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Banking giant Barclays to close all accounts of Brits living in Austria

UK nationals living in Austria have begun to receive letters from their bank telling them that their accounts will be closed, in an apparent post-Brexit change.

Banking giant Barclays to close all accounts of Brits living in Austria
Barclays has confirmed it will close the accounts of those in the EEA. Photo by Tolga Akmen / AFP

Customers of Barclays Bank who are living in Austria have been receiving letters telling them that their UK accounts will be closed by the end of the year. There appears not to be an option to register for a different account.

Numerous readers of The Local have contacted us to report receiving either letters or messages in their online banking telling them that their accounts would be closed because of their residency in the EU.

A Barclays spokesperson told The Local:As a ring fenced bank, our Barclays UK products are designed for customers within the UK.

“We will no longer be offering services to personal current account or savings customers (excluding ISAs) within the European Economic Area. We are contacting impacted customers to give them advance notice of this decision and outline the next steps they need to take.”  

READ ALSO: Ask the expert: What are the best UK banks for Brits in Austria?

Customers are being given six months to make alternative arrangements. The changes affect all personal current accounts or savings accounts, but do not affect ISAs, loans or mortgages.

During the Brexit transition period Barclays closed Barclaycard accounts of customers in the European Union, but did not indicate any changes to standard bank accounts.

Around the same time several other British high street banks began closing accounts of British customers who live in the EU, although with the exception of Barclaycard customers in Austria were largely spared.

READ ALSO: Reader question: Do I need to open a local bank account when moving to Austria?

UK bank accounts for EU consumers

Many UK nationals who live in Austria maintain at least one UK bank account – in addition to an Austrian account – sometimes just for savings but others use their accounts regularly to receive income such as pensions or income from rental property or – for remote workers – to receive income for work done in the UK.

Not having a UK bank account can make financial transactions in the UK more complicated or incur extra banking fees.

Since Brexit, the UK banking sector no longer has access to the ‘passporting’ system which allows banks to operate in multiple EU countries without having to apply for a separate banking licence for each country.

And it seems that many UK high street banks are deciding that the extra paperwork is not worth the hassle and are withdrawing completely from certain markets. 

READ ALSO: What you need to know about opening a bank account in Austria

When British banks began withdrawing services from customers in the EU back in 2020, a UK government spokesman told British newspaper The Times that “the provision of banking services is a commercial decision for firms based on a number of factors” so Brits in Austria probably shouldn’t hold their breath for any help from that direction.

 

Member comments

  1. i guess everyone will be switching to Transferwise (now known as Wise). I’ve been using it for years as an American, and is just the easiest and cheapest way to receive funds.

  2. This is not new news! Barclays contacted me over a year ago, and told me that I could not register my UK bank account to a French address, and that unless I provided a UK address, then the account would be closed. I provided a UK address.
    It appears that to date they have done this for changes in status, and that now they are doing it for everyone.
    Yet another example of UK banks demonstrating zero customer service, and having a total focus on cost, cost, cost.

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LIVING IN AUSTRIA

Eight habits that show you’ve embraced life in Austria

Living anywhere as an international resident will have an impact on your life, but if you recognise any of these habits then you have truly embraced the Austrian lifestyle.

Eight habits that show you’ve embraced life in Austria

Life in Austria can be similar to many other European countries, but there are some aspects that are distinctly Austrian.

Here are eight habits that show you’ve integrated into the Austrian way of life.

FOR MEMBERS: 23 essential articles to help you navigate life in Austria

Indulging in coffee and cake

Coffee and cake is almost as integral to the food culture in Austria as the Wiener Schnitzel.

So say goodbye to the diet, ignore any thoughts of guilt and get stuck into a slice of Sachertorte, Punschkrapfen or Linzer Torte

Preferably with a delicious coffee on the side.

READ MORE: Caffeine, war and Freud: A history of Vienna’s iconic coffee houses

Participating in winter sports

Austria, especially the west of the country, is a winter sports enthusiasts dream.

The Alps offer an almost endless choice in ski resorts, gondolas and mountain huts, with winter sports options ranging from skiing and snowboarding to snowshoeing and Langlaufen (cross-country skiing).

Needless to say, if you live in the Alps, winter sports quickly become a central part of the lifestyle during the cold months. After all, it’s healthy, fun and even a bit dangerous (if that’s your thing).

It’s also a great way to explore the landscape of Austria and get a deeper understanding of the central role of winter sports in Austrian culture.

Downing tools for lunch

Lunch in some other countries (especially places like the UK) is often a sad sandwich while sitting at a desk. 

In Austria however, lunch is an important part of the day and many people sit down at midday with their colleagues or families to enjoy a proper cooked meal.

This is a prime example of the healthy work-life balance that residents in Austria enjoy, and is a much-better habit to embrace than working through a lunch break.

Wearing house shoes

In most Austrian households, people do not wear outdoor shoes inside. Instead, they opt for house shoes, otherwise known as slippers in English or Schlapfen in some Austrian dialects.

Also, many Austrian homes do not have carpet on the floor, which means walking around with bare feet or just socks in the winter can get cold – fast.

So if you’ve invested in a pair of house shoes or, even better, you have a backup supply for guests, then you have fully embraced life in Austria. 

READ ALSO: ‘I’ll probably return to the UK’: Moving to Austria as a Brit post-Brexit

Being punctual

Typically, Austrians are punctual people and don’t appreciate lateness.

For this reason, many international residents make an extra effort to be on time (or early), and it’s not uncommon to become stressed if you know you will be five minutes late.

As frustrating as this can be, it’s actually incredibly polite to be early for a meeting and not a bad habit to pick up.

sparkling water

(Photo by Giorgio Trovato on Unsplash)

Drinking sparkling water

People like to drink sparkling mineral water in Austria.

In fact, sparkling water is so popular that if you order a Mineralwasser (mineral water) in a cafe or restaurant, the sparkling variety is often served unless stilles Wasser (still water) is specified.

Want to be more Austrian? Then simply switch from still to sparkling water.

Stripping off

Countries in Central Europe are much more comfortable with nudity than other nations, and it’s no different in Austria.

The main place to expect an encounter with naked people in Austria is at the sauna. There are even some saunas that have a naked-only admission policy and won’t let people in if they are wearing swimming gear.

People also like to get naked at lakes – especially at the more remote or quieter locations – or at least go topless (for the women). 

The reality is, no one bats an eyelid. So put your prudish instincts aside and don’t be afraid to strip off.

READ ALSO: What are the rules on working overtime in Austria?

Taking sick leave

Employees in Austria are entitled to six weeks of paid sick leave (the number of weeks increases the longer the worker has been employed in the same company).

This means workers are more likely to take sick leave if they are unwell, rather than dragging themselves into the workplace and infecting their colleagues.

The downside though is that Austria has strict rules when it comes to taking sick leave with explicit orders to stay at home. Workers can even expect to be monitored by private detectives to make sure they really are resting at home, as reported by The Local.

For international residents in Austria, this can be hard to tolerate. But the upside is that you’re not expected to show your face in the office when sick, simply to comply with a culture of presenteeism.

And that’s a habit worth embracing.

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