Best Euro Accounts UK

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. If you’re an individual who needs to receive large, or constant, Euro payments from abroad, you will excellent benefits from using a foreign EUR account as well.

 

Why a Multi-Currency Account for Euro?

If you are trying to save money on the exchange rate between GBP EUR and/or other currencies then you should know that a EURO bank account as per the list below will help you achieve that. Also, by opening an online business bank account in Euro or a EUR private bank account, you can reduce the amount of currency transactions conducted, thus reducing the foreign exchange fees incurred. The best Euro “bank-like” accounts are available below and are constantly inspected and compared, and additional UK best multi-currency account information available here.

Best UK Euro Accounts (Virtual Foreign Bank Accounts)

View the top rated foreign currency collection account in UK below – Updated for: June 2022

UK Best for eCommerce Sellers 🛒: Potentially the Best EUR Rates
Headquarters:
Millbank Tower, 21-24 Millbank, Westminster, London SW1P 4QP
95.4% Editorial rating
3,000 Client Reviews
Minimum transfer:
Min. annual volume of £1,000 - **Only Accepting Business Clients and Online Sellers**
Why Them?
  • Bank accounts available in UK, France, Germany, USA, and Canada, as well as Singapore, China and Japan (recent additions). You can receive funds from any country into your business EUR bank account.
  • FX Margins from 0.15% to 0.5% per transaction, potentially cheaper than competitors like TransferWise (Wise). No fixed payment fees or receiving fees.
  • Industry Leader in the eCommerce Space, Owned by Ant Financial (AliPay). Easy integration with any eCommerce platform, and Amazon recommended solution for currency exchanges.
+Read more
UK Best for Corporate Foreign Exchange Accounts 👨‍💼: Receiving Large Euro Amounts, FX Hedging
Headquarters:
Zig Zag Building, 70 Victoria St, Westminster, London SW1E 6SQ
93.2% Editorial rating
7,000 Client Reviews
Minimum transfer:
Min. annual volume of £5,000 - **Virtual Bank Accounts for Business Clients and Online Sellers - But Send and Receive Payments Available for Private Cusotmers**
Why Them?
  • Operating since 1979 - the first commercial foreign exchange space. Specialising in businesses - corporations and small businesses. Each business customer with volume of £5,000 is assigned with a dedicated currency dealder, demonstrating very high level of professionalism and excellent availability.
  • Virtual IBAN bank accounts available in UK, EU and USA - but you can use Moneycorp to receive foreign exchange payments from everywhere in the world. Multiple offices in the EU, as well as UK and USA.
  • 98% satisfaction based on online customer review. Many customer and business awards.
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UK Best Online Multi-Currency Account for Euro to AUD, NZD, SGD 🌏
Local UK Offices:
The White Chapel Building, 10 Whitechapel High St, London, E1 8QS
90.4% Editorial rating
1,500 Client Reviews
Minimum transfer:
£100
Why Them?
  • Multi-currency Bank Accounts in EU, USA, Canada, UK, New Zealand, Hong Kong, Singapore and Australia
  • Traded Publicly in the Australian Stock Exchange. A prominent and well-know company with excellent reputation in Australia operating for 20+ years. Boasting more than £20bn in annual turnover, across all five continents.
  • Diverse offering combining the good parts of all other compabies - transfer money abroad, receive funds, multi-currency accounts, corporate foreign exchange, ecommerce intergration, online system and a friendly app.
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UK Best for Private Clients - Wise EUR Account: Easy to Use 💺. Fast ⚡. Debit Card 💳. Best App 📱.
UK Offices:
Tea Bldg, 6th The, 56 Shoreditch High St, London E1 6JJ
86.8% Editorial rating
32,000 Client Reviews
Minimum transfer:
€1
Why Them?
  • Bank accounts available in UK, EU, Poland, Australia, New Zealand and USA but you can hold money in 50+ currencies
  • Most recognisable name in money transfers and multi-currency account, serving millions of customers and traded on the London Stock Exchange
  • Very transparent about its fees which are generally among the cheapest for both private clients, GBPEUR consistently below 0.5% in fees.
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UK Highly Professional Currency Broker in its Early Days
Headquarters:
Pixel Business Centre, 110 Brooker Road, Waltham Abbey, Essex, EN9 1JH
85.0% Editorial rating
150 Client Reviews
Minimum transfer:
£250
Why Them?
  • NAMED ACCOUNTS - MULTI-CURRENCY ACCOUNT IN YOUR NAME
  • Receive Money in 32 Currencies including Exotic Currencies
  • New Business, Experienced FX Team
+Read more

Business Euro Account FAQs

What’s the difference between Euro accounts with UK banks and online Euro business bank accounts?

Online Euro business bank accounts are only accessible online or via the provider’s app. These online-only providers have no retail presence and the bank accounts are not able to accept cheques. Other than this, the accounts operate in much the same way. Whether the accounts are held in the UK or Europe, EUR payments are made within the SEPA network, allowing for either same-day (urgent SEPA credit transfers) or next-day delivery (standard SEPA credit transfers).

What are the benefits of opening a Euro business bank account?

By opening a euro bank account you can avoid the excessive conversion charges of constantly converting all EUR receivables to GBP. If you have both payments and receivables in EUR then you should find a natural hedge between the two. By being able to hold EUR balances you may also avoid potential exchange rate loss by opting to convert when the exchange rate is in your favour.

Are these euro business accounts free to open?

Yes, all of the online providers allow you to open a euro account for free. The only cost will be the fee to make payments, as well as currency conversion fees when you’re converting between two currencies. Currency conversion fees are almost always cheaper with money transfer companies than they are with banks. UK banks may also charge an account opening fee.

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 TurnoverAmazon Currency ExchangeSpecialist ProviderSaving
€10,000€400 in currency fees€50-€100 in currency fees€300-€350
€50,000€2,000 in currency fees€250-€500 in currency fees€1,500-€1,750
€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 – €10,000 in currency fees€30,000 – €35,000

Notes: The table above is not marketplace specific. The currency exchange services for online sellers are 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 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-Currency 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

Note there are other euro accounts with UK banks where you can open up foreign bank accounts for your business, such as HSBC euro accounts UK, however we have only focused on services offered by money transfer companies. This is because they are always cheaper to operate and faster to open. It’s also worth pointing out that HSBC’s multi-currency accounts are actually held in Jersey. The money transfer companies we feature here have built solutions where the currency account is held locally to the country it represents – making it easier to do business like a local.

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:

  1. Choose who you deem to be the best euro account UK from our selection above.
  2. 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). 
  3. 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).
  4. 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.
  5. 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 provide customers with dedicated account managers that often become a vital cog in their business – they can assist with recommendations for the timing to exchange certain currencies, suggest tailored hedging solutions specific to each business, and even help answer queries relating to selling internationally online based on their experience in assisting clients who have a similar business profile and sell on many of the same marketplaces

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. We believe the above companies provide the best Euro accounts in the UK – they’re free to open, have no ongoing maintenance costs and are accompanied by a smooth, reliable and low-cost payment solution. Applications take no longer than 10 minutes and you can open a euro business account on the same day you apply.