Best way to receive euros

Band7

Frequentlyhere said:

A vote for Revolut here, totally free to receive euros and convert up to £1k/month totally fee-free also. Very easy to use, just don't keep funds there long term as no FSCS.

Honestly. The "totally free" is just a Marketing ploy. The only thing that counts is how many GBP you get for your Euros. How a given provider works out how much they give you is not really of interest.

Chomeur

wmb194 said:

Chomeur said:

wmb194 said:

Chomeur said:

Band7 said:

Chomeur said:

Fineco doesn't work on my phone either. Same problem with it saying it's sending a code to my "mobile phone devices" and the code never arrives.

How strange. I trust you are using the UK Fineco app.

Have you registered your phone number with the country code? Mine is in the format 0044xxxxyyyyyy. Never once had a problem with the app, or with the approval of online transactions via the app.

OK, actually what it says is that it's sending an "alert". So I don't think it's sending a text. It says "Make sure you have enabled alerts on your linked devices and try again. " There's no box to enter any details, so I think it's looking to receive it itself. No idea.

Have you changed devices? I had this once and it was trying to send the alert* to the old device. It can be reset via the Fineco online banking website.

*Yes, not a text message, it's an alert pushed to the app.

Yes, I have a new phone. So, I removed the old one on the website:

"

xxxxxxxxx successfully removed.

Please note that in order to access your account information or arrange payments, you must always have a device linked to Mobile Code.

Now open the Fineco app and link a new device to Mobile Code.
Click "Confirm" when you have finished linking your new device to Mobile Code."

So I go to the app on my new phone and follow the instructions to register it. Then I get:

"Important. An error occurred sending the alert."

Try deleting and reinstalling the app.

Thanks, seems to have fixed it.

nichocouk

Hello, I read this thread with interest and was wondering if Chomeur was happy with fineco? Are they competitive for what you were aiming to do?
Sorry if this is such a basic question but I'm trying to find the best way to transfer money from a eurozone account to a uk account. Are the following steps the right ones?
a) open uk-based fineco banking account [I'm a UK resident but not UK citizen]
b) bank transfer from euro account to fineco account
That's it? 
Thanks!

Band7

that's it, yes. After step b), there is step c), which is to exchange the Euros in your Fineco account to GBP in your Fineco account.

After step c), you can then make GBP online or debit card payments from Fineco, and/or send your GBP from Fineco to another UK account.

nichocouk

Wonderful stuff :-) And thanks for clarifying step c). 

Frequentlyhere

Band7 said:

Frequentlyhere said:

A vote for Revolut here, totally free to receive euros and convert up to £1k/month totally fee-free also. Very easy to use, just don't keep funds there long term as no FSCS.

Honestly. The "totally free" is just a Marketing ploy. The only thing that counts is how many GBP you get for your Euros. How a given provider works out how much they give you is not really of interest.

Seen this late, but no it is not a marketing ploy.

Revolut gives the mid-market rate and totally fee free. It typically beats the mastercard conversion rate (which itself is regarded as 'fee-free' day to day) and I should know because I travel a great deal and keep an eye on it.

Marchitiello

Frequentlyhere said:

Band7 said:

Frequentlyhere said:

A vote for Revolut here, totally free to receive euros and convert up to £1k/month totally fee-free also. Very easy to use, just don't keep funds there long term as no FSCS.

Honestly. The "totally free" is just a Marketing ploy. The only thing that counts is how many GBP you get for your Euros. How a given provider works out how much they give you is not really of interest.

…
Revolut gives the mid-market rate and totally fee free. …

As demonstrated in the HSBC Global Money thread, Revolut’s mid market rate May actually have some extra margin built into it as HSBC was beating it for Euro but not for USD.

in any case, the “Free” plan has also some limitations, like only £1000 per month can be exchanged for free and or £200 pm can be withdraw at ATM.