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  • FIRST POST
    PaulS43
    How do I get a Euro bank account?
    • #1
    • 19th Jan 12, 9:13 AM
    How do I get a Euro bank account? 19th Jan 12 at 9:13 AM
    Apologies if this isn't in the right place to the mods - I couldn't find an obvious natural home for it).

    Right I am self employed. I get paid (currently) by 3 different British companies. All the money is in sterling. It comes into my UK HSBC account.

    I have been asked whether or not I want to work for a Dutch company. The thing is they will only pay in Euros. Invoicing their firm in Euros isn't a problem but how can I recive the money?

    HSBC haven't yet answered my email to ask them so can anyone else tell me where I can go to set up a Euro bank account and if I have a choice, where I will get the best deal in running it and withdrawing my money in sterling.

    The contract (if I take it) will pay exactly 150 a week.

    Any advice welcome
Page 2
    • missile
    • By missile 19th Feb 12, 4:54 AM
    • 10,224 Posts
    • 5,259 Thanks
    missile
    I get very good free banking from Barclays.es. You can open a euro account from the UK, see here > https://www.barclays.es/publico/contents/clientesInternacionales/cuentas_SolicitudesUk.jsp?lang=en_UK
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • Lith
    • By Lith 19th Feb 12, 7:38 AM
    • 881 Posts
    • 253 Thanks
    Lith
    Im also interested in a 'EU' account does HSBC offer one? for free to ?


    cant find it on the website.
    HSBC (Main A/C)
    Halifax Back up A/C
    Lloyds (Spending) A/C
    RBS Back up A/C
    Barclays Old A/C
    Nationwide Old A/C
    • NFH
    • By NFH 20th Feb 12, 5:15 PM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    Rather than opening a Euro bank account, which many account can charge you a monthly fee, you can look at currency brokers.
    Originally posted by ashleyingle
    If you read above, we're specifically discussing accounts that don't charge a monthly fee.

    by opening and maintaining an account with a currency broker (free) and using a broker that has client accounts in the EU also, will mean you (and dutch company) wouldnt get charged a transfer fee and superior rates EUR-GBP.
    Originally posted by ashleyingle
    Why would the Dutch company be charged a fee for sending a EUR transfer within the EEA? They would be charged the same as a domestic transfer within the Netherlands in accordance with Article 3(1) of Regulation (EC) No 924/2009 on cross-border payments in the Community.
    • calypso rhapsody
    • By calypso rhapsody 20th Feb 12, 6:13 PM
    • 555 Posts
    • 264 Thanks
    calypso rhapsody
    I am very pleased with my Citibank Euro account - free transfers to pay European suppliers.

    Just two minor irritants:

    * you can only change the card PIN in a Citibank machine - there aren't many of those!
    * if you don't use the account for 360 days they will deactivate the account - you need to phone to get it reactivated ....
    • NFH
    • By NFH 20th Feb 12, 8:30 PM
    • 4,329 Posts
    • 1,415 Thanks
    NFH
    * you can only change the card PIN in a Citibank machine - there aren't many of those!
    Originally posted by calypso rhapsody
    This is even worse with DKB; apparently you can't change the PIN at all. I think they only have one or two branches, in East German backwaters liike Schwerin.
    • DesG
    • By DesG 22nd Feb 12, 9:46 PM
    • 1,259 Posts
    • 452 Thanks
    DesG
    Anyone know if you can make SEPA payments using the online banking of DKB?

    Cheers, Des.
    • tiredofpoorservice
    • By tiredofpoorservice 8th May 13, 11:37 PM
    • 64 Posts
    • 5 Thanks
    tiredofpoorservice
    Open an account with DKB. They don't charge for anything (free cash withdrawals anywhere in the Eurozone) and they're fine with non-residents opening accounts. They also pay 2.05% interest. I'd avoid any euro account in the UK, which either lack basic banking facilities or charge hefty fees for transactions that are normally free of charge.
    Originally posted by NFH
    This sounds like exactly the kind of thing I am presently looking for. But how does a uniglot like myself get round the language barrier?!


    TOPS
  • DunPin
    This sounds like exactly the kind of thing I am presently looking for. But how does a uniglot like myself get round the language barrier?!

    TOPS
    Originally posted by tiredofpoorservice
    Translate with Google Translate? you will have a hard time phoning up and talking to them in English though, they apparently don't have English advisors on hand.
  • catokelly
    You could use an international money transfer specialist, most will hold a Client Euro account, therefore Euros can be transferred directly to their Euro account, they would convert the Euros into s for you at much better rates than all high street banks.

