Brexit : what could be the consequences for HSBC Continental Europe clients?

• No change in the functioning of bank cards in the event of withdrawals or payments when travelling in the United Kingdom. 
• Fees on transactions made in the United Kingdom will remain the same as those that apply today.
• Similarly, a UK national will be able to continue to make payments and withdrawals in the European Union with their bank card under the same conditions as today.

• No change when you make a transfer to an account held in a UK bank.
• Similarly, it will still be possible to receive transfers from banks in the United Kingdom.
• In both cases, the fees associated with these transactions will remain the same as those that apply today.

No change in the way your HSBC Continental Europe accounts work or in the pricing which will apply to your various transactions and services.

Due to Brexit, securities issued in the UK won’t be allowed from 1 January 2021. This applies to all British companies’ securities and shares in Undertakings for Collective Investment in Transferable Securities (UCITS) after the transition period.

Some UCITS may still be allowed if they respect the quotas set by the new rules.* If they don’t, we’ll let you know.

Keeping affected securities in any share savings plan could lead to the plan being closed, and the loss of any preferential tax treatment.

As a result, over the next few weeks, French authorities should work toward divesting themselves of any securities that are no longer allowed.

Please read any communications regarding the new rules, and check our FAQs for more details as they are released.

*UCITS must invest at least 75% of their assets in company securities from France or another state of the European Union, Iceland, Norway and Liechtenstein. Except in special cases, the companies should also pay corporation tax or a similar tax under the common law terms and conditions.

If you are a resident of the United Kingdom and have an outstanding mortgage with HSBC Continental Europe
, you do not need to take any special steps.

The loan agreement will continue to apply as before.

If you are a resident of the United Kingdom, your ability to take out a new mortgage with HSBC Continental Europe will be examined in accordance with any changes in the legal framework that will apply after Brexit.