Brexit FAQs

Our aim is to continue to provide you with the same level of service and range of products.

Should anything need to change in relation to your banking services, we'll let you know and ensure you have plenty of notice. 

We’re committed to helping you and your business succeed. With our experience, we’ll continue to support you with the opportunities and challenges that the UK leaving the EU could potentially bring to your business.

As our business is largely UK-focused, the direct impact on Ulster Bank is not as significant as it is for many other banks.

We’ve already made changes to the way we’re organised to ensure we can continue to serve our customers from 1 January 2021.

We’ve been operating our banking entity in the Netherlands, NatWest Markets N.V. since 25 March 2019. We’re serving some of our non-UK EEA customers and have transferred some of our Western European Corporate Coverage business into NatWest Markets N.V.

We’ve established our NatWest Bank Branch in Frankfurt, which allows us continued access to the Financial Markets infrastructure in Germany to support Euro Payments and Euro Liquidity via the Bundesbank.

Our Ulster Bank Ireland DAC business will continue to provide services for our customers that live, invest and do business in the Republic of Ireland.

We’ve been involved in consultations with key UK and EU bodies. We’re continuing to work with relevant governments, UK and EU regulators and trade organisations to understand what the future UK-EU relationship means for the Financial Services sector.

The Withdrawal Agreement included a transition period until 31 December 2020. It allowed the UK to continue to participate in the European Single Market and meant that UK banks would continue to have access to the European Single Market using Financial Services Passporting rights.

Passporting (also known as Financial Services Passporting) allows us as a bank to sell our financial services in the EU. It also means that some of the foreign banks who have offices here in the UK can sell their financial services into EU countries and in the UK.

We are a UK focused bank, so for the vast majority of customers, our services and products will remain the same.

To prepare for the possible loss of EU passporting we’re using our banking entity in the Netherlands, NatWest Markets N.V. As the Netherlands is a member of the EU, we’re able to use EU passporting rights for NatWest Markets N.V. to serve EEA customers. NatWest Markets N.V. also provides continuity of service to some of our non-UK EEA customers. Some of our Western European Corporate Coverage business and operations have moved to NatWest Markets N.V.

Passporting is intrinsic to the Single Market and will not be available to the UK from 1 January 2021.

Yes. There should be no change to how you make and receive payments to EU countries. And, of course, you can continue to access your bank account through the mobile app to conduct your everyday banking needs.

Yes. It will still be easy to use your bank card in ATMs across Europe, in much the same way as you can use it today when you go on holiday to non-EU countries, such as America or Australia. And, of course, you can continue to access your bank account through the mobile app to conduct your everyday banking needs.

Yes. Your money will continue to be protected by the Financial Services Compensation Scheme. More information is available at https://www.fscs.org.uk/check-your-money-is-protected/

For our EEA-resident customers, our aim is to continue to provide you with the same service as we do today, where we are permitted to do so. Should anything need to change, we'll let you know and ensure you have as much notice as possible.

Access to Euro payment capability for our customers will remain.

Yes. You will be able to log on as normal using your desktop or mobile app.

The bank will continue to process your personal data in accordance with our privacy policy.