First actual problem re:Brexit

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Beachcomber
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Re: First actual problem re:Brexit

Postby Beachcomber » Wed Dec 02, 2020 12:51 pm

Many thanks.

Lavanda
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Re: First actual problem re:Brexit

Postby Lavanda » Wed Dec 02, 2020 1:02 pm

It's a good link but the fact that Nationwide are stopping their services to two EU countries makes me a bit nervous ...

jonbar.1
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Re: First actual problem re:Brexit

Postby jonbar.1 » Wed Dec 02, 2020 1:19 pm

I agree.
We use Nationwide
Have phoned them: they say they know nothing!
Fortunately,after a few phone calls; I realiize that our 2
state pensions can be paid into our Spanish bank.My company pension can be paid in via international transfer( 2.50€ per time).
Haven't checked my wife's yet

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Re: First actual problem re:Brexit

Postby Lavanda » Wed Dec 02, 2020 1:23 pm

Yes. My Teachers' Pensions are now paid directly into the Banco Santander with a tiny fee per transaction and the exchange rate at whatever the rate is on the day. It seems to go like clockwork and was easy to arrange.

katy
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Re: First actual problem re:Brexit

Postby katy » Thu Dec 03, 2020 8:32 pm

Whooshed!
Last edited by katy on Thu Dec 03, 2020 9:45 pm, edited 1 time in total.

Free at Last
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Re: First actual problem re:Brexit

Postby Free at Last » Thu Dec 03, 2020 8:40 pm

I well remember during the referendum campaign raising the possibility of payments becoming more expensive and slower as a result of Brexit, and being told it was nonsense and scaremongering by people who supported the Leave campaign.

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Re: First actual problem re:Brexit

Postby katy » Thu Dec 03, 2020 8:45 pm

Well I am still happy we are leaving, a small price to pay.
Last edited by katy on Thu Dec 03, 2020 9:46 pm, edited 1 time in total.

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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Thu Dec 03, 2020 9:13 pm

katy wrote: Thu Dec 03, 2020 8:45 pm Well I am still happy we are leaving, a small price to pay. Sure it will all get sorted,will hit those EU exporters the same. Manage ok with my USA bank account and OH's one in Geneva. Not actually been hunky dory anyway when a bankers draft takes 6 weeks plus to clear!
UK exports 48% of all it's exports to the EU (8% of GDP)...Germany to UK is only 2% of GDP. That doesn't sound quite like it will hurt the EU exporters quite the same. BTW if you are using U.S. and Swiss accounts whilst still passing bankers drafts I would suggest you never really took advantage of the savings that EU wide free banking offered. Free instant transfers and zero spread FX being just two that you are missing out on with your present banking arrangements.

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Re: First actual problem re:Brexit

Postby katy » Thu Dec 03, 2020 9:43 pm

Not even bothering to answer this. I was referring to the time taken to clear them. As for the other usual s*ite :silent:
I put the Barclays on for info not to discuss Brexit. Deleting it now.

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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Thu Dec 03, 2020 10:12 pm

So you edited your post to make mine appear out of context.

You brought up Brexit by declaring you are happy the 'we' are leaving and that EU exporters to the UK would be hit the same as UK exporters. A few facts pointing it was not true and you edited your comment and try to change the narrative.

Btw I was also referring to the time it took to 'clear them' By that I presume you mean the bankers drafts you spoke about. I just pointed out that you never embraced what the EU had to offer. Instant international free transfers versus a bankers drafts. Well you will now be able to enjoy the same after Brexit whilst the rest of us will likely have to revert to slow and expensive SWIFT transfers. No to mention the zero spread FX that you don't take advantage of. Thank you Brexit.

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Re: First actual problem re:Brexit

Postby markwilding » Fri Dec 04, 2020 1:36 am

We are now having to deal with the fallout of Brexit. It doesn't matter whether someone voted for or against, the problems being thrown up are real and expats living throughout Spain and the EU are having to suffer the consequences of the decision to leave. It might not be a problem felt by the majority of British people back in the UK but that is irrelevant to us in Spain as we wade through the mire that has been put on us.

Trivial the problems might seem be for to people who won't have to suffer them, but they are not for those who might have to go up against them and I'm not sure where else these issues should be discussed other than a Forum dedicated to people living and spending time in Andalucía and Spain

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Re: First actual problem re:Brexit

Postby katy » Fri Dec 04, 2020 8:06 am

Mark, the paste job I deleted from Barclays concerned anyone sending money to Spain from uk. Not just those who live there. When it was followed by reference to leavers and referendum and another anti brexit lie I decided to give up. Going into stuff that happened 4 years ago is not helpful to anyone, not what this thread was about.

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Re: First actual problem re:Brexit

Postby Lavanda » Fri Dec 04, 2020 8:10 am

That made me laugh, Katy. I have just abandoned a thread on a page somewhere else because, clearly, some people never bother to read what others have posted and just keep asking the same questions. Sometimes life's too short.

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Re: First actual problem re:Brexit

Postby elusive » Fri Dec 04, 2020 10:03 am

Trivial the problems might seem be for to people who won't have to suffer them, but they are not for those who might have to go up against them and I'm not sure where else these issues should be discussed other than a Forum dedicated to people living and spending time in Andalucía and Spain.
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Well said. There maybe great implications for those who need a uk bank account yet are completely clueless and illiterate when it comes to the world of "banks"like revoult/transferwise etc. My older relatives certainly are and if their accounts were closed it would prob be the straw that broke the camels back for them.

