Berlin (dpa / tmn) - All in all, savers, investors and insured persons in Germany can react calmly to Brexit. Because many ambiguities have been clarified in advance. An overview.
- Saver: Anyone who has invested their money in a British bank may ask the question: is my assets safe? The answer is usually yes, because British banks also secure their customers' deposits, as the Stiftung Warentest in Berlin explains. Due to the exchange rate risk, however, no more than 80,000 euros should be invested with an institution. Some institutions such as the Bank of Scotland or Barclays Bank are now reportedly subject to German or Irish deposit insurance.
- Investors: In the meantime, Brexit has caused uncertainty on the stock exchanges. But now the unrest has subsided. It is not possible to predict whether the shares of British companies will suffer from the exit in the long term. However, according to the Stiftung Warentest, equity funds with a focus on Europe are still so widely diversified that they are suitable as a basic investment. If the UK's share of these products is too large, you can use global funds.
- Insured: British life insurers have now transferred EU citizens' contracts to subsidiaries in Luxembourg and Ireland. The Stiftung Warentest explains that the claims and guaranteed benefits are retained. But: The contracts at the subsidiaries are no longer under the protection of the British Financial Services Compensation Scheme (FSCS). This fund jumps in when a company goes bankrupt. There is no comparable customer protection in Luxembourg and Ireland.
Great Britain wants to leave the European Union at midnight Central European time on January 31.
Stiftung Warentest: Questions and Answers on Brexit
Fund overview of the Stiftung Warentest (some with costs)