Problems closing a French bank account

Scampted

Thanks again.

To clarify, we are aware of the exchange rate that will need to be taken into account, I was concerned about the drop in the value of the pound following the Brexit result.

jonesMUFCforever

Scampted wrote: »

Thanks again.

To clarify, we are aware of the exchange rate that will need to be taken into account, I was concerned about the drop in the value of the pound following the Brexit result.

Do you not understand that when the pound falls the euro rises so the money in the french account will be worth more against the pound.

GingerFurball_2

Scampted wrote: »

Thanks again.

To clarify, we are aware of the exchange rate that will need to be taken into account, I was concerned about the drop in the value of the pound following the Brexit result.

Which makes any euros you have in the French account worth more.

eDicky

Scampted wrote: »

To clarify, we are aware of the exchange rate that will need to be taken into account, I was concerned about the drop in the value of the pound following the Brexit result.

As mentioned, this is something to be very happy about, not concerned - your father's euros are now worth much more of the lower value pounds.

You still haven't said what the actual problem is, why not just transfer out the funds and request account closure, which they can act on or not. With the account empty, who cares?

If you want to save money on the transfer use a transfer service such as TransferWise (Interbank rate, 0.5% charge), although for a large amount the bank charge for a straight transfer is relatively insignificant. The exchange rate is then the main factor, but you should be able to negotiate a preferable rate with the UK bank for an incoming large sum in euros.

In any case, as you must realise by now, your father will end up with many more pounds than he would have if transferred before the referendum.

Make sure that you keep all documents regarding the source of funds and the French account statements available in case they are requested during the transfer and in future.