euro current accounts

[HappyCamper]

not sure what is the best way to do this and its all greek to me - but what I need is a euro bank account that I can put deposits into as needed (probably twice a year) and I can use to pay cypriot bills and draw cash out of ATMs when I am over. Internet banking is a must have.

I see that some UK banks are now offering euro accounts as well as those offered by cypriot banks.

Any suggestions would be much appreciated. I know we are not supposed to advertise on here, but I assume its ok to share personal experiences.

Thanks

[Nigel Howarth]

Hi HappyCamper

Opening a Cyprus bank account from the UK straightforward. Just visit an overseas branch of a Cypriot bank operating in the UK. (For example the Bank of Cyprus has branches in Birmingham, London and Manchester.)

Once opened you can transfer money from your UK account into your Cyprus bank account - the UK bank will convert to Euros. Or you can use one of the numerous currency transfer companies.

Regards,

[J B]

We have a 'savings' account with Bank of Cyprus (Coral Bay, Paphos)

It pays a great interest rate ... 0.01% perhaps!

There is no chequebook, but we have a debit card for cash withdrawals and have DD's set up for electricity, water, etc

We have on-line banking and once we have 'switched off' paper statements, there are no fees to pay.

[HappyCamper]

quick update on BoC and euro accounts
BoC UK can not open cypriot euro accounts for customers (I tried)
Indeed the Manchester "branch" is not open to the public (it is for businesses only)
The only way to contact BoC UK is an email address off their web site or a UK Customer Care phone number
BoC UK's customer service centre is a phone number eventually answered (if you are very lucky) by a single operator as far as I can tell

I was a BoC UK customer - am no longer of course

the Euro accounts now on offer from UK High Street Banks might be worth looking at.

[Nigel Howarth]

Hi HappyCamper

According to the BoC UK website: "Euro Online Personal Current Account, gives you everything you need to manage your money, quickly and simply. It’s available to UK residents only."

More information at Euro Online Personal Current Account.

Regards,

[HappyCamper]

it does indeed Nigel

and charges are scandalous!

www.bankofcyprus.co.uk/media/7241/Tarif ... r-2013.pdf

BoC Cyprus based savings account is the best way methinks/or possibly Barclays UK Euro account (that has mixed reviews)