shimself
Member of DD Central
Posts: 2,561
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Post by shimself on Feb 22, 2017 8:23:17 GMT
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Post by buttchopf23 on Feb 22, 2017 14:01:40 GMT
barclays would open an account for me, but I would need to maintain a balance of 25k permanently.... it would be much easier (only in this regard) if I lived in the EU..
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shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
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Post by shimself on Feb 22, 2017 17:12:25 GMT
barclays would open an account for me, but I would need to maintain a balance of 25k permanently.... it would be much easier (only in this regard) if I lived in the EU.. Is this a typo - if you are outside EU then I have no idea. I'm asking around in expat places for the latest
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Post by buttchopf23 on Feb 22, 2017 20:34:04 GMT
barclays would open an account for me, but I would need to maintain a balance of 25k permanently.... it would be much easier (only in this regard) if I lived in the EU.. Is this a typo - if you are outside EU then I have no idea. I'm asking around in expat places for the latest No typo. I am in Switzerland and Swiss. If Switzerland was in the EU I could easily open an account with smile, halifax or tsb. I asked Barclays and I could use it with the above mentioned balance. Bank of Cyprus UK would let me have an account, but I don't know at which price at the moment. It is not that important to me, but would help with the uk platforms. Appreciate your help, but as I said, I don't loose any sleep over it.
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sandbrain
Member of DD Central
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Post by sandbrain on May 3, 2017 10:08:30 GMT
I realise this thread is a couple of months old now but... I have started looking for a EUR account - not specifically for P2P use but good to have the option. I spotted Bunq Thoughts anyone?
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Post by loanstar on May 4, 2017 18:33:36 GMT
Bunq. You will need a Dutch bank account to feed money into your Bunq account. So not much use.
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Post by wiseclerk on May 4, 2017 18:39:53 GMT
Really? They advertise they give you 10 IBAN numbers with the Bunq account. So why would you need a Dutch bank account to transfer money in?
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Post by loanstar on May 4, 2017 19:18:26 GMT
If you send a request to someone from Bunq you are asked to pay using ideal or sofort. They are not services UK banks use.
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ozaz
Posts: 36
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Post by ozaz on May 4, 2017 22:30:10 GMT
Hi,
Just starting to think about depositing a small amount in a Euro P2P platform. I have no prior experiencing in investing in a foreign currency, and would be very grateful for some advice....
I understand how to transfer funds from my bank to the Euro platform relatively cheaply (e.g. via Transferwise) but I'm unclear on options and consequences for withdrawing money when I wish to do so in the future.
If you only have a UK bank account am I right in assuming your only option for withdrawing money from a Euro P2P platform is to have the platform pay direct to your UK bank account and you can't use a service like Transferwise for withdrawing from the P2P platform? What sort of fees and exchange rate markup is this likely to entail? I know this will vary from bank to bank......just trying to get a rough appreciation.
Thanks
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sandbrain
Member of DD Central
Posts: 62
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Post by sandbrain on May 5, 2017 12:47:48 GMT
Really? They advertise they give you 10 IBAN numbers with the Bunq account. So why would you need a Dutch bank account to transfer money in? Indeed! Certainly no need for a Dutch bank account. Transfer direct from own UK bank can be costly but there are lower cost alternatives via other international money transfer services. Just wondering if anyone on here has first hand experience of them. Could be a solution to funding (and withdrawing from) Euro platforms.
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Post by southseacompany on May 8, 2017 7:53:39 GMT
After seeing the discussion on Bunq in this thread (or bunq, as they spell it, perhaps having observed the spelling conventions of e e cummings a bit too closely), I decided to try it for myself. I started the account opening process on Friday, then sent a test deposit (by normal IBAN transfer), and now (Monday) my account is open and the deposit has arrived. So clearly there is no need for a Dutch account.
It's too early to comment on how banking is with them, but you could always try it yourself, since it's free (if you don't need a bank card).
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Post by buttchopf23 on May 8, 2017 8:06:13 GMT
Yes, I can confirm the same. Set it up last week hoping I could eventually get a gbp account (not possible atm).
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Post by wiseclerk on May 23, 2017 14:04:17 GMT
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Post by geoffrey on Jun 4, 2017 15:42:14 GMT
I've just seen the TransferWise Borderless account, and have opened one in GBP and one in EUR as a test. Interesting that you get a bank account in Germany when you open the EUR account. I'm wondering if anyone has used the account yet to transfer EUR to a Euroland P2P provider, and whether the money is seen as arriving from a bank account in your name or from "TransferWise".
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Post by wiseclerk on Jun 4, 2017 20:58:00 GMT
geoffrey German investors tested the other direction and there are issues as the transfers received at the UK marketplaces do not seem to come from the individual, personal Transferwise account but rather from a koint account transferwise (UK) is using for outgoing transfers. See discussion and description of issue here: Discussion
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