It is not difficult to have a euro savings account because they are available in many places in the UK such as Barclays, Bank of Scotland and Lloyds TSB. They all offer this account if it is linked to sterling accounts while others like HSBC and the Royal  Bank of Scotland are capable of providing to their existing and new customers a stand-alone euro account.

Barclays is trying to establish a new euro savings account with new interest rates which will go with a charge card. But this new service will demand that clients pay a fee of 2.99 % per transaction. According to some opinion, this account would attract many persons who have seen how restrictive foreign currency accounts are. The major reason why many people decided to have a foreign currency account is because of the fact that they are living in the euro zone, running a business there, and had a second home. But it was revealed that those who are fond of travelling out will find it useful and convenient having a euro savings account.

While some of the banks would require a minimum balance in the euro savings account, others will not require such. HSBC for instance does not require any minimum balance whatsoever on its euro account, but they expect their clients to pay monthly charges of about 2.50 pounds and also for cash withdrawals and deposits, they will as well pay 1%. 

Interested persons who want to open a low cost euro savings account should avail themselves directly in person to any bank in the Irish Republic. The National Irish Bank has declared that if anyone can satisfy the strict money laundering requirements in any of its branches by presenting their domestic utility bills and driving license, then a no interest euro savings account will be opened for them, whether or not they are solely residing in the United Kingdom. For this account, there will be no minimum deposit requirement and it will come with Maestro debit card which will be accepted in the ATMs of all the countries in the euro zone.

Also 29 offshore banks operating euro savings accounts have been listed by the Financial Researchers Money Facts. Amongst the banks that offer debit cards are Lloyds TSB, Gerrard, Bank of Ireland, Standard Bank, Scroders, and Woolwich Guernsey, but many of them will require a substantial minimum deposit. 3.5 percent is the best interest rate that one can get from the euro offshore accounts. Other banks like First Active Bank would require 30 days notice while the Anglo Irish Bank will demand for a notice of 7 days.

Note that savings accounts in Euros pay reasonable rates of interest. In the euro zone, base rates are far lower than in the UK. Also the euro zone banks pay little or no interest on current accounts while unlike in the UK fee-free banking is less popular. Rather those who travel regularly to the euro zone may come to realize that because a euro account reduces foreign exchange fees and charges for using foreign cash machines, it automatically pays for its self.