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    • helmie
    • By helmie 28th Nov 17, 1:15 PM
    • 4Posts
    • 0Thanks
    helmie
    Euro account
    • #1
    • 28th Nov 17, 1:15 PM
    Euro account 28th Nov 17 at 1:15 PM
    I am about to start a one or two year contract in Austria where I will be paid a dollar equivalent amount in Euros.

    I mean to keep my house in the UK and will be probably be staying in hotels/Air B&B or whatever as I will be largely on the road, at least initially, so will not have a permanent residence over there.

    Can anyone suggest a Euro account where I can meet day to day payments, and then probably send 75% back to the UK to GBP?

    I am with Santander and was quite surprised they do not offer this based on their heritage.
Page 1
    • paragon909
    • By paragon909 28th Nov 17, 1:21 PM
    • 1,244 Posts
    • 1,244 Thanks
    paragon909
    • #2
    • 28th Nov 17, 1:21 PM
    • #2
    • 28th Nov 17, 1:21 PM
    I am about to start a one or two year contract in Austria where I will be paid a dollar equivalent amount in Euros.

    I mean to keep my house in the UK and will be probably be staying in hotels/Air B&B or whatever as I will be largely on the road, at least initially, so will not have a permanent residence over there.

    Can anyone suggest a Euro account where I can meet day to day payments, and then probably send 75% back to the UK to GBP?

    I am with Santander and was quite surprised they do not offer this based on their heritage.
    Originally posted by helmie
    Could try opening a KBC bank account....

    https://www.kbc.ie/our-products/kbc-current-account/current-account

    Can do it all over the internet, You just upload documents securely and you don't need them certified like other Euro banks.
    • welshlad
    • By welshlad 28th Nov 17, 3:50 PM
    • 52 Posts
    • 9 Thanks
    welshlad
    • #3
    • 28th Nov 17, 3:50 PM
    • #3
    • 28th Nov 17, 3:50 PM
    I would go with Revolut, then you can exchange back to GBP without any fees. Or Monese (£4.95/mth) if you need to use it for direct debits
    • demonloop
    • By demonloop 1st Dec 17, 7:00 PM
    • 29 Posts
    • 12 Thanks
    demonloop
    • #4
    • 1st Dec 17, 7:00 PM
    • #4
    • 1st Dec 17, 7:00 PM
    Revolut would get my vote
    • gzuckerman
    • By gzuckerman 4th Dec 17, 9:00 PM
    • 2 Posts
    • 0 Thanks
    gzuckerman
    • #5
    • 4th Dec 17, 9:00 PM
    • #5
    • 4th Dec 17, 9:00 PM
    I use KBC as I work between the UK and Ireland, easy account opening everything is done digital or over the phone even in Ireland. You can use your card via Apple Pay or Android Pay while you wait for your physical card to arrive.
    • tg99
    • By tg99 4th Dec 17, 10:26 PM
    • 541 Posts
    • 224 Thanks
    tg99
    • #6
    • 4th Dec 17, 10:26 PM
    • #6
    • 4th Dec 17, 10:26 PM
    Is Revolut a bank account as opposed to a money transfer account? Reason I ask is that I was thinking about whether I could sign up and use to fund my TD investing account in Euros to avoid TD’s fx fee but I note that TD only accept payments from a U.K. bank account in your own name and not from money transfer companies.
    • tg99
    • By tg99 4th Dec 17, 10:46 PM
    • 541 Posts
    • 224 Thanks
    tg99
    • #7
    • 4th Dec 17, 10:46 PM
    • #7
    • 4th Dec 17, 10:46 PM
    I would go with Revolut, then you can exchange back to GBP without any fees. Or Monese (£4.95/mth) if you need to use it for direct debits
    Originally posted by welshlad
    Are you tied in for a minimum term paying £4.95 pm with Monese or can you cancel at any time or before the free month trial ends?
    • eDicky
    • By eDicky 5th Dec 17, 12:33 AM
    • 2,961 Posts
    • 1,303 Thanks
    eDicky
    • #8
    • 5th Dec 17, 12:33 AM
    • #8
    • 5th Dec 17, 12:33 AM
    Is Revolut a bank account as opposed to a money transfer account? Reason I ask is that I was thinking about whether I could sign up and use to fund my TD investing account in Euros to avoid TD’s fx fee but I note that TD only accept payments from a U.K. bank account in your own name and not from money transfer companies.
    Originally posted by tg99
    Revolut is a prepaid multi-currency account, not a true bank. But for your EUR balance a personal IBAN is provided (on simple request) from which payments can be sent in your own name. So I think it will work for your purpose. It should cost nothing to try, but study the FAQs to learn how to use it, and proceed with a small amount first.

    The only cost would be a 0.5% fee on conversions in excess of £5k/month. It's best to convert on a weekday as rates are slightly off from the interbank on weekends. Please let us know how it goes.
    • Anthorn
    • By Anthorn 5th Dec 17, 12:51 PM
    • 3,261 Posts
    • 837 Thanks
    Anthorn
    • #9
    • 5th Dec 17, 12:51 PM
    • #9
    • 5th Dec 17, 12:51 PM
    I've posted this several times and I'll probably have to continue posting it. Just walk into a bank branch in any country in the E.U. and open a bank account using proof of your identity and U.K. address. That's about it. But be quick because when we leave the E.U. or the E.U. put a stop to it you will not longer have the right to a bank account in an E.U. country.

    Be careful of exchange rates and transfer fees. Generally when transferring from an E.U. country's bank to the U.K. there is an automatic conversion from Euros to UK pounds and vice versa from UK pounds to Euros.
    • tg99
    • By tg99 5th Dec 17, 2:17 PM
    • 541 Posts
    • 224 Thanks
    tg99
    Revolut is a prepaid multi-currency account, not a true bank. But for your EUR balance a personal IBAN is provided (on simple request) from which payments can be sent in your own name. So I think it will work for your purpose. It should cost nothing to try, but study the FAQs to learn how to use it, and proceed with a small amount first.

    The only cost would be a 0.5% fee on conversions in excess of £5k/month. It's best to convert on a weekday as rates are slightly off from the interbank on weekends. Please let us know how it goes.
    Originally posted by eDicky
    Spoke to TD who confirmed they would not accept payments from the likes of Revolut or Monese even if the account is in my own name since they are not true banks.
    • eDicky
    • By eDicky 7th Dec 17, 1:44 AM
    • 2,961 Posts
    • 1,303 Thanks
    eDicky
    Spoke to TD who confirmed they would not accept payments from the likes of Revolut or Monese even if the account is in my own name since they are not true banks.
    Originally posted by tg99
    In that case your solution is probably a Fineco Bank UK account, multi-currency with conversion at very close to the interbank rate. Check the Referrals board for any current sign-up bonus.

    I would still try Revolut to see if TD in fact notice that it's not coming from a bank. If they reject it Revolut will be able to see what happened and refund you.
    • tg99
    • By tg99 7th Dec 17, 8:20 PM
    • 541 Posts
    • 224 Thanks
    tg99
    In that case your solution is probably a Fineco Bank UK account, multi-currency with conversion at very close to the interbank rate. Check the Referrals board for any current sign-up bonus.

    I would still try Revolut to see if TD in fact notice that it's not coming from a bank. If they reject it Revolut will be able to see what happened and refund you.
    Originally posted by eDicky
    Yep I spoke to Fineco and they did have a £70 referral incentive but ended in mid Nov. Though said often run new offers every 45 days so might come back again in due course. GBP to EUR only 0.15% so pretty decent.
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