Effects of BREXIT on UK Bank accounts held by IRL residents?

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horusd

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This may be covered already, but I cannot locate any information on it. I'm with Ulster Bank with a STG account that I do use for UK transactions. They know I live in the South, but I have heard nothing from them good or bad regarding BREXIT. I don't see anything on the UB (UK) website either. Is there likely to be problems?

One of my English neighbors here in Spain has been told she may have her Barclay's STG account closed depending on how BREXIT pans out.
 
The UK banks will have a raft of new regulations to comply with to offer accounts in the EU. For many, it won't be worth the hassle.

I suspect that Ulster Bank has so many customers in the Republic that they will do whatever is necessary to retain them.

I have a sterling account with Ulster Bank in Newry and I haven't heard anything from them either. I don't expect it to change.

Brendan
 
Brendan Burgess said:
The UK banks will have a raft of new regulations to comply with to offer accounts in the EU. For many, it won't be worth the hassle.

I suspect that Ulster Bank has so many customers in the Republic that they will do whatever is necessary to retain them.

I have a sterling account with Ulster Bank in Newry and I haven't heard anything from them either. I don't expect it to change.

Brendan
Click to expand...

Hiya Brendan, I'm in the same bank in Newry. I hope this won't be an issue, It's very handy having an STG account, atho there's always a plan B with Revolut.
 
Saw this thread and thought I'd add an update. I too have a UK account with the Bank of Ireland in Newry. However it seems alot harder to open a new UK account now. Looking at the Bank of Ireland UK website, it still seems possible. However both AIB NI and Ulsterbank NI won't open accounts for non UK residents since 1 January 2021. Danske and Santander won't do it either. Not sure if there are other high street banks in NI.
 
Here's an Irish Times article dated December 21 2020 showing how British banks were dealing with their non-resident UK customers with the Brexit transition period ending.

www.irishtimes.com

Brexit: British banks to stay open for Irish customers

Barclays and Lloyds Banking Group closing some accounts for customers in certain countries
www.irishtimes.com www.irishtimes.com

Also an FAQ page from Ulsterbank NI re non-resident accounts:

Brexit Hub | Support Centre | Ulster Bank

Visit our hub to find information on the Brexit process and what it may mean for you.
www.ulsterbank.co.uk www.ulsterbank.co.uk

Similar webpage from AIB NI:

Information for non-UK residents

aibni.co.uk aibni.co.uk
 
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