Below, we answer any questions you may have on the impact of Brexit on WorldRemit.
- What impact will Brexit have on WorldRemit?
- Why will EEA customers need to enter into an agreement with WorldRemit Belgium?
- What happens next?
- Which countries will be affected by this?
What impact will Brexit have on WorldRemit?
Regardless of what happens with Brexit, all our customers will be able to continue using our service and sending money with us.
To ensure this, we have set up a company in Belgium called WorldRemit Belgium SA, which is regulated by the National Bank of Belgium. This company helps us make sure it continues to be as easy as possible for our European Economic Area (EEA) based customers to send money with us after Brexit has taken place. Our service for customers in the EEA will remain the same.
Why will EEA customers need to enter into an agreement with WorldRemit Belgium?
Currently, we service our customers across the EEA from our UK licence with the Financial Conduct Authority (FCA) as a result of an EU wide service called “passporting”. Passporting allows us to provide our services throughout the EEA without needing a licence in each country. It’s likely that after Brexit, passporting from the UK to the rest of the EEA won’t be allowed. Once this happens, we will passport our Belgian licence across the rest of the EEA so that we can continue servicing all our EEA customers.
What happens next?
We will send an email, when the time is right, to all customers these changes apply to explaining exactly how you will be able to continue sending money with WorldRemit Belgium.
If you’re sending money from the UK, you won’t need to do anything as you will continue to be serviced by our UK entity.
Which countries will be affected by this?
European Economic Area Countries we serve:
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.