The best Euro bank accounts for UK residents

In this article we round up the best euro bank accounts, specifically looking at those that are safe to open and offer the best rates on transfers.  

If you frequently travel to Eurozone countries, send money to friends or family abroad, earn money in euros or have European clients, you could benefit from a euro account. The trouble is how do you find one that’s right for you?

Most of the traditional ‘high-street’ banks offer banking in euros, but it’s often an antiquated and costly affair. In this article I take a look at some of the best euro bank account for UK residents. I’ve used many of these myself, so have a good insight into how function both at home and abroad. 

If you are just travelling then see our guide to the best credit and debit cards for travel and If you’re an expat living abroad, then see our guide to the best bank accounts for expats. 

Quick Summary: Top 5 Euro Accounts for UK Residents

If you need a euro account right now, here are the best active options:

• Wise: Best overall availability. Offers local bank details (BE IBAN) and the mid-market exchange rate. Perfect for freelancers and expats.

• Revolut: Best for features. Offers instant SEPA transfers and competitive exchange rates, though the standard plan lacks FSCS protection.

• HSBC Global Money: Best for existing HSBC customers. A seamless in-app option that replaced ‘Zing’, allowing fee-free spending and holding of euros. See our full HSBC Global Money Account review.

• Monese: Best Starling alternative. Easy to open a fully-featured Euro account with a debit card if you are new to the UK or have limited credit history.

• Starling Bank: Currently Paused. Remains the gold standard for a fully regulated UK euro bank account, but applications are currently closed to new customers.

• Barclays: Best high-street option. Good for receiving euros if you already bank with them, but lacks a dedicated euro debit card.

Can I open a euro account in the UK?

Yes. Even though the UK is not part of the Eurozone, it remains a member of the Single Euro Payments Area (SEPA). This means you can open a Euro-denominated account to send and receive payments just as easily as if you were in France or Germany.

How it works:

Most modern UK banks (like Starling and Revolut) allow you to open a “sub-account” in Euros alongside your main GBP account. This gives you a unique IBAN (International Bank Account Number) starting with GB, or sometimes BE or LT depending on the provider.

What you need to open one:

• Proof of ID: A valid passport or driving licence.
• Residency: You generally need to be a UK resident (verified via phone location or utility bill).
• An Existing Account: For banks like Starling or Barclays, you must usually have a standard GBP current account with them first before you can “add on” a Euro account.

Wise – best for large currency exchange

Wise is a multi-currency account aimed at expats, travellers, and freelancers. It is one of the most frequently recommended in expat groups and those with homes abroad and is commonly used by Brits buying properties in Spain and elsewhere and transferring large sums of money abroad. 

Often compared to Revolut, Wise is a little different in what it offers. The multi-currency account provides customers with free bank details for the Eurozone, as well as the UK, US, Australia, New Zealand and Poland:

• European IBAN (ES or DE depending on where you open the account)
• British account number and sort code
• US account number and routing number
• Australian account number and BSB code
• New Zealand account number
• Polish account number

Fees

Wise is totally upfront with its fees, and whilst it might not always be the cheapest, you don’t have to go searching through the terms and conditions to find out how much something is going to cost. 

ATM withdrawals are free up to £200 per 30 days. This matches Revolut and UK digital bank Monzo. Starling has no such limitations.

There are however a number of things to look out for depending on how you use the account. Firstly, there is a small conversion fee when you convert your money from one currency to another.

The is typically between 0.35% and 2% depending on how exotic the currency is. Euros usually command a lower fee. 

Secondly, Wise doesn’t have FSCS protection (though it is regulated by the FCA), but instead keeps all client funds in a Barclays bank account. As such, even if Wise went under, your money would be safe. However, if Barclay’s itself ceased to exist (extremely unlikely), your funds would be at risk.

Eligibility

There’s no fee to open the account, but you will need to be over 18 and have proof of address and ID. Overall it’s a great low cost of entry that makes a good account have as a back up. 

>> Get a Wise Multi Currency account

Starling Euro account – best for everyday use

UPDATE: Starling has temporarily suspended all new applications to its euro account. They’ll be back, but we don’t know when.  We will update this article when the situations changes. In the meantime we’d suggest opening a Wise account for euro spending and a Starling account for when the euro account returns. 

