Can I have a EURO account in the UK that pays interest?

A reader asks: “I’m looking for a euro account in the UK that pays interest. My main purpose is to hold a large amount of euros and maybe convert to sterling or transfer to a French account sometime in the future.” 

A quick recap for the unfamiliar: A euro savings or currency account in the UK is an account denominated in euros (€) rather than British Pounds (£), allowing individuals to hold, send, and receive euros directly.

It can help avoid currency conversion fees for transactions with the eurozone, such as paying for a holiday home, receiving a pension, or managing overseas expenses.

Where To Save Euros

Good Money Guide first looked at the issue of euro savings accounts back in January 2020, almost exactly six years ago. Back then UK interest rates were near record lows at 0.75%, eurozone interest rates were hovering around 0%, and consequently there were essentially no euro savings accounts in the UK that paid interest.

Pleasingly the situation has improved a bit in that time, as interest rates have increased in a better turn of events for savers (if not borrowers). And yet specific euro savings accounts for UK residents remain scarce, and more importantly, pay scarcely any interest.

Best Euro Savings Accounts

HSBC, for example, pays just 0.60% on its euro denominated savings accounts up to 5 million euros (and 0.65% thereafter).

Lloyds pays even less at 0.25% on balances over 10,000 euros, rising to 0.40% on balances above 50,000 euros. Though this does jump to 0.90% on amounts above 500,000 euros.

Both are better than Barclays, which was paying 0% on its euro savings accounts six years ago when we previously looked at this issue (unchanged since 2016), but now doesn’t offer the account at all.

Admittedly the European Central Bank rate is still only 2.15% (more than a percentage point lower than the Bank of England’s 3.75%) and off the record, this is what banks are blaming for the low rates on euro accounts.

So instead the thing to do is to potentially look at brokers that pay interest on unvested euro cash.

XTB, for example. A global, FCA-regulated fintech company and brokerage firm providing an online trading and investment platform for over 1.7 million clients. While it offers access to over 6,600+ stocks, ETFs, and CFDs (contracts for difference) – with 0% commission on stock trades up to a certain volume – another key feature is it pays interest on uninvested cash.

Currently (as of 2 February 2026) XTB pays 2.30% interest on uninvested euro cash, one of the higher rates for broker accounts. Your funds are protected by the FSCS up to £120,000 per person in the unlikely event of XTB’s insolvency.

Trading 212 is also an option. Another popular fintech company, it provides commission-free investing and trading through user-friendly apps that allows users to buy stocks, ETFs, forex, and CFDs, and is regulated by the FCA. It also pays interest on the uninvested cash in your account. Trading 212 pays 2.20% interest on uninvested euros, earned and paid daily. Any uninvested cash held within your account is also covered by the FSCS up to £120,000.

Wise, formerly TransferWise, also an FCA-regulated fintech, which offers low-cost international money transfers, multi-currency accounts, and debit cards, lets you earn returns on GBP, EUR and USD by opening a Wise account and investing in a fund that holds government-guaranteed assets.  Wise is currently giving you 1.72% on your euro cash. FSCS protection applies.

Finally Revolut customers with UK accounts can hold savings in euros and users can earn daily interest on those balances. However a spokesperson said: “While we do offer interest-bearing savings accounts for euro balances, this is only available to customers on our Ultra and Metal plans.”

They added: “The specific interest rates are set by our bank partners and can shift, so if the reader is on one of those plans, the best thing to do is go into their Revolut app, ‘Add new personal savings’ and they will see the interest rate according to their plan.”

But – and it’s a big but – Revolut is not yet fully authorised as a bank in the UK. It is currently in a ‘mobilisation’ period to set up banking processes. This means customers’ money is not protected under the Financial Services Compensation Scheme, which may not be right for your large sum.