Currently no. The UK Government has given EU banks a limited period (I believe 3 years) after the end of the transition period, to seek full FCA authorisation. It is ominous though for the future although the close nature of our system with Ireland, and cultural heritage, may mean KBC seek the authorisation.
Another Brexit dividend. How many more lives have to be ruined before we admit this was a bad idea? Will it take the breakup of the UK?
Well, that’s set the scene for today
Well explained @Chapuys!
I expect all the Irish banks will be looking to set up a subsidiary in Northern Ireland (the ones which don’t operate there already) even if it’s just a “paper company” to nominally serve those particular customers.
People would still say it’s good for the UK
The UK may well cease to exist because of it.
I would like to hear some concrete advantage of Brexit that stands up to scrutiny. All the wild claims from the referendum campaign have been proved utterly false, from the dodgy red bus to being a rule maker.
What is left? What is it good for?
Bit dramatic, their lives aren’t ruined, they just need to find a new bank account in the next couple of months.
Ulster Bank is a Northern Irish Bank
Bank of Ireland already operates in the UK
AIB operate in Northern Ireland
It’s Permanent TSB, KBC, un post and N26 that don’t have UK operations.
Not sure whats going to happen to their customers if they move to UK/NI.
I’d imagine that, of those, it would probably be worthwhile to set up a U.K. company to keep their existing customers - except, I suppose, in the case of N26 since they have been burnt by the U.K. before!
Does any one have a list of which UK banks have EU banking licences? Seems surprisingly difficult to track down!
I voted for x party to block another party out for reasons.
I was very close to spoiling my ballot but I just felt like working class rural young people would get ignored while free university is given to urban ones.
19 (18 at the time) year old tory voter, would have voted leave on anti NATO grounds and old labour thinking.
I don’t like any party.
Puzzled as to what either of these things have to do with the UK’s membership of the European Union.
(Edited for clarity)
Will you be accepting pi$$ed-off English asylum seekers?
The EU seem to be insisting that British bank get a separate banking licence in each European country.
While this isn’t really a problem, some banks have decided it’s not worth doing in every country.
For instance Lloyds plan to pull out of two countries - the Netherlands and Slovakia - where they have decided it’s uneconomic to offer such accounts. If you live elsewhere in the EU with Lloyds, you’re fine.
This is what happens when you decide you no longer want to be a key decision-making member of a club, (indeed, a club where you were pretty much always a top-table executive member) but you still want access to the same club – you get told the conditions of entry.
But “the UK holds all the cards,” apparently. “They need us much more than we need them.”
1983 Labour Party Leaflet for Sedgefeild
Why on earth did you think that manifesto from over thirty years before the referendum was in any way relevant to anything???
You do know the person who wrote that had already been the Prime Minister and decided himself that he didn’t want to leave the EU?
You do actually follow modern day politics, don’t you?
Next you’ll be saying you voted Leave because Churchill didn’t really get on with the Germans.
Just to bring things a bit more on topic here everyone.
From the Code of Conduct:
We’ll allow discussion but let’s keep it under control here.
I’ve no doubt this change will affect quite a lot of people but hopefully people won’t be going down the route that happened when N26 pulled the plug, of utter denial that Brexit / leaving the EU had anything to do with their decision.
Basically if you live outside the UK and don’t have a UK address then you probably need to find a local bank.
I’m not getting into all the Brexit politics if I can at all help it.