Pls recommend a bank for business banking with good currency exchange rates for SEPA

vladlondon

Hi,

Looking for recommendations: I'm looking for a business bank account in the UK (within Faster Payments system) that offers cheap SEPA transfers and good currency conversion rates.

What I'm looking for is to be able to convert, say, £5,000 to euros and send it as SEPA payment to a European recipient, and lose 0.5% of the sum max (if we use mid-market GBP/EURO rate).

I know I can do that via Transferwise and similar services which is ok with me, but I was just thinking if I can remove complexity a little bit and have it done directly from a bank.

Thanks.

jonesMUFCforever

No bank will run a service these days unless it makes money for them.

(Unrelated to your thread but have you noticed some pre paid cards are being withdrawn - could it be that the penny has dropped that they are losing money on these?)

eDicky

No such business bank account exists. The new 'mobile only' bank, Starling, say they offer the service (using TransferWise) for personal.

There's no great complexity with TransferWise after the first transfer to a new payee. Have a look at their new 'Borderless Account' for business users (and personal), which should simplify it and allow non-sterling funds to be held with them.

eDicky

jonesMUFCforever wrote: »

have you noticed some pre paid cards are being withdrawn - could it be that the penny has dropped that they are losing money on these?)

Which ones, apart from Supercard?