Euros - where to save them

mousa

Hello. I visit Europe every so often, and usually have a few Euros kicking around. I am also occasionally given a few Euros. Now what I'd really like to do, is open up an account in Euros, and just stick them in there until I go abroad next. That saves losing out by keep exchanging them into pounds, plus the hassle of having to do that.

However, this doesn't appear to be possible! Either accounts have to have a minimum of £1000-worth of Euros, or you have to set up a 'regular saver' account paying in eg £100 a month.

Well, the maximum I would have would be a couple of hundred pounds - you'd have thought that *surely* it would be possible to open a building-society type of account which pays a tiny bit of interest? Maybe I just haven't been looking in the right places - if anyone knows of such an account, please let me know!!

nrsql

Calculate how much interest you think you would get then decide whether you think the effort wold be worth it.

mousa

It may not be a lot of money, but I'm prepared to make the effort.

The alternative is to open an account next time I am in Italy, but from experience I know that it would be a bureaucratic nightmare. So anything that I could do in the UK would be so much easier.

shown73

I believe that Nationwide allow cash withdrawals abroad without charge. This would obviously be in Euros. I know it's not exactly what you are after, I have the same thing, as I'm sure many people do, but it may be one way around it without incurring charges. Just an idea...

furndire

Don't a lot of the banks charge you for having a bank account? I know they do in France, so unless the amount is large, and you go very regularly, it won't be worth it.
My son often complains about the amount of bank charges, so still keeps an account over here, and pays Euros in every now and again.

mousa

I think most banks let you withdraw cash from ATMs abroad, but the problem is what to do with all these paper Euro notes, without having to convert them into Sterling. I have a small pile of them here!

However, I have found out that Citibank do a Euro account and you only need 1 Euro to open it! Hurrah! And they have 5 branches in London, so I'll give them a try.

Mikeyorks

You can pay (HMRC) your tax in Euro notes! If that helps?:rolleyes:

http://www.hmrc.gov.uk/euro/faqs_taxnic.htm

Biggles

mousa wrote: »

I think most banks let you withdraw cash from ATMs abroad, but the problem is what to do with all these paper Euro notes, without having to convert them into Sterling. I have a small pile of them here!

The key words (in post #4) were 'without charge', which most other banks don't let you do.

And by using ATMs and only drawing as much as I need, I find I end up with only a few Euro left over, usually just enough for taxis and other immediate expenses next time I go into the Zone.