Foreign currency accounts?

robonz

do any UK banks or bs offer foreign currency accounts? when i lived in Hong Kong for a short time, all the banks there offered these.

if you had a euro account for example, when you come back from your european hols put the euros into a euro account ready for your next trip and therefore not loose on exchange rates and still get interest.

jonesMUFCforever

Most banks do BUT you will have to pay for the privelege!
It would be cheaper for you to put them in a jar under the bed - you still would not lose on the exchange rate.

pin

Citibank offer a fee free service where you can have a sterling and a euro account, however there is a minimum balance requirement.

jonesMUFCforever

pin wrote:

Citibank offer a fee free service where you can have a sterling and a euro account, however there is a minimum balance requirement.

I've quite understood how banks claim something is free but actually it costs you!
I think the minimum balance requirement for the Citibank account is £2000 or about £60 in lost interest pa that having £2k kicking about doing nothing is actually costing you.

robonz

oh well so much to that idea