Wise Banking - Page 2

JanB wrote on Tue Aug 23, 2022 7:49pm:

Thanks for your reply Karen. I have tried to contact Wise, but think they may be overwhelmed with people having to open accounts due to the UK stopping us using UK banks (Barclays!!!) Was also trying to find out if they were reliable, some posts on their FB page call them scammers. I really don't...

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... want to lose access to UK transactions as I have to return for visits to see elderly relatives, but also need to access my money here in Spain. Really annoyed that UK based banks are stopping us using their services, especially as Ive been a customer for ovrer 20 years!!

Lmj18 wrote on Wed Aug 24, 2022 10:38am:

Just like to reiterate the positive experience with Wise. I’ve used them for years.

One thing I would say, is complete any money laundering paperwork well before you need to use them. it saves time in the future, also if you intend sending a large one off payment, contact them and you can get a better rate.
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We’ve used them for large amounts, regular payments, have their card so can use in many currencies when needed. good luck. 

PuffTheMagicDragon wrote on Wed Aug 24, 2022 10:40am:

Of course there are still banks in Britain that we expats can use, I was with Yorkshire Bank, and my wife the Clydesdale Bank, both were part of the National Australian Bank group, which has now been taken over by Virgin Money, and our accounts have not been affected. These are not the only banks...

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... available to expats, we've just never had the need to look for any others.

MaggieB wrote on Wed Aug 24, 2022 10:44am:

You can open a HSBC account.  Ask in the bank or go online.  We use Cajamar Wefferent account for banking in Spain. No fees and easy to use, and then Wise for money transfers.

em68 wrote on Wed Aug 24, 2022 11:48am:

Another possibility might be Starling. They accept non-uk tax residents as long as they have a UK address.  In addition it’s possible to open a Euro account using the same card, which has its own IBAN number and can be used in Spain without charge. The exchange rate they offer from their U...

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...K account to euro account is the interbank rate although there is now an administration charge. They certainly accept payments in from both EU and UK sources and the app makes it extremely easy to see what you have spent when and where. I now use it for everything although I still have a Nationwide account in UK and Cajamar wefferent  account in Spain. However I should add that some Spanish utilities are reluctant to accept an IBAN number from a non-Spanish account. I suspect that may be because they wouldn’t have the same ability to withdraw money from your account without your agreement!

JanB wrote on Wed Aug 24, 2022 11:48am:

Sorry to sound stupid, but what do mean by "money laundering paperwork" please

Lmj18 wrote on Wed Aug 24, 2022 11:59am:

You have to prove where the money comes from, your identity etc. Wise website explains everything. 

JanB wrote on Wed Aug 24, 2022 11:56am:

Thank you em68. I don't know anything about Starling, but unfortunately I do not have a UK address, and Nationwide made me close my account (had it for about 20 years) when I gave them my Spanish address - said they were unable to let me hold a UK account if I didn't live there.