Hello all,

I'm just reading the news today, well more Brexit related news anyway. So it seems that with no trade deal between the EU and UK in sight, UK banks are now closing customers UK accounts in many EU countries such as Germany, Netherlands etc.

As someone with a UK Bank account with nationwide I'm wondering if this will impact on anyone living in CH? I couldn't find out if the bilateral agreements signed by UK and CH would mean banking services remain the same. Any thoughts or knowledge would help, really don't want to close UK account because of this....

https://www.thelocal.ch/20200920/bri...ts-within-week

Waiting for further news too, as this would affect us very much.



Initially it was just Barclay Credit card- but it seems will also include other banks and existing bank accounts. We were told we would always be able to keeo our exisiting UK accounts (both held for over 50 years). Hopefully, Switzerland will not be included, only EU countries.

Not all UK banks are doing this yet.

I don't live in the EU anyway...

i think uk has some economic problems and they want to protect economy by not letting to take money out of uk people to other countries.


i think uk has some serious problems now

Another issue is the information sharing thing, or maybe it's related. Many banks now don't want to get involved and won't let you have an account if you're not solely UK tax resident.

Before Mrs Thatcher changed the rules there were exchange controls, you could not take more than £600 abroad & UK credit cards could not be used abroad.

Under EU law British banks had to allow any EU resident a basic payment account if they asked for one. Since it's just a box ticking exercise I doubt that is the issue.

Considering internet shopping was not really a thing in her time, doesn't that make a credit card futile?
Actually, with the £600 rule in addition to a useless credit card ..... no wonder the average Brit never travelled. LOL.

Thats why package holidays were big in the UK. The biggest problem was if you left the Uk to live elsewhere, you could not take your money with you. You could apply to get permission from the Bank of England to move any cash abroad that eventually would be approved. This is actually the main reason many wealthy people hold assets 'off shore' in the event of Exchange Controls ever being reintroduced.

i would suggest you to hold your assets on digital usd eur or even gbp currency
you control the keys no goverment has any form of control over it.
you can swap this any time you like into real cash anywhere in the world.

its called blockchain

Ah, I thought you were going to say tulips...there is no difference between your faith in a digital currency and the people of the 17th century’s believe in tulips, they both rely on your belief in it, nothing else.

Don’t confuse governments lack of interest in digital currency with their ability to control it. The fact that you need to convert your digital currency in to ‘real cash’ as you call it means they certainly can. Interesting how you choose to use the term ‘real cash’.

You are converting acceptable legal tender into something who’s value is entirely dependent on people’s belief in it, in the expectation that that belief will still be there when you need to convert it back.... that makes you incredibly vulnerable because all governments need to do is outlaw your ability to convert it back and your wealth will disappear in a matter of minutes.

__________________
"There is no passion to be found playing small - in settling for a life that is less than the one you are capable of living." - Nelson Mandela

Yes but stable currency is backed by 1:1 real currenchy and coinbase wich is popular cryptocurrency wallet provider have even insurance policy to protect customers and all over the world law enforcement been tacked down hackers who stole from cryptocurrency wallets!

the stable coins are good ones out there

off course things might change in cryptocurrency world but things will not happening over night so you have time to move your assets there and make corrections what is beneficial for you.

We should be ok in CH if we're resident in CH. The passporting rules expire soon because of Brexit but these are for the EU+EEA, and Switzerland is not part of this. So any existing UK-CH deal isn't impacted by the end of the Brexit transition period.

Incase anyone gets their bank account closed - I use HSBC Expat based in Jersey, which I presume will be unaffected and offers a decent enough service.

Nah. The government is just incompetent. True dat, tho.

Heck, this sounds like... back to the seventies... early seventies... pre EU seventies, where the GB bumper sticker stood for "Gone Bankrupt!"

That does not even make sense.... I''m leaving you to your delusions.

It’s now “Gone Bonkers”.

how does it not make sense??

you can use digital cryptocurrency like USDT USDC and hold it in your digital private ledger and no goverment has no control over it and to exchange this in to money you can do completely tax free



what is here does not make sense to you??