How to put euro notes to bank account.

TheOnlyOne
TheOnlyOne Posts: 1 Newbie
in Budgeting & bank accounts
Hi there :) I have some savings in euro notes that I have been collecting through years and I would like to put them on my currency account in HSBC to not worry about them being left in home. I created a currency account online then went to branch to put that cash into that account but they don't allow that :eek: Is there any other option to put my savings into account or should I just convert it?

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  • pochisoldi
    pochisoldi Posts: 261 Forumite
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    TheOnlyOne wrote: »
    Hi there :) I have some savings in euro notes that I have been collecting through years and I would like to put them on my currency account in HSBC to not worry about them being left in home. I created a currency account online then went to branch to put that cash into that account but they don't allow that :eek: Is there any other option to put my savings into account or should I just convert it?

    The only time a UK bank deals with foreign notes is when they buy or sell them as part of a forex transaction so they can make money on the exchange rate. A currency account is only useful to receive and send electronic payments in that currency without having to change to/from sterling.

    Find someone who is going to the eurozone and sell them directly, using a rate between the buy and sell rates quoted by a bureau de change.
    That way you get more £ for your € and they get more € for their £.

    Personally, for USD, and Euro, I just manage how much cash I have when I come back, and keep the balance in a cashbox at home ready for the next trip.

    PochiSoldi
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    TheOnlyOne wrote: »
    Hi there :) I have some savings in euro notes that I have been collecting through years and I would like to put them on my currency account in HSBC to not worry about them being left in home. I created a currency account online then went to branch to put that cash into that account but they don't allow that :eek: Is there any other option to put my savings into account or should I just convert it?


    Are you due to go back again ?
    If you are then keep them somewhere safe.
  • venomx
    venomx Posts: 1,118 Forumite
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    Asda near me guarantee to have the best exchange rates for money
  • pochisoldi
    pochisoldi Posts: 261 Forumite
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    venomx wrote: »
    Asda near me guarantee to have the best exchange rates for money

    For the best deal, order online via Topcashback and collect in store.

    I bought USD from Asda before a recent holiday, and due to the relative volatility of the pound vs dollar, I ended up getting a better rate on cash a week before I left than I got on most card spending a week later...

    The one time I deviated from my normal pattern, I dropped lucky. Usually I take whatever I had from last time and find a cash machine at a bank when I get to where I'm going.

    PochiSoldi
  • benjus
    benjus Posts: 5,433 Forumite
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    pochisoldi wrote: »
    The only time a UK bank deals with foreign notes is when they buy or sell them as part of a forex transaction so they can make money on the exchange rate. A currency account is only useful to receive and send electronic payments in that currency without having to change to/from sterling.

    I don't have first-hand experience of it, but the Barclays Euro account appears to be an exception to this:

    https://www.barclays.co.uk/content/dam/documents/personal/savings/euro-savings-account-and-currency-deposit-account.pdf
    Euro notes paid into a euro account - Free
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