11:40 AM, 16th October 2020, About A year 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.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Next ArticleHow to prepare for the 2021 Property Market Crash
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|