Salary in GBP (Before opening bank account)

#1

Hello,

In a few days I’ll start working for a UK-based college although I’ll be physically working and residing in Spain. My payroll will be in GBP and this is why they have required an UK IBAN account number. Since I can not proof my residence in the UK - which is something I see most banks require there, some do not and on the contrary ask you a bunch of paperwork I’ll might end up doing, but it takes a while- I have thought about the chance of opening a bank account in some of these internet-based banks. I see for instance Revolut, which provides accounts with UK IBAN numbers, and they do not require proofs of residence to their clients. In this specific case I’d like to ask any of you:

  • Is there any problem with receiving a salary into a Revolut account in GBP? Are they well prepared for this?

  • I will need my money in Spain, logically. I will only be traveling to London once in a while but my expenses are and will be made all in Spain. Which is the best way to transfer then my salary (perceived in GBP) into € so I can use this in Spain? Through the same Revolut? When I say the ‘best’ I mean the easiest and the cheapest… *Note: Right now I only have a couple of ordinary accounts (expenses and savings) in Triodos Spain.

Thanks,

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#2

Simply give your British employer you local GBP account (sort code and account number NOT SWIFT IBAN) and you should be fine.

Once your funds are in your account you can convert them to euro or spend them directly with your card. Just make sure you avoid conversions and/or spending from your GBP funds on the weekend as there is a surcharge (convert in advance).

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#3

Yes, use the UK sort code and account number in Revolut, not the pooled IBAN account.
I’m paid from the UK in GBP in this way, but live in the eurozone.
Never had any problems with this

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