International Business Banking

[Old Greg]

Currency accounts or something like TransferWise borderless accounts.

I've used Transferwise before (not the borderless account which looks great). and they are very good.

[m0n1k3r]

I would suggest using ING in Brussels (formerly Banque Bruxelles Lambert). You can hold a GBP and Euro accounts, you can call them on +32 2 547 21 11. I would also suggest setting up a sister company in the EU.

Wouldn't you need a company in Belgium in order to open an account with ING in Brussels?

[Paddy]

Hello All

Hope everyone is well.

We use Natwest which we have started using for International Payments. With every non-GBP invoice clearing, we are loosing 2-4% of the invoice value. Considering large invoice, it is a small being very small firm. With each invoice money lost, we can pay 1-2 months of salaries for off-shore employees.

Thanks in advance.
TRP

I would suggest using ING in Brussels (formerly Banque Bruxelles Lambert). You can hold a GBP and Euro accounts, you can call them on +32 2 547 21 11. I would also suggest setting up a sister company in the EU.

A good start is here:
e-Residency Benefits | Digital Nomad, Freelancer, Startup Company

You can PM me if you wish.

[jamesbrown]

Two issues here... firstly the OP has got form so maybe better here...

Secondly... Mods do anything??? Mauahahahahahahahah that's funny.

43662

[northernladuk]

Mods, could you move this to professional?

Two issues here... firstly the OP has got form so maybe better here...

Secondly... Mods do anything??? Mauahahahahahahahah that's funny.

[AtW]

Move it before somebody asks about gladiator movies

[jamesbrown]

Mods, could you move this to professional?

[jamesbrown]

Second a TransferWise Borderless account. The interface is cake to use via the web app or mobile app. All in, the fees amount to something like 0.5%, so much less than a highstreet bank. Obviously, it isn't FSCS protected, so you don't want to keep a large amount of money hanging around in there for months on end. Much better than the competition (who I've also used), such as Revolute.

[TechRiskPartners]

Currency accounts or something like TransferWise borderless accounts.

That is interesting, we use TransferWise business account for sub-contractor payments. I will definitely explore, Thanks

[TechRiskPartners]

You are not losing 2-4% - you are paying for the service.

You are spot on. We didn't think about this too much while choosing the bank account. We have a dormant Stirling, may be we explore it.

Thanks

[TheGreenBastard]

Currency accounts or something like TransferWise borderless accounts.

[AtW]

You are not losing 2-4% - you are paying for the service.

Get currency account to avoid default conversion fees and use other cheaper ways to convert.

Or get your client yo pay you in GBP in the first place if you don’t want to bear currency risks

[TechRiskPartners]

Hello All

Hope everyone is well.

We use Natwest which we have started using for International Payments. With every non-GBP invoice clearing, we are loosing 2-4% of the invoice value. Considering large invoice, it is a small being very small firm. With each invoice money lost, we can pay 1-2 months of salaries for off-shore employees.

Thanks in advance.
TRP