Euro direct debit from the UK

leakie001

I have a life policy in Southern Ireland that I would like to continue paying for even though I have relocated back to the Uk.  .  I would like to set up a euro account here in the Uk so that payment for the policy can be paid out each month.  The amount is only €25 per month.  The provider of the policy cannot take payment from my Uk GBP account but said they can take it from a euro account.  Can anyone recommend one please and what are the charges?

jonesMUFCforever

Why can they not continue to take it from your Irish account?

First time post.

leakie001

They can but I would prefer to close that account as the bank have introduced new charges.

colsten

Starling Bank is your friend.

greyteam1959

Or Transferwise euro account.

colsten

Usual caveat about Transferwise: they got no FSCS protection. Though this might not matter if the OP only ever puts 25 Euros a month through the account.

[Deleted User]

Revolut (No FSCS), HSBC UK and Barclays UK definitely offer Euro accounts with SEPA Direct Debits.

Some UK banks e.g. RBS/ NatWest will also allow Euro SEPA Direct Debits on GBP accounts - obviously not at massively completive rates but for €25 it probably won't make a material difference.

colsten

With the exception of Starling, and also Monzo (using Transferwise), all banks have  totally uncompetitive exchange rates/fees.

wmb194

Fineco also offers Sepa direct debits.

jonesMUFCforever

colsten said:

With the exception of Starling, and also Monzo (using Transferwise), all banks have  totally uncompetitive exchange rates/fees.

Be fair that's hardly a priority here - its only £20 a month.

colsten

jonesMUFCforever said:

colsten said:

With the exception of Starling, and also Monzo (using Transferwise), all banks have  totally uncompetitive exchange rates/fees.

Be fair that's hardly a priority here - its only £20 a month.

As an MSE, I object to abysmal exchange rates & high fees (hidden or not) for any sum of money.