French banks are not closing accounts of UK residents

French banks are not closing accounts of people in the UK, after some British banks shutting accounts of Britons in France

Connexion journalist Connexion journalist

Published Wednesday 03 March 2021 - 11:09 Modified Wednesday 03 March 2021 - 11:09

Several readers have asked if French banks are closing accounts of people in the UK after some British banks shut accounts of Britons in France.

The Connexion has not heard any cases of this happening.

An adviser at an LCL bank in Paris who manages accounts for UK nationals said the bank was not closing any accounts.

This was also confirmed to be the case with Crédit Agricole.

The LCL adviser said: “Our UK customers will not notice any difference. We are not going to ask for new documents, or anything like that.

“Having said that, Brexit does mean Britons who do not have French residency will now have to follow the same rules as all other non-EU nationals.

“It will make it more complicated for them to get a loan, for example.”

One popular simple bank account is also no longer available to British tax residents to open new accounts.

A spokeswoman for Compte Nickel, which runs via tabac shops, said it would now be a problem to open an account for someone living in the UK, but it does not expect to close existing accounts.

Although the bank stresses the simplicity of opening an account – you only need an email address, mobile phone number and passport – the spokeswoman said the form for opening the account includes a section on where you live.

People must be tax-resident in the EU, Switzerland, Liechtenstein, Norway or Iceland.