Citi Foreign Currency Current Account

Lith

YoungNick wrote: »

If you meet Citi's requirement of income more than £20000 a year, you can open Citi euro and GBP accounts. Citi does not (currently) charge to receive SEPA Credit Transfers into Citi euro (or for that matter GBP) current accounts.
However, all the big UK banks' GBP current accounts also (at present) accept incoming SEPA Credit Transfers without fee, though of course they slap whatever markup they see fit on the euro to GBP conversion.
It is surprising if your Spanish bank charges a significant fee for a transfer of euro to a UK account, because the EC regulation requires Spanish banks to charge the same to send euro from Madrid to Birmingham as they do to send euro from Madrid to Toledo.

I, heard about this... i think it seems silly that you need a 20k job to get a Citi Debit card/account?

What makes them so demanding? hmmm

efundz1 wrote: »

Sorry this is a bit Off Topic (OT) but out of interest why would you mention MetroB, do they offer Euro / USD accounts??

ciao

Was on there website before.. there still new.. and website is basic i cant find any EU/US currency thing on there.


(could be looking in the wrong place tho)

jonesMUFCforever

They don't want hundred of thousands of once a year holiday makers filling their branches to open currency accounts which will barely be used and cost them a fortune to maintain.

efundz1

jonesMUFCforever wrote: »

They don't want hundred of thousands of once a year holiday makers filling their branches to open currency accounts which will barely be used and cost them a fortune to maintain.

Well you do have a valid point there, anyway I will ask when I pop by nxt weekend

dzug1

Lith wrote: »

Was on there website before.. there still new.. and website is basic i cant find any EU/US currency thing on there.
)

They don't have a foreign currency account

What they do offer is a sterling account with a debit card that gives free overseas transactions - no fees, no loading - for spending and ATMs.

park_gate

YoungNick wrote: »

However, all the big UK banks' GBP current accounts also (at present) accept incoming SEPA Credit Transfers without fee, though of course they slap whatever markup they see fit on the euro to GBP conversion.

However you can ask the Spanish bank to do the conversion into GBP and you will general get a better rate than a rip off UK bank.

It is surprising if your Spanish bank charges a significant fee for a transfer of euro to a UK account, because the EC regulation requires Spanish banks to charge the same to send euro from Madrid to Birmingham as they do to send euro from Madrid to Toledo.

This is not true, it only applied within the Eurozone and as the UK is outside the Eurozone the UK banks can charge whatever they like.

I want to send money abroad and Santander in the UK quote a price but then said they used an intermediary who would take a commission. When I asked they could not tell me who the intermediary was nor how much they would charge!

Can you imagine buying something from a supermarket and they said their bank would add a charge to your bill but they didn't know how much. Its a joke.

Terry

KTF

You would probably be better getting a Halifax Clarity card and paying it off via online banking as soon as you spend on it.