Barclays Bank

Toon wrote:

Do you bank with Barclays UK have you had your account closed... because you dont fit their criteria no matter how long you have banked with them - if not well beware its already happening.
The situation with regard to Barclays Bank account closures is really depressing, and can potentially happen with other banks too.
The EU is supposed to permit freedom of movement of capital and services. The trouble appears to be that though the EU permits such freedom, the banks themselves are not compelled to avail themselves of it, and are causing some distress to British Citizens in the EU.
I think it is worth the individuals affected making complaints to the EU on this.
The matter is just part of a general attitude towards UK citizens in the EU - here one also touches on the fact that it exceedingly difficult to open a fresh on-shore bank account. Or avail oneself of accounts and investments available to UK residents.
Here are some links which might help - But I am well aware that there are difficulties. But if one does not complain - no one is aware of the issues.
http://www.ecas.org/http://europa.eu/youreurope/advice/eligibility_en.htmhttp://ec.europa.eu/solvit/index_en.htm
One might raise interest amongst MEPs also -- It is always best if an affected individual does this.
http://www.europarl.europa.eu/meps/en/s … country=GB
Choose an MEP and request that a question is raised in the EU parliament - State the facts clearly.

I have a barclays account with my malta address as the registered address. Not much money in there ( 4 quid at the moment) but no sign of them closing it  when I moved over they told me in branch not to open an international one just register address here when I got one and carry on using it. There is also an EU directive coming into force ( by April 2016) that all eu citizens regardless of financial status must have access to banking facilities. The UK govt wants it in as soon as possible to facilitate the roll our of universal credit. Also the UK govt is helping pensioners in Greece to open uk accounts if they don't have one, just in case.

I have Barclays too hope they don't close it
- I rely on their bank

I also have a natwest account with a whole £13in it lol but still registered at old UK address.

all i am saying guys is be prepared ........ lots of people are getting letters after theyve actually closed their accounts some have been closed without any prior warning or post warning there accounts were just closed ... so please check what you think you have got.

Maybe even ask the pointed question - but consider "leave well alone" if youve checked your accounts and they still exist and are operational...

Just had a thought - as i picked this gem up from here in Cyprus and trawling through page after page of other fora it may only be Cyprus residents accounts,,,,,,and it seems only accounts with less than £100k in them. 

Some people have already been through this here and it is true they are closing accounts that hold less than £100k BUT not all the bank staff have been made aware of it  and it has been confirmed it is true. I am not sure how far reaching this is - so it may be worth while to check your account(s) if you have them with Barclays... for some reason one person we know has been advised that their accounts will be closed by 9th Sept 2015.

BTW - so much for DPS and that protection - and is soon to be reduced from £85k to £75k as of January 2016 for those who are lucky enough to be in that bracket... lol

so there may be some truth in it after all

so Malta and Cyprus are likely to be hit by the Barclays account closures
http://www.thisismoney.co.uk/money/savi … ounts.html

of course you may get round it if you have access to a family members address or a trusted friends address

anyone got £100,000 going spare - i don think my bank has ever seen over 1000£ lol
though i use my family address so it may not count

robpw2 wrote:

anyone got £100,000 going spare - i don think my bank has ever seen over 1000£ lol
though i use my family address so it may not count

Lol the limit hasn't changed its still 100,000 euros. It's the annual reevaluation of the exchange rate. Was about 1.23 this time last year. 1.44 today

redders_61 wrote:

robpw2 wrote:

anyone got £100,000 going spare - i don think my bank has ever seen over 1000£ lol
though i use my family address so it may not count

Lol the limit hasn't changed its still 100,000 euros. It's the annual reevaluation of the exchange rate. Was about 1.23 this time last year. 1.44 today

correct the euro limit hasnt but the sterling limit has as you rightly summise due to the exchange rate.. so what happens when it plummets again...... or are they really saying or indicating that they dont expect it too for a good while?

Far as I know it's an annual reevaluation I think it was about 1.35 when they calculated this year's

redders_61 wrote:

Far as I know it's an annual reevaluation I think it was about 1.35 when they calculated this year's

looks about right

I read about that yesterday, Cyprus and Malta both hit according to the report in the Daily Mail.

As if banks haven't found enough ways already to piss off their customers in the last 10 years. People who have been banking with them for 45 years, but only have 80 grand in their bank account are having it closed!! Shocking.

And as Toon pointed out, from the beginning of next year the Deposit Protection Compensation limit will fall to £75,000, so to adhere to Barclays new rules, 25% of your cash will not be protected.

