Euro Accounts - Offshore Savings | moneyfacts.co.uk

Best Buy - Offshore Euro Savings Accounts

  - Compare offshore savings accounts that allow you to make deposits in Euros, and will pay you interest in that currency too.
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Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

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What are offshore euro savings accounts? 

A euro savings account is simply an account that lets you pay in and earn interest in euros. These currency accounts are available from some UK banks and building societies, but are also available from offshore banks too.

Who might open an offshore euro savings account? 

  • EU nationals living and working in the UK or abroad
  • Those who own properties in Europe
  • Those working in the EU states and being paid in euros

The distinct advantage of having a savings account denominated in euros is that if it’s the currency your income is in; you don’t have to face foreign conversion charges, not to mention losing out if the exchange rate isn’t favourable.

Depositor protection schemes in crown dependencies

Warning signFunds kept offshore don't fall under the UK Financial Services Compensation Scheme, even if your bank is a subsidiary of a UK bank or building society. Depending on where the bank is licenced you might be protected by a scheme in that jurisdiction.

Gibraltar
Gibraltar
100% of the total of all qualifying deposits up to a maximum of €100,000 via the Gibraltar Deposit Guarantee Scheme.
Guernsey
Guernsey
First £50,000 (or Euro equivalent) per individual claimant per licensed institution via the Guernsey Banking Deposit Compensation Scheme.

Isle of Man
Isle of Man

Depositors' compensation scheme (DCS) that compensates up to £50,000 (or Euro equivalent) of net deposits per individual depositor.
Jersey
Jersey
Depositor's Protection Scheme. Individual depositors are protected up to £50,000 (or Euro equivalent) per person per Jersey Banking Group.

Find out where an offshore bank is registered, and the relevant compensation scheme in our depositor protection scheme guide.

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