First actual problem re:Brexit

Information and questions about the Law in Spain and Andalucia.
elusive
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Re: First actual problem re:Brexit

Postby elusive » Tue Dec 29, 2020 9:57 pm

However if I call up Santander UK or Natwest UK neither of these will let me open an account in EUR, GBP or any other currency.
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Unless ifs changed recently since i last looked santander and many high street banks offer basic non uk resident bank accounts .took them years to start doing it after been told their refusals were against E.U law. Kinda ironic now!

Paddy Pumpkin
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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Tue Dec 29, 2020 10:07 pm

elusive wrote: Tue Dec 29, 2020 9:57 pm However if I call up Santander UK or Natwest UK neither of these will let me open an account in EUR, GBP or any other currency.
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Unless ifs changed recently since i last looked santander and many high street banks offer basic non uk resident bank accounts .took them years to start doing it after been told their refusals were against E.U law. Kinda ironic now!
It has changed recently...someone posted about the update from Santander above? Who was it??? :wave:

The basic EU residents accounts are also being withdrawn. Look at Natwest website they even say now you have the right to open the account (whilst still in the EU) but if the account opening process doesn't get finished before transition period ends then the account won't be opened.

elusive
Andalucia Guru
Posts: 2528
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Location: East of Malaga

Re: First actual problem re:Brexit

Postby elusive » Tue Dec 29, 2020 10:14 pm

Yes i posted the update but didnt directly look to see if it included the non resident accounts. Logically the updated t&c's would be for non residents wanting to open explicitly accounts for uk nationals.

Beachcomber
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Re: First actual problem re:Brexit

Postby Beachcomber » Sat Jan 09, 2021 7:47 pm

This BBC Money Box programme may be of interest:

https://www.bbc.co.uk/sounds/play/m000r33k

Paddy Pumpkin
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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Fri Jan 15, 2021 8:40 am

Thanks I had a listen. My takeaway....Banks are just using this as a cover story to get rid of customers.

There is an interview with Professor Sarah Hall (I read her profile online, if she doesn't know then nobody does), she comes to the conclusion...call HSBC they will open an account for you.

So basically legally HSBC are not restrained so why are others, so therefore it can only be a commercial decision now that Brexit has made the cost of business increase for the banks. So banks make the logical decision to either pass the cost on to the customer or stop doing business. Tough to argue with that


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