# Best Buy Lump Sum Demand Deposit Rates for Non-Residents



## NY_Resident (6 Jul 2009)

I have noticed that most of the "Best Buys" for Lump Sum Demand Deposit accounts are only available to Irish residents. I am currently working and living outside of Ireland (for last 2 years) and am therefore not resident in Ireland. I have a lump sum balance of 80k in an AIB account which is earning close to 0% at the moment 

Has anybody done any research as to the lump sum demand deposit "Best Buys" for non-residents?

Given that I am abroad, online or phone access will be an important consideration.

Appreciate any advice you may have...


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## Lightning (7 Jul 2009)

What country are you currently resident in? Have you researched local options?


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## NY_Resident (7 Jul 2009)

fungus

I am based in the US. However, I have significant concerns about future inflation here and the knock-on impact on the strength of the USD. I therefore transferred a chunk of my savings to Euro, so I am looking for EUR desposit rate options.

FYI -- I also have a significant EUR mortgage in Ireland so just wanted to hedge my bets a little by moving from USD to EUR. Using this cash to pay-off part of my mortgage is not an option -- I need the liquidity.

Thanks


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## Lightning (7 Jul 2009)

The problem with non resident accounts is that there is far from open information on the rates on offer. 

Some banks do offer the same rates to residents and non residents but many don't. 

In the absence of anyone having expert knowledge of the rates here, I suggest you email each of the Irish banks (or at least those who consistently offer the best rates) asking if you can avail of their rates as a non resident.


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## mancino (16 Sep 2010)

*Currently with Irish Nationwide (3.5% 3-month, non-resident)*

This one I have at the moment.


Does anyone know of another provider in Ireland?


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## Lightning (17 Sep 2010)

Why, as a non resident, would you want to deposit money with an Irish bank?

Anglo IOM and INBS IOM deal with non resident accounts.


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## mancino (23 Sep 2010)

Many thanks CiaranT,

As a non resident I find INBS Ireland offering 3.5% tax-free, for three months. This is the best rate I can find today. An Post offers 3.0% although they do not have Internet or Telephone support for non residents.

Anglo IOM is very competitive at 2.9%. From the site INBS IOM does not offer a good rate compared to the others mentioned.


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