Banks cut expat customers adrift

[Deleted User]

Exodi said:

Deleted_User said:

If you choose to live outside the UK such issues should be expected. To add I know a couple of people that lived in the EU when we was in it, and opening a bank account was like trying to get access to the pope! Yes it was possible. 

Opening a bank account where - Do you mean opening a UK account with an EU address, or opening an EU bank account with an EU address (as an expat)?

I think when my parents permenantly moved to France, they kept their UK account with a UK address (for pensions and things to be paid into), and opened a French bank account in France. They then transferred money between these as required.

I don't think opening the French account was a complete walk in the park, but I think this would be the case for any country if someone just turns up with "I've just moved here, I don't speak the language and I have no native identification - can I open an account please?"

Funnily enough the people I know were in that situation, they were British and moved to France, working in France they wished to open French bank accounts and they have told me many times the chore of it and continuous hassle. 

Yes very much so it would be the case in any country, but people speak as if when we were in the EU you could simply walk into any EU bank and open accounts as you would in the UK. That was not the reality.

[Deleted User]

Many banks don't wish to deal with the hassle of emigrant banking as they obviously don't make them enough money.

They can either take the risk of using a third party UK address or look at high net worth products in the Channel Islands or IOM.

jimjames

[Deleted User] said:

Exodi said:

Deleted_User said:

If you choose to live outside the UK such issues should be expected. To add I know a couple of people that lived in the EU when we was in it, and opening a bank account was like trying to get access to the pope! Yes it was possible. 

Opening a bank account where - Do you mean opening a UK account with an EU address, or opening an EU bank account with an EU address (as an expat)?

I think when my parents permenantly moved to France, they kept their UK account with a UK address (for pensions and things to be paid into), and opened a French bank account in France. They then transferred money between these as required.

I don't think opening the French account was a complete walk in the park, but I think this would be the case for any country if someone just turns up with "I've just moved here, I don't speak the language and I have no native identification - can I open an account please?"

Yes very much so it would be the case in any country, but people speak as if when we were in the EU you could simply walk into any EU bank and open accounts as you would in the UK. That was not the reality.

Other countries have different requirements for opening bank accounts. It's likely that it's the same process for anyone local to that country to do the same. UK accounts are unusual in that they don't routinely charge for providing banking services for example