Paid in Euros

[jlo1983]

HSBC current account (Euro) and GBP account. Transfer to GBP account when exchange rate is good (to avoid fluctuations).
However I do this with Transferwise.com to avoid high exchange rates HSBC/banks charge. Works very well and they only take a small fee.
Anyone else use Transferwise or similar. Only downside is they sometimes refund a small deposit for each transaction - may be confusing for accountant at end year???

[d000hg]

HSBC are who I have my USD account with for £3 a month; they also do a Euro account. Would recommend, their online banking is good and unlike other banks, you can actually view your foreign currency account and move money in/out of it online - other banks require you to do everything by phone so it's worth checking that out.

I probably wouldn't bother changing banks for one €-paying client though, you've got to convert it to £ eventually anyway.

[ribble]

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

[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

[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.

[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

[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.

[stek]

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

[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.

[Craig@Clarity]

Cater Allen do a Euro Account.

[Magic]

High street bank

[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?