What is most efficient way to receive EUR payments?

[psychocandy]

Was told in HSBC chat that:

1. Paying euros into sterling account will cost an arm and a leg. - flat £8 given sender pays payment charges (I suppose they do).
2. Transferring from euro to sterling account for same bank will still be a crap rate. - she said no fee and market rate but couldn't tell what was the current one for today to compare. If you send an international payment you see it on screen, active for a few minutes to acccept .. that one was far from "market" as I remember.

Not just the fees its the rate. Of course, they;re going to say market rate they're not going to say crap rate. It will be crap believe me. Just compare to currencyfair and work out if its worth the hassle.

[Lumiere]

Just compare to currencyfair and work out if its worth the hassle.

That's what I wanted to do, but they wouldn't give me today's date to compare, saying it is dynamic.

Trying to decide whether opening the EUR account is worth the hassle for a couple of months' worth of invoices.

Any idea on VAT ? As I understand you don't put VAT in invoices if working on-site in Europe. I am quite happy with this as there are no extra exchange rate losses and you are not being punished for being on the flat rate. But being one week there one week here is slightly different perhaps ?

[AtW]

Be aware:-
1. Paying euros into sterling account will cost an arm and a leg.
2. Transferring from euro to sterling account for same bank will still be a crap rate.

Use bank's trading desk to get good rates...

[garnet]

Ask (any) bank I they can open a EUR account with a debit card attached to it. Best a master card debit card.
In this case when you use your card (except for ATM withdrawals perhaps) it will be the MC exchange rate which is excellent.

[northernladuk]

Ask (any) bank I they can open a EUR account with a debit card attached to it. Best a master card debit card.
In this case when you use your card (except for ATM withdrawals perhaps) it will be the MC exchange rate which is excellent.

Business account?

[stek]

That's what I wanted to do, but they wouldn't give me today's date to compare, saying it is dynamic.

Trying to decide whether opening the EUR account is worth the hassle for a couple of months' worth of invoices.

Any idea on VAT ? As I understand you don't put VAT in invoices if working on-site in Europe. I am quite happy with this as there are no extra exchange rate losses and you are not being punished for being on the flat rate. But being one week there one week here is slightly different perhaps ?

You need to register for EC Sales List on Government Gateway, include no VAT and put the agents VAT number on the invoice.

Note that the EC list quarters run Jan-Mar etc, which might stagger with your normal VAT returns.

[Lumiere]

You need to register for EC Sales List on Government Gateway, include no VAT and put the agents VAT number on the invoice.

Note that the EC list quarters run Jan-Mar etc, which might stagger with your normal VAT returns.

My normal VAT returns period is the same. So for work done now I will have to send ECL in the period of 1-14 July, as I understand.

[FrontEnder]

Ask (any) bank I they can open a EUR account with a debit card attached to it. Best a master card debit card.
In this case when you use your card (except for ATM withdrawals perhaps) it will be the MC exchange rate which is excellent.

I highly doubt there is a UK product out there where you can do this.