ROI Gig (100% remote) want to pay in Euros

[dsc]

Sterling Bank, Business Account and add a Euro account for £2 a month I think and you're done.

[Wobblyheed]

They can pay direct into your UK GBP account using an IBAN account number and therefore the only hassle is the exchange rate will fluctuate slightly. You don't need to necessarily setup a special account.

This is what I did. Not a problem, invoiced in Euros paid in Euros but appears in Company Bank Account in GBP.

[eek]

This is what I did. Not a problem, invoiced in Euros paid in Euros but appears in Company Bank Account in GBP.

Which is fine until you see the hidden fees via the terrible exchange rates used for that implied currency transfer.

[NotAllThere]

Which is fine until you see the hidden fees via the terrible exchange rates used for that implied currency transfer.

This. It's really no bother to set up an account with a forex company and save a significant amount of money on fees and rates.

[Wobblyheed]

Which is fine until you see the hidden fees via the terrible exchange rates used for that implied currency transfer.

Metro Bank seems reasonable to me

[eek]

Metro Bank seems reasonable to me

They may be but after Lloyds charged me 5% on a transaction years ago (compared to the mastercard exchange rate on the time) my viewpoint has been don't make assumptions that the rate will be sane.

The thing here is that the new banks play fair when it comes to overseas transactions, older banks often don't so you need to go in with yours eyes up and check. Which is why I've continually said check and use someone else rather than don't worry about it my bank was OK.

[TheCyclingProgrammer]

They can pay direct into your UK GBP account using an IBAN account number and therefore the only hassle is the exchange rate will fluctuate slightly. You don't need to necessarily setup a special account.

Not all accounts allow multi-currency transactions. Starling Business accounts don't, for example. You need to pay a subscription for a dedicated Euro or USD account. I opened a USD account for £5/month while I was working with a US client.

[Noiro]

They can pay direct into your UK GBP account using an IBAN account number and therefore the only hassle is the exchange rate will fluctuate slightly. You don't need to necessarily setup a special account.

I did this, then six months later realised a) Cater Allen's rate + fees was extortionate, and b) Sterling was slowly dropping. Together they made a significant dent in my income. Setting up a Wise account or similar means you can hold that cash and transfer to GBP at the best rates. I've done recent contracts paying Euro and Swiss Francs and have no issue working like that, but not being smart on how the exchange is done is literally throwing money down the drain.

Definitely worth reading up on IR35 rules for non-UK companies. It still applies (or rather - is still enforceable) if the end client has a UK division so don't assume you can argue 'outside' just because they're off-shore.