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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 3
  • mayfairman
    DKB, Citi and Bank of Cyprus
    DKB does not offer accounts to UK residents any more
    Citi charges £35 per month account fee
    Bank of Cyprus charges for everything you do including 2.75% for ATM withdrawals and 1 Euro for all credits
    • eDicky
    • By eDicky 16th Mar 15, 8:23 AM
    • 4,936 Posts
    • 3,034 Thanks
    eDicky
    Channel Isles, Isle of Man
    Many banks have a branch in Jersey, Guernsey or IoM (eg santanderpb.je), offering accounts in GBP, USD and EUR, with attached debit card in each currency. Part of UK system for direct debits, free transfers etc. But generally zero interest these days and minimum account balance requirements to avoid monthly charges (so effectively a cost if this money could earn interest elsewhere), and mid-market rates probably not used for currency conversions between accounts. Their foreign tax-avoidance and expatriate clientele is likely to be reduced these days so research might find some banks relaxing minimum balance requirements to attract UK customers and survive.
  • Lyme Bay Harley
    Hi I am new to this forum but wanted to get advice about how the best way is of paying for something in Euros. I am UK based and have to pay 30000Euros worth into a Euro account abroad. what is the best way of doing this?
    • Archi Bald
    • By Archi Bald 16th Mar 15, 1:45 PM
    • 9,376 Posts
    • 7,432 Thanks
    Archi Bald
    Best to use a currency transfer service - find the best one on fxcompared.com
    • benjus
    • By benjus 16th Mar 15, 1:49 PM
    • 5,317 Posts
    • 3,273 Thanks
    benjus
    Hi I am new to this forum but wanted to get advice about how the best way is of paying for something in Euros. I am UK based and have to pay 30000Euros worth into a Euro account abroad. what is the best way of doing this?
    Originally posted by Lyme Bay Harley
    Depends what you mean by "best".

    Cheapest: probably https://transferwise.com/ or similar - however in the unlikely event that they go bankrupt while holding your money (they only hold it for a short time), you'll probably lose it.

    Safest: your bank - however the exchange rate will probably not be good - you may not even be able to control whether it's the sending or receiving bank that converts from GBP to EUR.

    You could try calling your bank to see if they can offer a better exchange rate than the default one. You could also send the money in several smaller installments.
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
  • mathelaci
    EURO account
    Hi, I receive most of my income in EURs. I have been with HSBC and now Metro bank, both use an exchange rathe that includes 2-3% on top of the interbank exchange rate, when converting EURs into GBP, so I end up paying quite a lot. I have checked DKB mentioned in this thread a while ago, they no longer offer bank account for UK residents. It would have been good though! Cyprus Bank charges quite a lot. The offshore ones are also expensive. I am looking for a cheap euro bank account or a sterling account that does not apply charges for incoming payments in EUROs. Thanks. Laszlo
    • MARTYM8`
    • By MARTYM8` 30th Mar 15, 5:39 PM
    • 1,197 Posts
    • 854 Thanks
    MARTYM8`
    As has been suggested you could open a Euro account with an Irish bank (avoids the language issue!) – I believe Allied Irish will open euro accounts for non residents but you may actually have to go to Ireland to open it via a branch. Expect some questions as to why. You can call them on 00 353 1771 2424

    Barclays do offer a Euro account for current account holders – presumably you can use the currency transfer firms (transferwise/HiFx etc) to convert from that Euro account to sterling at better than bank rates. In effect you transfer to them in Euro – and then convert with lower charges/better rates than your own bank and pay this into your sterling account.

    PS Topcashback offer cashback on your first use of some of these currency transfer firms - just a suggestion!
    • grumbler
    • By grumbler 30th Mar 15, 5:52 PM
    • 51,740 Posts
    • 21,942 Thanks
    grumbler
    ...presumably you can use the currency transfer firms (transferwise/HiFx etc) to convert from that Euro account to sterling at better than bank rates. In effect you transfer to them in Euro – and then convert with lower charges/better rates than your own bank and pay this into your sterling account. ...
    Originally posted by MARTYM8`
    Presumably - for big amounts, as the transfer will cost you at least £15.
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • dougz
    • By dougz 30th Mar 15, 10:38 PM
    • 518 Posts
    • 122 Thanks
    dougz
    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.
    Originally posted by bigjl
    Looks like you also need a GBP card account first with a £4.95 monthly account fee while you hold a balance, but might still be worth it. Anyone know if you can do bank transfers out again, in the same currency as the currency card account, i.e to a forex service, if so how much such a transfer costs? Or do you have to spend all your USD/EUR using the card for purchases?
    • benjus
    • By benjus 31st Mar 15, 8:51 AM
    • 5,317 Posts
    • 3,273 Thanks
    benjus
    There's always Britline, the one I use. It's not free (€0.60 / month basic account charge, €30-€45/year for a debit card, fees for using other banks' ATMs) but it might be the cheapest option now that DKB is no longer available. Customer service is in English (but online banking is in French) and the account is registered to my UK address. I've been happy with the service.
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
    • eDicky
    • By eDicky 31st Mar 15, 7:11 PM
    • 4,936 Posts
    • 3,034 Thanks
    eDicky
    Cashplus Euro card
    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.
    Originally posted by bigjl
    Looks like you also need a GBP card account first with a £4.95 monthly account fee while you hold a balance, but might still be worth it. Anyone know if you can do bank transfers out again, in the same currency as the currency card account, i.e to a forex service, if so how much such a transfer costs? Or do you have to spend all your USD/EUR using the card for purchases?
    Originally posted by dougz
    I have a Cashplus account, the main GBP card with sort code and account number which allows free transfers in and out, and a connected EUR card which as far as I can see does not. In the T&Cs for the currency cards:

