euro and sterling account

Crakey

We are soon to rent a property in greece, for at least 5 years ,:j but not forever. :cool:
Our Nationwide bank is fine but they don't do a euro account. What's the best bank for our new venture.
Knowing something about the Greek problem I am reluctant to use a Greek bank.
We just need a bank that can pay direct debits or whatever they call them, in euros, as well as the UK DDs in sterling.
Thanks, Crakey.:)

missile

You are braver than me. I would stay clear of Greece.
Most if not all banks can provide a euro account. I get very good service from Barclays.

RetiredInThailand

If I were you I would open a local Greek account for day-to-day use, but only keep a minimal amount in it. Open a EUR account outside of Greece and transfer your funds there as you need them.

One of the Belgian or German EUR accounts already mentioned on here would probably suit you.

I would also be very wary of signing a 5-year rental agreement for property in Greece with rent fixed in Euros, as there is a possibility that you may only need to pay in some devalued Greek currency at some point during the 5-year term. You may want to think about that when negotiating your rental agreement.

Mikhail

Open a Citibank account in Euro here or/and in Greece, Citibank is isolated from the Greek crises, moving money between UK and Greek Citibank is free.

RetiredInThailand

Mikhail wrote: »

Open a Citibank account in Euro here or/and in Greece, Citibank is isolated from the Greek crises, moving money between UK and Greek Citibank is free.

Citibank pay hardly any interest. The German and Belgian banks mentioned pay about 2%. Whether the interest is greater than the charges will depend on individual circumstances but it's got to be worth looking at.

Mikhail

RetiredInThailand wrote: »

Citibank pay hardly any interest. The German and Belgian banks mentioned pay about 2%. Whether the interest is greater than the charges will depend on individual circumstances but it's got to be worth looking at.

Great! Will you be able to open a German or Belgian account from the UK with a debit card? I think we know the answer.

PS
Banks in Azerbaijan pays up to 16%

Mikhail

Hi Crackey,

“Currency brokers” is a new definition of legal crooks and speculators. They are not regulated by FSA (Financial Services Authority), therefore, there is no guarantee if you receive your money. They hide their fees & commissions inside of the exchange rate, therefore, they usually advertise “No fees and No commissions” and it is impossible to find out how much they actually charged you.

RetiredInThailand

Mikhail wrote: »

Will you be able to open a German or Belgian account from the UK with a debit card? I think we know the answer.

I do know the answer and it is "yes". There are three German and Belgian banks that have been mentioned in here recently that will open interest-paying accounts for non-residents, and I think that all will provide a debit card.

There are also several other accounts that pay less interest that can be opened by non-residents.

But of course the OP doesnt need to have debit card from those banks if he also opens a local Greek account for day-to-day use as I suggested. That is how I would do it.

Mikhail

RetiredInThailand wrote: »

I do know the answer and it is "yes". There are three German and Belgian banks that have been mentioned in here recently that will open interest-paying accounts for non-residents, and I think that all will provide a debit card.

There are also several other accounts that pay less interest that can be opened by non-residents.

But of course the OP doesnt need to have debit card from those banks if he also opens a local Greek account for day-to-day use as I suggested. That is how I would do it.

Would you please provide web addresses of those banks, so I can open an account with them online? Many thanks

innovate

Mikhail wrote: »

Would you please provide web addresses of those banks, so I can open an account with them online? Many thanks

and me - - thanks, much appreciated!

mgdavid

Mikhail wrote: »

Would you please provide web addresses of those banks, so I can open an account with them online? Many thanks

read this thread
https://forums.moneysavingexpert.com/discussion/3741997