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Are UK banks reducing services to clients abroad?
A reader from Charente has written in with concerns about the Cooperative Bank in the UK ending the right to have standing orders for regular payments to accounts in countries, such as France, with other currencies
Colin Parfitt asked if it might also apply to other banks and be a sign that UK banks are reducing services to French residents.
Mr Parfitt said the bank told him it was taking the action as a ‘simplification’ of its services.
He said: “Each month the bank converts X pounds to euros and sends them to our BNP Paribas account.
“It’s annoying because it has been easy for us to have our monthly pension sent this way for many years.”
A spokesman for the bank confirmed the service will end on March 31, 2018.
“The number of regular payments made this way has significantly reduced over the last 12 months to a level that means sustaining the service is no longer viable for the bank.
“Those impacted have been contacted and given details on alternative ways payments can continue to be made.”
He said standing order payments after March 31 would be cancelled but customers may still telephone to arrange one-off payments. “Some customers can also make their payments online to the most popular country destinations, including France.”
Connexion checked other banks’ policies and also asked if they were reducing any other services to customers in countries such as France or had recently done so (none said that they were).
Bank of Scotland said they offer this service and have no plans to change.
HSBC said customers may set up recurring payments to a bank abroad using their International Payment service (there is a £4 payment fee per transfer, unless to another HSBC account).
Barclays said customers with standing orders already set up may continue as normal, however they have not been accepting new foreign standing order requests for around 10 years.
Lloyds Banking Group (including Halifax and Bank of Scotland) have not offered the service since 2005.
Nationwide said they are a UK-only building society and have never offered foreign standing orders – the only option is individual SEPA payments at a fee of €9 each.
Have you noticed any change in UK banking services offered to French residents? Tell us (in confidence) at news@connexionfrance.com
