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Olive Press News Spain
EU regulations no longer apply to certain operations after Brexit
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SEVERAL high-street Spanish banks have begun charging a fee for receiving money transfers from the UK.
Nicole Chandler, 71, is a client of a major financial company on Denia’s Marques de Campo street. She contacted
The Olive Press to warn other British expats about new charges being levied on receiving pensions and transfers from Britain after Brexit.
“I have been informed by my advisor that I now have to pay €15 for my private pension from the Bank of England and €15 for my State pension every month,” Nicole told us.
British expats in the EU face financial headaches as European banks hike international payment fees and British ones close their accounts George Nixon For Thisismoney.co.uk © Provided by This Is Money MailOnline logo
Thousands of UK expats living in Europe face having to revamp their finances in the aftermath of Brexit as British banks close their current accounts and European ones hike the cost of sending money overseas.
Customers of some of Britain s biggest banks including Barclays, Lloyds and Nationwide Building Society living in Belgium, Italy, the Netherlands and Portugal have either already had their bank accounts closed or will see them shuttered in the next few weeks.