I hope all the other banks are not going to follow, otherwise unless you've got £100k sitting around in cash you won't be allowed to have a UK bank account open.

redders_61 wrote:

Lol the limit hasn't changed its still 100,000 euros. It's the annual reevaluation of the exchange rate. Was about 1.23 this time last year. 1.44 today

It's 100k sterling in the Daily Mail report, so the exchange rate won't matter. Presuming that article is correct.

http://www.dailymail.co.uk/money/saving … ounts.html

However in Cyprus' case those who may be caught in this who reside here can easily open a Bank of Cyprus account in UK.... (a totally separate unit from the Bank of Cyprus bank located here) and its governed and legislated by UK.... so to a certain degree protected

a conversation held today re barclays and a malta addressed account holder

permission granted by the holder of the account (living in malta)

B 10:01:51
Simon, following a review of our Personal Banking business, a number of Personal customers who hold a UK bank account were identified as residing in countries that Barclays will no longer transact with.
Simon 10:02:09
does this include malta?
B 10:02:18
These customers will soon receive a letter informing them that work is now underway to close their customer records and their products.
B 10:03:09
Simon, please allow me two minutes while I look into your query.
Simon 10:03:21
ok thanks
B 10:04:03
You are welcome.
B  10:05:02
Thank you for your patience. I am still looking into this for you. Please allow me 2 minutes more.
Simon 10:05:21
ok no problem
B 10:07:09
Thank you for your patience.
B 10:08:58
Simon, As per the list of countries available, Malta is included.
B  10:09:28
This means that Barclays Accounts in Malta will be closed.
Simon10:10:19
you mean accounts in the uk owned by residents of malta yes?
B 10:10:56
That is correct.
Simon 10:11:11
ok thanks for your help
B10:11:29
My pleasure. Is there anything else I may help you with today?

Weird that they aren't supporting Malta and Cyprus. Both countries have strong links with the UK too, both were ruled by the UK until the 1960s. It's not like Barclays have any branches in either country. What's the difference between an expat living in Malta and one living in Catania?

It might be difficult for some people to move their money, a lot of UK banks won't let you open a new account if you aren't a resident in the country and have the UK bills / paperwork to prove it. The Isle of Man or The Channel Islands might have to be an option.

and here are 7 ex pats in Cyprus thoughts on it - Maltas expats who are Barclays customers can expect no different a treatment

http://www.thisismoney.co.uk/money/savi … ology.html

Barclays appear to know no shame

This is the worrying quote in the original article -

"It adds that customers may eligible to open accounts with other 'offshore' providers, but says many are carrying out a similar exercise."

If the rest of the banks start doing it, we're all screwed. And comments from people affected seem to confirm that you can't open a new account anywhere without a UK address and current utility bills to prove it.

off shore would seem to be the way to go

and theres more - yes a cyprus newspaper but they do mention Malta as being affected too

http://cyprus-mail.com/2015/07/22/expat … er-100000/

I used to have a Lloyds TSB account based in Jersey, you wouldn't notice any difference from having a UK account, you get a Sort Code, A/C No, Visa Debit Card, on-line banking. The only possible problem might be direct debits, if you had to give a a Jersey postal address to a UK company, they might be reluctant, but as long as they are happy with that then there is sod all difference.

Apart from the annual fee, I think it cost me 50 quid a year to keep the account open. Maybe that's why they're trying to move people off-shore. As if they don't steal enough money from expats already - international transaction fees, crap exchange rates!!

crap exchange rates - Transferwise 100% ....mate works a treat

and more again

http://www.independent.com.mt//articles … 6736139435

Barclays know that the regulations that the UK Government intends to enact in order to fulfil the EU Payments Account Directive (2014/92/EU) state in section 18:
Non-discrimination in the provision of payment accounts
A credit institution must not discriminate against consumers legally resident in the EU by reason of their nationality or place of residence or by reason of any other ground referred to in Article 21 of the Charter when those consumers apply for or access a payment account.
The conditions applicable to holding a payment account with basic features within the meaning of regulation 19 must not be discriminatory.See: https://www.gov.uk/government/...
and
https://www.gov.uk/government/...
The UK government regards a “current account” as being a “payment account with basic features” for the purpose of this legislation.
These regulations will come into force on 18th September 2016 and the UK government has already stated:
The government set the threshold for participation in the 2014 agreement on the basis of firms' personal current account market share at the start of negotiations. Firms with a market share greater than 1 per cent of the market were invited to participate.
The nine banks who have agreed to offer basic bank accounts at present, in line with the 2014 agreement, are: Barclays, the Co-operative Bank, HSBC, Lloyds Banking Group (including Halifax and Bank of Scotland brands), National Australia Group (including Clydesdale and Yorkshire brands), Nationwide, RBS Group (including NatWest and Ulster Bank brands), Santander and TSB.
It is incredible therefore that the terms stated in Barclays letter contravene both of the anti-discrimination clauses of section 18 of the proposed banking regulations that Barclays has already agreed to implement
Also after September next year Barclays will have to allow customers in Cyprus, Malta and Greece to have current accounts and not put stupid restrictions such as a minimum balance of £100,000 (which is £25,000 higher than the financial compensation guaranteed amount in 2016).

