Deposit Euros in UK?


Hello, I have Euros in cash from my last trip to Europe and want to add them to my Revolut card.

I don’t want to convert them to GBP but can’t think of an easy way to transfer to Revolut.

I was wondering if I can directly deposit the cash in a Lloyds bank branch without any conversion.

Thanks :slight_smile:


Why lloyds bank branch?


I have tweeted to Barclays and they told me that I need to have my own euro account (too expensive).

So I thought because the bank account to deposit to is at Lloyds, they might accept deposits at branches.


I don’t see why any bank branch would do that without asking for a fee. Also, as for now, bank transfers in EUR to your Revolt account are not possible from account that aren’t in your name. And asking a bank to transfer cash to your Revolut card would be exactly this, I assume.


Yes, @Frank is right.

Unfortunately we don’t accept cash deposits to top up your Revolut account. They will be returned to the sender with a processing fee deducted.


You can open a Euro account for free in Barclays bank in your own name, deposit the cash there, and then send it as a SEPA transfer to Revolut for a £5 fee (roughly, I can’t remember the exact SEPA fee for the Barclays Euro account). However, you have to have or open a current account with Barclays to be able to open a Euro account.


SEPA transfers in Euros should be free.


Thanks @Geoffrey I didn’t know it was free if I already have an account. I will try that!


I think opening the Barclays Euro account should be free, but making a SEPA transfer out of it definitely isn’t free. The charge is not very high compared to most UK highstreet banks.


It “should be” free to make a SEPA transfer from that Barclays account, but it isn’t. The SEPA directive merely says that SEPA transfers to any SEPA country must not cost more than national transfers in Euros inside the country. As there is no national system for transferring Euros inside the UK, the banks can charge what they want for SEPA transfers. Santander UK charges £25 (ridiculous).

Now, it used to be the case that BACS had the possibility of sending Euros within the UK, but that facility was shut down not long after the SEPA system came into effect. So there is no competing “free” national transfer system for Euros, and I think CHAPS (if it can even cope with Euros) is not a free transfer system. Faster Payments is for Sterling only. So we’re stuck here in the UK with banks charging what they want for SEPA. Only competition from the likes of Revolut might bring a change to that, but with the UK heading out of the EU and the Single Market, my bet is that banks will start to charge even more. We might even lose SEPA as we could well be ejected from the Single Euro Payments Area. All bets are off currently.


Yes you are correct - I have multiple euro accounts, but they are in progressive countries and I’ve never been charged for a SEPA Euro transfer.

I’m amazed Barclays can get away with it.


Yes, I think the official regulation is that an international SEPA transfer must not cost more than a national one within a specific country. But a bank could set its own fees for it. Since every national transfer in most EUR countries is basically now a SEPA transfer, most banks don’t charge private customers a fee for it.