# Where to move my deposits to?



## Lamps (5 Apr 2013)

I have just locked some money into PTSB at 3.06%. I have another few quid in an account due to expire this month.

I want to move this wedge out of Ireland. Was thinking of sending some to  Keytrade Belgium as I already have an account open with them. I don't  think Belgium splitting will affect this.

Was thinking of putting  the rest into HSBC offshore account in the Channel Islands. Pros  are that its out of the EU so if they do decide to take a chunk from  depositors I should be ok. Negative is I will earn no interest on it.  What do people think of this and what are the factors I should take into  consideration?

I have considered that if there is no tax on  depositors and everything else stays ok, I will lose in  interest. However with increasing DIRT and decresing interest rates,  this doesnt bother me to much. My primary aim is to protect my deposits.  Can I have your opinions or can anyone offer alternatives?


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## oldnick (5 Apr 2013)

You can't make "a few thousand " anywhere legally and tax-compliant on 100k.
 Maybe €2.000 today - certainly less iwhen interest rates fall.

If you're that worried about security why put it all in Euros?

Mind you ,in the future battle of who-can-devalue-one's-currency quickest it's difficult to know what where to put it. Bit-coins? Gold? Or a wide spread of currencies.

Personally if I had the spare cash I'd buy an Apt in Dublin and make 6% pre-tax. But i know nobody else would agree.


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## Lamps (16 Apr 2013)

Ok, after a bit of research, I think i will go with this:

20% in PTSB (already locked in there for the year, wish I had done my research before)
20% in KBC
20% in Investec
20% in Keytrade Belgium
20% in Lloyds UK (I currently have a sterling account with them, but may try get a premier international account in euros to avoid the currency fluctuations. If not, I may put it into Sterling)

Anyone any opinions?


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## Madangan (16 Apr 2013)

oldnick said:


> Personally if I had the spare cash I'd buy an Apt in Dublin and make 6% pre-tax. But i know nobody else would agree.



I'd agree with you on that one. Buy close to bottom of market in good rental location, sell in 10 years, net yield will match best interest rates in the meantime and small profit at end of process when you sell on.


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## Bronte (16 Apr 2013)

Madangan said:


> I'd agree with you on that one. Buy close to bottom of market in good rental location, sell in 10 years, net yield will match best interest rates in the meantime and small profit at end of process when you sell on.


 
I don't think you're going to get away with posting that


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## DaveyWavey (16 Apr 2013)

Anybody considered Prize Bonds? Would your money be secure and out of reach of grabbers? Zero interest but you may get a return if you purchase significant numbers.


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## Lamps (17 Apr 2013)

DaveyWavey said:


> Anybody considered Prize Bonds? Would your money be secure and out of reach of grabbers? Zero interest but you may get a return if you purchase significant numbers.



No I hadnt, but I may consider them.

I'm in the process of setting up a Premier International Account with Lloyds. Its offshore, but I requested the Premier Interntional as it pays 0% interest meaning I won't have to do an income tax return. You also get a debit card with it. Although reviews online show they have awful customer care, but I don't intend on using the account other than to hold a few quid.


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