lloyds closing accounts

savoysister

My husband and I live in the Netherlands and have kept a UK Lloyds account since we have been here. All fine. We have received an email today to say that Lloyds will be closing our accounts by the end of the year because of Brexit. We have had no previous communications about this. Does anyone know a bank that lets you live in the EU but have an account with them? Lloyds has an international account..... but not for people who live in the EU!!

London7766551

Is it not possible to use an account based in the Netherlands? I assume you can become citizens after a set period and before then can retain your rights you now hold. If you are no longer living in the UK, it seems pointless to hold an account here. I am pretty sure you require a UK address to hold a current account by law.

London7766551

HSBC offer an account but you need at least 50K saved with the bank or a 100k salary. The account is based in Jersey.

https://www.expat.hsbc.com/accounts/products/bank-account/

Chino

London7766551 said:

I am pretty sure you require a UK address to hold a current account by law.

Whilst I can understand banks requiring current account holders to have a UK address, which law mandates this?

Thrugelmir

Why do need access to a UK account if you work and reside elsewhere? 

dunstonh

Does anyone know a bank that lets you live in the EU but have an account with them?

As it currently stands, the passporting permissions that allow UK firms to offer services to EU consumers is coming to an end.

 Lloyds has an international account..... but not for people who live in the EU!!

Welcome to the protectionist regime that is the EU.

D3xt3r5L4b

savoysister said:

My husband and I live in the Netherlands and have kept a UK Lloyds account since we have been here. All fine. We have received an email today to say that Lloyds will be closing our accounts by the end of the year because of Brexit. We have had no previous communications about this. Does anyone know a bank that lets you live in the EU but have an account with them? Lloyds has an international account..... but not for people who live in the EU!!

What’s wrong with the banks where you reside?

born_again

Chino said:

Whilst I can understand banks requiring current account holders to have a UK address, which law mandates this?

There does not need to be a law, and as far as I'm aware there are none. 
Lloyds will have extra issues as they have to report the tax status of account holders & as we are leaving the EU, then the bank are taking this chance to simplify their processes by no longer dealing with people living in the EU.
It is up to any business to decide who they want to allow to use their services. As the OP does not live in the UK, they have no need for a UK account, and many banks now will not open any new accounts for anyone out of the UK, even if they already hold accounts with them.

savoysister

We use it for when we come back so we don't have to change funds and have a savings account with them. I assume from another reply that lots of other expats might be in the same boat. Nothing on Lloyd's website I could see about it happening to accounts after Brexit. 

London7766551

Get a Revolute account. You can load up different currencies . Just don't leave a lot in there as it is not protected.

John_

ABN or Rabobank will both be completely fine with you living in the Netherlands.