EU Bank Accounts

David_Gibbs_2

Hi,

I am looking to set up a joint bank account to help save for my wedding. MSE and all comparison sites show me all national providers but no comparison with EU bank accounts, or none that I can see.

Since we are within the EU and free movement and equality across the States I was wondering if it is possible to see if I can get a better deal in another jurisdiction? I imagine it is possible due to the TFEU, unless there are other regulations on banking I am not aware of.

If not, I would just like to know which is the best joint bank account for someone looking to pay in around £400pcm.

Thanks,

David

jonesMUFCforever

IMO you are wasting your time.
Even if you find a better interest rate in the EU you will lose heavily when you factor in charges and currency fluctuations.

Katiehound

David_Gibbs wrote: »

Hi,
Since we are within the EU and free movement and equality across the States

I think that is just a theory! I have a bank a/c in ROI and as far as I am aware there is no facility for me to use that account anywhere else in europe despite being in euros.

eskbanker

Katiehound wrote: »

David_Gibbs wrote: »

Since we are within the EU and free movement and equality across the States

I think that is just a theory! I have a bank a/c in ROI and as far as I am aware there is no facility for me to use that account anywhere else in europe despite being in euros.

It's not a theory, it's a reality, but only in areas such as free movement of labour, goods, etc, not banking (and many others).

OP - I'd forget about Europe and just concentrate on funding some UK-based regular saver accounts.

eDicky

Katiehound wrote: »

I have a bank a/c in ROI and as far as I am aware there is no facility for me to use that account anywhere else in europe despite being in euros.

Don't they provide you with a euro denominated debit card?

colsten

Katiehound wrote: »

I think that is just a theory! I have a bank a/c in ROI and as far as I am aware there is no facility for me to use that account anywhere else in europe despite being in euros.

What do you mean by "use"?

Katiehound

colsten wrote: »

What do you mean by "use"?

Like write cheques??.....
If I need money in europe (or in ROI come to that!) I just use my Halifax Clarity card but I somehow assumed that a euro based account might make life easier in the eurozone.
And I don't have it for perks!- there aren't any- I need it to pay for essentials like property tax, water and electricity! It's also a pain to feed as once I used to be able to write UK cheques and they went thro as foreign exchange- no charge. Not any more- need to take the dosh in hand or pay a transfer fee here.

I certainly wouldn't consider having a bank a/c there unless it was vital.

Katiehound

eDicky wrote: »

Don't they provide you with a euro denominated debit card?

Yes, but think there is a hefty handling fee for using anywhere abroad- euros or anything else. Therefore only use it locally.

colsten

Katiehound wrote: »

Like write cheques??.....
It's also a pain to feed as once I used to be able to write UK cheques and they went thro as foreign exchange- no charge. Not any more- need to take the dosh in hand or pay a transfer fee here.

Katiehound wrote: »

Yes, but think there is a hefty handling fee for using anywhere abroad- euros or anything else. Therefore only use it locally.

Yours sounds a very odd account. I have a Euro account that comes with a debit card which can be used anywhere in the EU, Switzerland and Turkey. Euro transactions are free of charge, non-Euro ones do get charged but I only use it for Euros.

I am not surprised that cheques aren't offered as cheques were never as popular in most other EU countries as they are in the UK. I am surprised you don't use a currency transfer service (e.g. Transferwise) to load your Euro account.

eDicky

Katiehound wrote: »

Yes, but think there is a hefty handling fee for using anywhere abroad- euros or anything else. Therefore only use it locally.

Perhaps you should make sure. Which bank is it? I would be somewhat surprised if there are charges for the card's use anywhere in the Eurozone.

guesswho2000

colsten wrote: »

Yours sounds a very odd account. I have a Euro account that comes with a debit card which can be used anywhere in the EU, Switzerland and Turkey. Euro transactions are free of charge, non-Euro ones do get charged but I only use it for Euros.

I am not surprised that cheques aren't offered as cheques were never as popular in most other EU countries as they are in the UK. I am surprised you don't use a currency transfer service (e.g. Transferwise) to load your Euro account.

Agree with this, I used to have a ROI bank account with Ulster Bank in Euros. It was free to use anywhere in the Eurozone, and I could use it for free at NatWest/RBS ATMs in the UK (no withdrawal fees/foreign exchange fees).

I binned it off when they introduced a fee or minimum monthly funding requirement, about 4 years ago IIRC.