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  • FIRST POST
    PaulS43
    How do I get a € Euro bank account?
    • #1
    • 19th Jan 12, 10:13 AM
    How do I get a € Euro bank account? 19th Jan 12 at 10:13 AM
    Apologies if this isn't in the right place to the mods - I couldn't find an obvious natural home for it).

    Right I am self employed. I get paid (currently) by 3 different British companies. All the money is in sterling. It comes into my UK HSBC account.

    I have been asked whether or not I want to work for a Dutch company. The thing is they will only pay in € Euros. Invoicing their firm in Euros isn't a problem but how can I recive the money?

    HSBC haven't yet answered my email to ask them so can anyone else tell me where I can go to set up a € Euro bank account and if I have a choice, where I will get the best deal in running it and withdrawing my money in £ sterling.

    The contract (if I take it) will pay exactly €150 a week.

    Any advice welcome
Page 8
    • jaycee_111
    • By jaycee_111 27th Sep 16, 4:10 PM
    • 14 Posts
    • 4 Thanks
    jaycee_111
    Don't think so when I deposit cheques into my account there its RBS I have to use.
    • AlexPF
    • By AlexPF 27th Sep 16, 5:10 PM
    • 27 Posts
    • 5 Thanks
    AlexPF
    They have an arrangement to use RBS branches, but they are part of the Santander group.
    • Abergavenny
    • By Abergavenny 12th Oct 16, 6:18 AM
    • 1 Posts
    • 0 Thanks
    Abergavenny
    Difficulty transfering euros to a forex account
    I'm not sure if this is the right thread ... I am trying to close my account with Credit Agricole and transfer the money to a forex euro account to improve the rate of exchange (euro to pound) that I receive. The french bank is refusing to pay the money into a forex account. Can they do this?
    • eDicky
    • By eDicky 12th Oct 16, 8:05 AM
    • 1,732 Posts
    • 737 Thanks
    eDicky
    I'm not sure if this is the right thread ... I am trying to close my account with Credit Agricole and transfer the money to a forex euro account to improve the rate of exchange (euro to pound) that I receive. The french bank is refusing to pay the money into a forex account. Can they do this?
    Originally posted by Abergavenny
    Well, the thread is about how to open a euro account and you're trying to close one, but apart from that...

    What kind of 'forex euro account' are you trying to move your funds into, and how are you trying to do it?

    Do you have a debit card with the Credit Agricole account? Most forex brokers accept debit card payments.

    You can use Revolut to exchange €6000 per month without fees (0.5% fee after that) at the interbank rate (on weekdays).
    • DesG
    • By DesG 12th Oct 16, 11:47 AM
    • 1,219 Posts
    • 425 Thanks
    DesG
    I'm not sure if this is the right thread ... I am trying to close my account with Credit Agricole and transfer the money to a forex euro account to improve the rate of exchange (euro to pound) that I receive. The french bank is refusing to pay the money into a forex account. Can they do this?
    Originally posted by Abergavenny
    Are they refusing to make a SEPA transfer at your request, or are they refusing to send a closing balance to a 3rd party, two different things. Can you not do the SEPA transfer online?
    • HadrianB
    • By HadrianB 7th Nov 16, 10:45 PM
    • 3 Posts
    • 0 Thanks
    HadrianB
    Hello i am looking to get a bank account to save money in Euros .

    I will be using it in Netherlands as i'm eventually planning to move out ot the UK .

    Is there a bank account from a decent bank , id like to avoid banks with a past of washing money for drug cartels aka HSBC but if i can't then i can't .

    Also im looking to get transferwise to do the currency exchange any ideas on this as well ?.

    Cheers
    • eDicky
    • By eDicky 7th Nov 16, 11:50 PM
    • 1,732 Posts
    • 737 Thanks
    eDicky
    Hello i am looking to get a bank account to save money in Euros.
    Originally posted by HadrianB
    Search this thread for Britline, Comdirect, Irish banks. TransferWise charge 0.5%, converting at the interbank rate.
    Evolution, not revolution
    • HadrianB
    • By HadrianB 8th Nov 16, 6:43 AM
    • 3 Posts
    • 0 Thanks
    HadrianB
    i know I've seen it, however this thread is a few years old ! .
    • heathrow
    • By heathrow 20th Nov 16, 1:40 PM
    • 41 Posts
    • 20 Thanks
    heathrow
    Free Euro Accounts
    I think the best route is to open account with an Irish bank.


    The EU requires banks to provide basic bank accounts to non-resident EU nationals.

    Ulster Bank offers a Foundation Account


    http://digital.ulsterbank.ie/personal/current-accounts/foundation-account.html

    You need to visit a branch in the Republic. You can also open their
    Standard Account - which gives you go a cheque book but its €4 per month unless you keep €3000 in the account

    http://digital.ulsterbank.ie/personal/current-accounts/non-roi-eu-residents.html

    Similarly Bank of Ireland also have a basic account:

    https://personalbanking.bankofireland.com/bank/current-accounts/basic-bank-account/features-benefits/

    KBC let you apply by post:

    https://www.kbc.ie/Our-Products/KBC-Current-Account/Current-Account

    https://www.kbc.ie/KBC/media/Current-Account-PDFs/EUCurrentAccountApp.PDF


    Permanent TSB:

    http://www.permanenttsb.ie/everyday-banking/current-accounts/basic-payment-account/

    (open in branch)

    And finally AIB:

    https://aib.ie/our-products/current-accounts/basic-bank-account

    - Again open account in branch.