The Starling Euro account launched at the start of 2019 as a fee-free account allowing its holders to send and receive payments in euros, and make seamless fee free transfers between sterling and euro currencies.

Since then the account has grown into one of the best UK euro offerings around. Debit card functionality through the existing current account card, allowing current account holders to quickly convert their existing Starling debit card into a euro debit card with only a few taps.

It works by letting the card detect the currency being used, and automatically switching between either pounds or euros. The exchange rate used for card purchases is the Mastercard wholesale rate. 

“A single card that can buy things in both Euros and Pounds is long overdue and something that we know our customers will value both in their personal and business lives,”

Starling’s Former CEO Anne Boden.

The account works well and the euro version has most of the bells and whistles of the main GBP account including savings spaces and the bills manager, making it the top choice euro current account in the UK. 

Fees

Towards the end of 2019 Starling introduced a fee 0.4% for converting between pounds and euros. Previously it was possible to move money from a Starling current account to the Euro account without any fees or commission.

There are ways to avoid this, and for small amounts the fee isn’t likely to cause any hardship, but it’s annoying nonetheless. That being said the fee is less than you’d pay with Revolut (0.5% outside of the free allowance) and cheaper than you will find at most other banks. 

What to watch out for

There are a couple of minor drawbacks to the account. Firstly it doesn’t use SEPA instant, so transfers in and out can take day. This might change soon as the European Commission has introduced draft legislation announcing the requirement for near real-time / instant payments. 

Secondly, there is no proof payment or remittance statement. This is something that some receipients might ask for (it’s very common in Spain for example). Oddly Starling offers this on its GBP account, but not for Euro transactions. I have suggested this to Starling so look out for a possible update in the future. 

Despite these two points, Starling remains my top pick as the best euro account in the UK, and one of the few with full FSCS protection on deposits. 

Eligibility

In order to open a Euro account you must first hold a regular Starling current account. Fortunately the application process is quick and easy, but it is an extra step compared to others in the list. Particularly if you already have current accounts you are happy with elsewhere.

That being said, the Starling current account is one of the best around and has won the Best British Bank Account Awards four years in a row. 

It’s a little extra burden for those that are happy with their current bank account, but there is no need to switch or even use the sterling based Starling current account. It just needs to be opened in order to get access to the Euro version.

>> Get a Starling account

Revolut – best for instant transfers 

Although Revolut is now a bank in its own right (In the EU), it is better known as a versatile multi-currency tool which can be used to hold, convert and send funds all at the interbank exchange rate. That’s unfair, as Revolut does work as current account in it’s own right complete with your own account IBAN. 

The account comes with a virtual card, but it’s best to order a physical card as a back up. Also be sure to test it before you before you travel.  

Fees

There are no fees for transfers up to £5,000 a month and just a 0.5% thereafter. Fee-free ATM withdrawals are limited to £200 per 30 days (on the free package). If you need to exchange large amounts from one currency to another, or exchange currency frequently, it makes sense to forego the 0.50% free and instead sign up to the Premium service. On a £10,000 exchange, this would save around £18 assuming you hadn’t already used £5,000 free allowance, or over £40 if you had. 

Additionally the Premium option also includes overseas medical  insurance, and mobile phone coverage for a year. 

Revolut isn’t always up front with its fees, and some require digging around in the terms and conditions. For example there is an additional 1% fee when exchanging money at weekends, so stick to weekdays where possible. There are also additional fees for transfers to US accounts. 

Instant payments

Another benefit of Revolut that is worth pointing out, is that it is the only account in our list that can both send and receive SEPA instant payments. SEPA instant is similar to the UK’s Faster payments. It means payments sent to, or from participating banks show up in near real time. Compared to a day or two for regular SEPA payments. 

Whilst on the subject of payments, another feather in the cap for Revolut is the payment confirmation statement. Many organisations abroad will ask for confirmation of payment when sending large sums, or initiating contracts. Starling offers this only on its GBP account. Revolut offers this for all transfers and also shows the payment status too. You’ll find this extremely useful when dealing with Spanish agencies. 

What to watch out for

We mentioned that Revolut is a bank. Although a UK headquartered company Its banking licence is via Lithuania. As such UK Revolut accounts  are not covered by the FSCS. Accounts opened with an EU address are however covered by the Lithuanian equivalent, the DPS up to €100,000. In the UK Revolut is e-money provider not at bank. UK rules mean e-money providers must ring-fence customer deposits here in the UK. In this case deposits are held with Lloyds. 

