Brexit: British expats warned 'passporting is over' as accounts are closed and costs rise

Brexit: British expats warned 'passporting is over' as accounts are closed and costs rise

Pension: DWP details how workplace pensions will be affected by Brexit Last August, several current account providers warned their expat customers their accounts would be closed as European "passporting" permissions became lost or obsolete. While many remained hopeful a banking passport solution would be found, new comments from French Minister Clement Beaune have poured cold water on prospects. Passporting allows banks to provide services through the EU with few limitations but this week Clement confirmed passporting would never be offered to nations outside of the trading bloc. While noting the UK may be granted equivalence, it is far from guaranteed …
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