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Euro to sterling Bank accounts with low fees and great exchange rate :-)
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Kellyleigh86
Forumite 1 posts
I need help! My husband will be getting paid in euros, and we obvs use sterling. Can anyone recommend a bank for this please? Low fees and best exchange rate? Please, we're stuck and in a stump. We opened a starling account, but I'm just clueless about this all.
When he gets paid in euros, we will be hoping to transfer it into our joint santander, unless anyone knows a better way for this. Thanks everyone
When he gets paid in euros, we will be hoping to transfer it into our joint santander, unless anyone knows a better way for this. Thanks everyone
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Replies
How exactly is your husband being paid in Euros? Is he working outside the UK or … ?
How is the Euro payment of his earnings being made? Does he have a (foreign) Euro bank account into which he will be paid or what? You mention transferring it to your joint Santander account, but transferring it from where?.
Whats wrong with using Starling ?
Money gets paid in and you transfer it to another account of your choice, you will need to look if there is a conversion fee. Monzo might be an option, dont know if theres a conversion fee.
Transferwise would be an option.
Barclays have a euro account.
I feel that if the OP is as clueless as they claim, it's odd that they would have just gone and opened this account for no apparent reason.
Call their CS and ask them to walk you through if you don't know what to do.
Starling have a Euro account, so they can make a SEPA transfer into it.
The UK is currently in the SEPA zone, so payments into a Euro account are free of charge for the payer. There's no reason why this should not continue after Brexit (except if some idiot decides we should leave that, too).
SEPA transfers are for cross-border Euro transfers only. So the Northern Irish Resident could have a Starling Euro account in the UK, with an IBAN starting with GB. The employer would pay the salary to that IBAN. All Irish employees of that employer would also be paid into an IBAN, but theirs would probably start with IE. It could, however, start with just about any EEA country code. It doesn't matter. It's just a sequence of letters and numbers, an account number. It costs the employer 100% the same whether they pay into an Irish, a British, a Dutch, a Greek, a Latvian etc etc etc Euro account. It also costs the employees the same to receive their salary into their Euro accounts (i.e. nothing). What may not cost the employees the same is the operation of their Euro account, just as it doesn't cost us the same to operate GBP accounts, but that's an entirely different issue.
There is no bother involved. The employer merely instructs their bank to pay to an IBAN, and the bank handles the transfers. Employers who pay in Euros expect to be given an IBAN by their employees.
If you mean employers wouldn't want to be bothered to exchange the Euros that they pay into GBP, I would agree. But that's no what is being suggested.
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Well until the OP comes back and answers the questions. Everyone is flying in the dark.