Bank Services: UK Trade with EU

Cabinet Office written question – answered on 7th October 2020.

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Photo of Simon Jupp Simon Jupp Conservative, East Devon

To ask the Chancellor of the Duchy of Lancaster and Minister for the Cabinet Office, what progress he has made on negotiating the continuation of EU banking passporting rules to ensure that UK expatriates do not have their bank accounts closed at the end of the transition period.

Photo of Penny Mordaunt Penny Mordaunt Paymaster General

The majority of expatriates living in the EU should not see any change to their banking at the end of the transition period. The Government expects banks to treat customers fairly and provide timely communications to enable them to make appropriate decisions. The Financial Conduct Authority continues to engage with firms to ensure they are meeting these expectations.

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