Caroline Posted April 18, 2012 Share Posted April 18, 2012 This is kind of motorhome related…as we are travelling more and more across Europe we are thinking of opening a Euro Bank account. Has anyone done this from the UK. I am hoping that having one will stop the problems encountered filling up from an unmanned pump as we do with our prepaid. (?) Link to comment Share on other sites More sharing options...
Retread24800 Posted April 18, 2012 Share Posted April 18, 2012 Try here, Credit-Agricole Link to comment Share on other sites More sharing options...
vindiboy Posted April 18, 2012 Share Posted April 18, 2012 I don't think it worth the bother unless you are dealing in loads of dosh, we have no trouble at all with our Visa Debit card or Mastercard from the Post Office, [ No charges for European purchases ] Mastercard,] and have been able to get fuel at all times. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted April 18, 2012 Share Posted April 18, 2012 unless living full time I agree dont see it as being necessary....Most places take UK cards these days....Fit a safe and bring a lump of cash :-D Link to comment Share on other sites More sharing options...
Caroline Posted April 18, 2012 Author Share Posted April 18, 2012 The point of a Euro account was that I would not have to face a bill monthly (credit card) I could pay in to it when the rate of exchange was good and i would not get charged with commission or exchange rates every time i used it. It would also if stolen not give access to all my funds. Which is why, at the moment we use a prepaid card with internet top up if required. I do have a Credit card but that is for security in extreme circumstances, buying emergency flights home extra. Well that is my theory, i am happy to hear other points of view. Link to comment Share on other sites More sharing options...
Randonneur Posted April 18, 2012 Share Posted April 18, 2012 The problem you are going to have is that when you want to transfer funds into your Euro account you will be charged a transfer fee. The only way round this is to put Euros cash into the account 't when in Europe, can't see the sense in that unless you don't want to carry cash. There are better way of doing things. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted April 18, 2012 Share Posted April 18, 2012 and both bank will charge fees, plus rates normally much worse then even Visa rates *-) Link to comment Share on other sites More sharing options...
Shaun Posted April 18, 2012 Share Posted April 18, 2012 I have a euro account with Credit Agricole; it goes back to when I had a house in France, whereby it was pretty much essential. Now it's something of a mixed blessing, as I find dealing with French red tape a right pain. I use Britline, which has numerous English people working for the bank, who live in Normandy and who handle the accounts of UK residents. Even they acknowledge that French Bureacracy is frustrating at times, as it's slow and pedantic and the banks never seem to admit their own errors, but will throw the full weight of the law behind any move they wish to make against account holders. Suffice to say I've had more hassle with my French bank that I've ever had with English banks. Which begs the question, why keep the account open? Firstly, it's not free, but it is cheap. I have to watch out for a fifty quid or so charge each year if I don't have any transactions on the account, and nearly got hit with that one. I got round it by taking out one of the bank's debit cards for a fee of about six euros a year. That keeps all other account-running charges at bay and the card can be used as you would any other debit card whilst in France. I used to feed my French account with a sterling to euro transfer when the exchange rate hit 1.5 euros to the pound. That was actually the norm for a quite a few years, but it's been nowhere near that for many years now. It does mean that even now when I buy anything with my French debit card, I'm enjoying the much higher exchange rate from years ago, so it's a good theory to feed the account whenever the exchange rate is high. However, you're still gambling, as you have no idea whether it would have been higher further down the line. I've also bought goods from a European store whereby the price in sterling was daft in relation to the comparable euro price, so I was able to do a bank to bank transfer in euros, which was useful. What else? The French can sometimes be suspicious of UK cards and I recall situations where I was unable to pay at a supermarket with a standard Visa or Mastercard, as the payment machine simply would not accept it. I've no idea if this nonsense persists anywhere, but having a French card gives me confidence that no transaction will be refused. All in all, I'm still only lukewarm to the prospect of keeping the French account open, but when I wanted to close it, the bank were anxious that I didn't and went out of their way to help me with a problem I was having with the local Town Hall people, who were erroneously chasing me for the equivalent of council tax, even though I'd flogged the house in question years earlier. Because my French wasn't strong enough to sort things out, the bank took control and a few euro cheques came my way from the town hall, which was a real blessing (not least as I needed the French bank to pay them into). So I guess I have a bit of loyalty which they've bought, so I'll keep the account open for now. Shaun Link to comment Share on other sites More sharing options...
elamessa Posted April 18, 2012 Share Posted April 18, 2012 JudgeMental - 2012-04-18 5:43 PM and both bank will charge fees, plus rates normally much worse then even Visa rates *-) Not if you use Currency Fair they wont. Just a €3 charge and rates are excellent. :-> Link to comment Share on other sites More sharing options...
Keith T Posted April 18, 2012 Share Posted April 18, 2012 I think I am write in thinking that to have an account with a French Bank you have to have an address/ live over there. We opened a Euro Account in the UK when the Euro was first introduced. It's with Cater Allen Bank (then part of Abbey National- now presumably part of Santader Bank). The facilities provided are basically a Visa Debit Card, against which there are no charges whether used in an ATM in Euro-land, or as a card for purchases there. Initially I seem to recall they required funding of €10000, but after that there is no min balance, and I topup as and when required by sending a UK£ cheque drawn on my ornidanry Uk Bank Account. The rate i get is far prefereable to the standard tourist rate, a sort of semi-commercial rate. this gives you the opportunity to decide how much/when you want to top up,. and there is no fee payable when topping up this way. It's up to you when you do so, but your would - like me- try to hazard a guess at the likely way teh Euro is going. There customer servise is second to none, and a real live person always answers the phone, and seems to have an absolute found of knowledge and information and has nevre in somw 10 yrs failed to answer my enquiry! I alwasy call them in advance of any overseas holiday so that there is no problem in using the card there - this is something recommended with any Bank Card PM me if I can help further. Link to comment Share on other sites More sharing options...
