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23-09-2023, 01:25 PM
Barclays Bank said British people living overseas would no longer be able to hold a Barclays UK current or savings account.
Following the decision, it has now written to affected customers giving them six months to react to the decision.
Wealthy expats reportedly have the option of opening a global account with Barclays, but they need to keep at least £100,000 in the account to avoid a monthly charge of £40.
The move from Barclays follows similar actions by rival banks. In 2021, Lloyds Banking Group told 13,000 expats based in Europe that their accounts in Britain would be closed.
Under the changes, people with cash ISAs and fixed-rate bonds would be able to keep their accounts if they lived in Slovakia, the Netherlands, Italy, or Estonia.
The same rule applies to loan and mortgage holders in the UK wing of the bank, but some existing home loan customers won’t be able to remortgage after the end of their current term.
https://www.express.co.uk/news/uk/181583...l-accounts
Following the decision, it has now written to affected customers giving them six months to react to the decision.
Wealthy expats reportedly have the option of opening a global account with Barclays, but they need to keep at least £100,000 in the account to avoid a monthly charge of £40.
The move from Barclays follows similar actions by rival banks. In 2021, Lloyds Banking Group told 13,000 expats based in Europe that their accounts in Britain would be closed.
Under the changes, people with cash ISAs and fixed-rate bonds would be able to keep their accounts if they lived in Slovakia, the Netherlands, Italy, or Estonia.
The same rule applies to loan and mortgage holders in the UK wing of the bank, but some existing home loan customers won’t be able to remortgage after the end of their current term.
https://www.express.co.uk/news/uk/181583...l-accounts
