Best UK Euro Account in 2024
Opening a euro (EUR) account can be really helpful if you need to receive, hold, and spend euros in person or online. You’ll often be able to cut the costs of transacting in euros, and can easily convert your EUR balance to other currencies.
However, opening a euro account in the UK with a bank can be cumbersome, slow, and, most of all, expensive. Specialist providers like Wise and Revolut can be good alternatives.
In this article, we'll cover what you need to know about opening a euro account for yourself or your business, including the best euro account UK, the costs involved, and how to open one.
Quick summary: Euro currency account
Before we get into the details, here’s an overview of the euro account options in the UK that we’ll look at in this guide.
Wise euro account: Hold euros as well as 40+ other currencies, with a debit card and no ongoing fees
Revolut euro account: Choose from different account plans to hold, spend and exchange euros and other major currencies
OFX euro account: Global accounts for businesses and online sellers to receive, hold, send and exchange euros and 6 other currencies
Starling Bank euro account: No monthly fees for existing personal customers to add a EUR account to their Starling GBP account
Barclays euro account: Convenient ways to hold EUR and 11 other currencies, no ongoing fees
HSBC euro account: Options to hold EUR and 13 other currencies, additional accounts and features for business customers
Santander euro account: Accounts aimed at high wealth individuals, covering euros, USD and pounds
Lloyds/Halifax euro account: 7.5 GBP/month fee to hold and manage euros, USD and pounds
Natwest euro account: Different options with their own features and fees depending on what you want to do with your EUR balance
Can a euro account be opened in the UK?
It’s possible to open a EUR account in the UK, with account options from highstreet banks, digital banks and specialist online providers. The account types - including features, fees and eligibility - vary widely, so you’ll need to do some research to find the right one for you.
Some euro accounts can only hold and transact in EUR, while multi-currency accounts often offer dozens of currency options as well as euros. That can save you time and money if you travel often or need to hold, send or spend in several currencies.
What are the advantages of a EUR account in the UK?
Getting a euro account in the UK can be useful for:
People who travel often and need to send or spend in EUR
People who shop with international ecommerce stores and pay in euros
Individuals with recurring EUR payments like a mortgage on a holiday home
Freelancers who get paid from clients overseas
Business owners with customers, contractors or suppliers in the euro area
Holding a EUR balance can mean you’re more able to ride out fluctuations in currency exchange markets. Either get paid into your account in euros, or convert pounds to euros in your account when the rate is good. Then use this to spend and make euro transfers when you need to - so there’s no need to worry about getting caught out by a bad exchange rate when you head off on holiday, or when a big EUR payment is due.
For freelancers and business owners, a euro account means you can get paid fee free like a local from all the countries in the euro area. You’ll also be able to collect payments from PSPs like Stripe and marketplaces like Amazon if you’re an online seller. Pay contractors or suppliers from your euro balance, withdraw to your local GBP account or convert it to the currency you need if you have a multi-currency account.
Best euro accounts
The best euro account for you will depend on your specific needs and the sort of transactions you’ll want to make. Let’s start with an overview of the availability, features and fees of some of the most popular euro accounts available in the UK.
| Provider | Availability | Fees | Debit card | Other features |
|---|---|---|---|---|
| Wise | Personal and business customers | No opening or monthly fees for personal account No ongoing business fees | Available | Multi-currency account to manage 40+ currencies Local account details for 10 currencies |
| Revolut | Personal and business customers | Accounts with no monthly fee are available for personal and business customers Upgrade to a fee paid plan for up to 45 GBP/month for personal customers and 79 GBP/month for business clients | Available | Hold and exchange dozens of major foreign currencies Spend globally with a linked Revolut card Some account tiers have extras like insurance included
|
| Starling Bank | Personal and business customers | No monthly fees for personal customers 2 GBP/month for businesses and sole traders | Available | Use the same card for GBP and EUR payments |
| Barclays | Personal and business customers | No opening or ongoing fees for personal account Business account fees may vary based | Not available | Personal accounts can hold EUR and 11 other currencies |
| HSBC | Personal and business customers | No opening or ongoing fees for personal account Business account fees may vary | Not available | Personal accounts can hold EUR and 13 other currencies |
| Santander | Expats and high wealth individuals via private and offshore banking services | Minimum salary or saving levels apply, which can vary by account type | Available | Accounts available in euros, USD and pounds |
| Lloyds | Personal customers | 7.50 GBP/month | Available | Accounts available in euros, euros and pounds |
| Halifax | Accounts offered to personal customers in partnership with Lloyds | 7.50 GBP/month | Available | Accounts available in euros, USD and pounds |
| Natwest | Personal and business customers | Up to 8 GBP/month | Available | Accounts available in a selection of major currencies |
| OFX | Online sellers | No fee to open or operate account; exchange rate markups will apply when converting currencies | Not available | Accounts available in 7 currencies |
You can also get a linked physical or virtual debit card to spend and make ATM withdrawals at home and abroad. All currency conversion uses the mid-market exchange rate with low, transparent fees.
