If you are selling to the Eurozone and/or paying suppliers in EUR (no matter where they are in Europe), you’ll need to find yourself the best euro bank account in the UK. Step forward, multi-currency digital accounts. These super-quick to open digital bank accounts are available in a wide variety of major currencies, including EUR. For online sellers, Amazon currency conversion costs can be up to 4.5% of the lump sum converted.
Our euro business bank account comparison for UK businesses will help you discover the best option to save money on currency exchanges. Go here for more Multi-Currency Account information.
Best UK Euro Account / Ecommerce Collection Account UK
View the top rated foreign currency collection account in UK below – Updated for: October 2020
- Local EUR account held in Germany allowing SEPA payments in and out
- Generate a free euro business account number, complete with IBAN
- Euro business accounts supplied by a leading Tier 1 bank
- Make EUR same currency or cross-currency payments
- No maximum transfer limits in or out of the account - use as much as necessary
- Excellent, transparent, currency rates with less than 0.5% spread margin
- Work with marketplaces such as Alibaba, Amazon, eBay and more
- UK-based account managers plus account managers in another four continents
- Online euro business bank account account available to UK, EU and USA clients
- Suitable for marketplace collections only
- Corporate FX Specialists
- Leading Online Platform
- History of Consumer and Business Awards
- 0.75% Fixed Margin on Foreign Currency Payments
- Online euro business bank account available to UK clients
- Make and receive EUR payments with SEPA
- Bank Accounts in USA, Canada, UK, EU, New Zealand, Hong Kong, Singapore and Australia are available
- Publicly traded company
- Local UK-based support team
- Euro business bank account easily available to UK clients
- No limits on TransferWise online euro business bank account
- Hold balances in multiple currencies, including your euro business bank account in UK
- Most Recognizable Brand in Money Transfers Today
- Transparent Pricing, much cheaper than UK/European banks
Best Euro Accounts UK vs. Default Currency Conversion
The ground facts
- If you are selling on Amazon into Europe (or any territory where EUR is charged) and are using the default Amazon setup, you will lose up to 4% of your sales in foreign exchange fees when using their Amazon Global Seller Program if you supply a GBP denominated bank account in the UK for your EUR sales.
- If you are using eBay, your items will appear more expensive than their listed price for international buyers (due to Paypal’s high currency exchange fees, even if you transfer money from Paypal account to your Transferwise account).
- If you use a UK or European bank to exchange overseas funds to domestic currency, it will cost you spreads of 2% or more of the lump sum (what’s more you probably won’t be able to open a bank outside of the UK in the currency you require regardless).
Selling internationally comes with countless hurdles to jump, including operations, warehousing and tax, but nevertheless – it presents a huge opportunity to grow your business. Using the right services together, offering you multi-currency accounts, a euro business bank account in UK and cheaper FX will beat Amazon’s currency exchange program (offered via the Amazon Global Sellers Online centre), eBay’s currency exchange fees, or other high-cost “default” solution.
Best euro account in the UK & Your Savings – Online Marketplace Sellers
|Annual Turnover||Amazon Currency Exchange||Specialist Provider||Saving|
|€10,000||€400 in currency fees||€150-$200 in currency fees||€200-$250|
|$50,000||€2,000 in currency fees||€500-$750 in currency fees||€1,250-$1,500|
|$100,000||€4,000 in currency fees||€500-$1,000 in currency fees||€3,000-$3,500|
|$1,000,000||€40,000 in currency fees||€5,000 in currency fees||€39,500|
Notes: The table above is not marketplace specific. The currency exchange services for online sellers can be applicable to your business regardless of whether you sell on Amazon, Ali Baba, TMall, Overstock, eBay, Ubid, Bonanza, or any other online marketplace. The figures used in this table are only meant to demonstrate what could you could potentially save; They use 4% as the base figure for currency exchange fees, and 0.5%-1% in foreign currency fees when choosing a specialist provider – this is not necessarily what you’re paying at the moment, or what you’ll be paying with a currency provider, but rather a rough figure based on Amazon’s FX fees and information supplied by currency providers.
The best UK euro account?
Multi-Currencies Accounts Keep You Covered!
Below are the euro business accounts you can open globally using two of our most recommended multi-currency accounts:
|With World First You can…||With OFX You Can…|
|✓ Open euro account in UK||Open euro account in UK|
|✓ Open euro account in Australia||Open euro account in Australia|
|✓ Open euro account in Europe||Open euro account in Europe|
How to open a euro account in the UK.
If you want to open a business euro account then you should know the process is actually really simple when using an international money transfer firm or Fintech listed on this page. The process will look just like this:
- Choose who you deem to be the best euro account UK from our selection above.
- Open your online euro business bank account (shouldn’t take longer than 10 minutes to complete your initial application for any of the euro business bank accounts listed here).
- Complete your registration profile by uploading your documents to verify your account for security purposes. The same compliance protocols apply to FinTech’s operating euro business accounts in the UK as banks, FinTech’s just speed the whole process up by automating a lot of the process online).
- Activate your euro accounts in the UK and any other currency accounts you require. Get your euro bank account details – including account number and IBAN.
- Upload funds, receive incoming payments and, in some cases, even order your debit card to start spending from your euro account in the UK.
Added values when using our recommendations for online euro bank accounts in the UK?
Companies such as World First, MoneyCorp or OFX provide clients with so much more than simply transferring money from country A to country B, or enabling businesses to collect and pay balances from a multi-currency bank account. It’s not only about improving the poor currency exchange rate offered by Banks, Amazon’s Global Sellers Program or improving your eBay seller account’s value proposition to overseas buyers.
All of these companies listed will provide customers with dedicated account managers that can become a vital cog in your business – they can assist with recommendations for the timing to exchange certain currencies, suggest tailored hedging solutions specific to your business, and even help answer your queries relating to selling internationally online based on their experience in assisting clients who are just like yourself.
For example, we know of cases where account managers from these companies have helped their clients who sell on Amazon reduce their Amazon Seller fees above and beyond just the Amazon Money Transfer costs by recommending local solutions for delivery as well as recommending new marketplaces to sell on, with unique introductory offers.Additionally, the power to open a euro business account (or any other multi-currency account locally), and accepting payments in foreign currency into your bank account is simply unrivalled in the money transfer and currency exchange industry. Very few companies have the same capabilities when it comes to euro business bank accounts for businesses and online sellers as the companies listed here.
Bottom Line – Compare Euro Accounts UK
If you are a small business or online seller, making foreign currency payments in EUR or receiving them, you should consider a specialised and bespoke service to open a free euro business account in the UK. The above companies will enable you to find the best Euro accounts in the UK.