# Commuting to UK for work.  Bank account for salary ?



## Petermack (23 Mar 2015)

Looking for some advice regarding payments received in Sterling.

I work in the UK and get paid in Sterling. My bank account used to be with AIB but last week I setup accounts with KBC. At the time I was told by the customer services rep at KBC that I could setup a sterling account with them and I could use this to accept my salary payments in sterling.

I got a call this morning from KBC to tell me that this was a mistake and this is not possible, as KBC cannot accept foreign exchange payments.

This leaves me in the situation now that my accounts with AIB are in the process of being closed and my direct debits etc are being transferred to my new KBC accounts.

I have been trying to find out if it is possible to use one of the currency conversion companies such as Transfermate or Currencyfair so that my employers would transfer my salary to one of these companies and that they would carry out the conversion and then transfer my salary payment to my KBC account in Euro. I have asked the question of both but the people I have spoken to in both have never encountered a situation like this and could not give me an answer. Has anyone any suggestions to get around this


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## ardmacha (23 Mar 2015)

This isn't very good service, I have the impression that perhaps they did these previously, maybe they no longer do so with SEPA?
In general, your best plan is to open a UK Sterling a/c (in Britain or NI as convenient) and transfer funds yourself with Transfermate on the day of your choosing (as the rate goes up and down). Presumably you spend some sterling also so this would prevent changing it twice.


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## Username2012 (24 Mar 2015)

ardmacha said:


> This isn't very good service, I have the impression that perhaps they did these previously, maybe they no longer do so with SEPA?
> In general, your best plan is to open a UK Sterling a/c (in Britain or NI as convenient) and transfer funds yourself with Transfermate on the day of your choosing (as the rate goes up and down). Presumably you spend some sterling also so this would prevent changing it twice.



Is there any reason you can't get a UK bank account? That is typically what people do when they work in the UK....


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## Petermack (24 Mar 2015)

Username2012 said:


> Is there any reason you can't get a UK bank account? That is typically what people do when they work in the UK....


I'm finding it difficult to find a bank that will open an account for me in the UK without having proof of address there. I commute weekly between Ireland and the UK and the company pays for me to stay in hotels.


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## ardmacha (24 Mar 2015)

Petermack said:


> I'm finding it difficult to find a bank that will open an account for me in the UK without having proof of address there. I commute weekly between Ireland and the UK and the company pays for me to stay in hotels.



A quick trip to Newry might be in order, especially if you have been with AIB, First Trust should be able to help you.


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## Petermack (24 Mar 2015)

ardmacha said:


> A quick trip to Newry might be in order, especially if you have been with AIB, First Trust should be able to help you.



Thanks Ardmacha. I approached the local AIB branch in Glasgow and they wouldn't setup an account for me. They stated that they were a commercial bank only in the UK. I may well need to visit Newry and setup an account there with First Trust.


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## ardmacha (24 Mar 2015)

Another possibility is NationwideUK in Dublin, but their account is a savings one, it isn't designed to have money flowing through it an if you transfer out you might have to use their exchange rate. 
[broken link removed]


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## Brendan Burgess (24 Mar 2015)

I opened a sterling account a couple of years ago with Ulster Bank in Newry and found it very straightforward. I didn't have to visit them as it was only a current account. 

Your employer in the UK should have a word with their bank and ask them to help out an employee.


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## Gervan (24 Mar 2015)

I just opened an Ulster Bank current account in Newry this month, not living in NI. It takes time, as various Pin codes etc have to be sent by post, but there were no hiccups. Any Ulster Bank can witness your ID and send confirmation by internal post to NI.


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## Willy Fogg (24 Mar 2015)

Lloyds and TSB would be good places to talk to: 

http://www.tsb.co.uk/current-accounts/faqs/identity/
http://www.lloydsbank.com/banking-with-us/joining-lloyds/new-to-the-uk.asp


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## Zoe Fitz (7 Jun 2019)

Brendan Burgess said:


> I opened a sterling account a couple of years ago with Ulster Bank in Newry and found it very straightforward. I didn't have to visit them as it was only a current account.
> 
> Your employer in the UK should have a word with their bank and ask them to help out an employee.




