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Discussion Starter · #1 · (Edited)
I'M furious.

Barclays bank are pulling out of Cyprus and anyone who lives in Cyprus and has a Barclays account and the address on files is Cyprus will be getting letters that their accounts are going to be closed. What a load of bull this is.
I am trying to find out if we can change our contact details but I have been told that credit checks will done (not that this is a problem for us) but it may not be possible to change our details as they know we live here.

I am sitting here getting very hot and bothered over this stupidity. They are shooting themselves in the foot doing this.
What in the world do they think they are going to gain by thousands of pensioners who get their pensions paid into their UK Barclays accounts being kicked out.
 

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Discussion Starter · #2 ·
Dennis is on the phone to the department at Barclays that is dealing with this matter.
Apparently you need at least 100K in your account for it to be kept open.:mad:
 

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In the UK papers reporting on the Greek crisis Cameron is quoted as advising expat s to have their pensions paid into UK accounts .... maybe he should be made aware of banking practises; I gather from other posts Barclays aren't the only bank doing this.

Pauline
 

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Discussion Starter · #4 ·
We have been told by Barclays that they are streamlining to give more clarity. They are removing several countries but adding more so how that is streamlining is nonsense to me. The stupid thing is that Greece is not being removed but Cyprus is.
What rubbish is that.?
 

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Difficult to know what to do and where to keep your money if you have under £100k
Opening an alternative bank account in the UK is not possible unless you have an address there.
The limit of the bank guarantee (for all UK banks) has been dropped to £70k as well
 

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Discussion Starter · #6 ·
As far as our personal banking is concerned it isn't a huge problem as we will simply get everything transferred here.
The main problem is that I will no longer be allowed to monitor my mums accounts online as she wants me to do. I have authorisation to monitor her accounts online but that is going to be stopped. She is very upset about it.
 

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The main problem is that I will no longer be allowed to monitor my mums accounts online as she wants me to do. I have authorisation to monitor her accounts online but that is going to be stopped. She is very upset about it.
We have a Current Account and a Deposit Account with Barclays. Before leaving UK, we changed our address to our daughter's house (Plymouth, Devon) and all correspondence is sent there. She then scans and sends me anything I may need to see.

We use internet banking all the time and transfer from Barclays to Hellenic via Currency Fair as necessary.

I don't understand how you will be prevented from monitoring your mother's account online? People on holiday or customers on business abroad must surely be able to log in as necessary and conduct their business? What about using a VPN to mask your IP address showing up as Cyprus?
 

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This is worrying information Veronica. I am with Barclays too, but haven't had any letter like this from them yet.

I've been with Barclays for 11 years and its the only UK bank account I have. Many of my clients pay into that account and I will not be pleased to loose the account :/
 

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Discussion Starter · #9 ·
This is worrying information Veronica. I am with Barclays too, but haven't had any letter like this from them yet.

I've been with Barclays for 11 years and its the only UK bank account I have. Many of my clients pay into that account and I will not be pleased to loose the account :/

We havnt had the letter yet either but apparently it is on its way. I only found out because my mum had a letter saying either I am taken off her accounts or they have to be closed.
 

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I am honestly very concerned about this. I have over £20k in my Barclays account and as you know, am adding to that quite significantly every month in preperation for next year.

Many of my clients pay into this account - its the only UK account I have and I do not know if those clients who pay into that account would be willing to send money internationally, or via PayPal, so I stand to loose income.

Furthermore, due to the fluctutations in the euro currency, the idea of keeping all of my savings in Euros locally rather than pounds is not something that appeals to me.

Not to forget the fact that the Cypriot banks continue to invoke feelings of nervousness............
 

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Would you believe it , when the haircut came in 2013 the uk gov recommend expat pensioners opened an account in the uk with guess who ..... Barclays .

" Customers who do not currently have another bank account may wish to open one. HM Treasury have also worked with Barclays to put in place a process so that individuals can open a bank account quickly if they wish to do so."
 

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Maybe the UK government can step in again to either stop Barclays from shutting down our accounts or sort out a deal with another UK bank so we can transfer our accounts over..........

Worth contacting the embassy about?
 

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As far as our personal banking is concerned it isn't a huge problem as we will simply get everything transferred here.
The main problem is that I will no longer be allowed to monitor my mums accounts online as she wants me to do. I have authorisation to monitor her accounts online but that is going to be stopped. She is very upset about it.
This sounds a crazy situation all round! Like David, I don't see how this would stop you being able to log in to check on your mum's account though. If you are not actually named on the account, your mum could just as easily give you the logon info and you could do that without their knowledge.
 

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Discussion Starter · #14 ·
This sounds a crazy situation all round! Like David, I don't see how this would stop you being able to log in to check on your mum's account though. If you are not actually named on the account, your mum could just as easily give you the logon info and you could do that without their knowledge.
Not possible. My mum has no idea at all about the internet and once my account is closed my debit card which I need to use in the pin sentry to get the access code for the account will be disabled.
 

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Discussion Starter · #15 ·
Well we have opened a sterling account with the Bank of Cyprus which was no problem at all. They were appalled at what Barclays is doing.
The hard part seems to be getting pensions companies to pay into any account here
It is a nightmare explaining to them what has happened and getting them to actually agree to pay into a Cyprus account.
We havn't yet contact the DWP about our state pensions. Hopefully that will be easier. :fingerscrossed:
 

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Having read all that people are saying here, I have today rung Barclays bank and having gone through the security questions, given them my current account details, I have been categorically told there is nothing on the system or my a/c which shows that Barclays will be closing my a/c and the lady I spoke with, having conferred with colleagues, say they know nothing about this at all and there is nothing on their system about it!!! As I use this a/c for my pensions to come into and it is vital to me to know what is happening. If anyone has any further comments, I would be interested to read them!
 

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Discussion Starter · #17 ·
Having read all that people are saying here, I have today rung Barclays bank and having gone through the security questions, given them my current account details, I have been categorically told there is nothing on the system or my a/c which shows that Barclays will be closing my a/c and the lady I spoke with, having conferred with colleagues, say they know nothing about this at all and there is nothing on their system about it!!! As I use this a/c for my pensions to come into and it is vital to me to know what is happening. If anyone has any further comments, I would be interested to read them!
If you have a UK address or over 100k in the account you will be ok.
 

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I don't have a UK address and I don't have over 100K. It is an ordinary current a/c into which my pensions go. I was told categorically they knew absolutely nothing about this and nothing on their system!
 

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Discussion Starter · #19 ·
This is really getting me very confused.:confused:
Our account is also for our pensions to be paid into. Why are we being picked o n and you are told you are ok?
 

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Discussion Starter · #20 ·
My husband is now trying to talk to Barclays again to get to the bottom of this.
It'll be a matter of sitting waiting in line to talk to some faceless person in some dark office somewhere who will know at all.:mad:
 
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