Multi-currency accounts

Transferwise Borderless Account — GBP, EUR, USD and more

This is the newest and one of the coolest additions to my list. You can have proper bank account details in the UK (GBP), Germany (EUR), the US (USD) and Australia (AUD) plus hold 15 other currencies (with their own local bank accounts coming soon!) and convert between them at mid-market rates + 0.5% fee. Here’s the link (referral).

No receiving fees for getting paid to any of the “real” bank accounts in their currency! No subscription fees! You just pay a small fee to withdraw or send money (pricing details).

Recently, Transferwise also introduced debit cards! Basically, it is free to spend currencies you hold, you get cheap Transferwise conversion rates to other supported currencies, and Mastercard rates on the rest. It is a good deal especially for those who are using the Borderless Account to get paid.

Sign up to Transferwise via this link (referral).

Revolut — GBP, EUR, USD, 12 others

You can hold 15 different currencies (and several cryptocurrencies) and interconvert between them at live market rates with no fees (up to £5,000/€6,000/equivalent per month, or 0.5% fee thereafter). You get “real” UK GBP bank account details, and others are in the pipeline. The EUR account supports SEPA payments.

It comes with a Mastercard debit card. Foreign currency purchases are also at live market rates with no fees (above limits apply). ATM withdrawals are free up to £200/€200/equivalent per month, 2% fee thereafter. (There are better options than this, see below!) Also, worth noting that there is a premium version to remove the limits and during weekends (when there is no live market rate) there is a 0.5–2% surcharge, see FAQ for details.

Sign up link (referral). Available to residents of EU/EEA countries.