Thousands of Brits residing in the EU have been informed by UK banks that their EU-based bank accounts will soon be shut.

A range of British banks, including Barclays, Halifax and Lloyd’s, have told UK citizens living in the EU that they will no longer be able to have and use their account in member states, primarily in Spain, France and Germany.

They have been told they can only keep their UK bank accounts if their permanent address is in the UK, so if they are deemed living permanently in Britain, according to the international news site Expat.

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