- Wise fees: No fee to open a personal account, no ongoing fees, 7 GBP for personal account holders to get a card
- Supported currencies: 40+ including euros
- Wise exchange rates: Mid-market rate
- Receiving payments: Get paid with local details in 10 currencies
Other notable features: Send to 160+ countries, spend with your card in 150+ countries, set up EUR and GBP direct debits. UK customers can also invest using Wise Assets*.
*Capital at risk. Growth not guaranteed.
Read our Wise review or our Wise multi currency account review for more details
Revolut
Financial app Revolut has euro accounts for personal and business customers. Hold dozens of different currencies, and exchange using the mid-market exchange rate up to the value allowed by your account tier. Out of hours and fair usage fees may apply.
Choose a standard plan which comes with limited no fee transactions but no monthly charges, or pay a fee for more features and higher numbers of no fee transactions. Revolut also has a broad range of other options like linked kids accounts, and budgeting tools.
Revolut fees: No monthly fee for standard accounts. Upgrade to a fee paid personal account for up to 45 GBP/month or a fee paid business account for up to 79 GBP/month. Fair usage and transaction fees may apply
Supported currencies: 25+ fiat currencies available
Revolut exchange rates: Mid market rate to plan limits - fair usage fees apply after that
Receiving payments: You may be able to receive payments with local details for select currencies, depending on account type
Other notable features: Choose from 4 different account tiers to unlock a broad range of account services including savings and investments, insurance and lounge access
Read our full Revolut review.
Starling Bank
Starling Bank offers both personal and business customers the option to open a euro account. Personal accounts don’t come with any monthly fee, and business customers pay a low 2 GBP/month. Euro business accounts are available for both registered business owners and sole traders.
Prospective customers may like to know that Starling Bank has been voted Britain’s Best Bank 4 years running.
Fees: No fees for personal customers, business customers pay 2 GBP/month
Currency conversion: Provided by Currencycloud, uses the prevailing Currencycloud exchange rate
Other notable features: 24/7 currency conversion, FSCS insured for 85,000 GBP/depositor
Barclays
Barclays has euro accounts for both personal and business customers. As a large global bank, Barclays has a good online and mobile banking service but it’s also possible to pay in and withdraw cash at a local branch. Accounts can be opened in a range of currencies - however, you’ll need to open new accounts for each currency you want to receive and hold. There’s not a universal multi-currency option which lets you receive payments in any currency to the same account.
If you’re making a payment in euros it’s usually settled on the same day, making it a pretty fast way to cover your EUR bills.
Fees: No opening or monthly fees for personal accounts. Charges apply when sending and receiving international payments. Business account fees may vary based on company turnover and account type
Currency conversion: Personal accounts can hold EUR or 11 other currencies; business accounts offer 20+ currencies
Other notable features: You must first open a GBP account to get a Barclays currency account
HSBC
HSBC offers euro accounts for both personal and business customers. There are no regular fees for personal account holders, and it’s free to send euros to any EUR account in the EEA. However, there are charges for some types of international payment and other transactions. For businesses there are a few different account types including everyday checking accounts, savings accounts, and foreign currency accounts opened directly with HSBC’s operation in the overseas market.
HSBC fees: No opening or monthly fee for personal accounts, no fee for personal accounts sending EUR to an account in the EEA although there are charges for some transactions; business fees can vary based on account type
Supported currencies: Personal accounts can be opened in 14 currencies, business accounts can operate in any tradeable currency
HSBC exchange rates: HSBC rates are likely to include a markup
Receiving payments: Pay into your account from other HSBC accounts
Other notable features: Several different types of foreign currency business account available
Santander
Santander UK’s euro account focuses on high wealth individuals who are eligible to use the Santander Private Banking service. There are also EUR accounts through Sanander’s international operation which is based offshore but provides services to UK residents and expats. Both these options require customers to have a fixed level of savings or a high annual income. If you’re eligible you can access accounts and linked debit cards for EUR and USD as well as the standard GBP account, all with the services of a personal banker.
