By Chris Evans
A few years ago Barclays Bank did the reputable thing and led a marketing campaign across Europe informing expat customers their accounts in the UK would be closed. The campaign was sketchy about non-EU countries. It was a warning of events that have affected many in Didim in recent months.
My own story was simple, but odd. I left the UK in 2007 to live in Saudi Arabia. Before I left, I set up an offshore account with the Royal Bank of Scotland. I was their first customer in the Middle East. A trip to Dubai saw my bank manager be the only one who has ever bought me lunch. The team in Dubai are still friends, even though they’ve all moved on and the office closed.
Last August, I received an email. “Your account will be closed in 7 days.” I called and was told Turkiye was on the red list, so my account had been closed. Not a problem, as I was negotiating a position in Abu Dhabi. Nope, that was on the red list, too.
After discussion, it became clear my offshore account was only valid if I lived in the UK, Channel Islands, or the Isle Of Man. So much for international. I’m not an MP, so working and living in the UK with an offshore bank account would never be an option. I had other solutions, so decided not to fight a losing battle. It never occurred to me things would become worse for others.
I’m very lucky. I get to experience many things while researching stories and meet a lot of wonderful people. Over the past few weeks, I’ve seen a terrifying trend. Expats are seeing their UK accounts closed with no advance warning. This isn’t just affecting those who live here full time. It’s affecting others who only spend part of the year here.
I have heard horror stories over the past few weeks. Meeting pensioners who were expecting their monthly payment only to find they’d been left high and dry by Royal Bank of Scotland, Nat West, and Santander amongst others, closing their accounts with no notice was heartbreaking. I am sure all of them are grateful to both expat and Turkish friends who jumped in to help.
I was told by one couple that they’d had spoken to the pension service in the UK. A Government department seemed to know more than the banks and are doing everything they can to change bank details and speed up the payment process. I have called the media department of the pensions service, who were exceptionally helpful. They are as disgusted with the banks as many of the rest of us. Yet, they are the ones moving mountains to try to help.
For the record, the couple I spoke to had been left with TL65 in their pocket with no access to their own money. It’s why our community matters. People jumped in to help for the week it would take for their UK pension to be paid into their Turkish account.
Leaving pensioners penniless is horrific. The banks in the UK have a lot to answer for. Maybe the latest Nationwide TV advertisement sums it up. “It’s doesn’t say banker!”
I also called RBS/NatWest for a comment. It took six hours of calls. I finally received the official line. “It’s because of Brexit.” That’s odd as Turkiye is yet to become a member of the EU. This common cover all excuse has to stop. It is UK banks trying to save money. There is no other viable reason. They don’t care about pensioners who rely on their services. That’s just collateral damage.
A few surprising things have occurred during my research for this article. The UK banks are closing accounts that run an overdraft. What encouragement, or help, is there for people to pay off these overdrafts?
The second was how well the UK Pensions Service is working in the UK. We all hear of government departments being slow and cumbersome. Clearly, the UK Pension Service isn’t. It deserves huge credit for doing everything in its power to help people.
Third, and most importantly if you’re a pensioner, the UK Pension Service will pay to a Turkish bank account. It takes an extra couple of days, but after the first payment, it will settle into a regular rhythm.
None of the people I spoke to for this article had received any notice from their bank in the UK. In fact, most had used a card transaction the day before their account was closed. Hardly the behaviour of people who’ve made alternative arrangements. Sadly, AI clearly isn’t smart enough to spot the obvious and bank employees are stuck in a rut of “The Computer Say No.”
Finally, the Turkish banks will welcome you with open arms. They are also far more transparent than UK banks. Turkiye may have economic issues, but as a nation, they care about people. Every bank I contacted spoke to me and welcomed expat accounts. The reason is understandable from an economic viewpoint. From a human perspective, I’ve seen a lot of care and willingness to help.
The stories I’ve heard and the people I’ve met who have been affected have truly moved me. There was plenty of time for the UK banks to contact customers, but they found every excuse not to do so. Profits and the computer screen come before people. It’s your money, not theirs. The attitude of the banks in the UK makes me embarrassed to be British.
If you are in any doubt, please contact your UK bank as soon as you can. I’ve seen a lot of pain in the past few weeks. People have suffered through no fault of their own with absolutely no communication from RBS, NatWest, and Santander, amongst others.
If you are a pensioner, you can contact the UK International Pension Service on +44 191 218 7777. You will need your National Insurance number and to answer some security questions. Don’t worry, they aren’t difficult. I called on another issue, I was asked my wedding date, which confused me. Thankfully, the answer of “I’ve never been married” was correct!