First actual problem re:Brexit

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Lavanda
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First actual problem re:Brexit

Postby Lavanda » Tue Sep 15, 2020 3:54 pm

I got an e-mail several days ago from BarclayCard. They have been my only credit card for the last 20 years. They knew I had moved to Spain 15 years ago and simply sent monthly statements to my address in Spain. The reason for a Sterling credit card is that I have three pensions paid into my British bank account every month and I pay tax on these in England. When I buy bus, train, plane and other tickets and book hotels I use my BarclayCard in Sterling and pay my balance from my British account all in Sterling. It has worked well and legally all these years.

Now, BarclayCard tells me that unless I can give them a British address at which I am resident they will stop my account in November. New fiscal rules and regulations relating to the post-Brexit world.

I have tried to apply for a credit card linked to my British bank but they also say I must be resident in the UK. They, too, know I live in Spain.

Any ideas of what I can do? I do not want to transfer money every month from the UK to Spain and then pay taxes and retransfer money. Ditto buying things on-line. If all else fails and I have to do that, can anyone recommend a good Spanish credit card to be used for internet transactions?

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Wicksey
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Re: First actual problem re:Brexit

Postby Wicksey » Tue Sep 15, 2020 4:04 pm

Do you have a have a British credit card, rather than just use your UK bank's debit card to pay for things in sterling? It seems that all Visa/Mastercard bank debit cards are protected for goods not received etc and claiming a repayment. (I have just successfully claimed and received a refund of my cruise deposit paid by debit card as the company has gone into administration.) The address for my UK bank is here and I have a debit card OK. Failing that you'd have to use a relation/friend's UK address for your Barclaycard which I know many of us do.

Not sure what you meant about transferring money here and paying taxes? Apart from civil service pensions which are declared here but not taxed, and annuities which have a large discount applied to them, as a resident don't you have to declare and pay tax in Spain on other pensions received?

Lavanda
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Re: First actual problem re:Brexit

Postby Lavanda » Tue Sep 15, 2020 4:29 pm

The three pension are civil service ones. I pay tax on those in the UK and tax on the rest of my income here BUT since about two years ago I declare what I am paying in the UK to the Spanish tax people as that is now a requirement.

Debit cards? Never ever though of that. I need an actual credit card to hire a car in the UK, though, don't I? Debit cards are not the same.

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Wicksey
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Re: First actual problem re:Brexit

Postby Wicksey » Tue Sep 15, 2020 4:45 pm

My gestoria does our returns but our civil service pensions seem to be shown somewhere on the Spanish tax return but are not counted as taxable income as such. (We don't earn enough to pay tax on our income here or there, but I do declare them on a UK tax return as well which we have to do as foreign landlords.)

That aside, yes you would need a credit card for car hire but then that could be a Spanish one. Otherwise, the only way of getting around it is to put it in someone else's UK address I think. If Barclaycard and your UK bank are now saying that you cannot have a UK credit card living abroad, it seems the only option if you want to retain it. You can always go paperless and check your monthly statements online and set up a direct debit to clear the balance each month. We have expenses to pay in the UK so use our debit card for anything else that needs paying in sterling or for buying things from Amazon etc that are in pounds.

Lavanda
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Re: First actual problem re:Brexit

Postby Lavanda » Tue Sep 15, 2020 4:50 pm

Some good ideas, there, thanks. I know it sounds ridiculous but things have hummed along so nicely for years I am a bit out-of-touch with alternatives.

olive
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Re: First actual problem re:Brexit

Postby olive » Tue Sep 15, 2020 5:58 pm

Thin article on Barclay credit cards on olive press.

You would wonder what will actually different after Jan 1st. Maybe less easy to chase debtors.?

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Re: First actual problem re:Brexit

Postby katy » Tue Sep 15, 2020 6:03 pm

There seems to be a big shake up amongst the banks right now. Oh went online to check his accounts a few days ago to find that his Visa Credit card a/c had changed to MasterCard and his direct debit to Visa cancelled! A call revealed they are going over to MasterCard and a new card should arrive shortly. I didn’t realise they could cancel your direct debits. Meanwhile he can continue to use his Visa.
I am not sure why Barclay’s are doing this, are other banks doing it? I have a credit card withan American bank with no problem.

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costakid
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Re: First actual problem re:Brexit

Postby costakid » Tue Sep 15, 2020 6:16 pm

Do you not have family or friends in the uk? If you have transfer your billing address to there’s.

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costakid
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Re: First actual problem re:Brexit

Postby costakid » Tue Sep 15, 2020 6:18 pm

Barclays have been disposing of their Spanish interests for some years now. Obviously they do not want the Spanish business.

Lavanda
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Re: First actual problem re:Brexit

Postby Lavanda » Tue Sep 15, 2020 6:57 pm

I could use a family member's address but is that not illegal? Should my card get stolen or misused I may not have a leg to stand on in claiming back my losses. How many people do use false addresses?

