Euro Bank Accounts Which One?

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
25/11/2011 12:15

I need to open a euro bank account which has debit card facilities. I need to be able to take out/pay in euro . It can be either registered here in the TRNC or in the UK.

My off shore bank offers them but since being taken over by Lloyds they charge for international accounts, so i would prefer one that doesn't charge me for having the account.

I tried once in the south but when it got to the point of address they refused because of it being in the north.

Please i would like to here your experiences, the good, the bad and the ugly.

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
25/11/2011 14:44

I am not an expert in the field but...



You could try Ulster Bank which is a Brirish subsidiary of Royal Bank of Scotland. They operate accounts in Sterling and Euro with all the normal range of services such as debit and credit cards.



I have withdrawn Euro from ATMs in the TRNC and have still been charged 'foreign currency' fees. So you may not be able to avoid the nasty bank charges whatever you do.



DD

tonykyte


Joined: 19/04/2008
Posts: 270

Message Posted:
25/11/2011 16:08

Try TEB bank (almost next to Mr Pound in Girne) they offer TRY, GBP, Euro and other options. Speak to Sechil she will advise you.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
26/11/2011 13:20

Thanks guys i will look at both options.

The Bank of Scotland is who i was with offshore but they sold me out to Lloyds , who charge for the pleasure of an international account. I was happy with the Bank of Scotland but i am not so impressed with Lloyds and i am thinking about closing that account. so reluctant to talk a new euro one with them.

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
26/11/2011 13:44

Re: Msg 1,

Try Raiffeisen Bank, we've been banking with them in the past, they are very good for Euro accounts.

They also have branches in RoC.

AndyR



Joined: 23/04/2009
Posts: 317

Message Posted:
27/11/2011 10:46

An alternative is as follows .....

Open any normal UK based bank account that has online banking. Then open a Fairfx account and take out a go-anywhere card and a Euro card. That way you get all the normal banking services in Sterling and simply transfer cash to your go anywhere card for use in TRNC or Euro card for use in ROC.

I've done this myself and it's very effective. You get a much better rate when buying Euros and other currencies this way than you do using a debit card from a UK based account when you're abroad.

http://www.fairfx.com/

There are other currency cards available and site such as moneysupermarket.com give good comparitive advice.

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
27/11/2011 10:48

William Msg 1 - Why not ask HSBC? Either UK or Girne. They will let you run TL and GBP, USD accounts so might have Euro too.

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
27/11/2011 11:07

AndyR: What do you do about cash needs in TRNC. Can you take out cash using one of those cards at ATMs?

AndyR



Joined: 23/04/2009
Posts: 317

Message Posted:
27/11/2011 11:10

Msg 8, Brother

Yes, The 'go anywhere' card works in any ATM and I've used mine regularly in the TRNC. The major benefit is that you get more local currency for your £ than you would using a UK banks debit card. You can load the go anywhere card online in a few seconds or even by text from your mobile phone.

AndyR



Joined: 23/04/2009
Posts: 317

Message Posted:
27/11/2011 11:11

I should also say that these cards are prepaid Mastercards in effect, so can be used to pay for goods in any shop as well as for taking cash out at an ATM.

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
27/11/2011 11:43

I use HSBC here with no problems.

Others say they have had problems.

At the end of the day ALL banks can be a problem, hence the mess the world is in

economically.

So, go for one locally that provides what you need, and don't keep too much

money in it!

Geoff

brother



Joined: 29/01/2010
Posts: 446

Message Posted:
27/11/2011 14:03

aha! Got it.

Cyprusquest


Joined: 09/12/2008
Posts: 428

Message Posted:
27/11/2011 18:16

Andy msg 6+10 Paul Lewis moneybox was asked about the Thomas Cook prepaid Credit Card and did not know (at that time) if the deposited funds were secure if TC went down.

Moral only have on what you need/can afford to lose.

AndyR



Joined: 23/04/2009
Posts: 317

Message Posted:
27/11/2011 19:52

msg 13, Cyprusquest

I agree. I only load my card(s) with money the day I'm travelling and then only a couple of hundredd pounds. As my trip progresses I top up the relevant card by text from my mobile as i need to.

Interestingly, it was on http://moneysavingexpert.com that I came across the fairfx card.