Fees: Available to high wealth individuals through the private and offshore banking service
Currency conversion: USD, GBP and EUR available
Other notable features: Get debit cards for each of the 3 available currencies and services through a private banker
Lloyds and Halifax
Lloyds and Halifax are partner banks, and while Halifax does not trade internationally, Halifax customers can access the Lloyds euro account instead. Eligibility criteria apply - including a minimum annual salary or savings level.
The Lloyds euro account is available for personal customers, and comes with a monthly fee of 7.50 GBP or 8 EUR. If you use US dollars regularly you can also open a USD account and won’t need to pay an additional monthly fee for this. There’s no Lloyds fee when you want to make a transfer out of your euro account, but correspondent bank fees will apply - these can be up to 20 GBP and vary depending on the destination country.
Fees: 7.50 GBP/month
Currency conversion: EUR, GBP and USD available
Other notable features: Correspondent bank fees for international payments will apply and can be up to 20 GBP/transfer
Natwest
Natwest personal and business customers can open accounts to handle both euros and a range of other major currencies. Depending on your eligibility you may be able to apply for an International Select Account, a Cash Management account, or a euro account from the Natwest Premier banking service.
Cash Management accounts pay interest on savings with both easy access saving options and fixed term deposits. Cash Management business accounts have eligibility requirements and may not be available to all customers. Personal customers need savings of 25,000 GBP or a salary of 40,000 GBP to get an account. To access Natwest’s premier banking service, customers must deposit 100,000 GBP or have a salary of 75,000 GBP.
Fees: 8 GBP/month for international select account, no fee for cash management account
Currency conversion: 25 major currencies covered
Other notable features: Cash management accounts offer interest and both easy access and fixed term deposit options
OFX
OFX euro accounts are designed for online sellers looking to get paid in a range of global currencies. Account holders can get paid in euros, send transfers and withdraw their money. However, OFX is perhaps better known for its currency risk management products which are also available to business customers. These include forward exchange contracts which can be used to lock in an exchange rate for a future payment, minimising the risk involved with fluctuations in the forex markets.
OFX fees: No fees to open or operate account
- OFX exchange rates: Rates include a markup
- Supported currencies: 7 currencies offered
Receiving payments: receive payments in 7 currencies
Other notable features: OFX transfers and currency conversion have no upfront fees but there will be a markup on the exchange rate used. Currency risk management products also available, with support of personal brokers
What is a euro account?
A euro account lets you hold a balance in EUR. Some accounts also let you receive payments from others in euros, or come with a linked debit card for easy spending in EUR. The features and fees of a euro account can vary very widely depending on the provider you pick. You’ll find accounts which are aimed at high wealth individuals looking to invest and save in foreign currencies, as well as options for travellers, digital nomads and expats. Some accounts hold euros only while others are more flexible, supporting holding and exchange of a selection of different currencies.
How does a euro account work?
Depending on the euro account you pick you may have easy ways to hold, send, spend and receive EUR. Some accounts have EUR bank details which you can give to others if you need to receive payments. Some also have a debit card for cash withdrawals and spending. However, not all accounts have all features as products tend to be tailored to a particular type of customer. Accounts which are aimed more at people investing or paying bills in EUR may not have a card, for example.
Euro account with debit card
If you need a euro account for travel and for shopping online, you’ll need a debit card. While some banks do have multi-currency cards with their accounts, this is not something that every provider can offer with their EUR accounts. If you can’t find what you need with a bank, a specialist non-bank provider might be better. Here’s a reminder of the non-bank alternatives we introduced earlier:
Wise account and card: Order a card for a one time fee, and spend in 150+ countries, in 40+ currencies. EUR supported for holding and exchange, and all currency conversion uses mid-market rates with low fees
Revolut account and card: All Revolut account plans have a linked card which can be used for spending and withdrawals in the Eurozone and globally. The amount you’ll pay per transaction will depend on your account type - all account plans have some no fee currency conversion, but fair usage fees apply once you’ve exhausted your plan limit.
