UK Bank Accounts accept income in Euro or $?

buckman

I thought i'd ask here if there was any UK bank I should look at that would accept payments in US $ or Euro, that I wouldn't have to pay a surcharge or fee each time?

I have just checked with my current bank (Santander) and they say they only every accept UK Sterling? So no chance of a conversion (even if it did have a fee attached)....

So are there any banks that would accept $ with low currency transaction fees or indeed £0 fees that I should take a look at?

Thank you for any help.

Futuristic

I think Barclays/HSBC are the ones that can provide a USD/EUR account but you need to be a high earner.

Perhaps take a look at Payoneer for virtual debit card in USD, you could then use a site like TransferWise to transfer USD > GBP at a decent rate.

Payoneer gives you a acc number where you can get paid in USD if payment is made via ACH or SEPA in EU.

grumbler

buckman wrote: »

I thought i'd ask here if there was any UK bank I should look at that would accept payments in US $ or Euro, that I wouldn't have to pay a surcharge or fee each time?

And what will you do with € and $ in UK?

I have just checked with my current bank (Santander) and they say they only every accept UK Sterling? So no chance of a conversion (even if it did have a fee attached)....

Rubbish. They will accept and convert to £ for ~3% fee. So will any other banks.
Some banks charge a flat fee as well, but Santander doesn't.

Futuristic wrote: »

I think Barclays/HSBC are the ones that can provide a USD/EUR account but you need to be a high earner.

You don't have to be a high earner. Barclays € account is free. Their $ account is £7 p.m. if the balance is below $2K.

buckman

grumbler wrote: »

Rubbish. They will accept and convert to £ for ~3% fee. So will any other banks.
Some banks charge a flat fee as well, but Santander doesn't.

Exactly what I thought, but apparently not...

Might ask someone else at Santander the same question, as I don't believe it either!?

grumbler

Asking the CS or 'someone else' is the last resort if you can't find a more reliable source of the information you need.

How can I receive money via a CHAPS or International Payment?

buckman

grumbler wrote: »

Asking the CS or 'someone else' is the last resort if you can't find a more reliable source of the information you need.

How can I receive money via a CHAPS or International Payment?

Thank you.

I put this post up as I did say to Santander, that I will need to change my bank then if they think that Sterling is the only currency in the world (what CS implied!)

I tried to find this info, but didn't see it so thought ringing would be a quick and fast solution. However CS 'should' have quoted me this too (but didnt).

eDicky

buckman wrote: »

I put this post up as I did say to Santander, that I will need to change my bank then if they think that Sterling is the only currency in the world (what CS implied!)

I tried to find this info, but didn't see it so thought ringing would be a quick and fast solution. However CS 'should' have quoted me this too (but didnt).

They are not only very ignorant but also negligent in not promoting Santander's chance to make money on the exchange.

Depending on the source of your payments, there is usually a way to avoid all bank fees and exchange rates on transfers, by using transfer agents / brokers.

buckman

eDicky wrote: »

They are not only very ignorant but also negligent in not promoting Santander's chance to make money on the exchange.

Depending on the source of your payments, there is usually a way to avoid all bank fees and exchange rates on transfers, by using transfer agents / brokers.

Any links or advice would be great. Its a potential income in $, but I reside in the UK so just seeing which ways would be better..

grumbler

MSE: Sending Money Abroad

fxcompared.com
mycurrencytransfer.com

The problem with brokers is that the money has to be sent to some common account with a unique reference. Not all companies paying you are willing to do this.

buckman

Just rang again about Santander, and they don't charge for any currencies coming into the account?!

So they have no idea who the woman was who told me this and answered my call? (cleaner?)

After calling HSBC, and Barclays, who both have a small fee each time, it looks like Santander are free for incoming payments, which is good as I have a long term account with them

Just don't ring the CS, as you might get someone passing a phone box answering your call it seems...

Futuristic

buckman wrote: »

Just rang again about Santander, and they don't charge for any currencies coming into the account?!

So they have no idea who the woman was who told me this and answered my call? (cleaner?)

After calling HSBC, and Barclays, who both have a small fee each time, it looks like Santander are free for incoming payments, which is good as I have a long term account with them

Just don't ring the CS, as you might get someone passing a phone box answering your call it seems...

It's probably free because their currency exchange rates are probably horrible