The British Bankers Association (BBA) has waded into the debate on British expats' access to onshore bank accounts, pointing to difficulties obtaining personal information as a key reason for its members' reluctance to embrace offshore savers.
Its comments come in a letter to the Landsbanki Guernsey Depositors Action Group (LGDAG) which is calling on the government, banks and building societies to review the "commercially driven" practice of denying UK bank accounts to British expats. Angela Knight, BBA chief executive, confirms in the letter there are no legal barriers or regulatory requirements preventing the offering of cross border services and some banks offer these services based on their own commercial considerations. "These banks may impose additional conditions and in some instances higher charges," the letter reads....
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