What to do with euros - cash?

Thrugelmir

eDicky said:

dahj said:

eDicky said:

evanescent said:

Barclays offers a Euro account to their customers, so you will need to open first a regular current account (£) with them, then the Euro account. 

barclays.co.uk/current-accounts/euro-account/

Do Barclays accept euro cash deposits to that account..? I vaguely recollect previous mention of a high street bank that does so. Even so, I would never use such an account, it would certainly involve fees and adverse exchange rates to access any funds deposited.

OP, it sounds likely that your euros will be useful to you in future. Any value lost due to exchange rate fluctuation over time will also apply to bank deposits. I've usually found that a safe method of keeping a bit of cash can be devised, but by all means open a Latvian bank account when you have the opportunity.

Are you just guessing?  Why would a Euro account have exchange fluctuations? 

Why would euros in a bank account be immune to exchange rate fluctuation..?

Euros remain Euros. 

phillw

Thrugelmir said:
Euros remain Euros. 

For someone who lives in the uk and spends all their money in sterling, then leaving a large chunk of cash as euros means you are affected by exchange rates. Unless they are going to leave the uk and start spending euros or leave the money in the bank until they die and never spend it.

They may be looking to take advantage of exchange rate changes, if they are waiting for sterling to tank further compared to the euro. But even so they are still affected by exchange rate changes.

What the money is for is important in making a decision of where to put it.

kleshnia

phillw said:

dahj said:
Why would a Euro account have exchange fluctuations? 

 

I think he means that for keeping a large amount of Euros as either cash or in a bank account puts you at risk of exchange rate changes, because if you live in the UK then it's most likely you'll want to spend the money in the UK. Ideally you would convert your euros when sterling is at it's weakest, which is probably around now.

If they aren't going to spend it, then I would wonder why they've been sent it.

i'd like to keep it in euros instead of converting to the GBP

kleshnia

Edi81 said:

I always keep a couple
of hundred euros and USD in the house. 

How much are we talking about? Sounds as though it’s a lot. Do you expect to need GBP or  EUR in the near future. 

I have a few 1000s..under 10,000 though
I would just like to keep it somewhere safer than my house in euros for a rainy day..
ideally investing it in something instead of it laying doing nothing

kleshnia

phillw said:

Thrugelmir said:
Euros remain Euros. 

For someone who lives in the uk and spends all their money in sterling, then leaving a large chunk of cash as euros means you are affected by exchange rates. Unless they are going to leave the uk and start spending euros or leave the money in the bank until they die and never spend it.

They may be looking to take advantage of exchange rate changes, if they are waiting for sterling to tank further compared to the euro. But even so they are still affected by exchange rate changes.

What the money is for is important in making a decision of where to put it.

at the moment, it is to put euros somewhere safe over than my house for a rainy day or to spend when I go traveling to europe

Dr_Crypto

Just get a home safe and keep them in there especially if you’re likely to use them when going travelling in the Eurozone.