To ask the Chancellor of the Exchequer, what estimate she has made of the number of UK bank accounts held by UK citizens living in European Union member States that have been closed since the UK's withdrawal from the European Union.
Answered on
22 July 2024
The Government recognises the importance of a bank account for day-to-day life and understands the frustration of UK citizens living in the EU who have had their accounts closed.
The Government does not hold statistics on account closures for UK citizens living abroad. UK banks take these decisions on closures according to a variety of factors including the local law and regulation in individual countries, an assessment of profitability, or other commercial drivers.
Some UK banks offer specific accounts aimed at citizens living abroad, which may provide an alternative option. People who have had their accounts closed may also wish to refer to MoneyHelper - which offers free, impartial guidance on financial decisions - for further advice on their options.