Bank Account in Euro's

[TonyAsh]

Would it be possible, feasible and advantageous to open a bank account in a France, (or Irish), based bank for use when travelling in Europe.

Once the sterling / euro exchange rate returns to a realistic level a few euro's tucked away may be a good idea.

thanks

 

[ValA.]

We stick to the Nationwide Flex account. We have a special 'holiday account' and save up our

 

[Guest]

It is certainly possible to open a Euro account with banks in Europe. I have one myself. Although Ireland would seem the most convenient most European Banks will handle the transactions in English so the choice is open. Most banks will allow you to open an international account so you do not need to be resident. There is however probably a minimum deposit. With mine I get an ATM card which works anywhere in Europe. It means that i can withdraw Euros free of charge. However, the downside is that if I want a currency other than Euros, then I pay a transaction charge. I also have to pay a fee for the ATM card which is about 10 euros for 2 years. I do get interest but it is very small and I have 16% tax deducted as per EU laws. I also have to declare the account and the interest to the Inland Revenue.

We like it as we can draw the Euros we want as and when we want. The daily limit is normally 300 euros but in certain countries I can take more. No worrying about whether G Brown has reduced the Pound.

One other option is to open an offshore account in Euros with any of the main British banks or Building Societies. They will often give a Card for use in ATM machines. Unfortunately, free banking is not usually available, so decide if the cost is justifiable. If you make regular trips to Europe then it possibly is.

 

[Les_374409771]

We have held an account with Credit Agricole for many years

and found them very helpful they have a dedicated office for uk

business they make a charge of =/- _35 per annum for a debit card. Try them on their website BRITLINE (or similar) worth the search and perhaps a `phone call

one other thing they tend to give a better (commercial) exchange rate than our high street banks