Brexit

We would like to update you on our preparations for the departure of the United Kingdom (UK) from the European Union, commonly referred to as the Brexit.

ABN AMRO is well prepared to continue serving you as our client. The UK has left the EU with a withdrawal deal and the transition period is started. During this transition period there will be negotiated a trade deal and the UK will have to follow all EU rules. Regardless of the result of the negotiations, ABN AMRO will continue to do its utmost in order to minimise any potential negative consequences for you as a client.

We can easily imagine that you may have several questions due to the current uncertain situation regarding Brexit. Several such potential questions are given below as well as links to websites of the Dutch government and the Dutch Association of Banks with additional information.

Frequently Asked Questions

Brexit refers to the departure of the UK from the European Union. The name Brexit comes from the English words Great Britain and exit.

The United Kingdom was originally to leave the EU on 29 March and after an extension thereafter on 12 April. However, the British Parliament did not approve the withdrawal agreement. The 27 remaining EU countries and the British government have therefore decided to postpone the Brexit date until 31 January 2020 or earlier if the UK parliament has approved the withdrawal agreement.

No, that is not necessary. The United Kingdom will continue to be part of the European region in that regard even if the United Kingdom leaves the European Union. In the UK, you will be able to continue to withdraw money from cash machines using your debit card as usual as well as for making purchases in shops.

In March 2019, the European Payments Council decided that in case of a ‘No deal Brexit’ the UK remains part of SEPA: euro payments between the EU and the UK will be executed according to the SEPA rules. For SEPA Credit Transfers nothing changes.
When you are a SEPA Direct Debit creditor and submit SEPA Direct Debit instructions, please take into account that the UK in case of a ‘No deal Brexit’ is no longer part of the European Economic Area (EEA). For SEPA Direct Debit instructions for a debtor account in a non-EEA country, not only the debtor’s name is mandatory, but also the debtor’s full postal address. Please remember to submit these data. ABN AMRO does not perform any validations on the presence of the debtor’s postal address, but the debtor’s bank does and might reject SEPA Direct Debit instructions for which the debtor’s postal address is missing or incorrect.

In March 2019, the European Payments Council decided that in case of a ‘No deal Brexit’ the UK remains part of SEPA: euro payments between the EU and the UK will be executed according to the SEPA rules. For SEPA Credit Transfers nothing changes.

When you are a SEPA Direct Debit creditor and submit SEPA Direct Debit instructions, please take into account that the UK in case of a ‘No deal Brexit’ is no longer part of the European Economic Area (EEA). For SEPA Direct Debit instructions for a debtor account in a non-EEA country, not only the debtor’s name is mandatory, but also the debtor’s full postal address. Please remember to submit these data. ABN AMRO does not perform any validations on the presence of the debtor’s postal address, but the debtor’s bank does and might reject SEPA Direct Debit instructions for which the debtor’s postal address is missing or incorrect.

Brexit update

02/04/2020 
Brexit is happening – what this means for you

Information on Brexit and investments

The Brexit could have consequences for certain investments in investment funds if no additional agreements are entered into with the UK. We have listed a couple of frequently asked questions.

News articles from ABN AMRO UK

Read our most recent news articles about the Brexit at ABN AMRO UK.

Do you wish to stay updated?

We will update this page frequently in the following period. If you have any questions, please contact us via  +31 (0)20 343 40 02  (Monday to Friday from 8am - 8pm, closed on Saturday and Sunday) or via your usual adviser.