Keep up to date with our proposed changes as the UK prepares to leave the EU
As the UK prepares to leave the EU, we are proposing to make some changes to our business to ensure our tailored international wealth service continues to meet your goals and aspirations.
We are dedicated to continue serving you as your banking and wealth partner through these changing times and keeping you fully informed of our progress. We have created this page for easy access to all the information and updates we send to you.
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 after reading through the below information, please do not hesitate to call Citiphone on 0800 00 55 00. Alternatively, if you are a Citigold or Citigold Private Client, please contact your Relationship Manager.
* 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 Europe plc, UK Branch to our new UK Bank. This means your existing accounts and agreements with Citibank Europe plc, 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.