Since the Brexit vote in 2016, Contis has been working tirelessly with UK and European partners to ensure minimal disruption to our clients in any Brexit scenario.
The UK has now left the EU and entered a transition period until the end of 2020. The terms of Britain’s future relationship with Brussels are still being decided. Whatever the outcome, we are working to ensure it’ll be business as usual for our clients that operate in Europe.
What action is Contis taking?
- We’ve set up a presence within the EU (Contis Lithuania) and obtained a passport-able European e-money licence from the Bank of Lithuania.
- We’re working with Visa to ensure Contis Lithuania becomes an associate member with Visa sponsorship capability – giving EU clients access to the Visa network.
- We’re ensuring cross-border passporting can be done from our European hub in Lithuania.
What does this mean for you?
Britain’s new relationship with Brussels will begin on the 1st Jan 2021. During 2020, we will smoothly transition Contis clients operating in the EU to Contis Lithuania, and passport services across Europe out of that entity. Some clients may have to set up European offices to contract with Contis Lithuania and continue providing services in Europe. This ensures all end customers will see no interruption to their services. It’ll be business as usual for Contis card and account holders in the UK and the EU.
If you have any questions, please contact us directly.