Fire.com Euro Account

Blaze754

I have been looking for a simple and cost effective Euro account for personal use. Searching the web I have come across Fire.com which has no fees other than 10p per debit transaction. does anyone have any comments about this company / account anything I should be concerned about i look forward to your comments

DCFC79

What do you want 1 for ?

Can get a credit card with 0% for foreign purchases.

The Revolut card lets you spend in person.

eDicky

If you fund this account in GBP there's a 1.25% FX margin to pay when converting to euros. What's your intended purpose?

Blaze754

Hi Thanks for responding, I receive a euro income some times and want to keep some of that income in Euros for my trips to Europe. I also want to make sure my money is safe putting it with this company so I was looking for reviews.

cheers

eDicky

Thanks for expanding. I had never heard of Fire, it may be quite new. My first impression of their site is full of hype about the characters involved and short on useful info, which you have to dig for.

You could use it to receive salary then transfer it to a proper bank account, but with a euro bank account you could receive salary there directly. See the relevant nearby thread.

Blaze754

I appreciate your posts but really I'm trying to find out how safe my money is I'm only looking to put up to 5000 euros in it so it can be used on my trips abroad that way I'm not exchanging money from euros to sterling and back again.

As it is regulated in Southern Ireland Im not sure if I am covered like I would be with a UK bank account Thanks again i look forward to replies

eDicky

Fire is not a bank, so it's not really somewhere to keep your money, not having FSCS protection or its Irish equivalent. It's a prepaid card account that has some extra facilities for sending and receiving payments to/from third parties, in both GBP and EUR.

So it would be possible to receive your EUR income to a Fire account, but it would be best to then move it on to a real bank account. You can have an Irish bank account as a UK resident, with KBC Ireland, BoI, etc, who also provide you with a EUR debit card. So, as I was trying to say, when you have such a bank account you might as well receive your EUR income there directly and not bother with Fire.