Best euro (EUR) accounts in the UK

Do you travel in Europe a lot, or have friends and family there? Perhaps you’re a freelancer with multiple European clients, or need to send money to European countries on the regular. In all of these circumstances, having a euro account could be very useful indeed.

This kind of account is available in the UK from high street and digital banks, as well as specialist providers. But which is the best euro account in the UK right now? Take a look below for some options to check out, including info on fees and features for each. This should help you compare accounts and choose the right one for your needs.

We’ll also show you a fantastic alternative - the Wise account from the money services provider Wise. It’s not a bank account but an international account that lets you manage your funds in 40+ currencies including EUR.

You can send, receive and convert money at great mid-market exchange rates and low, transparent fees*. Your money is always safeguarded and you’ll also get dedicated support when sending large amount transfers.

Learn more about the Wise account 💰

Table of contents

Best euro (EUR) accounts in the UK Starling Bank Euro Account - Best for all-round use HSBC Currency Account - Best for multi-currency banking Lloyds International Current Account - Best for no transfer fees NatWest Travel Account - Best for travel spending OFX Global Currency Account - Best for eCommerce businesses Barclays Euro Account - Best for existing Barclays customers Metro Bank Foreign Currency Account - Best for in-store banking Revolut EUR Account - Best for app-based banking What is a euro (EUR) account? How does it work? What are the advantages for opening a EUR account? How to open a euro (EUR) account in the UK? Manage your money in euros and other currencies with Wise

Best euro (EUR) accounts in the UK

Let’s dive straight in with an at-a-glance look at some of the best euro (EUR) accounts in the UK right now, including fees:

Account	Account fee	Best for
Starling Bank Euro Account	None¹	All-round use
HSBC Currency Account	None²	Multi-currency banking
Lloyds International Current Account	£7.50 a month³	No transfer fees
NatWest Travel Account	None⁴	Travel spending
OFX Global Currency Account	None⁵	eCommerce businesses
Barclays Euro Account	None	Existing Barclays customers
Metro Bank Foreign Currency Account	€5 to €15 EUR (£4.22 - £12.66 GBP) a month⁸	In-store banking
Revolut EUR Account	£0 to £45 a month¹⁰	App-based banking

Starling Bank Euro Account - Best for all-round use

The Euro Account from Starling Bank lets you send, receive and hold euros for no monthly fees, and no transfer fees either. The only cost to be aware of is a 0.4% mark-up on the current exchange rate if you convert EUR to GBP or vice versa.¹

You can only send SEPA payments (EUR within the EEA region) with this account, so you can’t make SWIFT transfers to other destinations.¹

It’s a full app-managed current account with an IBAN and FSCS protection, and you can use a single Starling debit card to pay in either EUR or GBP. You’ll just need to adjust the settings in the app to choose which balance the card uses.¹

The account is for personal customers, and you don’t need to open a GBP current account with the digital bank first.

HSBC Currency Account - Best for multi-currency banking

With the HSBC Currency Account, you open an account in one of 14 major currencies, including EUR. This makes it a good option for people needing to manage their money in multiple currencies (not just euros), such as global freelancers for example.²

It has no monthly fees and it’s free to make transfers to other HSBC accounts as well as payments in EUR within the EEA. For all other currencies, fees will apply for sending money abroad - these start from around £7 per transfer. You can manage payments online, in branch and over the phone.²

If you need to convert between currencies, the HSBC Currency Account offers live exchange rates updated during market hours.²

There’s no debit card with this account though, so you won’t be able to spend in EUR.

To be eligible for the account, you’ll need to be a personal customer who already has an active HSBC current account.

Lloyds International Current Account - Best for no transfer fees

The Lloyds International Current Account comes in a choice of 3 currencies, including EUR. It has a monthly fee of £7.50, although this is waived for the first three months.³

Designed for personal customers, one of the best features of this account is its fee-free international transfers. But while Lloyds Bank doesn’t charge fees, it does advise that there may be other charges. For example, correspondent or receiving bank fees when payments are sent via SWIFT.³

Another useful feature is the debit card, which lets you spend in EUR.