Its ironic that under E.U law its illegal to charge to send pensions to another E.U countries bank. Not that it stopped U.K banks from doing it pre brexit.
Last edited by elusive on Fri Dec 04, 2020 12:43 pm, edited 1 time in total.

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Re: First actual problem re:Brexit

Postby alpineSi » Fri Dec 04, 2020 10:22 am

It's interesting how the low countries appear so often on those account closing lists, I wonder if it's exceptionally hard to get banking licences there or is the client base just so miniscule it isn't worth it (presumably all the posted diplomats etc retain UK addresses, so this doesn't concern them).

I'm with Starling and have a GB IBAN for a Euro account so still waiting to find out what will happen to it. There's been no change to another country code yet. I suspect it will stay GB (clearly the IBAN system will still be valid when we lose SEPA conveniences) but there will be transaction fees and delays come January. I'll post when they let us know.

Must say I'm disappointed to see a poster casually calling things that they disagree with a "lie". There was a time you had to prove accusations. Sadly, I suspect when Brexit turns the clock back it will somehow miss things like that.

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Re: First actual problem re:Brexit

Postby Wicksey » Fri Dec 04, 2020 10:52 am

alpineSi wrote: Fri Dec 04, 2020 10:22 am It's interesting how the low countries appear so often on those account closing lists, I wonder if it's exceptionally hard to get banking licences there or is the client base just so miniscule it isn't worth it (presumably all the posted diplomats etc retain UK addresses, so this doesn't concern them).
I wondered that too. Nationwide are currently closing off Netherlands and Italy, but I'm hoping there's so many of us here they may decide to do whatever is necessary to maintain our accounts. I would have thought Spain and France had the most expats in the EU.

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Re: First actual problem re:Brexit

Postby Lavanda » Fri Dec 04, 2020 11:23 am

One of my nephews is a medium cheese at Nationwide HQ and he says they are monitoring the situation and making decisions on individual countries as and when they have to do that. They do not want to lose potentially tens of thousands of accounts with regular money flowing in and out and savings accounts plump with retired people's funds. Quite!

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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Fri Dec 04, 2020 11:55 am

One thing confuses me in this drive for UK banks to drop EU customers. Why is it illegal to have EU customers?

I am a retired banker and cannot find a reason why they are doing it. I asked the banks directly and they just reply with a bland copy and paste that doesn't actually answer the question.

I lived in the UK and have UK bank accounts and credit cards. I then moved to Australia and various Asian countries. Each time I told the UK bank my new address. The UK banks didn't have a licence to operate in most of the countries I lived in. I encountered no problems and still retain the accounts to this day. The only ones who made a fuss were Barclaycard (not Barclays)..so I used my UK address..and still do for them only.

Whilst living in Asia I opened bank accounts in 4 EU countries using my address in Asia, to save for retirement in Spain (not any Spanish banks though...the bureaucracy would push anyone over the edge). Most of the banks I used didn't have licences in the country I lived.

On my travels I also opened local bank accounts with Asian banks for day to day expenses whilst living there. I still retain accounts and have updated to my Spanish address. So these non EU banks don't have an EU licence either (much like the UK banks come January).

So in summary UK banks didn't have a problem letting me have an account in a country where they didn't have a licence to operate. Non EU banks who don't have an EU licence also don't have a problem with me living in the EU. This is the status that most UK banks will have come January ....so why are they closing the accounts? I cannot see the legal reason for closing the accounts.

P.s. the banks don't charge me for having the accounts so I see no reason to close them. All of the banks I hold accounts with ask for CRS and TIN so they report the account back to Spain and everything is on my 720.

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Re: First actual problem re:Brexit

Postby Paddy Pumpkin » Fri Dec 04, 2020 12:06 pm

katy wrote: Fri Dec 04, 2020 8:06 am Mark, the paste job I deleted from Barclays concerned anyone sending money to Spain from uk. Not just those who live there. When it was followed by reference to leavers and referendum and another anti brexit lie I decided to give up. Going into stuff that happened 4 years ago is not helpful to anyone, not what this thread was about.
Where did I reference leavers and the referendum? You were the person who brought up opinions about Brexit ....but then edited your comment to exclude it. I simply gave some facts that contradicted your assertion. I know it seems kind of cool now with Donald and Boris to just sprout words with no facts behind them and are often found out to be completely untrue.

Here is the source of my 'anti brexit lie'...the House of Common library!
https://commonslibrary.parliament.uk/re ... /cbp-7851/
I guess it must be fake news?

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Re: First actual problem re:Brexit

Postby Free at Last » Fri Dec 04, 2020 12:15 pm

I rather think she was referring to my post, not yours. I said that during the referendum campaign I had pointed out that bank transfer payments were likely to become more expensive and slower as a result of Brexit. I did say that - so that wasn't a lie.

I said that people who supported the Leave Campaign had told me that was nonsense and scaremongering. They did say that - so that wasn't a lie either.

The information Katy posted from Barclays clearly said that they were making a change to their terms and conditions because they could not guarantee how banks in the EEA would treat payments from the UK after 1st January 2020 - so it isn't a lie to say that they are doing so as a consequence of Brexit.

So where is the lie, Katy?


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