    If you manage to open a Euro account, most will charge a monthly fee and you will still have the problem of needing to convert the Euros to s at a decent rate.
  • anentropic
    2% ?
    DKB in Germany will gladly open an account for you... they require that your identity is verified however I am not sure how it is done without the embassy which refuses to do it now :S

    Otherwise 2.05% interest, free account maintenance plus other benefits... it is better than my HSBC account
    Originally posted by MaccyDs
    Shame the interest is lower now: 0.2%, or 1% on cash balance of the Visa card

    2% would have been really good!
    Last edited by anentropic; 13-05-2013 at 2:02 PM. Reason: Realised post was a year old!
  • anentropic
    Is there any way to deposit Euro bank notes into a DKB account from the UK? I guess not?
  • confused1
    Beware of Citibank. It will keep you as a customer as long as it can make a good profit out of you. I had both Euros and a/cs, but was asked to move them to elsewhere for 'business reasons'. Won't give me the reasons. As I did not owe it money, did not laundry money, did not embezzle the establishment, was not bankrupt, was not a criminal, the only reason that I could think of was that I had always kept my a/cs clean and straight in the 16 yrs with them. 5 months ago, I did finally find another source to change my Euros at much better rates. And this, Citibank wasn't happy with, even after having years of deplorable paltry exchange rates. Well, whilst Citibank is not a charity, it expects me to be one - to them. Up to today, it sure gives me great satisfaction to know that finally, I was costing the bank - for a change.
    • bigjl
    • By bigjl 13th Oct 13, 4:58 PM
    • 6,261 Posts
    • 2,655 Thanks
    bigjl
    You can get Euro and Dollar Cashplus pay as you go cards that can be set up in the UK.

    You can recieve monies including wages and pay direct debits and standing orders.

    The card itself has the account and sort code printed on it.
  • Dmitrii
    HSBC should be able (phone them, they are hopeless in answering emails, IMHO) to open an account for you in a Eurozone country they operate, e.g. in France. You'd be able to transfer money between your HSBC accounts online.
    • pinkcloud
    • By pinkcloud 28th Oct 13, 3:19 AM
    • 225 Posts
    • 90 Thanks
    pinkcloud
    I am also interested in this but cannot see how to get notified of replies?
    • pmduk
    • By pmduk 28th Oct 13, 11:58 AM
    • 10,134 Posts
    • 7,757 Thanks
    pmduk
    I am also interested in this but cannot see how to get notified of replies?
    Originally posted by pinkcloud
    Do you mean replies to this thread? click on thread tools above, select subscribe to this thread and choose your options.

    Sorry if I've misunderstood your question.
  • oranger
    Just to update this thread - Citibank, having previously used the mid-market rate for Euro transfers (which was very good) - now convert the money into US dollars and then into Euros. Which basically means you lose out - at present, when the rate is 1.25, they only give you 1.21.

    Which means I'm now on the look out for another Euro account from a UK bank (the key being getting pounds in there at low cost)
  • LeDe
    Just to update this thread - Citibank, having previously used the mid-market rate for Euro transfers (which was very good) - now convert the money into US dollars and then into Euros. Which basically means you lose out - at present, when the rate is 1.25, they only give you 1.21.

    Which means I'm now on the look out for another Euro account from a UK bank (the key being getting pounds in there at low cost)
    Originally posted by oranger
    If you're paying in a foreign currency into a Euro account like most accounts it should go through a USD conversion then into EUR so it'd go GBP > USD > EUR as USD is the base currency.

    Why don't you get a German account with Comdirect or DKB, both fee-free online banks which allow UK openings, alternatively you could open an account with Soci!t! G!n!rale in France through their ACPI branch in Paris.

    If you want the UK then I guess HSBC maybe best?
    • southantrim3
    • By southantrim3 27th Jun 14, 12:47 PM
    • 810 Posts
    • 1,685 Thanks
    southantrim3
    Other option is driving to Ireland and opening an Irish account. Can't remember off the top of my head which are happy with a UK address though.
    Originally posted by heloid
    Yep, they are. I only have a UK address and have a Euro Current bank a/c with Allied Irish Bank. Granted I live in Northern Ireland so it's easier for me to get to the Republic of Ireland, but it's doable...
    Everybody's Normal Till You Get to Know Them.
  • FFB
    Euro account
    I have been reading this thread with interest as my wife is about to receive an inheritance from her late mother who lived in Germany.


    We should like to keep the money in euros as we visit the continent on a regular basis and we have relatives who live there so would DKB (or such) be good for us? This will be a one-off deposit only.
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