I get paid in euro's which bank account is best?

miamoo

Can anyone recommend a bank or building society that is best when you get paid from abroad in euro's?
My first pay was 198 euro and halifax gave me £155.
Is this about average? are there any better accounts to use?
Thanks

nomoneytoday

Is it a regular thing or a one off?
Are you travelling to the eurozone in the near future?
Is it cash or electronic?

miamoo

Its a regular thing, I get paid every month now and it will be more money in future, that was a weeks wage for end of Feb.
Yes I'm going to spain in June and I'm not sure if its cash/electronic, they used my banks IBAN code to make a transfer so I think thats probably classed as electronic?
Thanks for the reply

Pugwash69

I'm only guessing, but I would look at Bank of Ireland myself. My Post Office mastercard is issued by them and they give good exchange rates when I'm on holiday in Europe.

The exchange rate they show today on the P.O. web site for GBP to Euro is
1 GBP = 1.1890 EUR

...which would give you about £166 if it works both ways.

benjus

Pugwash69 wrote: »

I'm only guessing, but I would look at Bank of Ireland myself. My Post Office mastercard is issued by them and they give good exchange rates when I'm on holiday in Europe.

The exchange rate they show today on the P.O. web site for GBP to Euro is
1 GBP = 1.1890 EUR

...which would give you about £166 if it works both ways.

It's quite a big assumption to say that it would work both ways. It would need further investigation.

£155 isn't really too bad... the only real alternative would be to get an Euro account and transfer to GBP periodically.

miamoo

Thanks for the replies. If £155 isnt bad then I might just stick with Halifax, I just wanted to make sure I wasn't losing out massively.
Thanks again x

jonesMUFCforever

Sorry but to take advantage of exchange rates banks/forex companies will need to deal with a lot more than the sums you are paid.

This may sound harsh but in this case you won't get much better rates than you are getting now - it's part of the risk you took when you decided to take a job paying in a different currency.

nomoneytoday

miamoo wrote: »

Its a regular thing, I get paid every month now and it will be more money in future, that was a weeks wage for end of Feb.
Yes I'm going to spain in June and I'm not sure if its cash/electronic, they used my banks IBAN code to make a transfer so I think thats probably classed as electronic?
Thanks for the reply

If it's regular then maybe look at an account with someone like Citibank, as they offer multi currency accounts?