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  • FIRST POST
    • SK55607
    • By SK55607 13th Feb 18, 11:45 PM
    • 3Posts
    • 1Thanks
    SK55607
    Euro Acct. being closed - temp. destination?
    • #1
    • 13th Feb 18, 11:45 PM
    Euro Acct. being closed - temp. destination? 13th Feb 18 at 11:45 PM
    My Euro account is being closed, does anyone know where I can safely and quickly park my money for a month or so while I choose and then open a new euro account ? Somewhere or something I can transfer the money into from a Euro account ?

    Thanks
    Last edited by SK55607; 13-02-2018 at 11:54 PM.
Page 1
    • eDicky
    • By eDicky 14th Feb 18, 7:49 AM
    • 3,320 Posts
    • 1,560 Thanks
    eDicky
    • #2
    • 14th Feb 18, 7:49 AM
    • #2
    • 14th Feb 18, 7:49 AM
    Fineco Bank UK is an actual bank account, otherwise Revolut or TransferWise 'Borderless Account' could be used to receive and hold funds in euros.
    • SK55607
    • By SK55607 14th Feb 18, 10:14 AM
    • 3 Posts
    • 1 Thanks
    SK55607
    • #3
    • 14th Feb 18, 10:14 AM
    • #3
    • 14th Feb 18, 10:14 AM
    Thanks eDicky, I'll look into these 3. Do Revolut and TransferWise have similar protections to a bank account ?
    • SK55607
    • By SK55607 14th Feb 18, 4:48 PM
    • 3 Posts
    • 1 Thanks
    SK55607
    • #4
    • 14th Feb 18, 4:48 PM
    • #4
    • 14th Feb 18, 4:48 PM
    Looking into them I'm concerned they may be a risk for +/-100,000 Euro. I'm also in contact with HSBC who do a Euro account if you open a current account. Does anyone recommend/have any experience with KBC ? Is there any other stable vehicle where I can leave my euros for 1-month while I find the best account for me ?
    • eDicky
    • By eDicky 15th Feb 18, 6:31 AM
    • 3,320 Posts
    • 1,560 Thanks
    eDicky
    • #5
    • 15th Feb 18, 6:31 AM
    • #5
    • 15th Feb 18, 6:31 AM
    KBC Ireland is fine and can be opened easily with a UK address, if that's what you have.

    Obviously a real bank account would be much better to keep that amount - so a bank account to hold it until you find a bank account... Its hard to advise without knowing your specific requirements.
    • Lith
    • By Lith 1st Mar 18, 9:02 PM
    • 872 Posts
    • 248 Thanks
    Lith
    • #6
    • 1st Mar 18, 9:02 PM
    • #6
    • 1st Mar 18, 9:02 PM
    Try KBC

    it's a bank in Ireland but easy to open via online.

    http://kbc.ie



    KBC Ireland is fine and can be opened easily with a UK address, if that's what you have.

    Obviously a real bank account would be much better to keep that amount - so a bank account to hold it until you find a bank account... Its hard to advise without knowing your specific requirements.
    Originally posted by eDicky
    So KBC isn't a real (BANK) in your eyes? or am i missing something here lol?
    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
    • Anthorn
    • By Anthorn 1st Mar 18, 10:06 PM
    • 3,574 Posts
    • 924 Thanks
    Anthorn
    • #7
    • 1st Mar 18, 10:06 PM
    • #7
    • 1st Mar 18, 10:06 PM
    My Euro account is being closed, does anyone know where I can safely and quickly park my money for a month or so while I choose and then open a new euro account ? Somewhere or something I can transfer the money into from a Euro account ?

    Thanks
    Originally posted by SK55607
    The first solution which comes to mind is your own U.K. bank account. But be prepared for fees when the Euros are converted to GBP. You should have at least two options for the exchange rate, either the transmitting bank will convert to GBP or they will transmit Euros and leave it to the receiving bank to convert to GBP. Personally when I transfer from my French account to my U.K. account I don't get told about those options. I have to ask or otherwise the transmitting bank will just send euros.

    I'm not much of a fan of Revolut but I would recommend it in this case provided the money is held by Revolut for a short time as you say.
    • eDicky
    • By eDicky 2nd Mar 18, 7:53 AM
    • 3,320 Posts
    • 1,560 Thanks
    eDicky
    • #8
    • 2nd Mar 18, 7:53 AM
    • #8
    • 2nd Mar 18, 7:53 AM
    So KBC isn't a real (BANK) in your eyes? or am i missing something here lol?
    Originally posted by Lith
    I was trying to say that a real bank such as KBC or Fineco would be better for lodging a large sum than my other suggestions of Revolut or TransferWise.
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