I phoned Ulster Bank in NI tthis week as I wanted to open a Stg£ account as I sometimes receive small Stg£ cheques.

I was told I would have to appear in person in Newry to do this, which isn't really possible for me at present.

What is the best alternative?


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## EmmDee (7 Jun 2019)

Zoe Fitz said:


> I phoned Ulster Bank in NI tthis week as I wanted to open a Stg£ account as I sometimes receive small Stg£ cheques.
> 
> I was told I would have to appear in person in Newry to do this, which isn't really possible for me at present.
> 
> What is the best alternative?



Who is your bank here - the main ones can operate foreign currency accounts via their treasury group. I have a USD account with BoI


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## dishwasher (7 Jun 2019)

What about Revolut or similar? They do multi currency.


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## EmmDee (7 Jun 2019)

dishwasher said:


> What about Revolut or similar? They do multi currency.



Do they do cheques?


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## orka (7 Jun 2019)

Petermack said:


> I have been trying to find out if it is possible to use one of the currency conversion companies such as Transfermate or Currencyfair so that my employers would transfer my salary to one of these companies and that they would carry out the conversion and then transfer my salary payment to my KBC account in Euro. I have asked the question of both but the people I have spoken to in both have never encountered a situation like this and could not give me an answer. Has anyone any suggestions to get around this


I'm amazed that Transferwise would be unsure if this could be done - it's one of their main functions.  TW has a borderless account that will give you UK bank details that your employer can lodge your salary to.  You can then convert to euros at excellent rates and very low commission and send the money to your Irish bank account.  They also have a multi-currency debit card that you can use to spend whatever currencies you are holding.
I get paid some of my pay in dollars and the above is exactly what I do - lodge to US bank account, leave some behind to spend on the debit card when I'm in the US, convert and transfer the rest.  I'm a big fan of TW and would invest in them if I could find a way...


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## Paul M. (7 Jun 2019)

EmmDee said:


> Do they do cheques?



No, if you want a sterling cheque book I think you'll need to go for a more traditional bank.


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## gnf_ireland (24 Jun 2019)

Hi 
I done something similar back in 2010 when I worked out of the UK. It was a bit complicated as I was a consultant at the time, so was working for a UK 'agency' paying the funds into an Irish 'umbrella' company who performed payroll services to me. I officially had the contract with the Irish payroll company.

'We' used TransferMate for the process
https://www.transfermate.com/
I use the word 'we' because it was the UK agency who officially was the client of transfermate, and they paid the funds into the account (in GBP). TransferMate then exchanged to EUR and paid them into the Irish bank account of the Umbrella company. As they were regular (monthly) payments, TransferMate also allowed me 'book in' exchange rates when the currency price dipped a bit for up to 2 weeks in advance. That way I always knew the euro amount I was going to receive. It should also be noted that the GBP amount did fluctuate month on month as I was getting a day rate at the time.

The UK agency company were happy to oblige as it made their payment process easier to pay into a UK bank account rather than an Irish one, and obviously saved me a lot of money between inter-country bank transfers plus banks exchange rates. The whole thing probably saved me at least a grand for the 12 months I was doing it !


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## Ravima (24 Jun 2019)

Zoe Fitz said:


> I phoned Ulster Bank in NI tthis week as I wanted to open a Stg£ account as I sometimes receive small Stg£ cheques.
> 
> I was told I would have to appear in person in Newry to do this, which isn't really possible for me at present.
> 
> What is the best alternative?


The UB website suggests that a non UK resident can open account online


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## money_man (4 Jul 2019)

TransferWise will give you UK and EU bank account numbers


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