Receiving international payments with Monzo


(Harry Cross) #142

This. I contract for a company based in Ljubljana. At the moment I hold a HSBC EUR account which they pay into every month, I then use a free inter HSBC transfer transfer to take those EUR into GBP, and then I send that to Monzo. HSBC don’t charge for transfers between your own accounts, but the exchange rate can be a bit naff.


#143

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#144

I didn’t even know HSBC did alternative currency accounts here to be honest, nice to know.

I heard HSBC is actually quite awkward to transfer money between, I think it was the Tandem CEO saying he lived in France during a recent conference with N26 CEO. He said it was a hassle to get his French HSBC accounts euros into a UK account.


#145

HSBC does charge for transfers between currency accounts but the fees are “hidden” in the rates. I use TransferWise to convert from HSBC EUR to HSBC GBP, it’s slower but I usually get a better rate.


#146

My invoices are in sterlin.
I don’t need business account working as a sole trader.


#147

Apologies, I know both Revolut and Starling have dedicated business accounts and as such they forbid sole traders etc from using their personal accounts for business.

I thought this’d be the case with Monzo due to regulation, I thought business finances would be meant to be separate regardless of sole trader limited status.


(Joël Kai Lenz) #148

Yeah but also the land with the highest prices :wink: Especially if you’re craving food.


#149

UK also has this :wink: all the prices go up but the wages don’t


(Joël Kai Lenz) #150

Haha true! I’m just looking for a new flat in Soho and man?! I just heard my bank account getting crushed :scream: :scream: :scream: