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  • FIRST POST
    • bery_451
    • By bery_451 2nd Jan 18, 4:16 PM
    • 1,160Posts
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    bery_451
    Best € Euro/international bank accounts?
    • #1
    • 2nd Jan 18, 4:16 PM
    Best € Euro/international bank accounts? 2nd Jan 18 at 4:16 PM
    Hi

    Can anyone recommend a bank account in Euros/Dollars etc so don't have to pay a lot for fees/exchange rates etc.

    Or which UK high street banks accounts offer such account services?
Page 1
    • DCFC79
    • By DCFC79 2nd Jan 18, 4:25 PM
    • 31,937 Posts
    • 20,115 Thanks
    DCFC79
    • #2
    • 2nd Jan 18, 4:25 PM
    • #2
    • 2nd Jan 18, 4:25 PM
    You checked out some of the previous posts on the very same subject, well euro bank accounts at least ?

    Thread 1

    thread 2

    An account is mentioned here

    Other options here

    Could be other threads too
    • bery_451
    • By bery_451 2nd Jan 18, 6:29 PM
    • 1,160 Posts
    • 31 Thanks
    bery_451
    • #3
    • 2nd Jan 18, 6:29 PM
    • #3
    • 2nd Jan 18, 6:29 PM
    Ok so many options. Which one will get the vote and has the best customer reviews?

    Also which ones are backed by a guarantee?

    The last thing I wanna do is put €euro in a account that can go bust or close down. Looking for something that is established and reliable.
    • eDicky
    • By eDicky 3rd Jan 18, 12:35 AM
    • 3,520 Posts
    • 1,702 Thanks
    eDicky
    • #4
    • 3rd Jan 18, 12:35 AM
    • #4
    • 3rd Jan 18, 12:35 AM
    The best options depend to a large extent on your intended purpose for such accounts, but could well be Fineco Bank UK.
    Last edited by eDicky; 03-01-2018 at 12:38 AM.
    • bery_451
    • By bery_451 4th Jan 18, 9:17 PM
    • 1,160 Posts
    • 31 Thanks
    bery_451
    • #5
    • 4th Jan 18, 9:17 PM
    • #5
    • 4th Jan 18, 9:17 PM
    Yes my intention is finding an uk gbp account that gives the best exchange rate from !!!8364;euro to £ with the cheapest conversion fee.

    Otherwise it has to be a !!!8364;euro account.

    Any suggestions?
    • Nothanks
    • By Nothanks 5th Jan 18, 5:47 AM
    • 123 Posts
    • 135 Thanks
    Nothanks
    • #6
    • 5th Jan 18, 5:47 AM
    • #6
    • 5th Jan 18, 5:47 AM
    Pretty much all the high st banks offer this, but fees are a mixed bag. TransferWise actually now offers bank accounts, including one that acts as multicurrency at low rates by giving you virtual accounts in other jurisdictions.
    Last edited by Nothanks; 05-01-2018 at 5:47 AM. Reason: Stupid autocorrect
    Anything I post is solely MY OPINION. It never constitutes legal, financial or collective bargaining advice. I may tell you based on information given how I might approach an employment dispute case, but you should always seek advice from your own Union representative. If you don't have one, get one!
    • eDicky
    • By eDicky 5th Jan 18, 9:00 AM
    • 3,520 Posts
    • 1,702 Thanks
    eDicky
    • #7
    • 5th Jan 18, 9:00 AM
    • #7
    • 5th Jan 18, 9:00 AM
    Fineco Bank UK is a real bank with FSCS protection, conversion between currencies at very close to the perfect interbank rates and withdrawal of pounds to another UK account costs (I believe) 50p.

    TransferWise Borderless Account is not a bank account but may serve your purpose, conversion at interbank rates with 0.5% fee.

    Revolut is a versatile multi-currency tool which can be used to hold, convert and send funds, interbank rate (weekdays)) with no fees up to £5k/month, 0.5% thereafter and no fees to withdraw/send elsewhere. So if you have a euro account in Germany out Ireland, for example, you can use Revolut to receive, convert and send your euros to pounds etc.

    Forget about foreign currency accounts with the UK 'high street' banks.
    • bery_451
    • By bery_451 6th Jan 18, 7:49 PM
    • 1,160 Posts
    • 31 Thanks
    bery_451
    • #8
    • 6th Jan 18, 7:49 PM
    • #8
    • 6th Jan 18, 7:49 PM
    Ok understood, if I need any help I come back here, cheers.
    • bncs
    • By bncs 15th Jan 18, 12:31 PM
    • 2 Posts
    • 0 Thanks
    bncs
    • #9
    • 15th Jan 18, 12:31 PM
    • #9
    • 15th Jan 18, 12:31 PM
    Revolut is a versatile multi-currency tool which can be used to hold, convert and send funds, interbank rate (weekdays)) with no fees up to £5k/month, 0.5% thereafter and no fees to withdraw/send elsewhere. So if you have a euro account in Germany out Ireland, for example, you can use Revolut to receive, convert and send your euros to pounds etc.
    .

    eDicky, came across your post whilst looking into Revolut's offering.

