Studying in France for 1 year

Hi,
My daughter is hoping to study in France for the next year. if successful she will be paid her Erasmus grant in euro's. Is it better to open a local account or use something like a starling account which offers free cashpoint withdrawals? (thinking will lose twice on exchange from euros to pounds and then pounds to euros. ARe there any banks which operate in both countries and can guve a euro account and sterling account seperately?

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  • 2childmum2
    2childmum2 Posts: 177
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    Hi - my son is studying/working in Germany and his funding is also paid in euros.  I've just asked him and he would recommend Wise (used to be called Transferwise).  This holds pounds and euros separately in one account and gives you an international bank account numbers which you can pay euros into.  However, the place he is at doesn't recognise it for paying his funding into (he thinks they don't understand it!), so he uses Tomorrow, which is an ethical bank account, but he doesn't know if it operates in France.  You have a single account and it keeps the pounds and euros separately. You can transfer money between them.  There are small fees for this, but DS says it is very transparent and the exchange rates are very good.  He was going to look into a German bank account when he arrived but he has been there since September (apart from the two months when he came home for Christmas and Germany wouldn't let anyone back in from the UK!!) and he has stuck with Tomorrow, so I assume he decided this was a better option

    Hopefully that will give you a couple of things to look into - DS is good at researching this sort of thing, but neither of us are financial experts!
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