Icelanders' bank accounts closed
Barclays and UBS have closed Icelanders' bank accounts. AFP/Fabrice Coffrini
According to Morgunblaðið's sources, there are rumors that Icelanders' bank accounts in foreign banks are being closed at short notice.
There are examples of Icelanders residing in Switzerland who have had banking transactions with the Swiss bank UBS and had to close their accounts when they moved to Iceland. Understandably, it is a change for the bank that an individual moves their legal residence to another country, but it seems that the terms apply to Icelanders more than others.
Morgunblaðið also has sources that the British bank Barclays has closed the accounts of Icelanders who were registered as residents in Iceland when they opened an account with the bank and have had it for many years.
It therefore does not appear that it is the registration between countries alone that has this effect.
In the announcement from Barclays, which Morgunblaðið has in its possession, it is clear that there is a change of policy within the bank and that it will not provide services to Icelanders. The letter specifically states that the bank will cease servicing Icelanders.
The banks claim bank secrecy when contacted and refer to general internal rules to explain these ordered closures of Icelanders' accounts.
Morgunblaðið, however, has quoted a source as saying that according to a conversation with their bank about the ordered closure of accounts, the bank referred to the fact that Iceland does not comply with the bank's own money laundering rules and that it is not justifiable to allow registered parties in Iceland to have accounts with the bank abroad. Iceland is therefore listed on an internal blacklist.
Morgunblaðið contacted the Central Bank of Iceland, which was not aware of this problem nor that Iceland was on any such blacklists.
