Best Bank for UK Expats Moving to Europe (Post-Brexit)

The post-Brexit banking landscape

Before Brexit, UK citizens had the same EU banking rights as other EEA nationals. Since 31 December 2020, this has changed significantly. UK citizens are now treated as third-country nationals for EU banking purposes, which has led to:

• Several EU banks closing accounts held by UK residents (particularly in France, Germany and the Netherlands)
• Some EU fintechs withdrawing UK access (e.g. N26 exited the UK market in 2020)
• UK citizens being classified as non-EU nationals, triggering additional KYC requirements at some banks

However, many digital banks — particularly those with EU banking licences or those operating under EU e-money regulations — continue to serve UK citizens without restriction. The key is knowing which ones.

Which banks still serve UK citizens in Europe

Revolut — Revolut has a Lithuanian banking licence for EU customers and a UK banking licence for UK customers. UK citizens opening accounts for use in Europe are served by the EU entity. This is transparent and robust — Revolut explicitly supports UK citizens moving to EU countries and maintains UK GBP accounts alongside EUR accounts.

Wise — Wise operates as an e-money institution under its Belgian licence for EU activities and continues to fully serve UK citizens. Many UK expats in Europe use Wise for their EUR account, especially for salary receipt and international transfers from the UK.

bunq — Accepts UK citizens without restriction. A full Dutch banking licence means UK citizens get the same deposit guarantee and banking services as any EU national.

Monese — A UK company that specifically offers both UK (GBP) and EU (EUR) accounts. Post-Brexit, this dual capability makes Monese uniquely useful for UK expats who need to maintain banking in both countries. Monese explicitly markets to the UK/EU corridor.

Getting an EU IBAN as a UK citizen

Getting a European IBAN as a UK citizen is straightforward with the digital banks above:

• Wise: Opens a Belgian IBAN (BE...) automatically when you hold EUR in your account
• bunq: Provides a Dutch IBAN (NL...)
• Revolut (EU entity): Provides a Lithuanian IBAN (LT...) or local country IBAN depending on your country of residence
• Monese: Provides an EU IBAN alongside a UK account

All of these IBANs are valid for SEPA transfers across all EU/EEA countries — you can receive salary, pay rent, set up direct debits and make payments exactly like any EU resident.

Maintaining your UK account

UK expats should keep their UK bank account active. You will need it for:

• UK state pension and private pension receipt (paid into a UK account by default)
• UK tax returns and HMRC correspondence
• UK property if you retain ownership
• Sending money back to the UK cheaply (use Wise for GBP ↔ EUR conversions)

Barclays, Lloyds and HSBC all allow you to maintain a UK account while resident abroad, though you should notify them of your change of address. Some building societies may close accounts if you are no longer a UK resident — check your terms before moving.

Top recommendation for UK expats

The best setup for most UK expats moving to Europe is:

1. Wise account — for EUR (receiving salary, SEPA payments) and GBP (pension, UK income) in one app, with the best GBP/EUR exchange rate
2. Revolut account — for day-to-day spending, budgeting, and a free multi-currency card
3. Keep your UK bank account — for UK-specific needs

If you want the security of a fully licensed EU bank with deposit guarantee, add bunq to the mix as your primary EU current account.