Euro Bank Account (Cater Allen absolutely shocking)

[TheFaQQer]

Why is a company credit card in so much debt that it's got into 0% deals?

If you can borrow money at 0%, why wouldn't you do that? Of course, it needs to be managed carefully, as this thread shows.

[Crocket]

I've switched personal accounts lots of times, no problems.

This is still a nightmare. Your right, I'm going to open a new account with RBS then I'll see if the agent takes TransferWise. As metro bank is 100 miles away and they want me to visit a branch to open the account. Cashplus is £15 per euro transaction however because there is no Euro Account it gets converted at their bank rate.

Thanks for the help thus far.

[VillageContractor]

10 direct debits coming from your company bank account? I have 1.

Why do you have so many?

[Cirrus]

Xmas Spirit: But Kind To All Men: Humbug

If you can borrow money at 0%, why wouldn't you do that?

If you could borrow money at 0% then it would be a good deal.

But of course it is never 0%. They always charge you money under some subterfuge (eg 'transfer fee') and you always take on the risk of something happening. It happened to me once and it happened to Crockie big time by the looks of it.

No - people are only ever on 0% deals because they've run up bills they can't pay. I can't see how that should normally happen to contractor with liquidity sloshing about all over the place in our profession.

I'll wager Crockie has been overspending on fast cars, fast women, Caribbean all-in holidays, buy-to-lets, drugs and prosecco.

I.e. typical contractor

[TheFaQQer]

If you could borrow money at 0% then it would be a good deal.

But of course it is never 0%. They always charge you money under some subterfuge (eg 'transfer fee') and you always take on the risk of something happening. It happened to me once and it happened to Crockie big time by the looks of it.

Most charge for a balance transfer. Most 0% on spending cards do not charge anything extra.

No - people are only ever on 0% deals because they've run up bills they can't pay.

Rubbish.

[m0n1k3r]

I need to get away from Cater Allen ASAP, can you guys recommend a EURO account (approx. 10k eur month) where it's reasonable to transfer money into Sterling?

HSBC tend to be best for non-Sterling business banking. They charge £4 or thereabouts to receive an Euro payment, but on the other hand also allows you to make SEPA payments for £6 whereas other banks charge the full foreign payment fee of £17-£25.

[SueEllen]

If you could borrow money at 0% then it would be a good deal.

But of course it is never 0%. They always charge you money under some subterfuge (eg 'transfer fee') and you always take on the risk of something happening. It happened to me once and it happened to Crockie big time by the looks of it.

No - people are only ever on 0% deals because they've run up bills they can't pay. I can't see how that should normally happen to contractor with liquidity sloshing about all over the place in our profession.

I'll wager Crockie has been overspending on fast cars, fast women, Caribbean all-in holidays, buy-to-lets, drugs and prosecco.

I.e. typical contractor

0% credit card deals are a good idea if you want a short term loan under £5,000 as they are often the cheapest way to get it.

[Crocket]

Besides the point about number of DDs, it could be commercial mortgages, life insurance, pensions as I've advised... plus IPSE then business insurance etc

If someone was a landlord and switched to Cater Allen with like 50 multiple properties and mortgages (because each would be a DD) - good luck!

CurrencyFair can accept payments on behalf of my Ltd (with a business account) then I can convert with them into a standard sterling bank account.

So I think I'm sorted and I don't have to deal with euro account or cater allen anymore.

[Lost It]

I'm with Cater Allen and for what I need it for it's "ok" given that it's free, but it definitely has the feel of being about 20 years behind its time (lots of thick headed paper correspondence, poor online banking relative to other banks, slow payments, no smartphone app). Not surprised they messed up an automatic switch

Sounds like you've had a nightmare, not enough to put me off using them, but maybe enough for me to not recommend them to anyone looking to switch!

I think this is the one that will push me away. They really are shocking. 4 days to transfer fee's is rediculous these days.

[Cirrus]

Rubbish.

Oh Faqqie, who's suffering from self delusion? If she only loves you when you keep giving her yellow diamonds. it's not real. It won't last.

But that Barclaycard debt will