{"id":553623,"date":"2025-02-03T09:56:54","date_gmt":"2025-02-03T09:56:54","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=553623"},"modified":"2026-03-30T10:59:43","modified_gmt":"2026-03-30T09:59:43","slug":"can-you-deposit-foreign-currency-into-a-uk-bank-account","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/current-accounts\/can-you-deposit-foreign-currency-into-a-uk-bank-account","title":{"rendered":"How to deposit foreign currency into a UK bank account?"},"content":{"rendered":"

If you\u2019re trying to send money to your account in the UK or receive a payment from someone else overseas, you\u2019ll need to work out how to do it. <\/p>

Can it be done?<\/h3>

Yes, foreign currency can be deposited into a UK bank account, but it\u2019s not as straightforward as that. There are a few different ways this is done, which we\u2019ll cover in this guide. <\/p>

The various methods for a personal account<\/h3>

A non-bank multicurrency account<\/h3>

This type of account is designed specifically for the purpose of holding multiple currencies and sending money overseas. Generally offered by fintechs and e-money institutions, they\u2019re becoming increasingly more popular, as their offerings are tailored to enhance the international money experience. They\u2019re usually cheaper, faster and simpler than what a traditional bank account can provide. We also review a selection of multicurrency accounts<\/a> & Euro accounts<\/a> for those running a business.<\/p>

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Pros<\/h4>\n
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  • Exchange rates are normally better than the banks<\/li>\n
  • Quicker<\/li>\n
  • Lower, more transparent fee structures<\/li>\n
  • Wider range of currencies<\/li>\n <\/ul>\n <\/div>\n \n
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    Cons<\/h4>\n
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    • Might have a limited range of banking features<\/li>\n
    • Can sometimes involve various know your customer (KYC) checks<\/li>\n <\/ul>\n <\/div>\n <\/div>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n