Expats living in Cyprus and Malta have been told by Barclays that their accounts will be closed unless they hold £100,000.

Letters have been sent to thousands of expats over the past week, and many fear they will struggle to open another UK bank account.

Barclays says they need to hold a minimum balance of £100,000 in their accounts by September 11.

Customers in Greece are also set to receive letters in the coming weeks.

Some letters to expats in Cyprus have already been issued to those who are affected and state: "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."

A spokesman for the bank said more letters will be issued in due course to expats who reside in a country that Barclays is no longer focusing on.

The spokesman added that the bank has previously announced, in 2013, that it would focus on 70 countries globally.

Customers in those that are not considered as "core" as others, such as Cyprus, will have their accounts closed unless they have more than £100,000.

 

But angry expats who have spent years as loyal customers of the bank say they feel betrayed. Many say they have been told they must have a UK-based account to receive their British state pension.

Many may not be able to set up a new account because they do not have an address in the UK, which is usually necessary.

David Hosie, 74, who lives in Paphos, Cyprus, says: 'It seems Barclays only wants to attract wealthy customers. It has no interest in loyalty.'

Another woman from Limassol says: 'It's an extra worry. Surely my account costs Barclays nothing to run. I have no standing orders or direct debits, and I don't use online services.'

Barclays says: 'In 2013, we announced our priority to cut complexity and said that the business would focus on a core set of 70 markets globally. 

'As a result, Barclays has introduced a new minimum threshold for customers resident in Cyprus.'