Questions of Cash: I want to set up a euro bank account

Q I am a freelance translator working for European Union institutions and I am obliged to invoice and receive payments in euros. Is there a euro current account which does not charge through the nose and does not require a hefty minimum balance? WS, by email

A Several UK banks offer euro accounts, but they have drawbacks. None of the banks which has supplied details on its euro accounts to the MoneyFacts service operates an account without charges or minimum deposits while also offering cash and cheque guarantee cards. Bank of Scotland's euro current account is free of charges, but there is no cash or cheque guarantee card. Your best option may be to open an account with a bank based in the eurozone that is willing to deal with clients with UK addresses. Several Irish banks will do this, including Bank of Ireland and Ulster Bank, subject to you attending an Irish branch with your passport and two items proving your address. Accounts should come with cash cards allowing you to make withdrawals in the UK – but check this (exact proof of ID and address required) before you travel.

Q Articles written by US financial advisers have praised Dimensional Fund Advisors' (DFA's) mutual funds and I am attracted by its investment ethos. I understand US-based mutual funds are available to US residents only. An article mentioned that DFA had some offshore funds suitable for non-US investors, but I cannot find any listing. How can a UK investor invest in DFA mutual funds and where can I find out more about them? RP, London.

A DFA is launching a Dublin-based offshore mutual fund in May and a UK-based fund by the end of the year, which mirror their US mutual funds. None of DFA's funds is available directly to individual investors, who must go through an intermediary – go to one of the big firms of financial advisers. Several fund managers operate mutual funds offshore mirroring successful US funds. Legg Mason launched a UK-based onshore fund in January as a mirror of its well-regarded US mutual fund: other fund managers are in the process of doing the same. For more information, www.dfaus.com, or phone the London office, 020 7930 0000.

Q Further to the question concerning a mis-sold endowment policy from 1987 (Questions of Cash, 12 April), you say that RWS of Cornwall should ask the Financial Ombudsman to review the case. I am puzzled because when I complained to the old Personal Investment Authority Ombudsman in 2001 about my endowment – which I believe was mis-sold to me by Norwich Union in 1986 – they told me they could not investigate cases prior to 1988. SI, Derbyshire.

A The PIA Ombudsman – now part of the Financial Ombudsman Service – should be able to investigate endowments sold in 1986 by Norwich Union. Insurance and bank complaints were, until quite recently, dealt with by different ombudsman schemes, but these operated under similar rules. It seems likely that the PIA Ombudsman was unable to investigate the case for another reason – possibly that the sales person was an agent of Norwich Union, not an employee. Assuming that you have already exhausted Norwich Union's complaints procedure, you might contact the Financial Ombudsman Service to clarify whether it is able to investigate your case.

Q I have had terrible problems with Lloyds TSB's online banking. It started when I was told to change my password to access my account: I entered the wrong data. I was then thrown out of the system and had to apply for a new password. This involved me having to visit the branch to provide documentation. Since then I have tried to clarify when I can again access my account, but I have found it impossible to get an answer from Lloyds TSB's call centre. JW, Ipswich.

A We have had many complaints about Lloyds TSB's call centres, but we had hoped the bank's claims of improvements were justified. Lloyds TSB says it has introduced changes to its web site to increase security and protect against keyboard scanning viruses. This involves more use of drop-down lists and memorable information. The bank agrees that repeated errors will lead to the loss of service and the need for a customer to visit a branch. It says the introduction of service changes such as these led to a big increase in calls to its help desk and consequent congestion, but it claims that calls are now again being answered "quickly and efficiently". It apologises for inconveniences the new procedures have caused.

If you have questions about personal finance, write to Questions of Cash, 'The Independent', 191 Marsh Wall, London E14 9RS, or e-mail cash@independent.co.uk. We can reply only to letters published here.