Brexit and Cater Allen Private Bank
20th February 2019
On 29 March 2017, the UK Government began the formal process for the UK to exit the European Union. This followed the referendum in June 2016, when the people of the UK voted to leave the EU.
We’d like to reassure customers that Cater Allen Private Bank is committed to the UK. As a British bank we comply with, and are subject to, the requirements of UK regulators such as the Financial Conduct Authority and the Prudential Regulatory Authority.
Like any prudent organisation, we’ve been undertaking contingency planning around Brexit. Whatever the outcome, we’re well positioned to continue to help people and businesses prosper.
If we do make changes to any of our products following the UK’s withdrawal from the EU, we’ll provide our customers with as much notice as possible.
Where are my deposits with Cater Allen Private Bank held?
Deposits held with Cater Allen Private Bank are held in the UK.
Is my money secure in the UK?
Cater Allen Private Bank’s customers are covered by the Financial Services Compensation Scheme (FSCS), with each eligible depositor covered up to £85,000 as a combined amount across their Cater Allen accounts, including their share of any joint accounts.
As Cater Allen holds its own banking license, a customer’s deposits with Cater Allen are, for the purposes of FSCS cover, distinct from any deposits they may hold with Santander UK plc.
Further information on Brexit and the FSCS can be found on the FSCS website.
Will I still be able to pay with my Cater Allen Debit Card in Europe?
Yes. How customers use their cards to pay for goods and services and to withdraw money abroad will not be affected by the UK’s exit from the EU.
Will I still be able to bank online when travelling in Europe?
Yes. Internet Banking will not be affected by the UK’s exit from the EU.