Euro accounts launching this week


#22

It’s here, and again ridiculously easy to open…


(Dan Mullen) #23

Either I’m not near the top of the waitlist or it’s iOS only currently. Anyone on Android opened one?


#24

And it’s here, that I’d like to say goodbye to Revout - I hardly knew ye.

I used Revolut last year to send a Euro bank transfer for a holiday home (renting, not buying unlike some wanna-be Frenchmen @l8n.me - Even got a Spice Girls reference in for you :wink: )

I was going to do the same this year, as it was cheaper than Starling.

But now - The rate is identical, and I feel more comfortable with Starling than I do with Revolut.

Huzzah!


(Lawrence Ferguson) #25

Is it on Android? Pfft


(Manda) #26

Just opened one using the android app.


#27

I want one too :frowning:


#28

So all I need how is overdrafts on joint accounts and the incoming Starling credit card and all of my banking requirements are fully taken care of. Starling really are doing an amazing job of late.


#29

So I opened a personal euro account on my business account, which made that a business euro account, not sure that’s how its supposed to work, as it clearly says personal euro account. I wanted it for business use so it suits me better.


(Don't Bullshirt Me, I know what the Fork is going on here!) #30

Business account as in LTD company or Sole Trader account?


#31

Sole Trader, I would not move a Ltd account to Starling personally in its current form.


(Don't Bullshirt Me, I know what the Fork is going on here!) #32

I would imagine that’s why you can get € account. Sole trader accounts are technically just personal accounts with a different name I think.

I have a limited and sole trader account with them. I have no issues with their Ltd account and Xero integration. Only thing I really need is support for multiple PSC’s so I don’t have to give my business partner access to all my accounts on his app


#33

Where do you find the account opening bit? I’m on Android but can’t see the “open EUR account” anywhere. Is it an IE IBAN btw?


#34

It’s a GB IBAN.

Just sent my first EURO transfer - It was perfect (as perfect as it can be…)


#35

Question to those “in the know”.

How long should the payment take to arrive?


(Marcel Ruhf) #36

If it’s sent before 2pm, it can reach the other party the same day I believe.
Later than that, and it’ll reach them the next working day.


#37

Excuse my ignorance, but outside of business, what are the benefits of a Euro account to the average Joe? I holiday and travel a lot, but surely I can just pay using my normal GBP account and it be charged at the exchange rate of the day anyway? Someone enlighten me… :slight_smile:


(sam) #38

Maybe buy when it’s a better rate than in holiday season?


#39

For most people there would be no benefit, especially with Starling as you get the interbank rate when using your card abroad.

However it could come in use to store Euros when the rates are good, and withdraw using your card abroad, or spend using it.


#40

Also…(copied from other forum).

Also a valid point I forgot to mention.

When spending on the Starling Euro account, you do the conversation at the start of your holiday - Say, £1000 = €1100

You then spend in € and don’t worry about when the transaction finally settles in 2-3 days time, or any sudden fluctuations of currency (Brexit related or not).

I should think this would be relatively minor for a family holiday in Europe - But for those who like to budget, and want to know exactly what they are spending, it’s a good way to go.

Obviously the currency fluctuations can also work in your favour, so it’s not always best to convert beforehand - But if it was me, I’d probably do so for sheer peace of mind (especially as it won’t vary much over the course of a week).


#41

Cheers, that was what I was mainly thinking, to convert a chunk and then its done, no worrying about fluctuations. But sometimes I think I over complicate things, holding a separate bank account just to save what could possible be pennies probably falls into that category :rofl: