Euro Acct. being closed - temp. destination?

SK55607

My Euro account is being closed, does anyone know where I can safely and quickly park my money for a month or so while I choose and then open a new euro account ? Somewhere or something I can transfer the money into from a Euro account ?

Thanks

eDicky

Fineco Bank UK is an actual bank account, otherwise Revolut or TransferWise 'Borderless Account' could be used to receive and hold funds in euros.

SK55607

Thanks eDicky, I'll look into these 3. Do Revolut and TransferWise have similar protections to a bank account ?

SK55607

Looking into them I'm concerned they may be a risk for +/-100,000 Euro. I'm also in contact with HSBC who do a Euro account if you open a current account. Does anyone recommend/have any experience with KBC ? Is there any other stable vehicle where I can leave my euros for 1-month while I find the best account for me ?

eDicky

KBC Ireland is fine and can be opened easily with a UK address, if that's what you have.

Obviously a real bank account would be much better to keep that amount - so a bank account to hold it until you find a bank account... Its hard to advise without knowing your specific requirements.

Lith

Try KBC

it's a bank in Ireland but easy to open via online.

http://kbc.ie

eDicky wrote: »

KBC Ireland is fine and can be opened easily with a UK address, if that's what you have.

Obviously a real bank account would be much better to keep that amount - so a bank account to hold it until you find a bank account... Its hard to advise without knowing your specific requirements.

So KBC isn't a real (BANK) in your eyes? or am i missing something here lol?

Anthorn

SK55607 wrote: »

My Euro account is being closed, does anyone know where I can safely and quickly park my money for a month or so while I choose and then open a new euro account ? Somewhere or something I can transfer the money into from a Euro account ?

Thanks

The first solution which comes to mind is your own U.K. bank account. But be prepared for fees when the Euros are converted to GBP. You should have at least two options for the exchange rate, either the transmitting bank will convert to GBP or they will transmit Euros and leave it to the receiving bank to convert to GBP. Personally when I transfer from my French account to my U.K. account I don't get told about those options. I have to ask or otherwise the transmitting bank will just send euros.

I'm not much of a fan of Revolut but I would recommend it in this case provided the money is held by Revolut for a short time as you say.

eDicky

Lith wrote: »

So KBC isn't a real (BANK) in your eyes? or am i missing something here lol?

I was trying to say that a real bank such as KBC or Fineco would be better for lodging a large sum than my other suggestions of Revolut or TransferWise.