How to open a euro account in the UK
You can open a EUR account in the UK with a digital solution or choose a brick-and-mortar bank. That means you could choose to head to a bank branch to get started, or you may be able to complete your entire application online or using a provider app without ever leaving home.
The steps you’ll usually need to take to open a euro account include:
Choose the best provider for your needs
Check you meet any eligibility criteria
Register for your account online, through the provider app, or in a branch location
Give your personal and contact information
Complete the required verification steps
Fund your account - and you’re ready to go
UK and international law requires banks and similar services to collect some information from people and businesses opening accounts. This helps keep customers safe by preventing fraudulent or criminal use of account services. The exact documents you need will vary depending on the provider and the account type, but can include:
Government issued photo ID to prove your identity
Proof of address - a utility bill or bank statement in your name for example
Business registration documents if you’re opening a business account
What are the advantages of a euro account in the UK?
Euro accounts are handy for anyone who needs to send or receive payments in euros - you won’t need to convert your money back to GBP every time, which cuts down on unnecessary costs. Some people also want a EUR account to get a linked international debit card that can be used when travelling in the Eurozone. Providers like Wise and Revolut have payment cards optimised for overseas use, with great value currency exchange and some no-fee ATM withdrawals, too.
Other people may choose to open a EUR account to save and invest. Holding savings in a different currency can be handy if you’re planning to travel, but it’s also a good way to diversify your investment portfolio.
Businesses can also benefit from a EUR account if they need to pay and get paid in euros. You can hold a EUR balance as a hedge against exchange rate fluctuations, or for future payments, plus you can get paid in EUR by customers and clients, marketplaces and PSPs like Stripe.
How to use a euro account
Exactly what you can do with a EUR account will depend on the account and provider you select. Some accounts are great for day to day use, but some are more aimed at people who want to save, invest or hold a high balance in euros for future needs. Some of the features which are common with EUR accounts in the UK include:
Hold and exchange euros as well as a selection of other currencies in one account
Receive payments in euros by giving others your account details for a bank transfer
Spend in euros with a linked debit card
Invest in euros, or save for a future bill or purchase without needing to convert back to pounds
Euro account details
If you need to get paid by others in euros, you’ll want to find a EUR account which has its own local euro bank details for receiving local payments. Some of the accounts we’ve looked at in this guide - such as the account from Wise and the business account from OFX - offer EUR account information including an IBAN and all you need to receive a payment in euros just like a local.
Euro business account
Some providers offer business foreign currency accounts in euros, as well as options for personal customers. Business customers can often unlock extra features compared to personal customers, to allow them to send money in euros to others, receive EUR payments from customers and payment providers, run international payroll, issue cards for employees, and so on. Again, the features of different euro business accounts can vary a lot - some of the options can include:
Wise business account: One time 45 GBP fee to open an account, with no ongoing charges. Hold 40+ currencies, exchange with the mid-market rate, get debit and expense cards and extras like cloud accounting integrations and batch payments
Revolut business account: Choose from accounts with no monthly fees to options with 79 GBP/month charges, with varying features included in the account price. All options have cards for convenient spending and can hold, receive and exchange EUR and many other currencies
OFX business account: For businesses and online sellers, looking to receive customer payments and get paid through PSPs and market places. EUR offered alongside 6 other currencies.
Conclusion
If you need to receive payments in euros, send international EUR transfers, or spend often overseas, a euro account can help you cut costs. EUR and multi-currency accounts are useful for individuals who love to travel or who live, study or work abroad, freelancers and contractors with international clients, and companies with a global footprint.
There are lots of different options for a EUR account - including accounts which only offer euros and others which allow you to hold and exchange 50 or more currencies. Finding the right one for you will simply be a question of your personal requirements and preferences. Use this guide to the best euro accounts in the UK to start your research and find the perfect match for your specific needs.
If you need euros for a one off trip to Europe, compare the best travel money providers.
We also have guides on the best US dollar account here or best multi currency account here.
FAQs
Get your euro account from a traditional highstreet bank, a digital bank or a specialist online service. Different providers offer accounts with different features and fees, and eligibility requirements may apply.
There’s a broad range of costs involved with opening and operating a euro account. Some can be opened for free, with no monthly charges or minimum balance requirements. Others have monthly fees and strict eligibility requirements. Compare a few to find the right one for you.