UK Online Banking For Europeans

[Edwin]

You'll end up paying quite a lot of fees to do what you do. Even if you can get the money into the account (or load it onto the card, if you go for a prepaid debit card solution) there will typically be a charge of 2% or more on foreign exchange transactions, and there may also be a separate charge for cash withdrawals overseas (e.g. 2 pounds per withdrawal, or something like that). So finding a solution that's free to deposit the money into may not be the cheapest once you consider ALL the fees involved throughout the process until the cash is sitting in the intended recipient's hands.

[accelerator]

Lee, if you got the person to open an account at a bank in Romania that is a member of local clearing, and that bank will also accept you as a customer, then the other person can have a debit card in Romania's local clearing, and you should be able to fund the person's account via an internal account transfer at the bank, which would normally be free wouldn't it? Providing you can fund your account intermittently, charges would therefore be low.

Rgds

[crabfoot]

Look, I'll say what the deal is, without naming the product, because I don't have an aff link yet. This appears to be a great product - I've applied for one myself.

Lee is currently in GB. He can get a pre-paid debit card free, which can be used to withdraw cash all over Europe without charges - there are only charges if the card is used in GB. He can get a second card in his girlfriend's name for £5.
Cards are valid for 2 years. The exchange rate is excellent. No nasty penalties to soak up the balance in charges if you don't use the card. Issued by a name you can trust.

The card is only available to UK residents, needs passport number for validation during signup, and can only be loaded by the primary cardholder using a UK debit card. The minimum load amount is £100, the maximum is £5k, and if you use it heavily you might get checked out by Her Majesty's agencies for the prevention of naughty activities. The only big drawback is that you don't get any protection against unauthorised use, like you do with major league cards.

Sorted? I'd say so ...

[splendidanna]

Hello Lee,

I think I might know the right solution. Have you thought about a PrePaid Card. I work on behalf of Escape MasterCard PrePaid Card, which is the cheapest way to get money to friends or family abroad – done in 60 seconds and it’s for free.

It also brings financial inclusion with no bank account needed plus, unlike many prepaid cards, it is available to everyone.

You can purchase them from Phones4U stores. Here's a video that explains exactly how it works, there is also a Romanian version
You can also find out everything you need to know on the website

[crabfoot]

Splendidanna - That's another version of the same card priced at £9.99, instead of the FREE version I told Lee about.

[splendidanna]

Hello Crabfoot,

Although the Escape MasterCard Prepaid Card costs £9.99 to purchase there are no annual or monthly charges. It is the cheapest way to get money to friends and family abroad, and it is very quick. What also makes this card even better is that it allows you to recieve cashback at 1000s of stores too. It’s the highest value pay as you go card on the market, as well as being one of the cheapest.

Lee, obviously you need to use the card or method that suits you best. I just thought you might want to know about the Escape card.

hope it has been helpful!