How to open a Santander euro account in the UK

Do you regularly send and receive money between the UK and Europe? If so, you might benefit from having a euro account. This could potentially save you money on currency conversion and transfer fees.

In this handy guide, we’ll show you how to open a euro account with Santander here in the UK. This includes eligibility, fees and a look at the benefits of having a EUR account.

We’ll also show you an alternative from the money services provider Wise - the Wise account. It’s not a bank account but offers some similar features, and your money is safeguarded.

Over 12.8 million people worldwide use Wise to send, spend and convert money in 40+ currencies – for low, transparent fees* and no-markup exchange rates close to what you can see on Google. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

Learn more about the Wise account ➡️

How to open a Santander euro bank account in the UK

The Spanish-owned UK bank Santander has a couple of options for UK customers looking to open a euro bank account.

The first is the Santander Gold Account, a foreign currency account offered by Santander International and available in EUR, GBP or USD.

The second option is a Global Currency Account, available exclusively to Santander Private Banking customers.

To become a private banking customer, you’ll need to contact the bank and make sure you meet certain eligibility requirements.

But the Santander Gold Account can be opened online, in branch, by post or over the phone. Here’s the key info you need to know about each method:¹

• Online - complete this short enquiry form to get started
• Post - complete this application form and post it to Santander International, PO Box 123, 19-21 Prospect Hill, Douglas, Isle of Man IM99 1ZZ, British Isles
• Phone - call 08000 84 28 88 between 9am to 5pm, Monday to Friday
• Branch - only available to Jersey or Isle of Man residents able to visit local Santander branches there.

Santander euro account requirements

To open a Santander Gold Account in euros, you’ll need to hold at least £75,000 (or the currency equivalent) in your banking relationship with Santander.¹ So for example, you might hold other accounts or a mortgage with the bank.

You’ll need to maintain the same value of relationship with the bank in order to keep your Gold Account open.

Santander doesn’t say what documentation you’ll need to provide on application. However, you’re likely to need proof of ID (such as your passport) and your address, along with details of the other accounts or products you hold with the bank.

Can you deposit euros at Santander UK?

It’s unlikely that you’ll be able to deposit euros in cash into your Santander Gold Account by visiting a branch in the UK. This is because the account is operated by Santander International, which only has branch offices in Jersey and the Isle of Man.

However, it may still be worth getting in touch with the bank to find out for sure. It may also be possible to deposit cash in non-GBP currencies into other kinds of Santander UK current accounts.

What is a Santander euro bank account?

The Santander Gold Account can be opened in euros (EUR) as well as pounds sterling (GBP) and US dollars (USD). It’s a current account designed for UK and international customers, particularly those with plans to live and/or work abroad.

It offers the following features:¹

• Variable interest rates on your balance, paid quarterly
• A Visa debit card available in your chosen currency
• A Foreign Exchange service for converting currency between your accounts with no commission fees
• Online, mobile and phone banking.

It’s designed for people who want international access to their money, wherever they are in the world.

It can be especially convenient for customers who choose to open a Santander Gold Account in all three available currencies - USD, EUR and GBP - and want to move money between them.

Benefits of a euro bank account: Who is it for?

Euro bank accounts can be extremely useful for people with connections in Europe. You may spend time on the continent for work, have a holiday home there or be thinking of moving there in the near future.

Euro accounts are also handy for anyone who needs to send or receive payments in euros, whether it’s sending money to a family member or receiving large payments for freelance work from a European client.

In a nutshell, the benefits of euro accounts include:

• Minimising currency conversion fees
• The option to convert currency (if you need to) when the exchange rates are most favourable, so you’re not at the mercy of fluctuating exchange rates.
• Faster payments, without the delays associated with currency conversion.

Fees for a euro account with Santander

Now, how much does it cost to hold a euro account with Santander? Like many UK banks, Santander does have some fees - especially relating to international transfers.

Let’s take a look at the fees for the Santander Gold Account:²

For most transactions, there’s no Santander fee if they’re carried out in the same currency as the account.

So you can withdraw cash or make payments using your Visa debit card in euros, without incurring any fees. But if you use the same card to withdraw GBP at a cash machine in the UK, for example, then the foreign exchange fee of up to 3% will apply.

And then there are the international transfer fees, which seem quite high but are broadly in line with those charged by many UK banks. You can compare these costs here.

Wise account – An international alternative to a euro account

Looking for a smart, convenient and low-cost way to send, spend and convert your money in euros?

Check out the Wise account. It's not a bank account but offers some similar features and your money is safeguarded.

With the Wise account, you can manage your money in euros and 40+ other currencies, for low, transparent fees* and mid-market exchange rates close to what you see on Google.

Sign up with Wise for free 🚀

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

Sources used:

Sources last checked on date: 14-Apr-2025