Euro account in the UK

Another_Saver

If you want to invest, in euros, and it's definitely an investment you want, and you would like a decent chance of seeing a positive return, measured and denominated in euros, and maybe a little income, in euros... Why not a European equity index fund like VERX?
Nb the dividend you receive into whatever account you buy this via will be in £.

Diversifying cash isn't really a thing unless you intend to spend a lot of money in Europe in future, maybe to live there or maybe you're buying a holiday home? Then holding some euro cash makes sense but otherwise I'm not clear what the purpose of it would be other than currency speculation.

london.cidade

colsten said:

london.cidade said:

https://moneyfacts.co.uk/banking/offshore-bank-accounts/euro-bank-accounts/

Looking at the list above seems that few banks offer a Euro account. I would like to diversify my cash, that`s why willing to have a Euro account.

any advice/experience with the banks here in the UK, seems that no interest paid at all. or do I have any other safe options to hold some money on Euro account offshore? thank you

Why would you want to hold cash in a foreign currency for investment purposes?

I would like to diversify my cash.  a frequent business traveller to Europe as well.

london.cidade

Another_Saver said:

If you want to invest, in euros, and it's definitely an investment you want, and you would like a decent chance of seeing a positive return, measured and denominated in euros, and maybe a little income, in euros... Why not a European equity index fund like VERX?
Nb the dividend you receive into whatever account you buy this via will be in £.

Diversifying cash isn't really a thing unless you intend to spend a lot of money in Europe in future, maybe to live there or maybe you're buying a holiday home? Then holding some euro cash makes sense but otherwise I'm not clear what the purpose of it would be other than currency speculation.

yes, there is a good possibility that we will move to Europe when we retire, and thanks for Vanguard options!

colsten

london.cidade said:

colsten said:

london.cidade said:

https://moneyfacts.co.uk/banking/offshore-bank-accounts/euro-bank-accounts/

Looking at the list above seems that few banks offer a Euro account. I would like to diversify my cash, that`s why willing to have a Euro account.

any advice/experience with the banks here in the UK, seems that no interest paid at all. or do I have any other safe options to hold some money on Euro account offshore? thank you

Why would you want to hold cash in a foreign currency for investment purposes?

I would like to diversify my cash.  a frequent business traveller to Europe as well.

I don't know what you mean by 'diversify my cash' but 'frequent business traveller to Europe' implies you would like to have access to spending money when travelling. In this case, you might find accounts with Starling Bank might fit your bill.

Ted_Bloke

HSBC for example has a 'Currency Account' which can be in € or 16 other currencies. You have to also hold what they call 'an active HSBC current account' but you could hold a minimal amount in it, you could even from that open a Regular Saver for as little as you like or as much monthly up to £3K/yr which earns a dizzying 1%pa, there are lots around that pay less.

NottinghamKnight

Ted_Bloke said:

HSBC for example has a 'Currency Account' which can be in € or 16 other currencies. You have to also hold what they call 'an active HSBC current account' but you could hold a minimal amount in it, you could even from that open a Regular Saver for as little as you like or as much monthly up to £3K/yr which earns a dizzying 1%pa, there are lots around that pay less.

...but a little over a month ago the regular saver was paying 2.75%, happy times.

KathysBoy

I have a Euro account with Barclays (UK not International).  I don’t pay any charges or receive interest, but I don’t have a chequebook (but you can request one) or debit card. I use SEPA transfers to send payments, and usually fund it via CurrencyFair.
You can pay in and withdraw Euro notes at any Barclays branch with a foreign till. However, you have to have a current account to open it.

https://www.barclays.co.uk/current-accounts/euro-account/