The UK voted to leave the European Union in June 2016. Following the ratification of the Withdrawal Agreement, the UK left the EU at 11pm on 31 January 2020 and entered the transition period.
The transition period is due to end on 31 December 2020 with negotiations on the future UK/EU trading arrangements, as well as on how the Protocol on Ireland/Northern Ireland will be implemented, currently taking place.
As things stand, there is still uncertainty around what will happen after the transition period and what impact this will have on the wider financial services sector in the future.
Those uncertainties may have implications for the banking services we provide, and we are continuing our work on potential Brexit impacts. If there are going to be changes to the services we provide, we will let you know.
To help customers understand what Brexit means for the services we deliver, we have put together answers to some frequently asked questions.
Please note that any references to European Economic Area, EEA, European Union, EU, Europe or Member State(s) in any of our documentation shall be deemed to include the United Kingdom during the transition period.
There won’t be any changes to your everyday banking services as a result of Brexit.
During the transition period, any references to European Economic Area, EEA, European Union, EU, Europe or Member State(s) in any of our documentation shall be deemed to include the United Kingdom.
As is currently the case, all eligible customer deposits will continue to be protected by the Financial Services Compensation Scheme. You can find more information on the FSCS website.
You will still be able to access all services through our branches, our regional business centres, cash machines and our full range of digital banking channels.
Yes, in the same way that you can currently, you’ll still be able to withdraw cash in both EU and non-EU countries worldwide, using your Danske Bank debit or credit card.
Yes. Customers resident in the UK will still be able to make and receive bank transfers to and from Europe.
Customers who reside in the EU will be able to retain access to their Danske Bank accounts for the duration of the transition period.
However, the UK’s withdrawal from the European Union has led to prevailing uncertainty around whether UK banks will be permitted to offer banking services in EU countries after the transition period. As a result, with the exception of customers living in the Republic of Ireland, Denmark, Finland, Norway or Sweden, we will no longer be able to continue to provide current accounts, saving accounts or credit card services to EU-based customers beyond 31 December 2020.
We are in the process of contacting all customers who will be affected by these changes and will work with you to minimise disruption.
If you are affected by these changes, it is important that you take steps to review the banking services you currently receive from us and make alternative arrangements by 31 December 2020.
Yes. You will still be able to log on as normal and access all your services on eBanking, Business eBanking and on your Mobile Bank App.
The Bank will continue to process your personal data in accordance with our privacy notice: ‘How we use your personal and business information’. You can find a copy of the document by clicking here.
Yes. In the same way that you can currently, you will still be able to withdraw cash and make payments in both EU and non-EU countries worldwide, using your Danske Bank debit or credit card. Charges may be incurred.
More information on what Brexit could mean for the provision of banking services can be found at the following links:
