Halifax basic account term and conditions change - brexit

mwarby
mwarby Posts: 2,048 Forumite
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in Budgeting & bank accounts
Just got through yet another terms and conditions changes mail from Halifax(second this year). The changes don't affect me as I'm no longer a customer but had a glance anyway

so under 'basic account' they have 'changes to basic account terms and conditions'. it says

We may decide to close your account if we become aware that you have:
4 other reasons (another account, mislead them, not used account, acted unlawfully or abusively towards staff)
Left the EU or reside in a state that is no longer part of the EU

From the above it looks like without another terms and conditions change they can close the accounts due to brexit. Seems a rather silly term to introduce so close to a referendum on EU membership, I suspect they thought we'd stay

I'm not suggesting anyone should move bank now for this change, but found the timing interesting
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Comments

  • mwarby
    mwarby Posts: 2,048 Forumite
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    Link the changes https://static.halifax.co.uk/assets/pdf/bankaccounts/pdf/basic-account-guide.pdf#page=51
  • meer53
    meer53 Posts: 10,217 Forumite
    First Post First Anniversary Combo Breaker
    Due to Brexit ? I work for a bank, we stopped offering accounts to non UK residents years ago, as did many other banks. Nothing to do with any referendum.
  • mwarby
    mwarby Posts: 2,048 Forumite
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    I never said due to brexit (I dont think they could have formulated printed and posted it in 24 hours).

    I did think adding this term and do a mailshot around t time of a referendum on our membership was odd
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    mwarby wrote: »
    I never said due to brexit (I dont think they could have formulated printed and posted it in 24 hours).

    I did think adding this term and do a mailshot around t time of a referendum on our membership was odd

    Who knows probably more coincidence than anything else.

    Far more to do with fatca than Brexit, though other acronyms may also have an effect.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    It's nothing to do with BREXIT.

    There's a ridiculous eu directive forcing banks to open basic accounts for EU residents outside the uk.

    The condition is preparing for the implementation of that directive.
  • mwarby
    mwarby Posts: 2,048 Forumite
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    PeacefulWaters wrote: »

    There's a ridiculous eu directive forcing banks to open basic accounts for EU residents outside the uk.
    .

    That makes sense, Obviously the terms will change again when we leave, but unfortunate timing
  • mwarby
    mwarby Posts: 2,048 Forumite
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    Wonder why a none UK resident would want a basic UK bank account, I doubt many did
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    First Post Combo Breaker
    mwarby wrote: »
    I never said due to brexit

    I think you'll find you said exactly that.
    mwarby wrote: »
    From the above it looks like without another terms and conditions change they can close the accounts due to brexit.
  • mwarby
    mwarby Posts: 2,048 Forumite
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    edited 25 June 2016 at 8:14PM
    My apologies,

    I meant that I didn't say the change to terms was due to the referendum result (aka brexit)

    I do think a literal interpretation of the terms as they stand today, could mean that one the uk has left the eu accounts could be closed(but would be pretty silly to do so)
  • meer53
    meer53 Posts: 10,217 Forumite
    First Post First Anniversary Combo Breaker
    mwarby wrote: »
    Wonder why a none UK resident would want a basic UK bank account, I doubt many did

    We get applications from non UK residents every day ! Why do you think they don't ?
This discussion has been closed.
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