benaj
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Post by benaj on Nov 14, 2018 12:05:06 GMT
The only issue with Barclays account is availability. Application can only be done in the branch. All the local branches around me have at least 2 or 3 weeks waiting before an appointment.
The earliest one I found is for tomorrow, near Bank of England.
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james100
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Post by james100 on Nov 14, 2018 12:35:48 GMT
I also have a Barclays Euro account. Be aware that if you are depositing large denomination notes with them, they will be sent to a third party authentication unit before being credited to your account. It can take 2-4 weeks. If you do this then remember to get the bank to sign for the note serial codes before handing them over.
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benaj
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Post by benaj on Nov 14, 2018 12:41:44 GMT
Thanks for the tip.
I don't think I will deposit a large foreign cash deposit @ Barclays. Just those odd notes
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IFISAcava
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Post by IFISAcava on Nov 14, 2018 12:50:53 GMT
Citibank offer a good Euro account but there's a minimum balance for it to be free of a monthly fee (around £2000 equivalent or thereabouts) It used to be a fantastic account, not so good now. Not sure that it is possible to deposit cash any more as all of the branches have gone, cheques can be posted, also some of the online FX payment services don't work with it (that might be with us$ rather than Euro). As others, above, say I don't really see the need - I have the Citibank account in GBP, Euro and USD and no longer use it for holiday cash. None of these accounts pays interest so you will not gain anything by depositing it and you might well find that you can't easily use revolute or transferwise to move the money out because of the way the account is held. If you regularly travel back with 1,000s of Eur the chance that you pocket is picked must be higher than some bank charges. Citibank works fine with Euros to/from Transferwise/Revolut. My view is that holding some foreign currency (mainly Euros and Dollars, but also some Yen and Swiss Francs) is worthwhile because what you lose in interest (very little at current cash rates) is more than offset by having a hedge against a calamitous drop in Sterling. And it's going to be spent anyway for those of use that travel a lot. So a proportion of what I have in cash is currently in foreign currency, for which there is no conversion charge for a decent whack each month on Revolut. In the unlikely event the pound does recover to pre-Brexit levels, then so much the better given that the vast majority if my assets are in Sterling.
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bigfoot12
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Post by bigfoot12 on Nov 14, 2018 12:54:56 GMT
Thanks for the tip. I don't think I will deposit a large foreign cash deposit @ Barclays. Just those odd notes The other thing I have done (in non USD or EUR countries) is pay my final hotel bill using all my local currency and the balance on my credit card. (Obviously you need a plan to get to the airport.) Another thing I used to do, not so much recently, is find someone else travelling to the same place and swap for GBP at mid market. This was very common in my old office.
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benaj
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Post by benaj on Nov 17, 2018 15:03:53 GMT
I also have a Barclays Euro account. Be aware that if you are depositing large denomination notes with them, they will be sent to a third party authentication unit before being credited to your account. It can take 2-4 weeks. If you do this then remember to get the bank to sign for the note serial codes before handing them over. I've opened a Barclays Currency account. Unlike the sterling account, the euro I deposited @ the counter was only credited very late on the evening. I could not made an EUR transfer on the same day. :-( It seems weird Europe hasn't fully adapted Instant Payment at the moment when UK introduced Faster Payment in 2008.
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Mucho P2P
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Post by Mucho P2P on Nov 22, 2018 17:28:54 GMT
Hi, I wonder if there is a currency account that takes euro notes deposit without monthly fee? I hate getting poor rates currency buyback of travel money and want to take advantage of exchange rate at the time suits me. If you have a Euro account with debit card you wont have many notes left over to worry about. And it's cheaper / free to exchange and spend electronic Euros, whereas notes always have a fee one way or another. And which UK bank offers a Euro account with a debit card? Many banks offer Euro account, but not with a Euro debit card, unfortunately. Only SC to the best of my knowledge.
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IFISAcava
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Post by IFISAcava on Nov 22, 2018 17:45:00 GMT
If you have a Euro account with debit card you wont have many notes left over to worry about. And it's cheaper / free to exchange and spend electronic Euros, whereas notes always have a fee one way or another. And which UK bank offers a Euro account with a debit card? Many banks offer Euro account, but not with a Euro debit card, unfortunately. Only SC to the best of my knowledge. Citibank Also Revolut and Transferwise have foreign currency accounts and debit cards (but not full banking) I have all three, Citibank and Revolut the most used
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benaj
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Post by benaj on Nov 22, 2018 18:06:56 GMT
If you have a Euro account with debit card you wont have many notes left over to worry about. And it's cheaper / free to exchange and spend electronic Euros, whereas notes always have a fee one way or another. And which UK bank offers a Euro account with a debit card? Many banks offer Euro account, but not with a Euro debit card, unfortunately. Only SC to the best of my knowledge. Transferwise's Borderless account offers a multicurrency debit card for free. Fineco also offers an euro account with a EUR debit card with a small delivery charge. £2.95 fee. Even better it nows offer £50 cashback bonus for joining via a friend code (  ). Fineco is a Italian bank which offers UK/USD/EUR account. Revolut now offers multi currency account with debit card for free for a limited time period + £1.50 for joiningI suppose it is possible to send EURO to Transfewise Borderless account and use the Transferwise debit for fee free transactions. However, Transferwise charges a small fee for sending money / currency conversion / ATM withdrawal above limit. Transferwise charges 0.80 EUR for sending EURO in the same currency via bank transfer. At last, Monese offers GBP and EURO account for free. Signing up via Friends invite earn £10 ( ), Euro Debit card costs 4.95 EUR
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bigfoot12
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Post by bigfoot12 on Nov 22, 2018 20:51:55 GMT
And which UK bank offers a Euro account with a debit card? Many banks offer Euro account, but not with a Euro debit card, unfortunately. Only SC to the best of my knowledge. Citibank Technically the London branch of an Irish bank at the moment - I assume that doesn't matter to you. It used to be UK, but they closed it a couple of years ago and transferred us. Now with Brexit they are creating a new UK entity and transferring us back again!
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). Fineco is a Italian bank which offers UK/USD/EUR account.