A Brexit update
On 24 December 2020 the European Union and the United Kingdom announced that they have reached a trade agreement that will come into force when the UK leaves the single market and customs union at the end of this year, subject to ratification by the UK and EU parliaments.
A statement from our CEO
"While the agreement does not provide market access for financial services firms as before, this is a welcome development that provides greater clarity for companies across the region and establishes an important foundation for future partnership between the EU and the UK. We look forward to the EU and UK building on this in the months ahead as set out in their joint declaration on financial services," said Christian Sewing, Chief Executive Officer.
Analysis and Contacts
Frequently Asked Questions
Will Deutsche Bank be able to carry on doing business in the UK after Brexit?
Will I still be able to use my Deutsche Bank credit card, charge card or debit card in the UK?
If you are a Private client resident outside the UK you can continue to use your credit card, charge card or debit card in the UK after Brexit, just as you do now. If you are a Private client resident in the UK, please contact your business advisor.
Will I be able make cross border payments from and to the UK?
Yes. The UK will also continue to be part of the Single European Payment Area [SEPA] for cross-border Euro payments.
How will Brexit impact the products and services Deutsche Bank provides?
We have been planning for Brexit across all our businesses and operations for more than four years. We do not expect it to impact the service we provide to the vast majority of clients.
How does the Brexit deal impact our UK business?
The UK will remain an important investment, corporate and private banking hub for Deutsche Bank. Deutsche Bank has operated in the UK for nearly 150 years, and is one of the largest employers in the City of London. We are proud of this long association and of our thriving UK client franchise, and are focused on growing both in the years ahead.