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Euro bank account but based in UK - sufficient?

Re: Euro bank account but based in UK - sufficient?

Postby Gigi Hardy » Thu Jun 21, 2018 8:32 am

Hi please can you tell me the name of the Uk bank, a Uk euro account sounds like a good option.
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Re: Euro bank account but based in UK - sufficient?

Postby margo » Thu Jun 21, 2018 10:14 am

Hi PGA. Can you also PM me just about to change banks. Thanks
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Re: Euro bank account but based in UK - sufficient?

Postby daz » Thu Jun 21, 2018 10:16 am

I would be surprised if your uk euro bank was cheaper to exchange and send money here, uk banks generally make a tidy sum from supposedly offering fee free payments but then subtly give you below the market rates. No one has to have an expensive sabadell account, look around, I have a Santander ZERO account, just like a uk bank, no fees for majority of transactions. And no, it is not the same bank, runs separately. Check yourself to see if it suits you. Also transfer wise is one of the few that don’t charge much to send money over, approx £3 for a couple of thousand. Anyway, don’t take my word for it, check it all out yourself, I’d be surprised if your uk Euro bank was cheaper overall. But, if on the off chance you find a cheaper way, please let me know, like you, I want the cheapest way too. Good luck.
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Re: Euro bank account but based in UK - sufficient?

Postby PGA » Thu Jun 21, 2018 10:31 am

Rather than private messaging each of you and seeing as I don't have any reason to be clandestine on such matters, the bank in question is Cater Allen.

I don't profess to know if its better/worse/same as the alternatives on offer and hence the reason for my initial post. Indeed, quite the opposite in that I bow to your greater knowledge so if anyone has a look across their offerings and can tell me its deeply flawed for payment of bills and living costs in Spain for whatever reasons, please shout! For now it simply seemed a useful way from within the UK to start amassing my own account with Euros towards my house purchase pot, whilst running a Sterling account alongside it with the same bank.

If, however, the rate to move monies from the Sterling Account to the Euro account are below those attainable by other means, its clearly not the easy solution I had hoped for. Out of interest, if that were to be the case, I assume I would in fact be better off paying from the Cater Allen Sterling account to Transferwise and then from Transferwise back to my Cater Allen Euro account - which seems utterly absurd.
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Re: Euro bank account but based in UK - sufficient?

Postby PGA » Thu Jun 21, 2018 10:33 am

Accounts displayed down the left hand side - including the Euro one which interlinks when you open up your private webpage log in

https://www.caterallen.co.uk/current-accounts
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Re: Euro bank account but based in UK - sufficient?

Postby PGA » Thu Jun 21, 2018 10:34 am

Oh, and CA are a subsidiary of Santander these days.
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Re: Euro bank account but based in UK - sufficient?

Postby stedy1 » Thu Jun 21, 2018 11:02 am

I have been using Currencies Direct since February of this year to transfer money from my Lloyds account in England to Sabadell bank to pay my rent for my place in Torrevieja


There is no charge at all, by Curencies Direct, Lloyds or Sabadell


I don't have a Spanish bank account
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Re: Euro bank account but based in UK - sufficient?

Postby shemarg » Thu Jun 21, 2018 11:17 am

Quite right there is no charge with currencies direct but I’ve always found Transferwise a better option and sometimes xendandpay. Both charge a small fee for the transfer but their exchange rate is better so usually works out better
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Re: Euro bank account but based in UK - sufficient?

Postby daz » Thu Jun 21, 2018 8:31 pm

PGA wrote:If, however, the rate to move monies from the Sterling Account to the Euro account are below those attainable by other means, its clearly not the easy solution I had hoped for. Out of interest, if that were to be the case, I assume I would in fact be better off paying from the Cater Allen Sterling account to Transferwise and then from Transferwise back to my Cater Allen Euro account - which seems utterly absurd.


this is the point I was referring to in my previous entry, with any transfer of funds from sterling to euro here has to be an exchange rate, even though in your case its within the same bank. like you say, it is absurd to think this merry go round option is better off when compared to your euro bank. but it might be! lol. so can I ask, for comparison, what do you get charged to send any given particular amount or sterling to the euro side?
for example, say you or someone sends £1000 sterling over to euros. hopefully you can reply with the exchange rate you get, and then the total euros you receive, and then any obvious fees you are aware of. between that info, will hopefully give the true cost of your transfer. we would then get a better idea of whether your bank, is better than some of our other exchangers.
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Re: Euro bank account but based in UK - sufficient?

Postby Babycham » Sat Aug 11, 2018 6:34 am

PGA can you also PM me please the name of the Euro bank you can run from U.K. Please
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