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Brexit and Cater Allen Private Bank

On 31 January 2020, the UK left the European Union. We'd like to reassure you that we're committed to our customers.

As a UK bank we're subject to the requirements of the UK regulators such as the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

We don't have plans to change our products because of Brexit. If we do, we'll give our customers as much notice as possible.

Common questions

Deposits are held in the UK.

Your deposits are protected by the FSCS. This applies to deposits in the UK, up to £85,000 per customer. That limit will be set by the Prudential Regulation Authority. This is separate to any limits made by the EU.

At Cater Allen we have our own banking licence. This means any deposits you have with Santander UK are separate.

Find out more about Brexit and the FSCS, on the FSCS website.

Yes, you can keep using both cash machines and your Cater Allen debit card. The way you pay for things in Europe hasn't changed.

No, standard banking payments such as standing orders and Direct Debits remain the same.

Yes, Internet Banking isn't affected by the UK leaving the EU.

Yes, you can, but they could be more expensive.

Our charges will stay the same for European Economic Area (EEA) payments. But EEA banks are allowed to take deductions from your UK payments.

For payments in EUR (Euro)

Payments that you send by SWIFT to EEA accounts might arrive with deductions. The beneficiary or correspondent bank will make the deductions.

Any payments you receive from an EEA bank, both in foreign currency and in GBP, might have deductions. They'll be taken before reaching your Cater Allen account.

For other EEA currencies

SWIFT is the only payment method for these EEA currencies:

  • Czech koruna
  • Danish krone
  • Swedish krona
  • Polish zloty
  • Hungarian forint
  • Romanian leu

These and Pound Sterling (GBP) payments to the EEA may have deductions.

If you've got questions about charges in the EEA, contact your EEA bank. We can't see what charges other banks will apply and can't advise you on this.

If you're planning on moving, we'll keep servicing your account.

There may be countries, now or in the future that we can't service due to changes to their regulation or political instability. When you tell us your new address, we'll let you know if we're not able to.

At the moment there are no changes to how we service your account. We're continuing to look at the effects of Brexit. This means there could be changes in the future. If there are, we'll let you know as soon as we can.

Common questions for business customers

The UK government has published business-specific guidance. It includes key topics like regulations and employment information.

To find out more information on preparing for Brexit, go to the website.

We can't predict future trade or potential changes. To learn more, visit the government website and speak to trade bodies.

To keep trading with the EU, you'll need an Economic Operators Registration and Identification number. An EORI is given to importers and exporters by HMRC. This is so customs can carry out EU security measures.

The European Commission has published documents that tell you how Brexit impacts customs.