Euro Account in the UK

vendriegal

I am not sure if this is the correct place to post this but I have done a search but cannot find anything that relates to my query... I am selling my house in France and need to bring the euros back into the UK. I have heard that the easiest way is to have a euro account already setup here for the solicitor send the funds to. Does anyone have some experience of this and can anyone recommend a bank. I am currently with Santander and they don't do a euro account.

Thank you
Vendriegal

Archi_Bald

There are plenty of MSE threads discussing Euro accounts.
https://www.google.com/search?as_q=&as_epq=euro+account&as_oq=&as_eq=&as_nlo=&as_nhi=&lr=&cr=&as_qdr=all&as_sitesearch=forums.moneysavingexpert.com&as_occt=any&safe=images&tbs=&as_filetype=&as_rights=

jonesMUFCforever

Most Euro accounts offered by the banks will be offshore.
What is your intention when you get the funds - will you be wanting to keep the Euros or exchange them back to sterling?

DCFC79

Im surprised Santander don't do a euro account, expected them to do 1.

jonesMUFCforever

DCFC79 wrote: »

Im surprised Santander don't do a euro account, expected them to do 1.

Don't give them ideas they have enough problems with sterling accounts

catokelly

Having a Euro account in the UK wont necessarily be the best solution. Most banks charge expensive monthly fees for having a currency account and you will still have the issue of wanting to convert the Euros to Sterling at a decent rate.

If you use an international money transfer specialist you could transfer the Euros to their Client Euro account and they would be able to convert the Euros to Sterling at much better rates than the banks and then transfer the Sterling to your Uk bank account (they can also hold the Euros if you dont want to convert them to pounds straightaway).

papachango

I have started work for an organisation that deals with EU funded projects. Although the organisation is UK-based, I can only be paid in Euros because this is how they receive their funding. I need to find a Euro account to deposit my wages and withdraw cash when I am abroad.

BonkersBonkers

papachango wrote: »

I have started work for an organisation that deals with EU funded projects. Although the organisation is UK-based, I can only be paid in Euros because this is how they receive their funding. I need to find a Euro account to deposit my wages and withdraw cash when I am abroad.

Why? Give them your bank details - any funds received by your bank in Euros where a Euro account is not held will automatically be converted to sterling.

papachango

I don't understand. Why would I want the money in sterling? The company would be charged for the currency conversion and I would then have to convert the money back into euros. This doesn't make sense at all.

jonesMUFCforever

Well an Euro account is going to cost you in UK and probably based overseas anyway. IMO you would be better off opening one in an Euro zone country.

System

papachango wrote: »

I need to find a Euro account to deposit my wages and withdraw cash when I am abroad.

In the UK, Citibank offers a euro current account. But in practice you need a GBP account with them too, and they make a monthly charge for the euro account (unless you keep a lot of money in it).
Alternatively you could open a current account in one of the countries you visit, eg with La Poste in France, or (if you speak German) DKB in Germany. La Poste charges a fee for its plastic cards; DKB does not.