On 31 January 2020, the United Kingdom (UK) left the European Union (EU) under the withdrawal agreement that was reached. This means a no-deal Brexit was avoided on that date, and a transitional period has commenced that will last until the end of 2020. During this period, the UK will remain subject to EU law in almost all areas, including financial and other passporting rights that apply in the internal market. The EU and the UK will conduct negotiations on their future relationship, which should come into effect on 1 January 2021. The details of that relationship are as yet unknown.The Q&As below deal with possible questions from consumers and financial institutions and also discuss how we prepare for Brexit.