Barclays closed my current account - warning to other expats

GeordieinAotearoa

friolento said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

If you get a deal that's at least as good, or better, than the one you'd get with Wise, as a good MSE forumite you would share this here so that others can benefit from it, too.

GeordieinAotearoa said:

Bostonerimus1 said:

friolento said:

As the saying goes: you can lead a horse to water......

There is something to be said for staying with a system that you know works as it's just less bother. Of course you should be open to new things and adopt a new solution when the old one fails. I looked at Wise and rejected it as for the amount of money I regularly send to the UK my US bank does not charge a fee and the exchange rate is close enough to the one from Wise that an international bank to bank transfer ended up being cheaper. Also I don't want to share my bank details and the details of the recipient's bank account with a third party when it is not necessary, even if it were to save me a few dollars.

Exactly. As if I wouldn't have considered these things 🙄

It wasn't apparent from your posts that you had considered it that way. If you had posted straight away that you had worked out that you can get a better deal elsewhere, and what that deal was, nobody would have continued to suggest Wise. But all you did post was that you didn't understand how they operate, and that you basically didn't like the look of Wise.

PS. Since you asked: No, I don't work for Wise. I have never have worked for them, never will. I am also not a Wise shareholder or investor. I have simply been a satisfied customer of the Wise currency transfer services for many years.

I made it perfectly clear that I had appreciated the suggestion, looked into it, and then decided. "As a good Forumite" I reserve the right to consider all contributions but to make my own decisions, share only those personal details that I wish to share and never to be influenced by pressure or attempts at moral manipulation.

wmb194

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

Is the direct transfer to your NZ bank (which one?) just as good as Wise? I'm interested to know as it might help other expats in your situation in NZ and possibly elsewhere. If so then Barclays closing your account and HSBC` et al also not offering UK accounts to (NZ) expats could be a complete non-issue.

It is certainly not a non-issue for those who who have lost access to their funds and who wish to keep them in the UK - which was my starting premise. I have no intention of commenting further on Wise - I have made my position clear.

Which NZ bank are you using?

GeordieinAotearoa

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

Is the direct transfer to your NZ bank (which one?) just as good as Wise? I'm interested to know as it might help other expats in your situation in NZ and possibly elsewhere. If so then Barclays closing your account and HSBC` et al also not offering UK accounts to (NZ) expats could be a complete non-issue.

It is certainly not a non-issue for those who who have lost access to their funds and who wish to keep them in the UK - which was my starting premise. I have no intention of commenting further on Wise - I have made my position clear.

Which NZ bank are you using?

Nope. No further comment.

wmb194

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

Is the direct transfer to your NZ bank (which one?) just as good as Wise? I'm interested to know as it might help other expats in your situation in NZ and possibly elsewhere. If so then Barclays closing your account and HSBC` et al also not offering UK accounts to (NZ) expats could be a complete non-issue.

It is certainly not a non-issue for those who who have lost access to their funds and who wish to keep them in the UK - which was my starting premise. I have no intention of commenting further on Wise - I have made my position clear.

Which NZ bank are you using?

Nope. No further comment.

Ah, okay. I'm guessing it doesn't actually match Wise's offering, then. Anyway, hopefully this thread will be useful to others.

GeordieinAotearoa

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

Is the direct transfer to your NZ bank (which one?) just as good as Wise? I'm interested to know as it might help other expats in your situation in NZ and possibly elsewhere. If so then Barclays closing your account and HSBC` et al also not offering UK accounts to (NZ) expats could be a complete non-issue.

It is certainly not a non-issue for those who who have lost access to their funds and who wish to keep them in the UK - which was my starting premise. I have no intention of commenting further on Wise - I have made my position clear.

Which NZ bank are you using?

Nope. No further comment.

Ah, okay. I'm guessing it doesn't actually match Wise's offering, then. Anyway, hopefully this thread will be useful to others.

Ha ha, you're just desperate to win the argument aren't you? Can't let it go. Well, I'm not going to indulge you. Guess away.

wmb194

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

wmb194 said:

GeordieinAotearoa said:

To those criticising me for not choosing Wise: I appreciate the suggestion and I did look at it. But with respect, you cannot possibly know my circumstances and whether the direct transfer I have arranged is worse than Wise. So please don't make assumptions. Don't stubbornly assume that you know best. What's right for you isn't necessarily right for someone else. Take your own advice - and keep an open mind.

Is the direct transfer to your NZ bank (which one?) just as good as Wise? I'm interested to know as it might help other expats in your situation in NZ and possibly elsewhere. If so then Barclays closing your account and HSBC` et al also not offering UK accounts to (NZ) expats could be a complete non-issue.

It is certainly not a non-issue for those who who have lost access to their funds and who wish to keep them in the UK - which was my starting premise. I have no intention of commenting further on Wise - I have made my position clear.

Which NZ bank are you using?

Nope. No further comment.

Ah, okay. I'm guessing it doesn't actually match Wise's offering, then. Anyway, hopefully this thread will be useful to others.

Ha ha, you're just desperate to win the argument aren't you? Can't let it go. Well, I'm not going to indulge you. Guess away.

No, I'm genuinely interested as these questions come up regularly.