elusien wrote:

Barclays know that the regulations that the UK Government intends to enact in order to fulfil the EU Payments Account Directive (2014/92/EU) state in section 18:
Non-discrimination in the provision of payment accounts
A credit institution must not discriminate against consumers legally resident in the EU by reason of their nationality or place of residence or by reason of any other ground referred to in Article 21 of the Charter when those consumers apply for or access a payment account.
The conditions applicable to holding a payment account with basic features within the meaning of regulation 19 must not be discriminatory.See: https://www.gov.uk/government/...
and
https://www.gov.uk/government/...
The UK government regards a “current account” as being a “payment account with basic features” for the purpose of this legislation.
These regulations will come into force on 18th September 2016 and the UK government has already stated:
The government set the threshold for participation in the 2014 agreement on the basis of firms' personal current account market share at the start of negotiations. Firms with a market share greater than 1 per cent of the market were invited to participate.
The nine banks who have agreed to offer basic bank accounts at present, in line with the 2014 agreement, are: Barclays, the Co-operative Bank, HSBC, Lloyds Banking Group (including Halifax and Bank of Scotland brands), National Australia Group (including Clydesdale and Yorkshire brands), Nationwide, RBS Group (including NatWest and Ulster Bank brands), Santander and TSB.
It is incredible therefore that the terms stated in Barclays letter contravene both of the anti-discrimination clauses of section 18 of the proposed banking regulations that Barclays has already agreed to implement
Also after September next year Barclays will have to allow customers in Cyprus, Malta and Greece to have current accounts and not put stupid restrictions such as a minimum balance of £100,000 (which is £25,000 higher than the financial compensation guaranteed amount in 2016).

Last I read in Sunday Times is the UK is pressing the EU to bring it into force sooner. Universal credit in UK requires banking so non discrimination is vital for all particularly the bankrupt and those with bad credit reports/history or indeed NO credit history as new residents

Interesting....

Toon wrote:

crap exchange rates - Transferwise 100% ....mate works a treat

Got 1.427 yesterday with Transferwise after charges.

Ray

To see the letter I wrote to Barclays see:

trips.elusien.co.uk/Barclays_Discrimination

I suggest everyone send something similar to them, the more the merrier.

let hope our admin clear the link  = i would personally appreciate a copy being sent by pm here if thats possible thanks

I am happy for the moderator to check the link I gave, which Is on my personal webpage. But if in the meantime anyone wants to see it just PM me and I will send it to you.

  Really scared now. One question: Are they doing this with people who have an address in Malta, or another country only? Because I still have an address in Uk, but no longer live in there!!?

they are doing this to anyone with an account that doesnt fit their criteria ie £100k in the account and with an address that is not in one of the 70 countries their strategy targets as their core market.

Got a Phone call from Barclays today - they are definitely closing my account. I asked them if they had read my letter - yes, but it didn't matter, they are still closing my account

I asked what the reasons are for doing this. I was told "It is a strategic decision".

I asked again if they had read my letter - it can't be a strategic decision if it is going to be reversed next year, at the most it could be termed a TACTICAL, but not a STRATEGIC decision. They are still closing my account.

I asked if the idiot who had made the tactical blunder to do this was aware of my letter. I was told that the points would be made known to "management", but my account was still being closed.

I asked if they realised it was not possible at the present time (but it will in a year's time) to open a new UK bank account to pay my standing orders. Basically I got "That's a pity", but my account was still being closed.

I asked if Barclays wasn't worried about having charges of discrimination levelled at them. I was told that Barclays was not discriminating against me. I pointed out that a definition of "discrimination" is "the practice of unfairly treating a person or group of people differently from other people or groups of people" and since Barclays are trying to blackmail me into keeping £100,000 in my current account to keep it open and they are not requiring any ex-pats in most other EU countries to do the same, that is DISCRIMINATION!

I said the letter I got from Barclays said that "Barclays will aim to offer me as much assistance as possible during this transition period". I asked what this meant. The gist of the reply was that this telephone conversation was it - a shoulder to cry on.

Luckily I do have current account with another UK bank, so it isn't the end of the world for me, but it is for lots of other people. This weekend I'll be formulating a letter to the financial ombudsman. Again I don't hold out much hope and even if he manages to reverse Barclays' decision I'll be closing my account anyway and so will my kids - I wouldn't touch them with a barge-pole after this.

My wife is going to the UK in a couple of weeks. I still have two unused Barclays current account chequebooks. I've been thinking of writing all 100 or so cheques out for 67p in cash and asking her to pop into a Barclays bank and hand over each cheque one at a time. That should keep them busy for an hour or so and it will be more useful than brassing all their Cyprus/Malta/Greece customers off. After that she can pay in all the change they have given her using the 50 or so pay in slips I still have!!!!