If nothing else having to do more paperwork is very common.
British banks tend to not open accounts for people abroad because of the cost of KYC, and they even close accounts if you move abroad. Difficult if you have assets or a pension in the UK but live abroad. As you say, it makes it very hard for people who move around.
There are definitely political biases in closing bank accounts in the UK, and many cases of accounts being closed because banks did not like someone's politics. Not even fringe political views, associations with the previous government's part has caused problems in some cases, and definitely association with smaller but significant parties.
People also avoid taking on jobs that might make them "politically exposed persons" because the rules are too broad, and that (although it affects only a few people) does a great deal of damage because it reduces the number of people from outside in organisations, which worsens governance and corruption.
> If nothing else having to do more paperwork is very common.
British banks tend to not open accounts for people abroad because of the cost of KYC, and they even close accounts if you move abroad.
How are their so many non-dom retirees if that's the case? They have to have some sort of income.
As patio11 made abundantly clear in his article, banks are not homogeneous in their preferred customers, their ability to serve specific needs or their tolerance for risk. It may well be true that some banks don't like non-resident customers, but many banks offer products specifically tailored for these customers.
The term "non-dom" usually means foreigners in the UK making use of the tax dodge. In that case, British banks are happy to open accounts for them, especially as they are rich.
Some accounts will be opened for other foreigners in the UK - sometimes the "basic" accounts .
British banks tend to not open accounts for people abroad because of the cost of KYC, and they even close accounts if you move abroad. Difficult if you have assets or a pension in the UK but live abroad. As you say, it makes it very hard for people who move around.
There are definitely political biases in closing bank accounts in the UK, and many cases of accounts being closed because banks did not like someone's politics. Not even fringe political views, associations with the previous government's part has caused problems in some cases, and definitely association with smaller but significant parties.
People also avoid taking on jobs that might make them "politically exposed persons" because the rules are too broad, and that (although it affects only a few people) does a great deal of damage because it reduces the number of people from outside in organisations, which worsens governance and corruption.