Brexit Hub | Ulster Bank

Brexit Hub


What it means for business

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Add your signposting title here… Brexit - supporting you through the transition

Our number one priority is to serve and support our customers. 

The UK left the EU on 31 January 2020 and is now well into the   transition period, which is due to end on 31 December 2020.

We are continuing to monitor the situation closely and will provide updates as negotiations conclude.

You can find out more by taking a look at the information on this webpage and our helpful customer guides.

Leaving the EU

Your guides:

Is your business prepared?
woman looking at paperwork

Do you have your EORI number yet?


If your business is VAT registered and you already trade exclusively with the EU you should be issued with an EORI number by HMRC automatically. If you don't have one, apply here.

Apply for an EORI number

man and woman checking orders in a factory

Check your cash-flow and inventory


Consider if there are any changes to your supply chains and whether you’ll need cash tied up in stock or unfinished goods given the interconnected nature of supply chains.


Cash management and payments


Consider reducing exposure to exchange-rate fluctuations and simplify international payments.

People working in a factory

Look after your people


If you employ staff who are EU citizens, take a look at the UK Government’s Employer Toolkit intended to help support you with the impact of the UK leaving the EU on your staff.

Visit the UK Government's employer toolkit

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Think outside the box


The UK leaving the EU is likely to provide opportunities to trade with markets that you may not have considered before. Now could be the time to research expansion into new markets beyond Europe, launch new investments or consider diversification.

Add your signposting title here… Beware of fraudsters

Criminals are taking advantage of the potential confusion around the UK leaving the EU to defraud businesses.

These criminals are posing as HMRC to get businesses to part with their money.

  • If you’re a UK based business, they’ll claim you need to register for a ‘UK trader number’ if you trade with EU countries. 
  • If you’re an EU national living in the UK, they may claim you owe additional tax.

Remember that HMRC will never ask you for payment or personal details by email or text. If in doubt, call HMRC on a trusted telephone number. 

We’ll never contact you out of the blue to ask for your personal information or ask you to move money to a safe account. 

What the UK leaving the EU means for business

There should be no change to your everyday banking services throughout the transition period.

We’re closely monitoring the situation and we’ll let you know should any changes be required. Our aim is to continue to provide you with the same level of service and range of products as we do today.

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.

How we prepared for the UK leaving the EU

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 serve customers when the UK leaves the EU.

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.

What happens next?

The UK has now entered a transition period which allows the UK to continue to participate in the European Single Market while it negotiates the future UK-EU relationship, including for Financial Services and trade agreements. Nothing material will change during the transition period.

Withdrawal Agreement

Icon expand What is the Withdrawal Agreement?

The Withdrawal Agreement sets out the terms of the UK’s exit from the EU, including provisions for a transition period until 31 December 2020.


Icon expand What is the Political Declaration?

The Political Declaration sets out the framework for the future relationship between the UK and the EU. It covers trade and economic cooperation with the EU, alongside agreements on security and other areas. 

The UK and EU will use this framework as the starting point for negotiations on the future UK-EU relationship.


Icon expand What is the transition period?

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

There should be no change to the everyday banking services we offer our customers during the transition period.

Add your signposting title here… Passporting

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.

Banking in the EU

Icon expand Can I still make and receive payments from EU countries?

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. 


Icon expand Will I still be able to use ATMs in EU countries?

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.


Icon expand Is my money safe?

Yes. Your money will continue to be protected by the Financial Services Compensation Scheme. More information is available at


Icon expand Would a UK citizen living in the EU lose access to their banking in the UK?

There is, as yet, no specific guidance on UK banking from the authorities. There should be no change during the transition period for our customers to their everyday banking services. 


Icon expand Will there be any changes to my ability to make payments in Euros from the UK during the transition period?

Access to Euro payment capability for our customers will remain as it is today.

Add your signposting title here… Brexit insight and analysis

The NatWest Business Hub delivers sector specific news and views to help you through Brexit challenges and opportunities.

Read our latest articles here
SME Finance Charter

We are a signatory to the UK Government’s SME Finance Charter, designed to support UK small and medium-sized enterprises as the UK exits the EU. We have now set out our commitments that sit alongside the government’s charter.

SME Finance Charter (PDF, 37 KB)

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