Barclays is closing UK accounts belonging to customers living overseas, Which? has warned. Barclays has been writing to expats giving them six months’ notice that their accounts will be closed after it changed its policy in 2021 – and the consumer watchdog has told expats they can transfer to other high street giants.
Barclays told Which? that it is proactively contacting all impacted customers to outline the next steps and any actions they need to take. Barclays says bank accounts may remain open if you are a Crown Employee serving overseas or the address on the account is for someone who manages the account on your behalf.
It may also stay open if you are living outside the UK for six months or less, in which case you should inform Barclays when you return so it can update the details. Other banks ready to welcome Barclays customers include First Direct, which says a ny existing UK customers can retain their current account and savings.
HSBC offers normal current accounts to UK nationals who live in the EU, depending on their local country regulations. Lloyds Group says vast majority of existing customers who move overseas can manage their existing bank or savings account online, or by using telephone banking.
Nationwide – which is the biggest building society in the UK – allows existing customers to keep their savings and current accounts if they move abroad, subject to some exceptions. And Santander says ay existing UK accounts will remain open for existing customers who relocate overseas for them to carry out basic maintenance.
Customers who aren’t UK residents can open a new account with Santander International, the high street bank adds. If existing customers move abroad they can retain their Virgin Money account, unless they move to Italy or the Netherlands, the bank adds.
