Paid in Euros

[Hiram King Of Tyre]

I'm about to start a new gig. Although it's based in the UK, I will be paid in Euros. Has anybody got any bright ideas where I can get a Euro account? Any recommendations?

[Magic]

High street bank

[Craig@Clarity]

Cater Allen do a Euro Account.

[northernladuk]

Psychocandy knows a lot about this and there has been a couple of people asking exactly the same question recently.

You could try a search to see what they decided to do.

[stek]

Don't bother - just take the hit - u'll have to somewhere down the line.

[jamesbrown]

Don't bother - just take the hit - u'll have to somewhere down the line.

Yeah, I'd have to agree with this unless it's a long contract. You won't save anything by opening a Euro account unless you also open an intermediate FX account to reduce the margins on the eventual exchange. The only way to make a saving is to reduce the exchange margin somewhere, or to spend the money in Euros. Bear in mind that your bank may stiff you with fees for transfers out of your Euro account. Just not worth the hassle unless it's a long-term gig IMHO.

[Martin at NixonWilliams]

It may be better to take the hit but it is sometimes a requirement to have a Euro account in order to be paid. It is worth checking what each bank are charging. It is inevitable that you will be charged for receiving the payment but some banks also have a fixed monthly charge.

My advice would be to minimise activity in the account as much as possible due to the charges and the accounting complications. The majority of our clients simply use it to receive payment and then transfer the money to a sterling account at a time that suits them, which is usually at a time where the money is needed or when the exchange rate becomes favorable. If the account is used to pay salary, expenses etc. things get a little more complicated!

I hope this helps.

Martin

[PEEL]

I have heard that Citibank are good at stuff like this, although I am unsure what the criteria are (perhaps look on their website). They have a branch at Canary Wharf for sure.

[The Spartan]

Psychocandy knows a lot about this and there has been a couple of people asking exactly the same question recently.

You could try a search to see what they decided to do.

Lol I never ever thought I'd hear you say that about PC

[ribble]

Euro account (citi or likewise) - then Transfer Money Online | Send Money Abroad with TransferWise to bring back.