EU Bank Accounts

Katiehound

colsten wrote: »

I am surprised you don't use a currency transfer service (e.g. Transferwise) to load your Euro account.

Please elaborate on this. I had a quick google. Is there a minimum transfer sum?
As I said until about 2 years ago I could just write a UK cheque and it went thro at the rate of the day with no commission.

Actually I don't want to use the a/c outside ROI- it's not worth it! At least there are no bank charges as long as I stay in credit.

I'm happy with Clarity!... and the extra £5 too....

colsten

Their site says the minimum is 1 Euro. https://transferwise.com/

https://youtu.be/XXvS6JnNJ30

I have used it countless times, both to and from my Euro account.

System

You shouldn't be charged for any differently for electronic Euro transactions (e.g. paying by debit card) than you would inside the member state i.e. Ireland.

Paper based transactions (primarily cheques) aren't covered by the legislation

eDicky

Katiehound wrote: »

Actually I don't want to use the a/c outside ROI- it's not worth it! At least there are no bank charges as long as I stay in credit.

I'm happy with Clarity!... and the extra £5 too....

By all means, use your Clarity. But what's wrong with also using your RoI euro debit card as a backup and for interest free ATM withdrawals during European travel. Mentioning imaginary 'hefty handling fees' and being 'not worth it' tends to be misleading information.

Katiehound

eDicky wrote: »

By all means, use your Clarity. But what's wrong with also using your RoI euro debit card as a backup and for interest free ATM withdrawals during European travel. Mentioning imaginary 'hefty handling fees' and being 'not worth it' tends to be misleading information.

Wish I had never replied to this thread!
When I go into the bank next month I will ask about charges!
No, I don't want to use the debit card outside ROI firstly because the Clarity suits me fine- I don'tneed a backup, secondly because until I received the info above I have had problems feeding that a/c from UK.
There are no perks for banking in ROI, no switching gifts and govt tax on cheques, debit cards and no doubt CCs

eDicky

Katiehound wrote: »

Wish I had never replied to this thread!
When I go into the bank next month I will ask about charges!
No, I don't want to use the debit card outside ROI firstly because the Clarity suits me fine- I don'tneed a backup, secondly because until I received the info above I have had problems feeding that a/c from UK.
There are no perks for banking in ROI, no switching gifts and govt tax on cheques, debit cards and no doubt CCs

I think you are fortunate to have entered the thread and had a few misconceptions dispelled.

Another one is not needing a backup - it is unwise to travel with only one source of funds. Your Clarity, like any card, could become lost, blocked, be declined or otherwise unavailable. Better to have at least one backup and if that is fee-free, all the better. And ATM withdrawals with Clarity start to incur interest from day one, so if it is not convenient to pay it off for a while it would be cheaper to use your debit card.

By the way, you could 'feed' your RoI account totally free if you use a smartphone and open a Revolut account with their app. Load in GBP, convert to EUR at interbank rate, then withdraw to RoI account.

Katiehound

eDicky wrote: »

By the way, you could 'feed' your RoI account totally free if you use a smartphone and open a Revolut account with their app. Load in GBP, convert to EUR at interbank rate, then withdraw to RoI account.

Thanks that would be neat way to feed it- if I had an all singing dancing phone!!!! Mine is... a phone!
The transferwise info has helped me greatly as sometimes I have essential big bills- new septic tank last year! this year 4 new windows....
Sorry to have poached A.N.Other's thread!

eDicky

Katiehound wrote: »

Sorry to have poached A.N.Other's thread!

Hey, don't worry, it's not much use for the OP's purpose (unless the wedding is over on the continent) but the more we can learn about euro accounts in RoI, like yours, the better. There are always people asking about how to have a euro account, another one just now...

If you can check your T&Cs about card fees, or ask them, let us know please. I really doubt they exist.

colsten

eDicky wrote: »

If you can check your T&Cs about card fees, or ask them, let us know please. I really doubt they exist.

One thing that does exist in the RoI is a government tax on cards, as Katiehound mentioned. It's not life-changing amounts but a totally alien concept for us. My Euro account (held with a german bank) doesn't have any such charges, so it's not a "Euro thing", just an irish one. Let's hope nobody in the UK Treasury gets similar ideas.

Eco_Miser

colsten wrote: »

One thing that does exist in the RoI is a government tax on cards, as Katiehound mentioned. It's not life-changing amounts but a totally alien concept for us.

Well, I can remember when there was 2d stamp duty on every payment by cheque, and also stamp duty on every receipt, so not totally alien - just antique.