Best UK GBP account for EUR salary?
Discussion
Having a review of my finances at the moment and Lloyds are charging me over 3kGBP (vs market rate) pa for the privilege of paying in my EUR salary every month. Are there any high street banks which can do better when paying in EUR? I'm not interested in offshore accounts or EUR accounts (my life is in the UK - mortgage, bills, schools etc) just the ridiculous commission (and the piss) they are taking.
You'll find it quite hard to get any transparency on the rates unfortunately. I gave up trying. Santander charged us 1.43404 EUR/GBP on a small transfer on 26/10, xe.com has the rate for that day at 1.39034.
How about opening a EUR bank account then using Transferwise/Hifx etc to fix the rate? We have a business USD account via HSBC, tenner a month or so in fees and £26 for each transfer, which goes via Hifx for example with a predictable rate.
How about opening a EUR bank account then using Transferwise/Hifx etc to fix the rate? We have a business USD account via HSBC, tenner a month or so in fees and £26 for each transfer, which goes via Hifx for example with a predictable rate.
Edited by essayer on Monday 15th February 13:04
essayer said:
You'll find it quite hard to get any transparency on the rates unfortunately. I gave up trying.
How about opening a EUR bank account then using Transferwise/Hifx etc to fix the rate? We have a business USD account via HSBC, tenner a month or so in fees and £26 for each transfer, which goes via Hifx for example with a predictable rate.
Yeah, the rates on those sites seem much more favourable, I'm just not sure I wan't to pay my full salary into an internet 'bank'.How about opening a EUR bank account then using Transferwise/Hifx etc to fix the rate? We have a business USD account via HSBC, tenner a month or so in fees and £26 for each transfer, which goes via Hifx for example with a predictable rate.
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