Not so nISA if you move abroad!

jonazo

Has anybody considered comparing with pensions? How would people feel if their personal pension provider decided to drop all its customers outside the UK?

I too understand why ISA providers prefer not to risk tangling with either UK or US tax regimes and financial regulators, because these days, the potential penalties in fines and damage to reputation could outweigh the potential profit, when things turn sour. I am more often surprised by the general public's high expectations and naivity in forums like these, about the nature of the financial services sector. Not many financial services providers are structured purely to serve there customers, and even those which are do not necessarily have untarnished reputations. Their main objective it shareholder value.

However, I also have sympathy with the customer, who is disappointed (to put it mildly) to be abandoned like this, when they have broken no rules, and therefore had an understandable expectation that they would therefore continue to be served. It's ultimately an example of the regulatory pendulum not always swinging entirely in the customer's direction.

I am a bit saddened too at the ill-temper of several contributions on this topic. I used to assume it was teenagers who flamed each other online, but I doubt anyone here is below 40. Have a bit of respect!

robatwork

jonazo wrote: »

I used to assume it was teenagers who flamed each other online, but I doubt anyone here is below 40. Have a bit of respect!

Respect? You are very, very, VERY close the wind with that comment.