RE: UK Bank Account Curveball = Off To Dubai
(Edited)
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What ?? I am sure there are so many things I don't know about banking, but I never heard of anyone's account being closed for no reason while they are using it. Yes, I also know things are different here, but that doesn't mean they will stay that way.
Nobody needs one more surprise issue on things that are as important as the bank you use.
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I agree as this is a proper curve ball I never ever expected especially being with the bank for 31 years and had my home loan with them. 2 months is no time to arrange this and will find a stop gap maybe in the mean time. I cannot use a bank here for my GBP as there is depreciation risk and has to be kept outside the borders.
Maybe it should be obvious to me, but I wonder why they have made the rule to not let people who move away keep their accounts. As long as they are in good standing, I don't see what it would hurt.
Apparently you cannot grade someone's credit rating if you are not living in the country. My account is in good shape and this is the new regulations. What gets me from all of this is they say you need a minimum balance of 100K in their special expats bank that is available in order to cover the 40 GBP monthly fees. At least offer this option and let us pay the fees instead of having the set fixed amount. Sickening really as this was convenient even though we are planning to move to Europe shortly.