Euro bank a/c in the UK?

kev2012

Hi all,
I occassionally get euro checks that I pay into Nationwide and they charge there usual fee based on the xchange rate which is about £6.50ish for a 50 euro cheque.
I was just wondering if anybody knows of a euro current a/c that can be opened in the UK where I can send these cheques to and avoid the charges please?
Thanks and kind regards,
kevin

DunPin

You can get Euro holding accounts in the UK, they are practically useless and I believe you're charged regardless.

I recently tried and failed to open a Euro account in France so I'm now looking towards Germany, they have Comdirect and DKB that are online banks which you can open both from abroad, both have free banking with no minimums to fulfil. Comdirect looks like the more attractive option due to the partnership with Commerzbank.

My advice is to look at Eurozone for an account rather than the UK.

kev2012

Thanks for the suggestions!
My problem is though...having the physical euro cheques here in the UK and what to do with them....unless I could post them to the bank for crediting maybe??

Regards,
kev

DunPin

Could you get a direct bank transfer for them instead? You should be able to send the Eurozone bank a cheque (it'd be ridiculous if they didn't allow it) however a bank transfer would most likely be easier, especially if the money is coming from a Euro account (at least it should be if their sending you Euro cheques).

John1993_2

Citi offer both EUR and USD current accounts in the UK.

kev2012

Thanks Dunpin,
No,its not business you see...its gifts so I cant ask for bank transfers.

Thanks John,
I'll have a look at citi.

Regards,

DunPin

kev2012 wrote: »

Thanks Dunpin,
No,its not business you see...its gifts so I cant ask for bank transfers.

Thanks John,
I'll have a look at citi.

Ah okay I see.

If you do go with Citi, you must remember that you need a minimum balance of £2,000 (or Euro equivalent) otherwise a £5 monthly fee applies. I also believe that if you get cheques and you live outside London (an area with no branches) you need to send them in rather than going to Lloyds to cash them in like you can with Sterling cheques.

It would make sense to attempt to open a German Euro account with Comdirect or DKB (online accounts although it appears Comdirect customers can use Commzerbank to deposit money too), both of which are largely free of fees and come with debit cards (EC and/or V-Pay).