The UK leaves the EU
In 2019 we made some changes to our business to ensure our tailored international wealth service continues to meet your goals and aspirations. We would like to assure you that following the UK’s withdrawal from the EU on 31 January 2020, we do not envisage that the products and services we currently provide will change. We will continue to keep you informed if we do need to make any changes as a result of negotiations during the transition period, which is due to last until 31 December 2020.
In preparation for the UK leaving the EU, we successfully completed the transfer of our Citi UK Consumer business from Citibank UK Limited, UK Branch to our new UK bank called Citibank UK Limited on 16 September 2019.
You can find the information and updates we sent during the transfer below. If you would like to see the documents we submitted to the court, please click here to view the Scheme Summary (which summarises the details of the proposed Transfer) and click here to view the full Scheme document.
If you have any questions please do not hesitate to contact us.
* EEA countries: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Iceland, Liechtenstein and Norway.
Frequently Asked Questions
What is the new UK Bank?
We have established a new company in the UK that is intended to become our UK Bank. The new company is a subsidiary of Citibank N.A. (our U.S. Bank). We have applied to the UK Prudential Regulation Authority and the Financial Conduct Authority (the UK Regulators) for authorisation of the new company as a Bank. If the application is approved, we will transfer your accounts and terms and conditions to the new UK Bank, which is called “Citibank UK Limited”.
How will the Proposed Transfer work?
We will ask the Court to make an order to transfer the current Citi UK Consumer business from Citibank UK Limited, UK Branch to our new UK Bank. This means your existing accounts and agreements with Citibank UK Limited, UK Branch will transfer to the new Bank automatically if approved by the Court. As part of the Court's process, you will have the right to object formally if you feel you may be adversely affected by the Proposed Transfer, and further details of how to do so will be provided when we write to you again.
Why are we writing to you now?
We are writing to you at this early stage to provide you with advance notice of our proposals. We intend to apply to the Court to start the formal transfer process and will write to you again to provide further details of the transfer. If you have any questions in the meantime, please let us know.