Spend like a local both in the UK as well as in your travels in Europe with a euro bank account in the UK.
In this global world, having access to just one particular currency isn’t enough. Whether it’s for travel expenses, bill payments, international transfers, or online shopping we often need to juggle between different currencies and incurring hefty fees.
This is particularly troublesome for people living in the UK, especially in the aftermath of the BREXIT referendum. Their main currency has always been pound sterling, but now, it can get a bit trickier to pay in euros. Thankfully, there are some premium banks that offer the opportunity to open a euro bank account in the UK.
So, let’s find out what you can expect from opening and holding such futuristic bank accounts from below.
Hold Multiple Currencies at the Same Time
If you live in the UK and have a euro bank account, you would have the opportunity to hold all your money in two currencies – euros and pounds under the same account. Having just one account id, password, and other related information, it is sure to make your money management efforts much easier.
Free Withdrawals in Local Currencies
Need some pounds in hand? You can easily withdraw pounds in the UK with your GBP debit card, without paying any fees. The same free-of-charge withdrawal applies for euros in the Eurozone, as long as you use your EUR debit card. So, the next time you travel in the EU, you don’t have to go through the process of currency conversion ever again.
Get Paid and Pay Your Bills Like a Local
If you are an independent contractor, an owner of an online business, or running a cross-border venture you can easily get paid in pounds or euros and hold them without any conversion. So, no more extra costs or additional hassles.
With a dual currency bank account, you can also set up direct debits for all your recurring bills irrespective of whether you are paying in the UK or in Europe. When you set up a direct debit in Europe, it will be paid off in euros just like a local without incurring any conversion fees.
Send Money Instantly and Globally
Whether the recipient lives in the UK or in Europe, you can transfer some money to them instantly, in not more than a few seconds 24 hours a day. Depending on the smart bank of your choosing, you would also be able to make online bank transfers in up to 250 different destinations and in some 20 different currencies all the while enjoying a better rate and lesser fees. So, as you can see, having a euro bank account in the UK can be the best decision you have made for your money in a long time. It would not only save you some money and ensure mental peace but also get you ready as a global citizen.