Understand the new EU rules on cross-border bank accounts

Residents of France are now able to open accounts with British banks thanks to an EU directive which was transposed into British law last year – however the details of the rules have caused some uncertainty. Here we look at issues readers have raised.

I asked to open a savings account but was refused as I am a French resident – why, if I have the right to one?

The regulations do not require banks to allow residents in other EU countries to open every kind of bank account and they do not apply to every British bank.
The rules require non-discrimination on place of residence for opening a ‘basic account’. This is defined as a sterling denominated ‘payment’ account with simple features – the possibility to pay into and out of it, to pay bills, to make payments ...

To read the remaining 85% of this article, you need to either

Subscribe now to The Connexion and benefit from access to our archived articles since 2006

3 Year (Our best value offer)

3 years of great reading in print and online

17% discount on the price of a 1 year subscription

Subscription automatically renews so you don't miss an edition. You can switch this off in the 'My Account' tab which will appear top right of site once you are subscribed

1 Year

1 year of great reading in print and online

Subscription automatically renews so you don't miss an edition. You can switch this off in the 'My Account' tab which will appear top right of site once you are subscribed

Freedom Subscription

Pay every three months. Our most flexible subscription

Subscription automatically renews so you don't miss an edition. To stop your subscription, you just switch off the automatic renewal function in the 'My Account' tab which will appear top right of site once you are subscribed

More articles from Money
More articles from Connexion France

Loading some business profiles...