MoneyMagpie

Feb 01

Top 5 Euro currency accounts

Looking for a euro currency account but not sure which one to choose? Fear not – here at MoneyMagpie we’ve compiled a list of the top five euro currency accounts so you can pick the one that’s most convenient for you.

You might wonder if it’s even worth having a euro account, given what’s happened in Cyprus. However, it can be useful to have – just make sure that whichever one you go for, you don’t have any more than €100,000 in it at any one time so that it’s covered if the bank fails.

 

Who should have a euro currency account?

Do you travel around Europe often or transfer money to friends or relatives in the Eurozone? If the answer is yes to any of the questions you should have a euro currency account for easy banking, convenience and most importantly to save you time and money. Opening a euro currency account will allow you to receive and make payments in the Euro and transfer your money with ease.

 

Best for business

barclays_bank_safeBarclays Currency Current Accounts 

  • Offer both euros and international currency accounts in a range of currencies
  • Currencies: euros, US dollars, rupees, yen
  • Able to conduct business in a foreign currency as easy as in pound sterling
  • Settle transactions in euros on the same day
  • Write cheques in your account’s currency

 

Best for convenience

PrintCitibank Plus – Euro Current Account

  • Accounts linked to just one card
  • No monthly fee
  • Access to three currencies
  • You can purchase and withdraw cash overseas in euros without worrying about charges on foreign currency purchases and fluctuating exchange rates
  • Charges may apply to cash withdrawals made on your card in foreign currencies

 

Best for those who travel often

coopCo-op – Euro Currency Account

  • Must have operational current account for six months 
  • Can open a currency account in euros and 13 other currencies
  • Transfers between currency accounts and pound sterling accounts = £6
  • Maintenance fee = £20 per ½ year (April – October)

 

Best for everyday banking

hsbc-paypal-recargar-saldoHSBC – International Personal Current Account

  • Manage your foreign currency quickly and conveniently
  • Monthly fee of £5 (or currency equivalent)
  • No minimum balance
  • 24-hour automated service
  • Choose from a range of currencies

 

Best for transferring money

lloyds_203x150Lloyds TSB – Premier International Account

  • Free on balances over €2,500
  • Free international transfers – send and receive money internationally for free
  • 24/7 worldwide access to your money
  • Account holders only
  • Recipient and corresponding banks abroad may charge a fee for receiving payments
  • Manage your money in pounds, euros and US dollars

 

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WHAT DO YOU THINK?

7 thoughts on Top 5 Euro currency accounts

  1. Santander only offers its Gold Account – offshore based in Jersey
    It seems to be a choice between Barclays and HSBC

    Reply
      1. The original article referred to monthly charges, but now neither HSBC nor Barclays levy these (or they are easily avoided by keeping a small balance in the account).

        Reply
  2. Hi Jasmine,

    Is there a more up to date version of this article, as I am currently trying to find the best Euro current account and have been looking for the Citibank Plus account but the only option Citibank seems to give is the Citibank Gold account which is very expensive.

    Many thanks
    Jess

    Reply
    1. Thanks for pointing that out Jessica. I’ll get one of our team to update this.

      Just for info, PayPal does a Euro element which can be handy. I think it’s also worth looking into Santander as they are Spanish, but I haven’t looked recently so I’m not sure what their offering is like.

      Reply
  3. Hi Jasmine,

    I can’t seem to find this free Citi bank Euro account. Maybe they’ve added fees to it now.

    Thanks
    Richard

    Reply
    1. Well they say “The accounts are free of charge if you hold a Citi Plus or Citigold Current Account in Sterling, or your foreign currency account holds an average monthly balance of £2,000 (in foreign currency equivalent) or more. If you don’t meet these criteria, a monthly fee of £5 per account will apply.”

      Reply

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