International business banking: receiving € from abroad

[GuigiaroBertone]

Does anyone have any recommendations for a good business bank account? My turnover is under 500k and I'm currently with NatWest who aren't great for receiving international payments. They charge 2.75% plus a rubbish exchange rate, plus their customer service is lacking.

My typical balance is over the 85k FSCS threshold at around £130k, so may need to open two new accounts that belong to separate banking groups.

My personal account is also with Natwest, so I originally opened my business account with them for convenience.

I've looked at Anna, Monzo and Starling- any others worth looking into?

[EdmondDantes]

What about TransferWise now called “Wise” I’ve used them lots for international payments and they seem good. Great rates also. Customer service was good. I’d avoid Revolut at all costs.

[GuigiaroBertone]

EdmondDantes said:

What about TransferWise now called “Wise” I’ve used them lots for international payments and they seem good. Great rates also. Customer service was good. I’d avoid Revolut at all costs.

What's up with Revolut? Bad service? I've just spent the last hour comparing and on paper they seem to be very competitive.

[Al Gorithum]

Never had issues with Moneycorp.

[CLK-GTR]

GuigiaroBertone said:

What's up with Revolut? Bad service? I've just spent the last hour comparing and on paper they seem to be very competitive.

Revolut's downfall is its customer support. They're responsive but useless and it doesn't seem to matter what tier account you hold with them. They don't seem to be able to do anything without a million steps and hoops to jump through.

I use Wise and they're good, but i have a Monzo account as a FSCS protected backup.

[GuigiaroBertone]

Just tidying up a loose end.

First of all- thanks for your replies.

I went with Revolut in the end. They offered the most interest.

All was good until their online access went down- just after I transferred in about 3 months worth of earnings. Cue 2 hours of desperately trying to speak to a person for reassurance. Systems were back up later the same day.

Apart from that- all ok!

[essayer]

Have you considered opening a EUR bank account with someone like HSBC ? You then can control the transfer of funds back into GBP at your own leisure using a fx specialist like Xe