Opening a EURO Business Bank Account

[jjscruff]

I receive funds in Euros and have had a problem with my current spanish EUR bank account

I can no longer use it and i have payments i need to receive

I need a Euro business bank account and fast

Anyone know of quickest way of getting one set up?

I was thinking of hopping on eurostar

 

[MikeJ]

Most UK banks will open a Euro account for you. We have one with RBS.

 

[jjscruff]

They will, but these are still foreign EUR accounts, so payments to the banks in EUR is classified as international and subject to high charges.

Particularly with amazon, they charge a big fee to use an account like this

 

[dantheman50_98]

I'm interested to know too...having all Euro payments into my moneycorp account is far from ideal.

 

[MikeJ]

They will, but these are still foreign EUR accounts, so payments to the banks in EUR is classified as international and subject to high charges.

Particularly with amazon, they charge a big fee to use an account like this

I've not checked, but I don't think our Euro account is charged any different to our Sterling account. We tend to deal in larger payments, so small one-off charges aren't really significant for us (as opposed to numerous smaller value payments)

 

[jjscruff]

I've not checked, but I don't think our Euro account is charged any different to our Sterling account. We tend to deal in larger payments, so small one-off charges aren't really significant for us (as opposed to numerous smaller value payments)

Ill be using it for amazon payments and this what amazon say on receiving their payments in a UK based euro account

"I don't have details of what the conversion rates will be. As your Euro payments are going to be paid to a bank in the UK the Euro payment in amazon.fr for example will be converted to Pounds in your seller account and then converted back to Euros when the transfer is being made within your bank.
We use a proprietary rate for exchange rates, which is competitive with the market, but is not in line with exchange rates you may find online.

I hope this makes sense."

 

[MikeJ]

Ah, I see. It's Amazon being idiots.

 

[jjscruff]

Ah, I see. It's Amazon being idiots.

yeah they take 4% if they need to do a currency conversion!

 

[HankMcSpank]

Just open a world first euro account...your amazon euro deposits go into there & then whenever you'e ready you convert your euros to sterling.

 

[jjscruff]

Just open a world first euro account...your amazon euro deposits go into there & then whenever you'e ready you convert your euros to sterling.

World first still take 2%

Thats a big charge every month

best i've found so far is currencies direct who do the same thing and charge 1.4%

But thats still an awful lot of money

 

[WUBS]

Hi JJScruff

Please check your inbox I have sent you a PM regarding this.

Kind regards
Callum

 

[jjscruff]

Solved this problem myself. In case anyone else is interested the answer is Pay With Fire

www.paywithfire.com

They provide a EU bank account for you for free. You can deposit money for no charge and send to a currency broker for £1

 

[Pish_Pash]

Solved this problem myself. In case anyone else is interested the answer is Pay With Fire

www.paywithfire.com

They provide a EU bank account for you for free. You can deposit money for no charge and send to a currency broker for £1

I don't get a warm cosy feel about that website at all.....an Irish limited company that isn't a bank holding my money .... oh dear - 'pants'onfire methinks.

 

[jjscruff]

They are regulated by a bank. They save me thousands a year. I'm pretty comfortable with that

 

[Pish_Pash]

They are regulated by a bank. They save me thousands a year. I'm pretty comfortable with that

I'm comfortable with saving thousands, but not with their arrangements. You say they're regulated by a bank, what does that entail

Bank: "Hey, you shouldn't be doing it like that, we wouldn't, but we can't stop you".

I'm regulated by my bank...i.e. if I go overdrawn, they regulate me. You can say anything with words!

They haven't exactly gone large with their address (nothing on the contact page), if you squint at the foot of the page, you get...

The Observatory, 7 - 11 Sir John Rogerson’s Quay, Dublin 2, Ireland

type that into google & you get another different named company registered for that same address (Realex Payments)....

http://tinyurl.com/zw3xp9u

Are they desk sharing?