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gerryh
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Re: First actual problem re:Brexit

Postby gerryh » Tue Sep 15, 2020 7:22 pm

Don't know if this will help but we have Barclays (UK) debit cards. My wife's OAP gets paid into Barclays (UK) bank.
Use it for whenever need a sterling transaction.
I have a Spanish credit card, from my Spanish bank, for when I need a credit card payment such as hiring in car in UK or elsewhere.
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Gerry
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elusive
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Re: First actual problem re:Brexit

Postby elusive » Tue Sep 15, 2020 9:49 pm

https://www.google.co.uk/amp/s/www.tele ... rexit/amp/

Anyone have access to the telegraph article above on Lloyds closing accounts as its behind a paywall. Cant see any other articles.on google about it

Lloyds are closing accounts with non uk adresses in November aswell. I have one but it has vertually nothing in it and is kept for the future nothing else. But yet another worry if others follow,as they tend to do as pensions and rents get paid into uk accounts plus savings accounts.hacienda will love uk money suddenly turning up in spanish accounts
Last edited by elusive on Wed Sep 16, 2020 8:08 am, edited 3 times in total.

Johnandali
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Re: First actual problem re:Brexit

Postby Johnandali » Tue Sep 15, 2020 10:02 pm

Don’t know if this will help - when I left the UK last year to live in Spain full time I set up a Revolut Account.This works really well - set up as a GBP and Euro account. My UK pension is paid into it every month and I can then transfer to my Spanish bank account when exchange rates are favourable.

Card can be used in shops etc for debit payments in local currency again at favourable exchange rates - recently used in Thailand and Singapore with no issues.

This gets round the no UK bank account issue for me.

elusive
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Re: First actual problem re:Brexit

Postby elusive » Tue Sep 15, 2020 10:06 pm

Do you exchange money directly from revolut to your spanish account with no charges or via an exchange company

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Re: First actual problem re:Brexit

Postby Johnandali » Tue Sep 15, 2020 10:27 pm

I simply exchange from GBP to EUR within my account at the interbank rate and then transfer to my Spanish Bank Account.

I actually used it to buy a car which saved me money.

Money arrives same day - sometimes within minutes.

You are only charged a fee if you exchange at weekend or in evenings when money markets are closed so as long as you do during normal working hours a simple and effective solution.

I really rate solution - I initially set up on my UK mobile when I moved to Spain and got my local mobile number account move took seconds and was trouble free. My wife and I both have Revolut.

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Re: First actual problem re:Brexit

Postby maureenscot » Tue Sep 15, 2020 11:39 pm

I use my British Debit card to hire cars in UK. I don't have a credit card. But some Spanish car hire places will only take Credit cards. I have winged it a few times when they haven't seemed to notice. Is this because it is easier to block money on a credit card? I also use my debit card for booking hotels, flights etc as there are no fees with a debit card

elusive
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Re: First actual problem re:Brexit

Postby elusive » Wed Sep 16, 2020 8:04 am

I presume they cant block x amount of money on a debit card it comes out straight away then would need to be refunded. Out of intrest which companies in the uk allow you to use a debit card for car hire

Thanks john. Something to look into.

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Re: First actual problem re:Brexit

Postby Beachcomber » Wed Sep 16, 2020 8:44 am

If the closure of all UK accounts becomes a reality opening an account with Barclays International in the Isle of Man may be a solution although you need to maintain a balance of at least £25,000 in order to qualify for free banking.

Spanish residents who may be looking for a home for amounts in excess of the equivalent of €50.000 and who have not submitted a Spanish asset declaration will have a particular problem because if they transfer it to their Spanish bank AEAT will be on to them in a flash even if the bank allows them to do it.

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Wicksey
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Re: First actual problem re:Brexit

Postby Wicksey » Wed Sep 16, 2020 9:57 am

I have a Transferwise account that in theory I could get my pension paid into. I have a debit card with them which I've used a few times. Their fees are tiny compared to a bank for transferring pounds to euros and like Johnandali, I saved a huge amount using them to buy a car here. The only thing I am cautious about is that it is not a bank and doesn't protect your money in the case of the company going under like money in your bank would be (85k GBP I think). I don't tend to hold much money in that account just in case, but it is somewhere you can use to have pensions paid into if you're not going to mount up a huge sum.

On the subject of using debit cards for hiring cars, it's not something I have come across. The Ts&Cs of the places I use all say that you cannot hire a car without a credit card.

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Re: First actual problem re:Brexit

Postby Beachcomber » Wed Sep 16, 2020 10:23 am

I don't know when this article was last updated but the information contained therein seems to be at odds with what we are hearing from other sources:

https://www.barclays.co.uk/brexit/

I have just logged in to both my Barclays UK account and my Barclays International account and there are no messages or further information on the possibility of account closures or card cancellation.


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