european union COMMERCIAL

Thousands of UK Bank Accounts May Close

After Brexit, thousand of British expats who live in Europe risk having their UK bank accounts closed. The Daily Mail reported:

Tens of thousands of British expats who live in Europe risk having their UK bank accounts closed ‘in weeks’ due to post-Brexit rules.

Lloyds, Barclays and Coutts are among a number of UK banks that have starting giving notice to expatriate customers to say they will close their accounts at 11pm on December 31.

The end of the withdrawal agreement makes it a ‘bureaucratic nightmare’ for UK banks to provide for British customers in the EU post-Brexit, with many simply choosing to pull their services.

MORE: https://www.dailymail.co.uk/news/article-8752653/British-expats-Europe-stripped-UK-bank-accounts-weeks-post-Brexit-rules.html