Which UK bank account for the year abroad?

Has anyone set up a new UK bank account for the purpose of going abroad? I am wondering if there are any with particularly low transfer/withdrawal charges (as Erasmus+ grant will be paid in to this account). Understand that using a transfer service is also a way to avoid charges and the hassle of setting up a new account, but wanted to see if there are any banks people recommend.

This question was asked on 29th May 2015 and has been read 1333 times.

  • Connie Searle · 4 years ago

    Hi there,

    I'd definitely recommend MetroBank - they have free withdrawals from ATMs in Europe, and also no charge to pay for things using the card itself. I set one up before going on a summer course in Portugal for a month, and the card worked well, and was definitely the cheapest bank account I'd ever used. The bank's based in London, but if you're not near London I don't think you actually need to go in to make an account.

    Hope this helps.

  • Anonymous Answer · 4 years ago

    I didn't set up a new bank account in the UK before I left, but instead I relied on a Caxton FX currency card to use abroad. It has free withdrawals abroad and better exchange rates than you would get if you use a UK card to withdraw money abroad, and was very easy to use. I would definitely recommend it as a supplement to a UK bank account - also because you know how much money you have in euros, instead of checking the exchange rates on days of withdrawals. 

If you would like to contribute to this question, please login or register.