Sir, Anthony Browne, chief executive of the British Bankers’ Association, writes that “the City — and banks in particular — unequivocally want to maintain the current level of full access to the EU market, to ensure that businesses and customers across Europe can still be served by UK-based banks” (Letters, August 20).
Fine words. But isn’t he aware — I assume he must be — that all the major onshore UK banks currently require account holders to be UK-resident and refuse to open bank accounts for British nationals who are not resident in the UK — even when such UK nationals have UK source income including pensions and/or needs to make frequent payments in sterling, and even though there is nothing in UK legislation that forbids them serving such customers?
So UK-based banks want to keep their current level of full access to other EU markets even though they decline to provide basic banking services now, when they are permitted to, for British customers who live in some other EU countries and have a need for ordinary current account services in the UK?
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