To be eligible for this account though, you’ll need to meet a few requirements. You can only get this account if you have either:³

• A gross annual income of at least £50,000
• Savings of £25,000 that you’re willing to save with Lloyds Bank international banking services.

💡 Read more: The best UK banks for sending money abroad

NatWest Travel Account - Best for travel spending

If you’re after an euro account specifically for travel in Europe, the NatWest Travel Account could be worth a look. Once open, the euro-denominated account links to your existing debit card, letting you spend in EUR just like a local.⁴

There are no foreign transaction fees to worry about - just remember to choose to pay in euros if asked. You can also withdraw up to €200 EUR from ATMs a month with no NatWest fees.⁴

The account can be opened for free and has no monthly fees. You can top up your EUR balance anytime using the NatWest mobile app.⁴

An important thing to note about the NatWest Travel Account though is that you can’t send or receive money with it. It’s only for card spending and ATM withdrawals.

OFX Global Currency Account - Best for eCommerce businesses

The OFX Global Currency Account is aimed at businesses, and is particularly good for eCommerce companies operating on a global scale.

It lets you hold balances in up to 7 currencies, including EUR. You can instantly transfer between them for what OFX describes as ‘great’ exchange rates.⁵

The account has no monthly fees, and it’s also free to receive money from abroad. When sending money, OFX charges either a flat fee or a percentage, and it charges a margin on the exchange rate for currency conversion.⁵

You can also connect the account to payment gateways you use and marketplaces you sell on, as well as accounting software such as Xero.⁵

There isn’t a debit card with this account, however. It’s purely designed for payments.

Barclays Euro Account - Best for existing Barclays customers

The Barclays Euro Account is a good pick for the budget-conscious, as it has no monthly fees.⁶

It lets you make international transfers all over the world using online or in-branch banking. It’s fee-free if done through online banking, although some overseas delivery charges may apply depending on the destination.⁷

The account also offers free transfers between EUR and GBP accounts held with the bank.⁶

There’s no debit card with this account, although you can request a cheque or credit book if you need one.

The only way to apply is in branch. To be eligible for the account, you’ll need to be a personal customer who already has a Barclays GBP current account.⁶

Metro Bank Foreign Currency Account - Best for in-store banking

Prefer to bank in branch? One option to look into is Metro Bank and its Foreign Currency Account.

The account comes in your choice of either EUR or USD, and can be managed via mobile app, phone or in-branch banking. Metro Bank has around 76 stores in the UK⁹ - you can find your nearest here.⁸

You can send and receive international payments with this account, although it doesn’t come with a debit card.

Another crucial thing to know about this account is that it does have some fees. There’s an account fee of €5 to €15 EUR (£4.22 - £12.66 GBP) a month depending on your account balance. Plus, you’ll pay a fee of €20 EUR (£16.88 GBP) on top of that to make SWIFT payments.⁸

The good news though is that SEPA payments (in EUR within the EEA) are just £0.20 a time.⁸

To be eligible for the Metro Bank Foreign Currency Account, you’ll need to be a personal customer who already holds a Metro Bank Current Account or Instant Access Account. The only way to apply is in store.

Revolut EUR Account - Best for app-based banking

The Revolut EUR Account isn’t a standalone product you can apply for. It’s something you can add-on once you already have a standard Revolut online current account as a personal customer.

You’ll need to sign up for a Revolut account and choose a plan, with monthly fees ranging from £0 to £45 a month.¹⁰

Once you’ve signed up, you can create a new EUR account in just a few taps of the Revolut app.¹¹ You can hold a balance in EUR, send euros internationally and spend using your Revolut card in EUR.

