island banks linked to UK banks had very substantial bars to being used by "ordinary" people. High account fees and/or a minimum balance re two I remember - and for many the minimum balance was between £10.000 and £25.000.

Headers
Posts: 281
Joined: Sun Mar 04, 2018 9:52 am
Has thanked: 176 times
Been thanked: 74 times

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

Post by Headers »

JohnnyD wrote:
Sun Sep 20, 2020 4:25 pm
Might also be useful looking at Monese, you can have a UKP and Euro account, no proof of address is needed I believe, just valid photo ID. I used it a lot before we got the CA account open.

https://monese.com/gb/en

JD
Monese appears to be very similar to Transferwise. no FSCS protection.

Headers
Posts: 281
Joined: Sun Mar 04, 2018 9:52 am
Has thanked: 176 times
Been thanked: 74 times

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

Post by Headers »

Fitter wrote:
Sun Sep 20, 2020 3:52 pm
Headers wrote:
Sun Sep 20, 2020 10:27 am
Fitter wrote:
Sun Sep 20, 2020 10:21 am
"As each of the 27 member states has a hotchpotch of different rules, it is a bureaucratic nightmare for institutions, and some are deciding simply to ditch certain countries"

More EU standardisation - Not!
And that is why the overarching eu regs work so well. And when you leave the club, you lose the benefits of them. And ‘sovereign’ rules apply.
You seem to have missed the point - if EU regs are so bountiful, wonderful and universal, why do the 27 member states/countries have "a hotchpotch of different rules?"
I am assuming that their rules were in existence before the eu over arching reg was agreed and put in place. So they can still use their localised requirements for non-eu countries, but for eu countries there are a standard set of regs making intra eu trading much more straightforward. Non eu countries that have a trade deal with the eu would benefit from this as well. Non eu countries who do not have a trade deal with the eu would have to approach each country separately.

User avatar
JohnnyD
Posts: 1762
Joined: Tue Aug 13, 2019 8:28 am
Location: U.K. / Mayenne
Has thanked: 359 times
Been thanked: 301 times

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

Post by JohnnyD »

Headers wrote:
Sun Sep 20, 2020 4:37 pm
JohnnyD wrote:
Sun Sep 20, 2020 4:25 pm
Might also be useful looking at Monese, you can have a UKP and Euro account, no proof of address is needed I believe, just valid photo ID. I used it a lot before we got the CA account open.

https://monese.com/gb/en

JD
Monese appears to be very similar to Transferwise. no FSCS protection.
But if we are mainly looking for a way for pensions to be paid into a U.K. account and sort code then transferred to a euro account, is FSCS protection required? Once paid into the U.K. account, transfer to euros and out again.

JD

Edit.....also these new fintech accounts give much better rates than the big 3 banks for UKP to euro transfer.

JD

User avatar
Fitter
Posts: 3163
Joined: Thu Mar 01, 2018 7:17 pm
Location: Brittany 56
Has thanked: 60 times
Been thanked: 748 times

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

Post by Fitter »

Headers wrote:
Sun Sep 20, 2020 4:42 pm
Fitter wrote:
Sun Sep 20, 2020 3:52 pm
Headers wrote:
Sun Sep 20, 2020 10:27 am


And that is why the overarching eu regs work so well. And when you leave the club, you lose the benefits of them. And ‘sovereign’ rules apply.
You seem to have missed the point - if EU regs are so bountiful, wonderful and universal, why do the 27 member states/countries have "a hotchpotch of different rules?"
I am assuming that their rules were in existence before the eu over arching reg was agreed and put in place. So they can still use their localised requirements for non-eu countries, but for eu countries there are a standard set of regs making intra eu trading much more straightforward. Non eu countries that have a trade deal with the eu would benefit from this as well. Non eu countries who do not have a trade deal with the eu would have to approach each country separately.
But a trade deal doesn't include banking or access to a market for a bank ASFAIK.
It seems to rest on whether a particular bank has got off their a**e and has taken the trouble and paid the money to have a presence in any EU country with the associated license for that country which qualifies them to be able to operate in any EU country.
"It’s easier to fool people than to prove to them that they were fooled"
"You can't say A causes B if B happens first" - Thomas Sowell

Post Reply