Banking services
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Does anyone know if, or when, or if at all,the UK Government is going to start sorting arrangements for the many issues(including banking services) that will more than likely change after 31/12/20?Are they just hoping that it will all go away,or more likely,hoping that everyone will make special arrangements for them?As far as i can see,very little or in fact nothing seems to be getting done.UK banks are once again stating that they may not be able to provide the same services if there is no deal,which the UK Government seems to be recklessly hurtling towards.
Recklessly hurtling. Give that man a cigar!
That’s exactly what the UK government is doing. They have done so little over the last year to get a final agreement sorted that it has become clear that a “no deal” Brexit is precisely what they want. I haven’t the knowledge to work out how it will work out for ordinary people but you can be certain that the “old boy network” will make out handsomely as they always do.
This is just one of many issues that will affect a lot of us over here,if UK banks are not able to operate as they are at the moment,still,Rees Mogg is ok,he has just netted another £800,000 from some hedge fund or something,just in case you were worried about him and his cronies,it,s business as usual for them.
I think Bozo’s agenda (plus his pals), has always been to stage a no-deal Brexit, and then blame the EU.
I don’t think it will make any difference, my state pension come via CITE bank in the USA, And I have an HSBC international a/c, along with a good old C&A a/c, so can’t see any problems, if you’re concerned keep a few euros in cash to tied you over until it is all sorted, obviously there will be things that change, but we do not know I was thinking about getting an artic from the UK next spring full of building materials, but unsure if import tax will be applied when it comes into the EU, so we will have to wait and see.
I have a couple of houses in the UK and my insurance company have contacted me to describe the roundabout route they are going to have to use to continue doing business with me, an EU resident. Basically a Swedish insurance company is taking over this aspect of their business as they are losing the “pass porting rights” we hear so much about.
Britain has done very well in the past from providing insurance. Let’s hope hot air and rhetoric can make up for the losses and pay the bills.
I think Bozo’s agenda (plus his pals), has always been to stage a no-deal Brexit, and then blame the EU.
He can blame Covid as well now.
I don’t think it will make any difference, my state pension come via CITE bank in the USA, And I have an HSBC international a/c, along with a good old C&A a/c, so can’t see any problems, if you’re concerned keep a few euros in cash to tied you over until it is all sorted, obviously there will be things that change, but we do not know I was thinking about getting an artic from the UK next spring full of building materials, but unsure if import tax will be applied when it comes into the EU, so we will have to wait and see.
Probably banks with an international presence may not be affected as much as banks limited to UK.
Seabadger, my son lives in Spain and commutes to the UK, he has moved all his insurances to Gibraltar, insurances for his UK car and Spanish plated car,Spanish house, and UK properties, he told me no problems at all, and they are cheaper than UK or Spain.
Thanks Whatnow. I’ll look into that.
Worth bearing in mind Gibraltar left the EU, against their will, when the UK did. And will be probably leaving the single market in January, too. So any problems the UK has dealing with EU countries, Gilbraltar will have too.
Gibraltar left the EU against their will…mmmm,that sounds familiar.Unfortunately,all sorts of problems are going to come to light as the final date arrives.
I had a letter today from “Barclay card” informing me that they closing my account with them as I live in the EU, however if I move back to UK before the cut off date, I can keep the account! They say they are closing the accounts of all EU residents.
What a mess!
Just another thing that people said wouldn,t happen,and it is now happening,thanks Brexiteers
Very interesting. This came up a year or so back and it turned out that Barclays were simply limiting the services they could provide, not closing accounts. Seems things have changed. I hope most of the Barclays accounts belong to Brexit voters.
To be fair, when we left the UK in the 80’s we had two cards with the Liverpool Victoria bank and the minute we changed our address, we were told to send them back. We didn’t, for security reasons we cut them up.
Problem is Roger,banking with eu countries has worked very well for years,now,it looks to be in doubt.This could have massive consequences for Brits living in Europe,ease of bank transfers,ease of pension payment transfers,the list goes on…yet another Brexit related unnecessary problem
I am assuming a lot of people have stopped using their UK banks for transfers because of high fees. I use Transferwise which uses their own UK account as an intermediary. As long as Transferwise have the proper systems in place nothing will change for us.
We will have to wait and see if other banks and building societies will be closing accounts of expats.
Morning All
Potentially quite worrying.
I contacted my UK bank, Nationwide, a week ago, asking what their position would be in relation to a NO Deal.
They said they had no plans to change my status, and my accounts and credit card would still operate in the same way.
We will see.
Andy
Another thing.
It would be interesting to see who is making money shorting the pound.
Andy
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