20k, travel money, best way to manage

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paperclip

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i've 20k for a years travel.

i plan to put some in a credit card, and the rest, in a bank account. one that i can easly access online, and manage.

should i put half of this in a savings account, with a decent % rate? until i need it.

say 10k.

is it worth it, or feesable? such as the aib savers account?
 
See the Financial Best Buys forum for the best demand lump sum deposit accounts and rates on offer. Most of these would suit and allow money to be transferred online to another account where you can then transfer it to your CC account or whatever. Do be careful when using online banking when travelling (e.g. taking care to ensure that you don't leave details on shared internet cafe etc. computers).
 
I did something similar a few years back.

Set up the savings account before you go anyway as pretty hard to arrange from abroad and you may start working etc and not need the full 20k.

Don;t just look at rates, think of what suits you best. For example, Rabo gives customers a little device(size of small calculator) that you would need to carry around (and not lose). Maybe open account that only requires you to remember passwords. Also, its easier if all accounts are with the one institution to cut down on access codes etc to remember.
 
ClubMan said:
See the Financial Best Buys forum for the best demand lump sum deposit accounts and rates on offer. Most of these would suit and allow money to be transferred online to another account where you can then transfer it to your CC account or whatever. Do be careful when using online banking when travelling (e.g. taking care to ensure that you don't leave details on shared internet cafe etc. computers).
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cool, so it's "demand lump sum deposit account" i'm after. i've seen ad's for aib's one... but there was somthing about interestet added after a couple of months...

and ye, i've heard about security issues, in relation to online accounts and internet cafes.... is there any way to protect yourself from this?
 
WillMcC said:
I did something similar a few years back.

Set up the savings account before you go anyway as pretty hard to arrange from abroad and you may start working etc and not need the full 20k.

Don;t just look at rates, think of what suits you best. For example, Rabo gives customers a little device(size of small calculator) that you would need to carry around (and not lose). Maybe open account that only requires you to remember passwords. Also, its easier if all accounts are with the one institution to cut down on access codes etc to remember.
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i'm banking with ptsb at the moment... i'm just looking at their savings accounts, [broken link removed]

they've a 30 day
Fixed Term Deposits

Gross RateCAR 3.65%3.71%


i reckon 30 days notice would be enough, as i'll be away for a year, what do you think of this account?

i'd imagine having both my current account and savings account with the same bank would be a plus....
 
Why not just FA eSavings for 5.22% gross CAR on up to €15K and Halifax FlexiSaver for 5.15% gross CAR on up to €10K (i.e. < €15K in the former and the rest in the latter)? As I already said all high rate deposit accounts are listed in the Financial Best Buys forum so I'm not sure why people feel the need to go searching further for the best deal... :confused:
 
ClubMan said:
Why not just FA eSavings for 5.22% gross CAR on up to €15K and Halifax FlexiSaver for 5.15% gross CAR on up to €10K (i.e. < €15K in the former and the rest in the latter)? As I already said all high rate deposit accounts are listed in the Financial Best Buys forum so I'm not sure why people feel the need to go searching further for the best deal... :confused:
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well, i'll only have 20k, so will need cash, ready to spend...

so, i'm thinking of having some in my credit card, and some in my current account, for when i want to withdraw from atm's.

and then feed the current account from the savings account, when nessasary.

just had a look at the financial best buys... you reckon the first active one would be the best, for say, 15k?
 
paperclip said:
well, i'll only have 20k, so will need cash, ready to spend...
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Yes - and the accounts that I mentioned are demand deposit accounts.
so, i'm thinking of having some in my credit card, and some in my current account, for when i want to withdraw from atm's.
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Fair enough.
and then feed the current account from the savings account, when nessasary.
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Yes - no problem with the accounts that I mentioned.
just had a look at the financial best buys... you reckon the first active one would be the best, for say, 15k?
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It pays the best rate for sums up to €15K doesn't it? Read the long discussion about it to make yourself aware of any issues with this account (in particular the need to avoid ever exceeding the €15K limit and falling onto the lower rate for the full balance).
 
ClubMan said:
It pays the best rate for sums up to €15K doesn't it? Read the long discussion about it to make yourself aware of any issues with this account (in particular the need to avoid ever exceeding the €15K limit and falling onto the lower rate for the full balance).
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yes, just read that, so prob best just to deposit 14k or so.

thanks
 
just remember the cirrus and maestro charges when you are abroad. When I was in Australia I was being charged about €5 for every $300 I withdrew from ATM's with my laser card. Better off to have the credit card in 'credit' and us that instead.
 
Be careful about putting it on your credit card , if you card gets scammed the bank won't cover any positive balance....
 
All of these issues (e.g. Cirrus/Maestro versus CC charges for accessing cash; terms & conditions relating to cash balances on CCs etc.) are all covered several times in great detail in existing threads. Search them out for more background reading.
 
I had/have a Bank of Ireland Savings account and a Visa card. Both of these are accessible via 365 Online, their internet and telephone service.

I left the money in the savings account, then used the Visa wherever, for cash and purchases. Then went online to transfer money to pay off the Visa every-so-often. Simple as that, no interest accrued.
 
dubmick said:
just remember the cirrus and maestro charges when you are abroad. When I was in Australia I was being charged about €5 for every $300 I withdrew from ATM's with my laser card. Better off to have the credit card in 'credit' and us that instead.
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yes, that really anoys me.... ridiculus charges even in the uk.

i'll be using my credit card as often as possible
 
jhegarty said:
Be careful about putting it on your credit card , if you card gets scammed the bank won't cover any positive balance....
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really! hmmm, i'll have to check and see if my travle insurance would cover this, it is money stolen off you after all.....

i won't keep too much on the card, just feed it when nessasary, thanks for tip
 
Gautama said:
I had/have a Bank of Ireland Savings account and a Visa card. Both of these are accessible via 365 Online, their internet and telephone service.

I left the money in the savings account, then used the Visa wherever, for cash and purchases. Then went online to transfer money to pay off the Visa every-so-often. Simple as that, no interest accrued.
Click to expand...

this is exactly what i'll be doing.

internet banking rules.....
 
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