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European accounts?
guitarman001
Posts: 1,052 Forumite
Hi all,
Suppose you'd just opened a raft of new UK bank accounts and share ISA for drip-feeding into a fund. Then you got work over in Europe... what do you think of converting your currency in Euros to pounds and continue to service those £GBP accounts? Is that madness or would one be better off opening European equivalents?
Has anybody faced this situation? While I'm at it.. I'm drip-feeding into a Vanguard fund with Hargreaves Lansdown right now - does anybody know if there is the equivalent (preferably Vanguard itself) for European accounts?
Thanks!
Suppose you'd just opened a raft of new UK bank accounts and share ISA for drip-feeding into a fund. Then you got work over in Europe... what do you think of converting your currency in Euros to pounds and continue to service those £GBP accounts? Is that madness or would one be better off opening European equivalents?
Has anybody faced this situation? While I'm at it.. I'm drip-feeding into a Vanguard fund with Hargreaves Lansdown right now - does anybody know if there is the equivalent (preferably Vanguard itself) for European accounts?
Thanks!
0
Comments
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No thoughts? I guess this isn't so common for folks on this forum.
I was also wondering just HOW you would go about converting income in Euros in a European bank account... to £GBP in a UK bank account... preferably online and easy to do.
This HAS to be a common thing!?0 -
guitarman001 wrote: »HOW you would go about converting income in Euros in a European bank account... to £GBP in a UK bank account... preferably online and easy to do.
Hargreaves Landsdown have a currency service, but it might be telephone only.
I've also used the Fairfx "Fair pay" system, but to go from sterling to dollars and Euro.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Good to know - thanks!0
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You don't say what country you will be in but banks like HSBC and Citibank will also allow you to have current accounts in the UK and the eurozone - and make changing money between the two currencies easy (with HSBC you can just do it online)
Depending how long you are overseas, you may not be entitled to add additional funds to a ISA account in the UK.
Regards
Sunil0 -
Surely it depends on where you are going to spend the money and the actual interest rates. Also you will lose 5% or more instantly, if you convert too many euros and need to turn some pounds back at a later stage.
It also depends if you want to try your hand at guessing which direction currencies will move.0 -
Is the Vanguard fund approved for tax purposes in the new country of residence?0
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