    3.3 Top ups can be made; i) by transfer from a linked Cashplus Card Account, and ii) by exchanging Pounds for Euros/US Dollars at outlets of ‘The Money Shop’. Details of the exchange rate and applicable fees are available from ‘The Money Shop’. Funds should be available on your account within 30 minutes

    No other ways of depositing Euros directly to the card are mentioned, and I never imagined that there would be any.

    BTW I have never loaded or used the (free) Euro card because of the atrocious exchange rate used to transfer from the main card, but now having read the above T&Cs about 'The Money Shop' I will check their rates when next in the UK, I saw it mentioned somewhere that they are quite favourable.
    Evolution, not revolution
    • grumbler
    • By grumbler 31st Mar 15, 7:18 PM
    • 51,740 Posts
    • 21,942 Thanks
    grumbler
    ...having read the above T&Cs about 'The Money Shop' I will check their rates when next in the UK, I saw it mentioned somewhere that they are quite favourable.
    Originally posted by eDicky
    >> Foreign Currency
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
    • eDicky
    • By eDicky 31st Mar 15, 7:31 PM
    • 4,936 Posts
    • 3,034 Thanks
    eDicky
    Originally posted by grumbler
    Thanks, not looking good but better than the card transfer rate. Might be a better rate if you walk in with the cash, which is what somebody posted about somewhere...
    Evolution, not revolution
    • symphony63
    • By symphony63 21st Apr 15, 3:03 PM
    • 104 Posts
    • 12 Thanks
    symphony63
    Any opinions regarding Barclays Euro account?
    • dicky73
    • By dicky73 21st Apr 15, 7:25 PM
    • 140 Posts
    • 11 Thanks
    dicky73
    Any opinions regarding Barclays Euro account?
    Originally posted by symphony63
    My Barclays Euro account is up and running as of yesterday. Looks like it doesn't show up on the mobile app though.
    Other than that, its early days, time will tell if I have made the correct choice.
    "It would be easier to find a packet of sliced hippopotamus in suitcase sauce" - Basil Fawlty
  • spezial
    I also need opinions on Barclays Euro account
    what are the charges? is it safe to deposit 200k euros there?
    what is needed for a barclays account holder to open it?
    and wait for a good conversion rate to make them pounds
    • grumbler
    • By grumbler 23rd May 15, 7:36 PM
    • 51,740 Posts
    • 21,942 Thanks
    grumbler
    I also need opinions on Barclays Euro account
    what are the charges?
    Originally posted by spezial
    euro account rates and charges 290 KB
    is it safe to deposit 200k euros there?
    Define 'safe'.

    MSE article: Are Your Savings Safe?
    what is needed for a barclays account holder to open it?
    "If you have a Barclays sterling account you can apply in branch for your euro account"
    http://www.barclays.co.uk/Otheraccounts/Currencyaccounts/euroAccountndashTheidealeurobankaccount/P1242557963870
    and wait for a good conversion rate to make them pounds
    We are born naked, wet and hungry...Then things get worse.

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • emuzeg
    So it appears UK residents cant open a free euro DKB account anymore - but what about these two:

    https://www.comdirect.de/

    https://www.societegenerale.fr/

    Any experience on these?
    • jonesMUFCforever
    • By jonesMUFCforever 1st Aug 15, 9:20 PM
    • 26,122 Posts
    • 13,282 Thanks
    jonesMUFCforever
    Well Barclays are kicking out overseas customers unless they hold £100k in their accounts - not sure if this is because of Euro regulations or not making enough money from them - why would these banks be different?
    What goes around - comes around
    give lots and you will always receive lots
    • c-m
    • By c-m 1st Aug 15, 9:42 PM
    • 745 Posts
    • 253 Thanks
    c-m
    It's a shame there aren't more options. The single market doesn't seem to have caught on in the banking industry.
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