I know Starling give good market rates for conversion when spending abroad but…
I currently use a Revolut card to buy Euros throughout the year when the market rates turn in my favour, then use these Euros when I go abroad and to pay some regular annual bills which I have to pay in Euros. By doing this, I de-risk the situation where I may be having to pay for these Euro items at a time when the pound has weakened against the Euro. For example, when the pound/Euro rate recently hit £1/€1.15, I bought quite a few Euros as it’s been bumbling around €1.11-1.14 most of the last 12 months.
I know Starling are looking at something to do with Euro accounts etc, but can someone help me understand this better to see if this is likely to help me remove my need for my Revolut account? Will Starling be introducing anything that allows me to ‘buy and hold’ Euros at whatever rate I buy them, then spend directly from that holding when I go abroad or have to pay my Euro-rated bills? Will this be a separate ‘fund’ within my existing Starling account or will I need to take out another Starling ‘foreign currency’ account, alongside my Starling Personal, Joint and Business accounts I already hold?