    In my case, I have my salary paid into a high street bank account. I'd then like to transfer a fixed sum every month to a GBP account and FX the whole sum (always) to a EUR account. The GBP account just needs to be on its own, whereas I would like a EUR account linked to a EUR debit card and (important) the ability of making bank transfers in Italy. I don't plan to keep any EUR balance on the account, which would be decreasing until the following transfer from the GBP account. Therefore I'm not too concerned about the lack of FSCS protection.

    In your experience, is Revolut a good option? I have read so much bad opinions around, especially how crap their debit card security is (which bothers me as I intend to entirely depend on their EUR debit card when not in the UK).

    What is the 0.5% fee about?

    Also, what is the benefit of opening the account in Germany whilst using it in Ireland?

    Thanks!
    • ivormonee
    • By ivormonee 15th Jan 18, 2:18 PM
    • 165 Posts
    • 102 Thanks
    ivormonee
    I set up a Revolut account recently. I found it quite difficult to use. Also, they say you can use it to pay in your salary and pay bills. However, bills tend to be in pounds and pence (or euros and cents) but Revolut only allows you to make payments in whole pounds or whole euros only, so I find it unusable. I therefore would not recommend it.
    • ivormonee
    • By ivormonee 15th Jan 18, 2:28 PM
    • 165 Posts
    • 102 Thanks
    ivormonee
    Also I should say that there is no support for Revolut. The only option is through the app and all that is is a "bot" ie. you can't talk to a human being either online, through the app or on the phone. So if any of your money goes missing or something else goes wrong, as happened to me, there is nobody at Revolut you can talk to and you suffer the loss.
    • bncs
    • By bncs 15th Jan 18, 3:25 PM
    • 2 Posts
    • 0 Thanks
    bncs
    Thanks for sharing ivormonee. May I ask how exactly did your money get lost? I heard their EUR account has an LT- IBAN but a GB SWIFT code, causing all sorts of troubles when sending funds. Was that your experience?
    • bery_451
    • By bery_451 15th Jan 18, 5:07 PM
    • 1,160 Posts
    • 31 Thanks
    bery_451
    Is Revolut backed by any guarantees?
    • bery_451
    • By bery_451 25th Jan 18, 5:11 PM
    • 1,160 Posts
    • 31 Thanks
    bery_451
    Hi i opened a EUR account with Revolut.

    I see 2 options they are local and swift.

    Which one shall i use for deposit?
    • eDicky
    • By eDicky 10th Feb 18, 8:30 AM
    • 3,520 Posts
    • 1,702 Thanks
    eDicky
    .

    eDicky, came across your post whilst looking into Revolut's offering.

    In my case, I have my salary paid into a high street bank account. I'd then like to transfer a fixed sum every month to a GBP account and FX the whole sum (always) to a EUR account. The GBP account just needs to be on its own, whereas I would like a EUR account linked to a EUR debit card and (important) the ability of making bank transfers in Italy. I don't plan to keep any EUR balance on the account, which would be decreasing until the following transfer from the GBP account. Therefore I'm not too concerned about the lack of FSCS protection.

    In your experience, is Revolut a good option? I have read so much bad opinions around, especially how crap their debit card security is (which bothers me as I intend to entirely depend on their EUR debit card when not in the UK).

    What is the 0.5% fee about?

    Also, what is the benefit of opening the account in Germany whilst using it in Ireland?

    Thanks!
    Originally posted by bncs
    I thought I replied already but apparently not.

    "euro account in Germany out Ireland" is my typo, it should read Germany OR Ireland.

    I have been using Revolut since they began, coming up to three years ago. I'm more than satisfied, it's saved me serious money, and any issues have been resolved swiftly. A lot of nonsense has been spouted about Revolut, mostly by those who have not bothered to learn how it works, which I recommend you do by reading the FAQs before using it.

    The multi currency debit card has a range of selectable security features which probably make it the most secure card available if used correctly.

    You should be able to use Revolut for the purpose you mention.

    The 0.5% fee on currency conversions applies after the first £5000 worth you make per month. Conversion is at the interbank rate of the moment, slightly off on weekends when there's no liquidity.
    Last edited by eDicky; 10-02-2018 at 8:58 AM.
    • eDicky
    • By eDicky 10th Feb 18, 8:36 AM
    • 3,520 Posts
    • 1,702 Thanks
    eDicky
    Hi i opened a EUR account with Revolut.

    I see 2 options they are local and swift.

    Which one shall i use for deposit?
    Originally posted by bery_451
    It's a multi currency account that you opened with Revolut.

    Use your personal IBAN to receive a SEPA payment ('local') or SWIFT to the Revolut account with your personal reference if it's coming from outside Europe and SEPA cannot be used. You can also add funds to your euro balance with a euro debit card. No fees regardless.
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