The British government said on Thursday, Britons living in the European Union could lose access to their UK bank accounts and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit.
The revelation came in a document detailing contingency planning if Britain leaves the EU in March with no transition deal. The government said unilateral action on several fronts could only minimize disruption up to a point.
Reuters reports the document said that over a million Britons living abroad may not be able to access their UK bank accounts to receive pensions and salaries.
All Britons will face higher costs to make card payments in the EU when traveling abroad.