British Ex-Pat Bank Accounts to be CLOSED

Reply to the comment left by Neil Patterson at 16/10/2020 – 12:17
But of course everyone who voted for Brexit knew what they were voting for! I really do not understand any complains here!
there is another Brexit news, undoubtedly carefully considered before voting (that is if anyone bothered to read ‘Project Fear’): https://www.abpi.org.uk/media-centre/news/2020/september/last-ditch-attempt-to-secure-bare-minimum-deal-on-medicines-mps-told/
And a large number of EU tenants are giving notice and move out of this country… this is what I hear from fellow landlords….

Reply to the comment left by CazT at 19/10/2020 – 10:38
Hi CazT – I spoke to Transferwise recently and they said that having a Transferwise GB£ account should be OK. Let’s hope they’re right.

What is the bigger picture in this action? Why would the banks want to lose our custom? Your bank balances are their collateral. Why, when money is supposedly so tight, would they want to drop that collateral? Why would the banks care whether you are ex-pat or not? To them it is just money. They also extort high rates from you on FX.

Is it so that a very high number of ex-pats actually own property in the UK that they are renting out? Therefore is it just another attack on the PRS? To make you sell up in to the extortionate 45% CGT?

What gain would the government have on preventing you to have a UK account while living abroad? I smell a rat.

We know that the EU are bringing in the CBDC next year (look it up). The UK will probably bring theirs in sometime later. The US has already said they are getting it close. The Chinese are already using it.

Once you are locked out of transacting in the usual manner, you will be forced into adopting the CBDC.

Has anyone heard the words “economic reset” yet. The WEF and IMF are all up for it. Prince Charles is trying to make it look “charitable” (pathetic).

There are tons of videos on Central Bank Digital Currencies on YT. I suggest you start doing some research, and consider your options.

If you can not transact independently of the state, they make you their “host”.

Are you getting used to those masks now?

Reply to the comment left by Question Everything at 19/10/2020 – 13:03
It’s not just a question of banks losing collateral. It’s also about tax.

I’m not actually aware of any law that would prevent you from renting through a UK-based agent and having your rental money paid into a Paypal account or Stripe account; in the end you then just transfer that money into an account wherever you happen to be based and declare the revenues there for tax purposes.

If the UK government does not encourage revenues from activities in UK to be booked in UK banks then all that will happen is that UK tax revenues will haemorrhage into countries like Ireland (where Stripe is based). From memory Paypal is based in Singapore. But typically if the UK government makes it harder to book revenues in UK it’s likely that UK tax revenues will be lost and end up in Ireland.

Reply to the comment left by Question Everything at 19/10/2020 – 13:03
If there’s ‘no deal’ at the end of the year, and also no agreement on passporting rights for financial services, then presumably this adds to the problem of bank accounts.