11:40 AM, 16th October 2020, About 10 months ago 59
Hundreds of thousands of British Ex-Pats living in the EU will have received a shock letter in the last few days.
Customers of Nat-West, Coutts, RBS, Barclays, Bank of Scotland and Halifax are among the list of those affected. Their bank accounts will be closed by the end of this year, in some case much earlier. Cheques and credit/debit cards will be cancelled, payments into the accounts will be returned “account closed” and Direct Debits and all other payment requests will be treated in the same way. Customers of these Banks will receive a cheque for any money in their accounts, and it’s their problem what to do next.
Many of the affected Ex-Pats are retired and are now left wondering how they will receive their pension income.
Ex-Pat landlords are left wondering what they are to do too. Will their tenants pay the International Bank Transfer fees to pay their rent into an offshore bank account? Will landlords be able to set up Direct Debits from an overseas bank account to make their mortgage payments?
Are you affected by this? If so, please share your thoughts below and solutions you have looked into.
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