Just received a letter from Lloyds bank announcing that (because of UK leaving the EU) they intend to close my UK current and saving accounts as from 2 November. The reason they give is " After 31 Dec 2020 we'll no longer be allowed to provide some banking services in a number of EU countries". The UK Gov Brexit website, however, makes no mention of any such requirements on UK banks. I've had the same accounts since 1969 when I became resident in NL, i.e. several years before the UK joined the EU so I suspect that Brexit may not be the real reason. Has anyone else encountered this situation with Lloyds or any other UK bank?
UK bank account and Brexit
Henry McGrath
07 September 2020 18:23:03
19
Cynic
07 September 2020 20:16:10
7387
Hi again.
This affects Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows accounts. I've heard it's not Brexit specifically, but to do with obtaining licences to trade in certain EU countries (Netherlands and Slovakia) which will arise because the UK is no longer a member of the EU; the Lloyds Group have decided not to pursue any further business in those countries; which I guess translates to mean they don't make enough money in those countries to make it worth their while.
Maybe switch banks, my daughter still lives in the Netherlands and her bank (HSBC} haven't done this.
Hope this helps.
Cynic
Expat Team
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