Need Advise-Looking for Bank Best Rates For Receiving Funds in €

brianposter

It has been suggested that if someone does not like the nationality of your phone you should simply remove the SIM card and use an internet connection.

Gypsy_Tart

brianposter said:

It has been suggested that if someone does not like the nationality of your phone you should simply remove the SIM card and use an internet connection.

I wouldn't know how to do that. I only use a computer and don't have hardly any data on my mobile.

HeparGirl24

 "hurried to check my Bourso statements after reading this and can confirm that I have not been charged anything despite not having used my (Visa Premier) card for a couple of months"

Perhaps it depends on the card. Bourso definitely charge for not using the Welcome (basic) Visa Card 

(1) Fourniture d'une carte de débit (carte de paiement internationale à autorisation systématique) Visa Classic Welcome ; Carte physique gratuite sous condition d'utilisation sinon 5 €/mois en l'absence d'au moins une opération de paiement constatée par mois ; Carte dématérialisée gratuite sans condition d'utilisation. Tarifs sous réserve de changement de politique tarifaire effectué conformément aux Conditions Générales BoursoBank. Délivrance sous réserve d'acceptation par BoursoBank.

On the plus side they send you a warning sms if you haven't used it within the last month.

Gypsy_Tart

HeparGirl24 said:

 "hurried to check my Bourso statements after reading this and can confirm that I have not been charged anything despite not having used my (Visa Premier) card for a couple of months"

Perhaps it depends on the card. Bourso definitely charge for not using the Welcome (basic) Visa Card 

(1) Fourniture d'une carte de débit (carte de paiement internationale à autorisation systématique) Visa Classic Welcome ; Carte physique gratuite sous condition d'utilisation sinon 5 €/mois en l'absence d'au moins une opération de paiement constatée par mois ; Carte dématérialisée gratuite sans condition d'utilisation. Tarifs sous réserve de changement de politique tarifaire effectué conformément aux Conditions Générales BoursoBank. Délivrance sous réserve d'acceptation par BoursoBank.

On the plus side they send you a warning sms if you haven't used it within the last month.

Thank you for the tip. I will look into it as I'm looking for a bank that doesn't charge monthly fees.

Gypsy_Tart

lon_don said:

Gypsy_Tart said:

lon_don said:

Gypsy_Tart said:

lon_don said:

Gypsy_Tart said:

lon_don said:

Why don't you keep a french bank account open (the big traditional french banks like Socgen, BNP, CA, LBP, etc.. don't seem to be bothered by having non EU resident clients) ? The basic accounts might not be totally free, but the monthly fee should be modest (€2 to €2.5 per month for Socgen and BNP; I think Boursorama Banque is free), but I assume you already know all this.
Then have your pension paid in € into this € account (protected by the french FSCS). Then transfer € as needed to Revolut or Wise, and convert € to £ at minimal cost (but I suppose if the amount is large both Revolut and Wise might charge you a bit more).

I did think of this option as I use an online bank. However, there fees for foreign currency are horrendous. Moreover, I would not be able to transfer € via Wise as you need a French mobile to do so. As I have a very small pension  that will be also have extra deductions because I'm leaving the country and now the transfer fees, it's all very stressful.

I am able to transfer € from Socgen & BNP to UK Revolut (IBAN starting with GB) for free for small size (the € obviously arrives in my Revolut € account, ie not automatically exchanged into £ by Revolut, provided an € account has been created within Revolut). Both Socgen and BNP accounts can be operated via web browser or app on a UK mobile (they also have no problem sending OTP passcode to UK mobile number). 

Then, within Revolut, exchange € to £ at no cost (again for small size) at the moment of your choosing if you want to time the fx market. I have not tried with Wise.

As I already have an online bank, it would be better to check the info that was given to me yesterday. Sadly, every time you call CS, you get a different answer. BNP and SG are very expensive banks that I would certainly not want  to use. I changed from SG to Fortuneo banque due to problems that I had encountered with the former. I also don't want to use an app only internet on a computer once I'm back for good in the UK. I certainly will look into UK Revolut. Thank you for your help.

Just out of curiosity, how much would you get charged for a SG or BNP account ? I believe (need to recheck) I pay €2.5/mth ie €30/yr which is not free but not outrageous, for a bog standard non résident account (no debit card). 

You could also maybe check out Boursorama Banque. It's a free online bank account (with a free debit card), it can be operated via web (it does have an app but I don't use it), I opened it post brexit from UK with my UK address. I have not transferred € from Boursorama to UK Revolut in €, but there is no reason this shouldn't work for free like it does with Socgen (who runs Boursorama).

I would like to limit the fees as my pension will be far less in £. Even though  3€ may sound like very little, it all adds up. I do online banking with Fortuneo but if I were to live in the UK, I wouldn't be able to receive the code on my mobile to do a transfer with Wise. Moreover they charge  + 30 € to do an Int transfer.

I've just tested = transferred a few € from Boursorama Banque (now apparently rebaptized as BoursoBank) to my UK Revolut (GB IBAN). Transfer was free (despite sending from a FR IBAN to a GB IBAN) and immediate, same € amount received instantly in my Revolut € account, no transfer fee charged, no currency conversion.
As noted, BoursoBank account is free, and can be operated solely via their website (does not require app), and they send OTP passcodes to my [UK] mobile number and my registered email to validate operations.
UK Revolut is on free Standard plan, with fee-free fx conversion (presumably from € to £) on weekdays within the limit of £1000 per month. Anecdotal posts on MSE and HfP have suggested that Revolut [weekday] exchange rate might be slightly better than HSBC GMA rate.
So if you transfer up to the equivalent of £1k (currently approx €1170) per month, you are unlikely to incur any fee.

I have just checked their website and you do need to reside and pay your taxes in France. This won't be my case as I won't be paying taxes in France.

brianposter

It was you that said you need a french mobile to use Wise. I use Wise from a computer and, as far as I can tell they suit you admirably.