Sterling or Euros - Options with French contract
Jan 31st 2020, 11:47 am
#1
Forum Regular
Thread Starter
Joined: Aug 2010
Location: Chamonix Mont-Blanc
Posts: 69
Sterling or Euros - Options with French contract
Just figuring out what the best option is to receive currency, with the option of GBP or Euros.
Current exchange as we speak is £1 to 1.19€. But I'm thinking as it is a french contract you should always receive currency in the country's currency.
Any thoughts much appreciated.
Current exchange as we speak is £1 to 1.19€. But I'm thinking as it is a french contract you should always receive currency in the country's currency.
Any thoughts much appreciated.
Jan 31st 2020, 12:59 pm
#2
Lost in BE Cyberspace
Joined: Jan 2012
Location: Dépt 61
Posts: 5,254
Re: Sterling or Euros - Options with French contract
The wage has to be specified in your contract in euros. You can't specify a sterling wage in a French contract.
Your employer has to pay you exactly the wage the contract says.
If you want to be paid into a UK bank and they agree, that's not a problem. The amount you receive in sterling will fluctuate according to how the exchange rate is on the day. The important thing is that the employer can show the labour inspector, if asked, that they have paid you out of their bank account the exact amount in euros that it says in your contract they have to pay.
If you actually want sterling, the question is - do you prefer to receive it immediately and take your chances on the exchange rate on the day, or would you prefer to hold it in a French bank and play the exchange rate game?
Easiest would be to use a multicurrency bank such as TransferWise, then currency is barely an issue.
Your employer has to pay you exactly the wage the contract says.
If you want to be paid into a UK bank and they agree, that's not a problem. The amount you receive in sterling will fluctuate according to how the exchange rate is on the day. The important thing is that the employer can show the labour inspector, if asked, that they have paid you out of their bank account the exact amount in euros that it says in your contract they have to pay.
If you actually want sterling, the question is - do you prefer to receive it immediately and take your chances on the exchange rate on the day, or would you prefer to hold it in a French bank and play the exchange rate game?
Easiest would be to use a multicurrency bank such as TransferWise, then currency is barely an issue.
Last edited by EuroTrash; Jan 31st 2020 at 1:06 pm.
