Euro Bank Account linked to a UK bank account.

[revs88]

Hi all,

A bit of advice wanted.

I get a bit board getting stung for rubbish exchange rates and being charged for every time I pay by card in Europe - my work involves me doing this quite a bit now.

Can anyone recommend a UK based bank that provides a Euro account which sits alongside your main £GBP one.

I know Citibank has a personal banking service that does this for € and $ but wondered if there were any others worth considering.

Cheers, Richard

[digger_R]

I have a Barclays linked euro account but it's pretty awful, charges for transferring money out etc.

Dedicated currency brokers are the way to go if you can wait a couple of days for the transfers to go through.

I'm looking for a euro current account that can offer a debit card, if anyone knows of one I'd appreciate that info!

[Minel]

tell more about these dedicated currency brokers please?

I'm going to need this type of setup soon

[ATM]

digger_R said:

I have a Barclays linked euro account but it's pretty awful, charges for transferring money out etc.

Dedicated currency brokers are the way to go if you can wait a couple of days for the transfers to go through.

I'm looking for a euro current account that can offer a debit card, if anyone knows of one I'd appreciate that info!

Citi Bank

You get a Visa card and can have separate accounts for EUR and USD. Then if you are going to Europe you can call them or email them and say please lik my Visa card to my EUR account now please. Hey presto when you are in Europe and withdraw cash or use your card in boozers etc then the money comes out of your EUR account. Same with USD. Thats the theory as I have not tried using mine abroad yet. Fees are zero.

[ATM]

Minel said:

tell more about these dedicated currency brokers please?

I'm going to need this type of setup soon

I have used HIFX before after it was recommended on here. However they still charge a small percentage. It is less than the high street banks though and the PO.

[leyorkie]

The pre-loaded cards work out best but it depends how much you want to change.
FairFX usually has the better rates 1.1975 euros today with no charge when you use the card and 1.5 euro for withdrawing cash regardless of the amount. Only problem is the cash stays on the card if not spent and there is no interest paid on credit balances. You can play the rate game and top up when the rate is good, 1.22 being the best this year.
Can be loaded before travelling or by mobile or internet when abroad if you run low.
I have no connection with FairFx other than being a customer.
http://www.fairfx.com/

[964Cup]

Coutts do a multi-currency account with a Euro chargecard. Combine something like that with a good FX broker (WorldFirst, Caxton etc). Or get a European account (a number of e.g. French banks specialise in accounts for non-resident foreigners).

[digger_R]

Minel said:

tell more about these dedicated currency brokers please?

I'm going to need this type of setup soon

I've used www.xe.com for about eight years - mainly because you can setup and complete entire trades online, no need for someone to be sitting in an office taking your call but the rates offered aren't quite as good as I get with www.No1Currency.com in Edinburgh.
Only downside is that you have to call them for your trade, I don't believe they offer a live online rate

[Somewhatfoolish]

Strongly recommend first direct. Been excellent for me. My euro account is technically with HSBC international but everything is done through the first direct number, and they can take any fees from your sterling accounts.

I did the actual FX transfer at work at institutional rates, so can't comment on that aspect.

Edited by Somewhatfoolish on Saturday 11th September 20:21