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UK banks and their differing policies to non-Uk residents that have accounts with them.

  • 20-08-2022 8:06pm
    #1
    [Deleted User]
    Posts: 0 ✭


    Just thought I'd start a discussion here re anyone living in the Republic of Ireland that has an account in a UK bank. Personally I have had a current account with the Bank of Ireland UK in Newry since around 2010. Its called a Basic Cash Account, basically a bog standard current account with a cash card. Recently upgraded to their Clear current account that comes with a Visa debit card. Opening it was a pretty painless process. Just needed a photo of an ID, a selfie of you holding the ID, and a photo of a utility bill.

    What I find interesting though is the various UK banks policies towards their non-UK account holders. Both AIB NI and Ulsterbank NI allowed non-UK residents to open accounts until the end of 2020, but then stopped once the Brexit transition period period ended on 1 Jan 2021. Existing account holders were allowed to keep their accounts open. However banks like Barclays are closing accounts of non-UK residents. Barclays said it was too much hassle to apply for a license in each individual EU country to maintain these accounts, hence their decision to close these accounts.

    How come all these banks seem to have differing policies re non-resident accounts. Are they not all governed by the same rules?



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