Opening a euro account outside uk

birdandfrog

I've just sold my house, and don't plan to buy another straight away, I want to protect my capital, so first step is ensuring no more than £85 in any one institution. But I also want to try to protect some against the Pound losing value. I was looking at the N26 account, in order to hold a balance in euros, but that has been closed in the UK following Brexit. Does anyone know of another alternative? (I'm UK national, and resident in UK). Thanks.

birdandfrog

Ha, obviously that's supposed to be £85k...can't find how to edit my post!!!

[Deleted User]

£ is already up 5% against the € since the beginning of the year.I don't see it going much the other way at the moment.
But most high street banks have euro accounts you can open up - I have one with Barclays and I have one with Starling too.
All managed online without the need to deal with FX department.

MDMD

Why do you need Euros? If you are buying another house in the UK £1 is still £1 and you are far more at risk from movements in the housing market.

colsten

You can have a Starling Euro account but be aware that they will charge negative interest on holdings above 50k Euros, and you will get zero interest on sums below that.

Unless you want to buy in the EU, there seems no point in exchanging your money into Euros.

Also, google “temporary high balance FSCS”

[Deleted User]

If you're insistent on holding cash abroad there's a huge number of European banks with a 100k deposit guarantee who'll take your money although interest rates are zero.
Check out www.raisin.com 
Although like others I think it's pointless holding a large deposit in Euros merely in the going of gaming the market.
I sold a property in the US and another in Europe late last year and it was pure luck Sterling was weaker when I transferred cash.
And it's all relative - in 3 months time who knows where we'll be at.
Leave FX speculation to the experts and even they're wrong more often than not.