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3 Aug 2017

Barclays Bank Asks Nigerians With Less Than £100,000 Deposit To Close Their Accounts


Barclays bank,a top bank in United Kingdom has asked Nigerians,
expatriates with less than £100,000 deposit to close their accounts.

In a letter dated June 12,
2017, the bank informed
their customers of the new
policy and asked them to
increase the minimum
client balance requirement for international banking

The letter read, "The new minimum level will now be £100,000. Top up
your savings and investments to £100,000 or more before 1 August 2017,
to continue with the service, or close your
account and transfer your
monies to another provider
without charge,"

"We understand that you
may be disappointed by
this and we will aim to
offer you as much assistance as possible during this transition period."

According to reports, the
new policy might have
been caused by the Panama
Papers leak, which showed
how Panamanian law firm,
Mossack Fonseca, helped clients evade tax through
the use of offshore accounts
and various cases of money

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