Today's scare story !! Courtesy of the ever-Leftie Guardian newspaper:
https://www.theguardian.com/politics...o-deal-brexit?
Consumers would face slower and more costly credit card payments when they buy EU products, and British citizens living abroad could lose access to payments from their bank accounts, in the event of a no-deal Brexit, the government has warned.
The Brexit secretary, Dominic Raab, insisted he was “confident that a good deal is in our sights” as he launched 24 “technical notices” in Westminster on Thursday morning, telling businesses and the public how to prepare if no deal was reached.
He said the government’s priority was to ensure continuity but the 24 technical notices – the first batch of more than 80 due over the summer – underline the potential impact on daily life if Britain leaves without a deal in place next March.
With UK banks likely to lose access to EU payments systems, the financial services paper warns: “Customers (including business using these providers to process euro payments) could face increased costs and slower processing times for euro transactions. The cost of card payments between the UK and EU will likely increase.”
Customers of UK banks living in the EU “may lose the ability to access lending and deposit services, and insurance contracts”, the paper says.
Businesses are warned that if the UK leaves without a deal, “the free circulation of goods between the UK and EU would cease”.