[symboltoproc]

Can anyone explain why they can not get a UK bank license and migrate their customer to the UK bank?

I suspect that the main motivation is not Brexit but fiercer competition in the UK (e.g. Monzo).

[ztratar]

Migrating banks puts your users through a migration themselves (new terms, transfers, new issued cards, etc). It's very difficult.

On top of that, their UK business wasn't doing very well.

So why double down on a losing bet and go through a ton of pain for it?