It’s certainly not a reason to avoid Revolut, but certainly something to keep an eye-on especially if leaving substantial deposits in the account for any length of time.

Eligibility

There’s no special eligibility criteria other than the beyond having a UK or EU address. On signing up, you get a UK account number and sort code, plus an IBAN and SWIFT code for foreign receipts/payments.

>> Get a Revolut account

N26 – best for residents with a second home abroad

N26 is a German based digital account that previously operated in the UK. It would have been amongst our top picks but it withdrew from the UK market in part due to Brexit, more likely due to the huge competition in the UK market. As such it is not available to those applying from a UK address. 

Despite that, the digital account is still one of the best for Expats. Technically UK residents aren’t eligible for the account, but if you have a foreign address perhaps due to owning property abroad, you can use that to sign up, along with your foreign tax number (for countries like Spain).

You’ll need to declare your tax residency in the country of your foreign address. 

For those who reside in the UK and do not have property or other interests abroad, using an address (of a friend or family member) from abroad, for example Ireland will work. But be warned, this would be against the terms and conditions of the bank and may result the the closure of your account. As such it’s not something I recommend. 

As N26 is a fully registered bank all deposits are protected by the European Deposit Protection Scheme (similar to the UK’s FSCS) up to €100,000.

N26 was previously voted best bank in the world by Forbes Magazine. Take from that what you will. I’ve tested it, and it works well. If you sign up via my link below you’ll get a free €5 welcome bonus. 

>> Get an N26 Account

Barclays – High street euro account

As traditional high-street banks go, Barclays has one of the lowest cost Euro accounts on the market and has eliminated many of fees present with other traditional banks. 

Paying money into your Euro account is free for cash in the same currency. Free from your Sterling account if it’s in the same name. ATM withdrawals are free, as are international payments. 

If you receive payments into your Euro account from outside of Europe, then there is a £6 charge. Cheques are also costly (but thankfully seldom used these days), and of course any telephone transfers are going to set you back, up to £25 in this case. But here’s the biggest drawback. There’s no ATM card. Rendering this account useless for travellers, but possibly still of value to those receiving money in Euros but spending in Sterling.

Here you can find more information about the fees for using the account 

Eligibility

Unfortunately there’s another setback here. Unlike those listed above the account can only be opened via a physical Barclay’s branch (remember those?), or via telephone. You must be aged at least 18 years old, resident in the UK and you will need a Barclays sterling current account. Barclays Basic Current Account Holders are not eligible to open a currency account. 

HSBC Euro account & Global Money Account

Due to its global nature HSBC has long been the bank of choice for those banking internationally. It has a well developed euro bank account with access to live change rates, and no monthly or annual fees. What we’re more excited about though its new Global Money Account. 

Both accounts are free, but only available to current HSBC customers (unfortunately First Direct customers aren’t eligible). The Global Money account is still very new, and is more aimed at travelling rather than being a dedicated euro account.

It allows customers to hold money in up to 18 different currencies, uses the VISA daily exchange rate for card spending abroad, and HSBC’s own very competitive rate for currency conversions. 

The account lets you send payments abroad directly from the app, but since these aren’t SEPA instant payments, they take at least a day to show up in the recipients account. There’s a €500 daily ATM limit, and a €50,000 cap on transfers. 

Unfortunately you cannot receive payments to the account at the moment, but HSBC promises this feature is coming. We’ll provide an update here when it’s available. 

As we mentioned, it’s not a true euro account yet, but HSBC plans to develop it over the coming year, and it’s certainly something to look out for. 

>> Get a HSBC euro account

Other accounts to consider

If you just want an account because you frequently spend or hold euros, but don’t need additional features like SEPA transfers or direct debits, then these are also worth considering.

Trading 212 debit card

The Trading 212 debit card allows you to spend directly from your Trading 212 invest account (you don’t actually need to invest anything). It offers 0.5% cashback on spending, and uses the interbank exchange rate when converting currency. 

I’ve been using this account for the past few years, and it’s been my go-to for foreign spending. See my Trading 212 debit card review for an in depth breakdown.