UK Bank accounts for ex pats

[SueA]

Before I start checking out every bank in Greece, can anyone tell me if they have a sterling account at one of them? Any info would be appreciated.

[Forsto]

It would appear Piraeus do https://www.piraeusbank.gr/en/idiwtes/k ... allagmatos but I have as yet no personal experience.

[Kilkis]

Alpha Bank have two foreign currency accounts. Alpha 105 is a foreign currency current account while Alpha 405 is a foreign currency savings account. The latter is a pass book account while the former has full e-banking. They don't seem to specify anywhere which foreign currencies they include but I would guess that US$, Swiss Francs and Sterling would be top of the list. You would need to enquire directly.

Warwick

[bobscott]

Thanks Midlander. I always trust information from Martin Lewis. It's interesting that the banks that have already decided to close accounts all quote the same countries: Germany, Republic of Ireland, Italy, the Netherlands, Portugal and Slovakia. Perhaps there is something specific in the banking regulations of those countries that doesn't affect other countries?

Warwick

Regarding some of the earlier correspondence about UK addresses, this paragraph from the article is interesting: (My emphasis)
Check with your current bank if there's any way of appealing the closure. In most cases, this won't be possible – you'll need a UK residential address to keep the account, and the banks we've spoken to have said it'll need to be your main residential address. But it may be worth checking with the bank what, if any, options you have, depending on your circumstances – for instance, if you do have a suitable UK address which meets the banks' requirements, that might be a solution. Bob

[bobscott]

Alpha Bank have two foreign currency accounts. Alpha 105 is a foreign currency current account while Alpha 405 is a foreign currency savings account. The latter is a pass book account while the former has full e-banking. They don't seem to specify anywhere which foreign currencies they include but I would guess that US$, Swiss Francs and Sterling would be top of the list. You would need to enquire directly.

Warwick

We have had an Alpha 405 joint sterling account since we first settled here. We used to write Sterling cheques from our UK bank, deposit them with the Alpha 405 account, wait for 3 weeks for clearance and then withdraw whatever amount was covered by deposits in Drachmae and then later in Euros. Because of changes in the various systems, we haven't needed to use it for the last 8 years so it will be locked (but unlockable if necessary). Have never even tried setting up standing orders etc, it was just a way of getting Sterling converted to the local currency. Currency Fair and others made it unnecessary to work that way any longer.
Bob.

[Kilkis]

I think you would probably need the 105 version to set up standing orders etc, Bob, but I could be wrong.

Warwick

[evansmr1]

Before I start checking out every bank in Greece, can anyone tell me if they have a sterling account at one of them? Any info would be appreciated.

I have a sterling Account at Eurobank as well as Euro accounts.

[Kilkis]

In case it is of any help to people the UK Government Living in Europe web site has been updated with the following paragraph, my emphasis in red:

Banking and financial services

Most people living in Europe should not see any change to their banking when the transition period ends (31 December 2020). Whether UK banks can service customers living in an EEA country is a matter of local law and regulation. Also banks are set up differently, and may have taken different actions to continue to serve their customers.

Your bank or finance provider should contact you if they need to make any changes to your product or the way they provide it. If you have any concerns about whether you might be affected, contact your provider or seek independent financial advice.

Read the Money and Pension Service guidance on banking, insurance and financial services changes after 31 December 2020 for more information on cross-border banking.

Warwick