Euro account in UK

Mary10987

Colsten, yes I know about Starling, initially this was my first option but then when I took in consideration the amount of money that are going in/out of the account, I preferred a bank with a branch where I can speak with a human being. Regarding overhearing other discussions, to be honest I could overhear discussions on another banks branches a few years ago when I was looking to open my first sterling account. If the customers are waiting in a queue approx 2 m (Covid regulations) involuntary still you can hear the discussions that are going on. Enter any bank branch and wait a few minutes, and involuntary you will hear the discussions that are going around. I don’t think is any breach of confidentiality as I don’t know the name or who is the  gentleman that had the issues.( I am not interested who is the gentleman, I didn’t even seen his face ). Usually, myself when I have something more confidential to discuss, I always ask for a more quiet place, I let them know that I want to discuss something more confidential and I don’t want to have any people around. Every bank in UK has closed space offices where a customer can have a more confidential conversation. 

Myself, I am happy that actually I could see how they handle this things with blocked/closed accounts. I consider that they asked reasonable questions and take actions when something doesn’t looks right. Also, as in my case if I will have any problems, now I know that I can go into the branch, asking for a more quiet place and to speak with a human being face to face and not waiting on the phone for hours and hours, press 1, 3, 5 and so on. 

Because it took 3 days for the account to be available, that is not a problem for me. Obviously, they had to do their checks, I don’t have any problem with that. I know that it won’t take weeks and months to get hold of a human being to speak with, if any issues. 

I am not sure if all the horrible stories on TrustPilot about the e-money apps are true, but I am not willing to take any risk and this is the reason why I chose a bank with a branch. 

My own opinion about Starling is that it might be a good bank as is also regulated by FSCS, I don’t have any experience with this bank. Possible, I am going to use this bank in the future for small amount transactions less than 1000 euro. But, when is about high amount transactions above € 50,000, I will always prefer a bank (regulated FCA, FSCS) with a branch where I can speak with a human being. 

colsten

Mary10987 said:

My own opinion about Starling is that it might be a good bank as is also regulated by FSCS, I don’t have any experience with this bank. Possible, I am going to use this bank in the future for small amount transactions less than 1000 euro. But, when is about high amount transactions above € 50,000, I will always prefer a bank (regulated FCA, FSCS) with a branch where I can speak with a human being. 

It is obviously your choice if you prefer having Branch access but be under no illusion that the human beings in any Branch have any more powers than a human being at the end of a phone or chat line in a bank which has no branches. In fact, we have seen the branchless First Direct topping various Customer Service survey for years. Those human beings are all subject to rules and controls specified by Head Office functions, often to ensure compliance with various laws, and often enforced by their IT systems. For example, if your account gets blocked because the bank's fraud systems determined that your account, or certain transactions, must be reviewed, nobody in any Branch can lift the block on your account. Neither can a first-line CS person on a telephone or chat line. It will always be the fraud department, to which you have limited, or more likely no, access. I appreciate however that it makes you feel better if you can go into a Branch, even if those Branches are increasingly automated.

GeordieGeorge

Mary10987 said:

I am looking to open a personal bank account in Euro, in UK. I am going to us this account for high amount transactions. I am about to sell some of my assets in Europe, this is the reason why I need a bank account in Euro. I was looking at Transfer Wise, Revolut, Starling Bank, but I heard a few horror stories as they can block the account if they see high amount transactions. To be honest, I don't have any time to waste with phone calls and emails, so I am looking for a reliable bank that I can trust. 
Any recommendations, experience regarding Euro bank account in UK ? 

Thank you, 
Mary 

If you’re talking about many hundreds of thousands per month then a personal account may be flagged, but it does depend what you mean by large.

I transfer €30,000 per month via Revolut and it’s never been queried.

If you literally don’t have time to make calls then can you not use a business account and have one of your staff authorized to act on it?

eskbanker

Mary10987 said:

I live less than 15 minutes drive from the branch, I am not deluded to wait over 30 minutes on the phone to speak with a human being).

Not sure I'm following the logic that driving nearly 30 minutes (there and back) to join the back of a queue in a branch is feasible when a 30 minute queue on the phone isn't, but whatever works for you - however, in the context of ongoing programmes of branch closures by all the main players, have you established where the next nearest one is, in case it came to that?