British expats risk being 'stripped of their UK bank accounts' post-Brexit

clock • 3 min read

Britons abroad face losing their UK bank within weeks, because of the UK government's failure to agree rules for operating after Brexit.  Lloyds, Barclays and Coutts have started warning EU-based customers they will stop servicing them at the end of the year, according to The Sunday Times. As part of the EU, UK-based financial businesses could "passport" into Europe, but if there is no new agreement on this before 31 December, then banks would need to apply for new banking licences separately with individual EU countries, which would be time-consuming and may not make financial sense....

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