How to Bank when Travelling?

Stuckon100forever

I currently bank with Barclays, but next Spring will be travelling for several months across Europe. I have online banking however, I plan to earn money along the way and would like to pay this into an account.

I have checked with the Barclays Alliance and can use these cash machines to withdraw free of charge:

• France BNP Paribas
• Germany Deutsche Bank

Does anyone know how I can deposit/get money into my Barclays Account? Obviously the cash I earn will be in Euros. Can I use a Barclays Alliance deposit machine/cashier? Or would I need to setup another account with another bank (and if so who do you recommend?)

Would appreciate any advice/experience on how I can make deposits into my account or perhaps money transfer from Western Union etc?

missile

You can make a BACS transfer at almost any bank, but you will pay charges. However, I would suggest this may be accademic. Unless you have some special skills? You will find it difficult to find a job let alone earn enough money to send home.

I suggest you speak with Barclays and maybe open a bank account in EU land. For example, I have an account with Barclays.es

Rafter

Would seem to make sense to open a Euro account - otherwise you will be clobbered with charges and poor conversion rates.

When you do want to convert from Euros to sterling you should then speak to a money broker who can get you a better rate than using a high street bank.

Good luck

R.

Rafter

PS.

Might be worth getting yourself a Halifax credit card too which will give you the best rate for purchases and cash withdrawals overseas following Nationwides introduction of charges.

R

heloid

What I recommend you do:
Go on a day trip to Ireland and pop in to a National Irish Bank branch (or other bank) with as much ID, bills, bank account statements (proof of address), etc as you can find and open a Euro current account with them. They will let you even if you are a UK resident. They will also give you a debit card that is accepted in ATMs in every country in the euro-zone.

The benefits:
You can get paid directly in euros with no currency conversion costs. There will be no currency conversion charges when you buy things or withdraw cash either. This will save you a bucket load. When you finish your holiday you can transfer any left overs in to your UK £ account.
If you get paid cash it should be fairly easy to deposit the cash in to your account as well (well, simpler/cheaper than a UK account).

The only snag you could have is if your employer refused to pay you in a foreign bank account, but given I got paid in my Belgian account while working in the Netherlands I think you should be alright.

Stuckon100forever

heloid wrote: »

What I recommend you do:
Go on a day trip to Ireland and pop in to a National Irish Bank branch (or other bank) with as much ID, bills, bank account statements (proof of address), etc as you can find and open a Euro current account with them. They will let you even if you are a UK resident. They will also give you a debit card that is accepted in ATMs in every country in the euro-zone.

The benefits:
You can get paid directly in euros with no currency conversion costs. There will be no currency conversion charges when you buy things or withdraw cash either. This will save you a bucket load. When you finish your holiday you can transfer any left overs in to your UK £ account.
If you get paid cash it should be fairly easy to deposit the cash in to your account as well (well, simpler/cheaper than a UK account).

Thanks Heloid - however a few questions....

• I wasn't planning on going to Ireland at any time before I leave. However I could make the trip if I thought I had a guarantee of opening the account. I have all the I.D./statements etc but the problem is my Credit Rating is not very good so I fear I would not pass their check. Do they use the exact same CRA's as in the UK?

• What reason do I give for wanting an EU account? Can I tell the truth (travelling) or will they find it strange/dodgy that I've gone all that way for a new bank account?

• How would I pay-in my Euros to my NIB account abroad, do they have branches?

With regards to making money on my travels, I should have made it clearer. I don't plan on getting a normal job, I'm a part-time musician and in the past have street performed etc.. I'm not being big-headed or anything but I am decent and have made good "buskin" in the past, occasionally with crowds gathering . I'd also be willing to do other work for money like fruit picking etc.

I'll be living in my van-conversion so the only costs on my travels will be fuel, food & occasional camping. I'll have my own money (debit card) but I'd ideally like to "pay-in" surplus Euro's/Coins in to an account. If all goes wrong I could use western union or moneygram etc but there fees are expensive (eg €7.90 for €100 Transfer to UK) plus never used before and not sure if I can even transfer to a Bank or an Agent shop etc.

Just had a look at the Barclays Euro account, it comes with a cheque book so I'm guessing I won't get that Euro account as they wouldn't give me one for my Sterling basic account. Was also thinking of perhaps an Instant Access Savings account with Santander, though not sure if I could use overseas branches hmm..??

Stuckon100forever

....also forgot to add to my original post, the Reason why I want a 2nd account is for additional security on my travels. For example if an Overseas PIN Machine swallowed my debit card (and credit card) then I would be stuck for some days while trying to get Barclays/Family to forward a replacement on to me. If I was on a holiday I wouldn't be concerned but I'll be on the road travelling across different countries for 3 months. Just want to be ready for anything.

jyonda

You may not be able to open bank accounts along the way as EU money laundering rules make it difficult/impractical to setup bank accounts. I would recommend asking your existing bank account provider Barclays if they can offer a you linked Euro balance account that would have the benefit of being in the local denomination and easy to administer without additional setup hassle.

If Barclays won't offer this then you can open up an account with Citibank who should be able to set this up for you. I have a Citibank card which is linked to several different accounts in different currencies. They will also have have branches in almost every country but check first to see if they are located in the cities you will travel to.

Alternatively you can just get any Euro (there are still many other currencies in the EU by the way) income paid directly into your UK account using the account IBAN number. IBAN numbers are used for EU bank transfers and it shouldn't cost anything to make the transfer (depends on your bank I think) but obviously the rate of exchange may not be that great. Transferring cash may be expensive though if that's how you will be paid.

Hope this helps and have a great trip!

Stuckon100forever

jyonda wrote: »

Alternatively you can just get any Euro (there are still many other currencies in the EU by the way) income paid directly into your UK account using the account IBAN number. IBAN numbers are used for EU bank transfers and it shouldn't cost anything to make the transfer (depends on your bank I think) but obviously the rate of exchange may not be that great. Transferring cash may be expensive though if that's how you will be paid.

Hope this helps and have a great trip!

Thanks, I'm not too concerned about exchange rates but just would hate to have to pay separate transaction fees as well. I also don't wish to open bank accounts in each country, one simple Euro account will be great. Will look in to Citibank too

jyonda

Take look at this:

http://www.citibank.co.uk/personal/banking/international/deposits.htm?merchant=citi

You can open an account for travelling then if you lose the card or whatever, fall back on the Barclays card. Just don't keep them in the same place!

chriskross

missile wrote: »

You can make a BACS transfer at almost any bank, but you will pay charges. However, I would suggest this may be accademic. Unless you have some special skills? You will find it difficult to find a job let alone earn enough money to send home.

I suggest you speak with Barclays and maybe open a bank account in EU land. For example, I have an account with Barclays.es

I think you mean 'the eurozone'. The UK is in the EU