Brexit

The United Kingdom (UK) left the European Union (EU) on 31 January 2020 and is currently in a transition period that will end on 31 December 2020. As set out in the withdrawal agreement, the relationship between the EU and the UK will enter a new phase on 1 January 2021.

> The latest news about Brexit

The UK’s decision to leave the EU changes the passporting rights that allow the bank to provide financial services in the UK. British regulators have given the bank temporary permission to perform its regulated operations in the UK. This temporary permission still means that certain rules apply to British clients in addition to the ones applying in the Netherlands.

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.

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

21/12/2020 
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.