Interest on deposits in Euros

crfarrelly

We live in the UK but have savings in a bank account in Ireland in Euros. Its almost impossible to get any rate of interest in Euros so we are looking into depositing the Euros in a UK bank but be covered by the bank guarantee scheme. Does anyone know of any reputable bank in the UK that can take Euro deposits?

wmb194

crfarrelly said:

We live in the UK but have savings in a bank account in Ireland in Euros. It’s almost impossible to get any rate of interest in Euros so we are looking into depositing the Euros in a UK bank but be covered by the bank guarantee scheme. Does anyone know of any reputable bank in the UK that can take Euro deposits?

HSBC, Barclays. Good luck earning any interest though. You could look to e.g., Lloyds International in the Channel Islands but IIRC the minimum deposit is £50k or its equivalent.

Another option is Trading212, a stockbroker covered by the FSCS for investments. At the moment it’s offering 4.2% on euro deposits and at the moment for mine it says they’re fully deposited in banks but they could also but placed in qualifying money market funds which would be low risk but not no risk.

 There’s also Wise’s euro account and this uses a Blackrock money market fund to earn interest.

friolento

Starling Bank has no minimum deposit limits, but no interest

If you can credibly claim you are a resident of Ireland or other EU country, you should have access to Raisin’s portfolio of European savings accounts 

Ayr_Rage

You could have a look at WISE, but make sure you understand the protection you are getting.

They pay 3.44% on Euro deposits.

https://wise.com/gb/interest/

flaneurs_lobster

Is there a particular need to hold EUR? One obvious solution is to convert to GBP.

crfarrelly

Thanks to everyone for the ideas and suggestions.