What it means for you

For our UK-resident customers, there is no change to your everyday banking services.

For our EEA-resident customers, our aim is to continue to provide you with the same service as we do today, where we are permitted to do so. Should anything need to change, we will let you know, ensuring you have as much notice as possible.

As our business is largely UK-focused, the impact on NatWest is not as significant as it is for many other banks.

We’ve already made changes to the way we’re organised to ensure we can continue to serve customers from 1 January 2021. 

Our Ulster Bank Ireland DAC business will continue to provide services for our customers that live, invest and do business in the Republic of Ireland.

We continue to work closely with the UK Government to help us understand what the future UK-EU relationship means for the Financial Services sector.

The Withdrawal Agreement sets out the terms of the UK’s exit from the EU, including provisions for a transition period until 31 December 2020.

Yes. There should be no change to how you make and receive payments to EU countries. And, of course, you can continue to access your bank account through the mobile app to conduct your everyday banking needs.

Yes. It will still be easy to use your bank card in ATMs across Europe, in much the same way as you can use it today when you go on holiday to non-EU countries, such as America or Australia. And, of course, you can continue to access your bank account through the mobile app to conduct your everyday banking needs.

Yes. Your money will continue to be protected by the Financial Services Compensation Scheme. More information is available at https://www.fscs.org.uk/check-your-money-is-protected/

There is, as yet, no specific guidance on UK banking from the authorities. There should be no change during the transition period for our customers to their everyday banking services.

For our EEA-resident customers, our aim is to continue to provide you with the same service as we do today, where we are permitted to do so. Should anything need to change, we will let you know, ensuring you have as much notice as possible. 

More information is available at:
https://www.ukfinance.org.uk/consumer-guide-retail-banking-european-union-after-brexit

Access to Euro payment capability for our customers will remain as it is today.

Passporting (also known as Financial Services Passporting) allows us as a bank to sell our Financial Services in the EU. It also means that some of the foreign banks who have offices here in the UK can sell their Financial Services into EU countries and in the UK.

We are a UK focused bank, so for the vast majority of customers, our services and products will remain the same.

Passporting is intrinsic to the Single Market and will not be available to the UK from 1 January 2021.

The EU consists of:

Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

The EEA includes EU countries and Iceland, Liechtenstein and Norway. It allows them to be part of the EU’s single market.

Switzerland is neither an EU nor EEA member but is part of the single market - this means Swiss nationals have the same rights to live and work in the UK as other EEA nationals.

The Withdrawal Agreement includes a transition period up until 31 December 2020. It allows the UK to continue to participate in the European Single Market and means that UK banks would continue to have access to the European Single Market using Financial Services Passporting rights. There should be no change to the everyday banking services we offer our customers.