    - All of these accounts have Visa Debit Cards and online/mobile banking. And our Irish cousins speak excellent English

    I was over in Ireland 10 days ago and have opened an account in branch with Ulster Bank. I plan to move money to from my UK accounts using Revolut - up to £5000 per month can be changed between currencies per month at the interbank rate.
    Last edited by heathrow; 20-11-2016 at 2:02 PM. Reason: Added Perm TSB
    • glider3560
    • By glider3560 20th Nov 16, 2:17 PM
    • 3,022 Posts
    • 1,821 Thanks
    glider3560
    Note that if you open an account in the Irish Republic, there is a €2.50 stamp duty (i.e. tax) on cards used in either ATMs or at point of sale. This increases to €5.00 if you use both ATMs and point of sale.

    • colsten
    • By colsten 20th Nov 16, 4:59 PM
    • 8,141 Posts
    • 6,634 Thanks
    colsten
    The EU requires banks to provide basic bank accounts to non-resident EU nationals.
    Originally posted by heathrow
    Are you sure about that?
    • heathrow
    • By heathrow 20th Nov 16, 6:14 PM
    • 41 Posts
    • 20 Thanks
    heathrow
    Yes - Payments Account Directive.

    See here:


    https://www.fca.org.uk/firms/payment-accounts-directive
    • eDicky
    • By eDicky 20th Nov 16, 10:34 PM
    • 1,732 Posts
    • 737 Thanks
    eDicky
    Yes - Payments Account Directive.

    See here:

    https://www.fca.org.uk/firms/payment-accounts-directive
    Originally posted by heathrow
    "The provisions on basic bank accounts ensure all consumers can access basic banking services throughout the EU, regardless of their nationality or place of residence."

    Nice idea. But I would like to know if any UK citizen succeeds in walking into the nearest bank branch in a eurozone country (apart from RoI) and opening a basic account without having residence in that country.
    Last edited by eDicky; 20-11-2016 at 10:37 PM.
    • Marchitiello
    • By Marchitiello 21st Nov 16, 12:39 AM
    • 140 Posts
    • 43 Thanks
    Marchitiello
    "The provisions on basic bank accounts ensure all consumers can access basic banking services throughout the EU, regardless of their nationality or place of residence."

    Nice idea. But I would like to know if any UK citizen succeeds in walking into the nearest bank branch in a eurozone country (apart from RoI) and opening a basic account without having residence in that country.
    Originally posted by eDicky
    Plenty of example I know of in Spain, France, Germany and Italy. Most are basic accounts but few I know of are fully fledged accounts .
    • colsten
    • By colsten 21st Nov 16, 1:05 AM
    • 8,141 Posts
    • 6,634 Thanks
    colsten
    Yes - Payments Account Directive.

    See here:


    https://www.fca.org.uk/firms/payment-accounts-directive
    Originally posted by heathrow
    Interesting - I knew about the PAD but wasn't aware you didn't need to actually be a resident in the country you apply for / hold the account in.

    Should be interesting to see what the Brexit madness does to that.
    • dougz
    • By dougz 21st Nov 16, 11:01 AM
    • 516 Posts
    • 122 Thanks
    dougz
    Note that if you open an account in the Irish Republic, there is a €2.50 stamp duty (i.e. tax) on cards used in either ATMs or at point of sale. This increases to €5.00 if you use both ATMs and point of sale.
    Originally posted by glider3560
    Apparently that annual tax was abolished in their 2016 budget. You now only get charged 0.12 EUR per ATM withdrawal.

    The bank itself may charge though eg. I see the KBC account referenced above has a 6 EUR quarterly fee unless youre over 60.

    If anyone comes across any other account that can be opened without visiting Ireland, but has no (or little) standing fee, please post.
    Last edited by dougz; 21-11-2016 at 11:26 AM. Reason: added
    • heathrow
    • By heathrow 21st Nov 16, 1:26 PM
    • 41 Posts
    • 20 Thanks
    heathrow
    The €0.12 per transaction is capped at €2.50 per after 20 transactions.




    Budget €5.00 per year Government tax.
    • glider3560
    • By glider3560 21st Nov 16, 7:45 PM
    • 3,022 Posts
    • 1,821 Thanks
    glider3560
    Do you know if the postal application form can be used for the basic current account? There appears to be no place on the form to choose the account type.

    • heathrow
    • By heathrow 22nd Nov 16, 11:24 AM
    • 41 Posts
    • 20 Thanks
    heathrow
    I don;t think they do one.




    You need €2,000 minimum balance to avoid monthly and ATM fees.
    • glider3560
    • By glider3560 22nd Nov 16, 7:51 PM
    • 3,022 Posts
    • 1,821 Thanks
    glider3560
    I don;t think they do one.




    You need €2,000 minimum balance to avoid monthly and ATM fees.
    Originally posted by heathrow
    Yes, they do:
    https://www.kbc.ie/Our-Products/KBC-Current-Account/Current-Account/Basic

    My understanding is that all banks in RoI are required to offer a basic bank account. They can upgrade it to a standard one if you pay in more than the minimum wage (approx. €19,000 per year).

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