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    22 Replies Latest reply on Aug 16, 2008 8:40 PM by MsLili

    EURO ACCOUNT     INTERNATIONAL

    gracie Newbie

      I am doing business in France and need to keep my EUROS in EUROS. While banks in Europe offer accounts in dollars and euros, I am having difficulty finding information about BANK OF AMERICA's options for small companies on both shores. I know that they are owned by BANK PARIBA but no customer service in either bank can shed light on the relationship or which division offers the service....

       

      can anyone help.

      I don't even know if this is the right place to post!

      say g'nite

      GRACIE
        • Re: EURO ACCOUNT     INTERNATIONAL
          NatOnline Tracker
          Have you ever try to contact a central bank? I am not sure, but I think it is possible to open an account with the devise you need.

          I am French, I can even open an account in France because I am a legal resident in US lol
          • Re: EURO ACCOUNT     INTERNATIONAL
            Wirelessany1 Newbie
            Hello Gracie,

            Bank of America does offer Euro Accounts. Have you tried speaking with your local banking center? The banking center in your area can get in contact with their Business Banker who can help you get information. The Business Banker will coordinate with the Foreign Currency. Someone from that division will call you to give you pricing and information. They will then coordinate opening the account if that is what you decide to.
            1 of 1 people found this helpful
            • Re: EURO ACCOUNT     INTERNATIONAL
              NatOnline Tracker
              Bonjour Gracie,

              J'ai trouvé l'adresse de la Bank of America a Paris ca devrait t'aider:

              Bank of America
              51 Rue François 1er 75008 PARIS
              01 45 02 68 00
              • Re: EURO ACCOUNT     INTERNATIONAL
                equinina Newbie

                I bank with B of A but recently had to open an account with HSBC because they have easy access all over the world. I have to send alot of money over to London and it was getting crazy with all the fees. Don't know if I am suppsed to mention another bank here but tha is what i did. If you go to thier website it explains everything. Ofcourse i still have all of my B of A accounts.

                Hope this helps,
                1 of 1 people found this helpful
                  • Re: EURO ACCOUNT     INTERNATIONAL
                    gracie Newbie
                    Dear E:

                    I think you did the right thing. I really got nowhere with BofA and had to REALLY DIG to get cooperation. I found it particularly frustrating as BANKPARIBAS here in FRANCE actually owns a huge hunk of BofA.

                    However, even with HSBC, I could not open an account here. I would have to open in the USA, then using the USA bank branch as a reference, I could then open an account here. HOWEVER, even with then the two accounts CANNOT speak with each other NOR even act as a liason. ???

                    I will say that BOFA does offer solutions for MEGA corps, just way to expensive for me to participate. Too bad they haven't figured out that small businesses have a huge need to go international.

                     

                    I am leaving this question unanswered, however, your advice as been the best so far...

                    CAT
                      • Re: EURO ACCOUNT     INTERNATIONAL
                        equinina Newbie
                        hmmmmmmmmmmm - the HSBC website made it seem like you could to me. I did it all online but my needs are different from yours. It has been a challenge to get it going because of Patriot Act but they have finally approved my account. There are so many challenges those of us who have small business have to deal with that are overlooked. Maybe someone should start a resource service for hard working entrepreneurs like ourselves. If I hear of anything that might help I will certainly post. Good luck.........E
                      • Re: EURO ACCOUNT     INTERNATIONAL
                        CorpCons08 Ranger
                        I would not advise Citibank as an option. Although Citibank has a presence in many countries, the banks are not the same bank. For instance, Citibank, Japan cannot review or do business on accounts established in the United States or England. The same goes vice versa. No one country can view or do business with another countries accounts. This lead to many problems for business owners who could not access funds. I would look at other options before trying to understand the Citibank network.
                      • Re: EURO ACCOUNT     INTERNATIONAL
                        CorpCons08 Ranger
                        my post on this subject is not working...TEST?
                        • Re: EURO ACCOUNT     INTERNATIONAL
                          Bendite6 Newbie
                          Thank you all for your input. I too had considerable digging to do within BOA customer services to find help within their foreign exchange division. Their products seem to change periodically but currently they offer a time deposit account off shore, held in Euros, interest bearing. When you want to access your funds you need a two day advance notice to negotiate the exchange into dollars. Some of the options are for a one week maturity, so if you needed that level of liquidity you could do so although at a lower interest rate. Hope this may help someone, I works for me.

                          Bendite