A reader has asked: Can I open a business euro account online?
The good news here is that yes you can. In fact, you can open most business accounts online, although depending on your requirements you will be better off with a challenger bank like Starling or Revolut.
Both of those challenger banks offer slick apps and easy signup procedures.
I myself tried to open up a business account with both Barclays and NatWest a few months ago. I gave up after about 10 minutes with Barclays as the website was horrible and it took far too long. Although I already bank with NatWest it was such a length onerous process to open an account for a new ltd. that I gave up.
With the new breed of challenger banks, you can open a UK bank account with open banking very quickly. Starling I would say is better than Revolut because they operate off a UK license rather than Revolut, who run off their European one. Starling Bank also has very responsive customer service via email or through their app.
Starling Bank also provides excellent exchange rates for Euro international transfers. You can read more about them in my interview with Anne Boden, the founder, and CEO of Starling Bank. They are ideal for small regular transfers, but for larger transfer, it may be worth using a currency broker who can give you more control over the transaction and lock in exchange rates for future large conversions.
However, one of the downsides of Starling is that they only offer mobile banking when converting pounds to Euros. Which is probably fine for small businesses, but is very annoying in some instances. An online banking portal to use on a desktop would be very helpful.
You can also review a list of UK banks that offer free Euro accounts here, as most also offer business services.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
