Brexit

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 during which negotiations on future UK/EU trading arrangements will take place.

As things stand currently, 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. 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 Brexit transition period.

In addition to work being done locally, we are working closely on our Brexit preparations with colleagues in the Danske Bank Group. We are also engaged in regular dialogue with our regulators, both the PRA (Prudential Regulation Authority) and FCA (Financial Conduct Authority) on the UK’s departure from the European Union (EU).

To help customers understand what Brexit means for the services we deliver, we have put together answers to some frequently asked questions.

FAQs

  • What does Brexit mean for Danske Bank customers?

    There won’t be any changes to your everyday banking services during the transition period, and 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 Brexit transition period.

    Following the transition period, dependent on the status of trade negotiations between the UK and EU, there could be changes to some of the services we provide to our customers.

    We’ll let you know if there are going to be any changes to the banking services you receive from us.
  • Will my money be safe after Brexit?

    Yes. As is currently the case, your money will be protected by the Financial Services Compensation Scheme for the duration of the transition period. 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.

  • Will I still be able to use cash machines in EU countries after Brexit?

    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.
  • Will I still be able to make and receive payments from EU countries?

    Yes. Customers resident in the UK will still be able to make and receive bank transfers to and from Europe.
  • Could I lose access to UK-based bank accounts if I reside in the EU?

    EU-based customers will be able to retain access to their UK banking services for the duration of the transition period.

    We don’t yet know what access UK-based financial services providers will have to the EU or what access an EU resident may have to UK bank accounts after the transition period; there may be a risk that people living in the EU may not be able to access some UK banking services after the end of the transition period.

    If no trade agreement is reached by the end of the transition period, dependent upon the approach of the various EU regulators, it is possible that some EU-based customers may no longer be able to avail of their UK banking facilities. In these circumstances, we’ll work with customers to try to minimise any disruption for them.
  • Will I still be able to access eBanking, Business eBanking and my Mobile Bank App when I am in the European Union?

    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.
  • Will there be any changes to how the Bank uses my personal data?

    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.
  • Will I still be able to use my debit and credit cards in EU Countries?

    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.

Further information

More information on what Brexit could mean for the provision of banking services can be found at the following links: