Earning in euros and sterling bank account

sOULsista

I am a contracting in Belgium and being paid in euros which is getting deposited directly into my sterling account in the UK. Every month i am getting charged heftily and am losing as much as a day's wages each month.

As i am based in Belgium temporarily, i decided against setting up a euro account here.

Like to know what are my options to minimise this hefty loss as a result of currency exchanges each month.

Any solution offered will be greatly appreciated

grumbler

sOULsista wrote: »

..
As i am based in Belgium temporarily, i decided against setting up a euro account here.

Like to know what are my options to minimise this hefty loss as a result of currency exchanges each month. ...

Set up a € account in Belgium or UK? I think the former is easier.

sOULsista

Hi there,

Thanks for your reply. But what would be the best most economical way then for transferring these euros to a sterling bank account in the UK? As i am going to get charged heftily by the bank for this conversion.

grumbler

http://www.mycurrencytransfer.com/money-transfer-to-UK/1000-EUR

catokelly

Use an international money transfer specialist to get the very best rate. Once you have registered, you/your employer could transfer Euros directly to the client Euro account and they would convert the Euros into GBP at much better rates than all banks. Unlike banks, they will always let you know the rate and will only convert the Euros to Pounds once you are happy to book the rate (for example you could wait until it hits a certain rate). Doing this will also avoid the need to open a Euro account with your bank.

Also, with the banks, you usually wont know what rate they have given until after the transaction has been done.