Lloyds bank close UK citizens account EUs in EU

colsten

masmith1 said:

It's nothing to do with Brexit, customers residing in the EU don't expect EU rules to be imposed on their UK bank acounts.. They just want to continue with UK rules. Lloyds is just using it as an excuse to offload unprofitable customer groups, selected by addressl Hardly surprising, Lloyds is majority-owned by the UK Govt..

It's everything to do with Brexit. Unless a follow-on agreement to the existing passporting is reached, UK banks would need to have an EU licence to offer any kind of financial services to residents of the EU. 

wmb194

colsten said:

masmith1 said:

It's nothing to do with Brexit, customers residing in the EU don't expect EU rules to be imposed on their UK bank acounts.. They just want to continue with UK rules. Lloyds is just using it as an excuse to offload unprofitable customer groups, selected by addressl Hardly surprising, Lloyds is majority-owned by the UK Govt..

It's everything to do with Brexit. Unless a follow-on agreement to the existing passporting is reached, UK banks would need to have an EU licence to offer any kind of financial services to residents of the EU. 

Lloyds does have an EU presence though, via Lloyds Bank GmbH in Germany for one, and is operating its Dutch mortgage and savings bank using passported rights from this. IIRC an earlier poster said that they'd been told that Lloyds UK had decided not to offer current accounts to expats in just two territories, The Netherlands and Slovakia(?). It's long been possible for people living outside the EU to open accounts with banks within the EU and vice versa so who knows what's really going on.
https://www.lloydsbank.nl/over-lloyds-bank

colsten

I didn't know about Lloyds Bank GmbH. A quick browse shows that they have transferred their business to Bank of Scotland Deutschland, who are offering loans and savings accounts but not current accounts, similar to the Dutch subsidiary. I don't know whether their licence(s) include the provision of current account services, but if they do, the company/companies have never offered them.

wmb194

colsten said:

I didn't know about Lloyds Bank GmbH. A quick browse shows that they have transferred their business to Bank of Scotland Deutschland, who are offering loans and savings accounts but not current accounts, similar to the Dutch subsidiary. I don't know whether their licence(s) include the provision of current account services, but if they do, the company/companies have never offered them.

Yes, I know, but Barclays, HSBC, etc. don't offer current accounts in The Netherlands either but we're not hearing anything about them. My point is that Lloyds isn't a purely domestic bank and no doubt could offer current accounts to expats in the EU if it wanted to. We're also not hearing anything the other way around i.e. that ABN Amro, ING, Rabobank, et al are closing the accounts of its customers who are residents in GB.

PLMabroad

Has anyone had any joy opening a UK bank account? I'm also in NL and Lloyds is closing my account. I also want a UK credit card. I've looked but only found accounts for UK residents.