Getting paid for a job in Euros - best way to go about it?

Shimynor

Well I got paid a smallish amount into my Nationwide account in Euros as a little test to see if I would get charged for it, and I did, I'm not annoyed about this or anything because I'm sure it states they do charge.

But now I'm looking for the best option to manage my money. Which bank accounts don't charge for receiving the Euro currency? I went into HSBC, and they don't, but they want £500 a month into your account (which I can't always guarantee into this account) or they want me to pay £13 a month, which really, I don't want to do, as I may as well just take the charge of receiving foreign currency.

I've considered opening a Euro account and then transferring to my main account when the exchange rate is good (and also useful if I go to anywhere with the Euro), but then I obviously will still need to have a bank account to transfer to.

Any ideas?

Thanks a lot :money:

97trophy

try citibank london, free Euro account.

System

Nationwide do not charge for receiving euros, and their agent HSBC uses a reasonable exchange rate. However, they only accept payments via the legacy SWIFT method, which is expensive and annoying for the sender.
http://www.nationwide.co.uk/search/DisplayArticle.aspx?article=1572

Shimynor

YoungNick wrote: »

Nationwide do not charge for receiving euros, and their agent HSBC uses a reasonable exchange rate. However, they only accept payments via the legacy SWIFT method, which is expensive and annoying for the sender.

I have already received money from them, so does this mean they used the Swift method?

Thanks

System

Shimynor wrote: »

I have already received money from them, so does this mean they used the Swift method?

Don't know. What did it say on your statement?
If they got a bank in their home country to transfer euros, then, as far as I know, they must have used SWIFT, and it will say so on your statement. Did you give them the full rigmarole that Nationwide specifies, with both the MIDL and NAIA BICs?
Alternatively, if they pay a lot of people in the UK, they might have a GBP account with a UK bank, and might have paid you in GBP. If so, your statement entry should have been just 'Bank credit' or maybe now Faster Payment.