NormanH Posted July 30, 2018 Share Posted July 30, 2018 https://www.thecurrencyshop.com.au/reviews/transferwise-borderless-account-reviewHas anyone tried this? I have asked for a card but am a bit vague about the whole thing... Link to comment Share on other sites More sharing options...
mint Posted July 30, 2018 Share Posted July 30, 2018 Interesting but not much use to me as I transfer money very rarely like once every year or so but I could see its attractions for jetsetters like yourself[:D] Link to comment Share on other sites More sharing options...
Lehaut Posted July 31, 2018 Share Posted July 31, 2018 Our eldest who is currently in London has a Monzo card which I think is a similar system. Many of his compatriots at ICL are non UK and also use the card. He and they are pleased with it. The exchange rate when he came to see us last week Sterling to Euro was the same as Currency Fair. Link to comment Share on other sites More sharing options...
EuroTrash Posted July 31, 2018 Share Posted July 31, 2018 I was very tempted to open one because it looks very useful, but thinking about it a bit more, I didn't feel it was necessary as I can already do everything I need to do very simply using a French account, a UK account and TransferWise to swap between the two. And bank accounts are a bit of hassle since you have to remember to declare them to the fisc. But post Brexit, SEPA payments between the UK and France may no longer be possible so at that point a Borderless account might have advantages. Link to comment Share on other sites More sharing options...
suein56 Posted July 31, 2018 Share Posted July 31, 2018 EuroTrash wrote : But post Brexit, SEPA payments between the UK and France may no longer be possible so at that point a Borderless account might have advantages. I'm of the same frame of mind at the mo .. but, after Brexit, I envisage country to country transfers being much more expensive as I feel the UK banks will reintroduce a sending charge and, naturally, the French banks will make a receiving charge .. as per US banks.In that situation a borderless account would be very useful .. if it still exists in the same way as at present.We'll have to wait and see .. Link to comment Share on other sites More sharing options...
NormanH Posted July 31, 2018 Author Share Posted July 31, 2018 I no longer have a UK bank account so it seemed a way of getting a sort code for one on the rare occasions when I have a UK cheque.. Link to comment Share on other sites More sharing options...
suein56 Posted July 31, 2018 Share Posted July 31, 2018 Norman wrote : I no longer have a UK bank account so it seemed a way of getting a sort code for one on the rare occasions when I have a UK cheque..Do you mean paying in a cheque .. as I don't believe that would be possible. Link to comment Share on other sites More sharing options...
mint Posted July 31, 2018 Share Posted July 31, 2018 I think you are right about paying in cheques, Sue. Mostly these sorts of accounts require you to have cleared funds transferred from a designated bank account so that they know that the funds are available and that the source of all monies is known to them. Link to comment Share on other sites More sharing options...
NormanH Posted July 31, 2018 Author Share Posted July 31, 2018 Thanks Sue. As always you give an inforemed and helpful answer.That is exactly the sort of thing I need to know. Link to comment Share on other sites More sharing options...
Debra Posted August 6, 2018 Share Posted August 6, 2018 I was waiting for this account to become available to private account holders but in the meantime, I opened a Revolut account for currency transfer as they offer the same rate as Transferwise but with no fees, so it works out better. They gave me a free bank account number for both the UK and France, so I can use the debit card in either currency and also have income paid directly into those accounts if I wish to. I haven't done that so far because it's free to upload money directly to Revolut with my existing UK bank debit card (unlike with Transferwise, who charge a fee to do that) and it's instant. I'm testing it all out though as I may eventually just stop using my UK bank account as they've been annoying me for years and I can't see any benefit of staying with them any longer. Link to comment Share on other sites More sharing options...
suein56 Posted August 6, 2018 Share Posted August 6, 2018 Debra wrote : They gave me a free bank account number for both the UK and France, so I can use the debit card in either currency and also have income paid directly into those accounts if I wish to. I haven't done that so far because it's free to upload money directly to Revolut with my existing UK bank debit card ..So have you gone for Revolut's free account ? I have had a quick look at their proposals but would like to know what you think.You talk of a debit card but I thought that was included with the paid-for account only .. or have I got the wrong end of the stick ? Link to comment Share on other sites More sharing options...
Debra Posted August 6, 2018 Share Posted August 6, 2018 I got the debit card free - they advertise it as free every now and then. I've used the account to test out the card but that's all so far. My son uses his both in the UK and when he visits France. It's handy because you can switch money between the UK and French accounts easily, quickly and with no charge - and have the money there to use the debit card when shopping. Son used it in Mallorca last week too. Link to comment Share on other sites More sharing options...
Debra Posted August 6, 2018 Share Posted August 6, 2018 If I hadn't already discovered Boursorama with it's free banking I'd probably have given up my French bank account by now as though there is a limit on cash withdrawals after which you start paying a fee, I rarely withdraw cash but always use a card and there is no limit on spending on that. Link to comment Share on other sites More sharing options...
suein56 Posted August 7, 2018 Share Posted August 7, 2018 Thanks Debra .. you have given me much to think about there. Link to comment Share on other sites More sharing options...
NormanH Posted August 7, 2018 Author Share Posted August 7, 2018 sue would you remind me where on the tax declaration one enters the information about any new account you have opened? Link to comment Share on other sites More sharing options...
suein56 Posted August 7, 2018 Share Posted August 7, 2018 On paper : last page of a normal 2042K in section 8 : Divers .. tick the last box 8UU to say that you have a foreign account(s) then complete a blank piece of paper with user's name, name and address of bank, account number and when it was opened or put the info on a form 3916.Online you will need to tick the same box 8UU on the 2042 and complete the online form 3916 with the same information as above. Link to comment Share on other sites More sharing options...
NormanH Posted August 8, 2018 Author Share Posted August 8, 2018 Thanks again [:D][B] Link to comment Share on other sites More sharing options...
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