If you want to send money abroad, you should know that Revolut does charge some international transfer fees. These vary depending on the details of the payment.

You’ll also get a fair usage limit for currency exchange, above which a fee applies. There’s also a currency exchange mark-up which also applies to currency conversions carried out at weekends.¹⁰

💡 Read more: Best online bank accounts in the UK

What is a euro (EUR) account?

A euro (EUR) account is simply a current or savings account denominated in euros. This differs from a standard bank account in the UK, where the money is held in British pounds sterling (GBP).

If you have a euro account, you can send and receive payments in EUR without the currency needing to be converted first. This can help you to avoid high currency conversion fees and poor exchange rates.

However, it’s worth bearing in mind that these accounts sometimes have monthly fees, plus charges for making international transfers.

How does it work?

Euro (EUR) accounts work in almost the same way as your ordinary current account.

You’ll get account details just like you’ve opened a European bank account, so that people can pay you in EUR.

Depending on the provider and the account, you’ll be able to manage your money online, by phone, in branch or via mobile app. You can set up international transfers, and receive them too.

Some are multi-currency international accounts, so let you convert between different currencies.

For others, the provider may require you to open a GBP account with them first, so you’ll only be able to convert between your GBP and EUR accounts. Whichever is the case, just make sure you check whether there are any fees, along with what exchange rate is used for the currency conversion.

You might even get a linked debit card with some EUR accounts. This lets you spend online at European websites and in real-world stores when you’re travelling in Europe. In some cases, you might be able to withdraw cash from ATMs too.

What are the advantages for opening a EUR account?

Here’s a quick look at the main benefits of opening a euro account in the UK:

• Simpler for people and businesses who regularly send or receive EUR payments.
• Helps you to manage exchange rate fluctuations - you choose if and when to convert currency, so you can wait until exchange rates are favourable.
• Free or reduced fees for international transfers (depending on the provider and account).
• Handy for travel spending when you’re visiting Europe.

How to open a euro (EUR) account in the UK?

Here’s how to open a euro account here in the UK, in just a few simple steps:

1. Research the market and choose the right euro account for your needs - making sure to check the fees, terms and conditions carefully.
2. Check you meet any eligibility criteria - you might need to open a GBP account with the provider before you’ll be eligible for a EUR account
3. Apply for the account - many providers let you apply online or through their mobile banking apps, but some only accept applications in branch or over the phone.
4. Provide your personal details and contact information.
5. Complete the required steps to verify your identity.
6. Wait for confirmation that the account has been opened, then add money to it.

You might need some documents to hand before starting your application.

This includes your passport or other photo ID, and proof of address such as a recent utility bill. If there’s an eligibility requirement relating to income or savings, you may also need to show proof of this.

If you’re opening a business bank account, additional documents may be required (i.e. business registration documents).

Manage your money in euros and other currencies with Wise

If you need to send, receive and convert your money in euros and want to save money, consider taking a look at Wise.

Open a Wise account online and you can start managing your money in 40+ currencies (including GBP and EUR). It’s not a bank account but offers many similar features.

Here’s an overview of the main benefits for using Wise:
Fast and easy setup with no physical paperwork Low, transparent fees* Mid-market exchange rate for currency conversions Fully trackable transfers Fast transfer times Advanced security features with two-factor authentication and real-time notifications Dedicated support for large transfers

Sign up with Wise today 💰

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Sources used:

1. Starling Bank - Euro Bank Account
2. HSBC - Currency Account
3. Lloyds Bank - International Current Account
4. NatWest - Travel Account
5. OFX - Global Currency Account
6. Barclays - Euro Account
7. Barclays - Currency Current Accounts
8. Metro Bank - Foreign Currency Account
9. The Guardian - Metro Bank increases job cuts to 1,000 and ends seven-day branch model
10. Revolut - Our Pricing Plans
11. Revolut Help - Open and manage a currency account

Sources last checked on date: 09-Sep-2024