UK (FinTech) account for salary purposes

banking
europe

(Otto Kampa) #1

I want to pay myself some money as UK salary. What is the easiest solution for this? Think it should at least be personal UK IBAN.

Should I pay myself in GBP?

How should I keep currency and other costs down when I primarily keep money in Euro in Transferwise accounts?

Otto


(Philip Broughton-Mills) #2

You can get a GBP bank account from Monese, no UK address required.


(Otto Kampa) #3

Actually I finished my Monese setup with a video call yesterday. I sent money to Monese and Revolut, only the Monese has arrived, even though I sent to Revolut first. I could also move the Monese money quickly back to Revolut.

65p cost on taking the money out of Transferwise.

Otto


(Thomas K. Running) #4

It depends on the purpose of “paying yourself a UK salary”. Generally it doesn’t matter in which country a bank account is located when it comes to where that salary is taxed (the exception being remittance based systems like the Maltese non-dom regime).

But if you want a UK IBAN (not sure why that’s important) and avoid conversion to GBP, then Revolut’s EUR “account” should work fine. The IBAN provided has a GB prefix.


(Otto Kampa) #5

I am not really in the UK, so I want to claim that this is “UK salary” both from the point of view of the company and myself.

Otto


(Thomas K. Running) #6

I still don’t understand your intended purpose… Do you intend to claim that it’s salary for work performed in the UK (and with whom are you claiming that)? Or if not, how do you define “UK Salary”?