uk banking any easier?

[lindsay]

On Sept 18 the new Payment Accounts Directive will come into force in the UK. An eu directive which is presumably valid since we are definitely in until we are definitely out

It says that it will be easier for uk non resident expats to open a basic bank account. You dont need to be a uk resident and you dont even need a fixed address if you are aplying in the uk.....thats what they say.

Sounds too good to be true after many recent tales of woe about wrestling with the box tickers demanding the ubiquitous utility bill.

Anyone know anything about how it is being applied by major uk banks?

 

[macd]

Anyone know anything about how it is being applied by major uk banks?

No idea, but I imagine they'll go their own sweet way unless the directive has real teeth. UK financial regulations don't require a fixed address, anyway, but almost all banks conduct themselves as though they do.

 

[Mikedefieslife]

Not heard of this.

As someone who travels a lot, banking can be a real pain. My main account was almost closed whilst I was in Morocco, as letter sent by the bank to my address was unable to be delivered due to junk mail clogging up the mailbox. Bank cards can only be sent to a customers registered address too, so I've had fun sorting those out and making sure none are due to expire in the next 6 months or so during a trip.

 

[macd]

It seems I may have been unkind to the banking industry in post #2.

This morning I received an e-notice of change of banking conditions from Nationwide. It includes the following, which may well relate to the OP's information:
[I]Payment Accounts Regulations 2015. We've made some changes to the Terms and Charges leaflet because, from 18 September 2016, consumers who are legally resident in the European Economic Area (EEA) (and who may live outside the UK) will be able to apply for a FlexBasic account. [/I]

If I have in any way portrayed banks as anything but kind, helpful and accomodating, I unreservedly apologise and withdraw any such inference. Needless to say, I am mortified at my rush to judgement.
Breakfast today will be bacon, which just fell from the sky.