Non resident banking in euros

Opening a UK non resident bank account in euros

The euro is now established in most of continental Europe's major economies, so euro bank accounts for business or personal use can form a vital part of your finances.

Some people mourn the passing of deutsche marks and French francs, but the euro has rapidly become a tradable currency around the world. Alongside other industries, European banking is already reaping the benefit of reduced foreign exchange costs.

Doing business in the euro zone you will want the option of making and receiving payments in euros for that reason. Also, not banking in euros could place you at a competitive disadvantage with others who already benefit from such efficiencies.

As a UK resident non-domiciled, having a euro account means you can both receive and make payments in that currency, without having to pay foreign exchange costs or worry about currency fluctuations. Apart that is, from any tax concerns, however we can introduce you to our preferred tax advice partner, the international financial services firm, Ernst & Young.

Also, if your home country uses euros, a euro account enables you to perform transactions such as paying bills or sending money home quickly and easily.

Apply for a Barclays international bank account before you move to the UK.

Types of euro bank accounts

We offer euro-denominated current and deposit bank accounts, both onshore and offshore, for both personal and business customers. In each case these accounts can be managed online, by telephone or at a branch.

Each type of account will offer a range of credit or debit card options. Cheque books may be available on request.

Euro banking online

You can have the advantage of an online euro bank account both onshore or offshore. However, you should be aware of the regulations about making electronic payments in euros.

Payments made in euros to banks in any European Union member state and Iceland, Liechtenstein, Norway and Switzerland must include the beneficiary's IBAN (International Bank Account Number) and receiving bank SWIFTBIC (Society for Worldwide Interbank Financial Telecommunication Bank Identifier Code). These details are included on your bank statement.

Euro bank transfers

Having a euro bank account means it is easy to transfer and receive euros. Being able to do this online also means you have the advantage of speed and efficiency. Although the maximum you may send online is the euro equivalent of £50,000, you benefit from a reduction in the standard tariff rate.

Opening a euro bank account

We realise that once you have decided to have a euro bank account you will want it set up quickly. This is particularly the case if, for instance, you are soon to relocate to the UK as a UK resident non-domiciled. So we have simplified the applications procedure. Contact us now so that we can open your euro account as soon as possible.

Apply for a Barclays international bank account before you move to the UK.