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Can my wage be deposited in a bank account in another European country?

I am wondering whether or not my employer can pay my wage into a bank account which is in another European country (or a non-EU country). If this is possible, please could you provide some reference. Thanks.

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4 Responses to “Can my wage be deposited in a bank account in another European country?”

  1. ▐▀▀▼▀▀▌ ►B☻B◄ ▐▄▄▲▄▄▌ said :

    Yes. All you need is the sort code. You will be able to withdraw money too from european countries via Cirrus/visa/Maestro ETC. Some banks charge for this.

  2. certaxrugby said :

    perfectly possible – but there will be some bank charges and currency transfer charges attached which your employer will not want to pay and so you will have to pay them for your employer.

  3. AnYingJie said :

    Yes, all you need is the IBAN number for your european bank account.

    Transfer charge:
    however, there will be a charge to send (SWIFT/CHAPS), and if it is larger than the employer normally pays for their UK BACS (xx-xx-xx) wages transfer charge, you will need to offer to pay that to the employer as a deduction.

    Currency change:
    The receiving bank will probably charge you a receiving charge (typ 20 Euro) for the transfer and then there will the currency exchange fees/rates.

    Alternate Solution:
    Use an offshore/international bank with a UK bank deposit account.
    Employer pays into a UK bank account using BACS as normal
    You use teh web to manage your account and decide when to move your money and how much, between GBP/Euro/USD accounts optimising the exchange rate and managing your money as needed. You can pay you bills directly from teh account or transfer Euro-Euro to a European account (there will still be CHAPS/SWIFT fees, but as it Euro to Euro it should be less, and you have already optimised your currency losses.
    There is typically interest on these international ‘current’ accounts.
    and you can set up regular transfers
    pre-set payment destinations
    you can choose you residency/choose you area of taxation.

    Example: – accounts on offer/interest

  4. Matt said :

    You will need to check with your employer and if they do you will need to give them your IBAN and BIC numbers of your foregin bank account.


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