Retread24800 Posted April 18, 2012 Share Posted April 18, 2012 Keith T - 2012-04-18 8:31 PMI think I am write in thinking that to have an account with a French Bank you have to have an address/ live over there. No you are wrong, you must have a permanent address, say in the UK, and be a French home owner or be a regular holiday maker to France, my earlier link to Credit-Agricole Brit-line would have explained this to you. They have English speaking staff on Brit-line and I find now after moving here that many employees have a level of English sufficient to manage my day to day needs in the local branches. Personally I use my HSBC a/c in the UK to top up my C/A a/c the sole charge is £9.00 per transaction so I keep them to a minimum! Link to comment Share on other sites More sharing options...
Caroline Posted April 19, 2012 Author Share Posted April 19, 2012 Thanks everyone for your comments will have a further investigation in to Credit-Agricole Brit-line, that was a brilliant link Retreat 24800. B-) Link to comment Share on other sites More sharing options...
Retread24800 Posted April 19, 2012 Share Posted April 19, 2012 Caroline - 2012-04-19 1:51 PMThanks everyone for your comments will have a further investigation in to Credit-Agricole Brit-line, that was a brilliant link Retreat 24800. B-) Any time, if you have any problems PM me, it helps living here! Link to comment Share on other sites More sharing options...
JamesFrance Posted April 19, 2012 Share Posted April 19, 2012 elamessa - 2012-04-18 6:10 PM JudgeMental - 2012-04-18 5:43 PM and both bank will charge fees, plus rates normally much worse then even Visa rates *-) Not if you use Currency Fair they wont. Just a €3 charge and rates are excellent. :-> Many thanks for this one, I have been looking for a better rate for transfers for some time and am giving it a try. I have used Moneybookers before as well as currency brokers, but they are expensive for small amounts. I reckon this will save about 2% of the amount transferred. Link to comment Share on other sites More sharing options...
barrie w Posted April 19, 2012 Share Posted April 19, 2012 Bonsoir. We have an account with Credit Agricole Britlne. We opened it when we had problems obtaining fuel in France.One of the attractions was that we could pay into the account with no charges by buying travellers cheques in UK & posting them to France made payable to our name. worked very well. As far as I know it's still a transfer method. We still have it for paying direct debits etc. A normal UK visa card has worked for us without problems for at least the last 5 years. Amitie Barrie Link to comment Share on other sites More sharing options...
Patricia Posted April 19, 2012 Share Posted April 19, 2012 Currency Fair sounds very good if there actual rate is as quoted so I might well give them a try next time. I have been using HIFX but their transfer rates are much lower than the quoted daily rate and they charge £9 per transfer now. The last transfer I made I used Lloyds Bank, very easy to set up, arrived in French bank the next day, £10 charge and no charge by the French Bank, Credit Agricole Centre France. Lloyds rate was about the same as HIFX. I have never thought of buying Travellers Cheques and sending them but I would not have thought the exchange rate would be very advantageous. I used to use Fidelity but I think you have to deposit a large sum now to open an account. Link to comment Share on other sites More sharing options...
elamessa Posted April 20, 2012 Share Posted April 20, 2012 JamesFrance - 2012-04-19 5:14 PM elamessa - 2012-04-18 6:10 PM JudgeMental - 2012-04-18 5:43 PM and both bank will charge fees, plus rates normally much worse then even Visa rates *-) Not if you use Currency Fair they wont. Just a €3 charge and rates are excellent. :-> Many thanks for this one, I have been looking for a better rate for transfers for some time and am giving it a try. I have used Moneybookers before as well as currency brokers, but they are expensive for small amounts. I reckon this will save about 2% of the amount transferred. You are welcome. Also with Currency Fair you dont have to take the rate they offer (currently 1.212) you can wait until you are offered a better exchange. It's all explained on their website. Link to comment Share on other sites More sharing options...
Caroline Posted April 20, 2012 Author Share Posted April 20, 2012 Not as easy as i thought, going to have to do research, not requiured yet...but with the transfer fees ect.. does it work out better to have an account or stick with the prepaid and time your visits to the fuel pumps better. Our prepaid has always worked fine and we hold emergency cash to cover a tank full. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted April 20, 2012 Share Posted April 20, 2012 JamesFrance - 2012-04-19 4:14 PM elamessa - 2012-04-18 6:10 PM JudgeMental - 2012-04-18 5:43 PM and both bank will charge fees, plus rates normally much worse then even Visa rates *-) Not if you use Currency Fair they wont. Just a €3 charge and rates are excellent. :-> Many thanks for this one, I have been looking for a better rate for transfers for some time and am giving it a try. I have used Moneybookers before as well as currency brokers, but they are expensive for small amounts. I reckon this will save about 2% of the amount transferred. but most of these money transfer outfits like moneycorp etc...there are many. Your funds are not protected under banking or FSA rules Link to comment Share on other sites More sharing options...
elamessa Posted April 20, 2012 Share Posted April 20, 2012 Caroline - 2012-04-20 2:25 PM Not as easy as i thought, going to have to do research, not requiured yet...but with the transfer fees ect.. does it work out better to have an account or stick with the prepaid and time your visits to the fuel pumps better. Our prepaid has always worked fine and we hold emergency cash to cover a tank full. Sorry can't help you with that one. As I live in France permanently I have a French bank account as well as a UK account. Link to comment Share on other sites More sharing options...
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