UK bank account(s) closure

[Hotrodder]

I have a Nationwide a/c which I can use (until that's closed too!) for my pension,

Have you heard anything specific about Nationwide closing accounts? You got me worried now.

[DaveW]

I have a Barclays account and haven’t heard anything - yet. Do they give the option of providing a UK address?

[Hotrodder]

Someone on another forum has done that, and seems to recommend it as a solution.

[rabbit]

For anyone wanting a more conventional solution, it looks as if HSBC accounts are open to UK and EU residents.

We've been with First Direct (HSBC) for at least 25 years, no problem, with contact by phone or online. Our pensions go in there and we transfer money across to our Cred Ag account as and when we need to. It's very simple and there is no charge.

Blaze do you use a currency exchange intermediary like Currency Fair alongside your First Direct account or do you use First Direct's forex services to buy your Euros?

[rabbit]

Revolut are now a full bank in France with a French IBAN and you can have accounts in multiple currencies (I have £,$,€). My French Revolut account is registered to my French address.

For my Revolut sterling account I have a UK sort code (04-00-75) and account number for UK transfers (and a SWIFT number). When I need to, I can transfer sterling from my Lloyds account to my Revolut sterling account using that sort code account without charge. I can then use Revolut to convert the some sterling into Euro and transfer it to my Boursorama account, again without charge (except for a small conversion cost if it is over £1000/month).

Revolut France should automatically report the bank account to the fisc so no longer any need to report it on tax form 3916.

I am a big fan of Revolut and use it myself. However you must have a smartphone and it does not allow shared accounts

[Blaze]

Rabbit - after checking the mid market rate, we just get FD to do the transfer. We may get a slightly lower rate, but there is no conversion cost or charge. We also check the rate Cred Ag would give and seeing if it's acceptable.
We do it this way because it's very simple. We don't have smartphones and our FD and CA accounts are in joint names.

[Loup-garou]

Credit Agr are regional so there may be variations. Our CA has started charging 18€ for each receipt into our accounts from the UK even if in euros.

We are now taking all receipts into LCL, without a charge at the moment.

[Sparkle]

@rabbit "However you must have a smartphone and it does not allow shared accounts" thanks for that - I don't have a smart phone so that puts that one to bed for me. We do have one that we felt obliged to have & it was useful for the new passport photos and the covid tracker thingy but as I do the 'finance' stuff it will stay in the drawer! Sorry I'm drifting

[MAD87]

I have a Nationwide a/c which I can use (until that's closed too!) for my pension,

Have you heard anything specific about Nationwide closing accounts? You got me worried now.

No. NW seem to be very coy about expressing an opinion on the subject!

[MAD87]

I have a Barclays account and haven’t heard anything - yet. Do they give the option of providing a UK address?

They say you have to be residing at a UK address. Make of that what you will!