Fineco Bank multicurrencies account

Marchitiello

Marco_Miiyomo wrote: »

Hi Marchitiello....Marco here

I live in London and I'm opening a Fineco multicurrency account in these days. I have a question which I hope you can answer

Say that:
1.
I make a payment from my Barclays account into the Fineco multicurrency account of 100GBP
As stated here UK bank transfers are FREE (£ 0,00):
htt ps: //finecobank .co.uk/uk/joinus/foglio-informativo.html[can't add link as new user had to put a spaces]

So I should receive 100GBP in full.
2. Now I have 100GBP into the Fineco Multicurrency account
3. I want to transfer these 100GBP internally to the sub.account in EUR. I should receive 100 x Conversion Rate ( at the moment of the transfer ).

QUESTION: Will I get charged a FEE? Have you tried?
As stated here:
htt ps: //finecobank .co.uk/uk/joinus/foglio-informativo.html[can't add link as new user had to put a spaces]
Currency conversion fee (for payments in a currency other than that of the Debit Card) are 1 %

Hi Marco,

Yes, 100% of the gbp payment made to the uk sort code/account number will be credited.

With regards to the conversion fees, I was not aware of that statement (edit: I have read the statement from the Fineco site and it refer to paying in a currency other then the one of the debit card, so for example paying with the Euro card here in UK or with the GBP card in a Euro country..) but I have both the GBP and EUR debit card, so I have never paid a fee (done numerous conversions over the last few months).

Marco_Miiyomo

Marchitiello wrote: »

Hi Marco,

Yes, 100% of the gbp payment made to the uk sort code/account number will be credited.

With regards to the conversion fees, I was not aware of that statement (edit: I have read the statement from the Fineco site and it refer to paying in a currency other then the one of the debit card, so for example paying with the Euro card here in UK or with the GBP card in a Euro country..) but I have both the GBP and EUR debit card, so I have never paid a fee (done numerous conversions over the last few months).

Hi,

I'm not referring to card payment, those I'm not interested about.

What I'm looking for is to transfer £10000+ from the GBP account to the EURO sub-account and I was wondering if I will be charged this 1% or not

evangelos

Hmmm, it seems my previous answer did not get through, so let me rephrase it.

When you do currency exchange in fineco it displays on your browser what is the conversion rate and how much you will receive.

You will receive exactly that much, there are no hidden charges.

The conversion rate displayed has a 0.15~0.20% deviation from the inter-bank exchange rate (as displayed by XE/google etc).

That 0.15%-0.20% is fineco banks profit (call it what you want: commission/fee)

Hope everything is clear now.

JGUK

Can you change the PINs on the debit cards ?

Marchitiello

Marco_Miiyomo wrote: »

Hi,

I'm not referring to card payment, those I'm not interested about.

What I'm looking for is to transfer £10000+ from the GBP account to the EURO sub-account and I was wondering if I will be charged this 1% or not

And as per my message as well as the ones from evangelos, there is no fee and the part you have quoted refer to debit card spend

Marchitiello

JGUK wrote: »

Can you change the PINs on the debit cards ?

No, I think it was covered earlier in the thread

ashlward

So I just found out you cannot deposit money into your Fineco account, UNLESS you have an Italian Fineco account (be an Italian resident), and therefore be able to deposit money via a cheque or using a Unicredit "advanced" ATM. I am emailing them at the moment to see if they can switch my English Fineco account to an Italian one. I will let you know how it goes!

Weirdly I found this page showing more features for Italians, but it's in English... Perhaps for expats living in Italy? I can't post the link because I am a new user, and I don't want to spam, so I will write in plainly because it's actually useful.

Finecobank..../en/public/conto-e-carte

Marchitiello

It was covered earlier in this thread. No cash deposit are allowed. This multi currency account is designed for U.K. Resident and not available as part of their offering in Italy .

SouthLondonUser

UK account holders cannot make cash deposits.
However, multicurrency has been available to their Italian clients for ages.

heathrow

Anyone know what the charges are for conversions from USD to EUR?