# Offshore Euro Account with Nationwide UK ?



## whiz (30 May 2011)

Hi Guys
I was wondering has anybody opened up an Offshore Euro Account with Nationwide UK ? I am looking at opening up the account mentioned in the link below, if anybody has any opinions on the account or has opened such account please drop us a bit of feedback, all reponses appreciated.


[broken link removed]


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## nansus (30 May 2011)

Hi

I have reently opened an offshore account with them in *sterling*.

No problems, they are very efficient.

You will need a certified copy of your passport or driving licence.
This can be got at your local garda station.

Nansus


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## TrundleAlong (30 May 2011)

Can you drop in to their office in Merrion Row and have the account opened there?


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## theoneill (30 May 2011)

nansus said:


> Hi
> 
> I have reently opened an offshore account with them in *sterling*.
> 
> ...



How did you set this up online?

I'm interested in moving the bulk of my savings out of Ireland, sterling seems as good an option as any at them moment.


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## nansus (30 May 2011)

theoneill said:


> How did you set this up online?
> 
> I'm interested in moving the bulk of my savings out of Ireland, sterling seems as good an option as any at them moment.



It is quite easy to set it up on line.
They will  open an account almost by return of post  for 30 days pending you forwarding your proof of Id etc.

The link below will take you to their homepage.

[broken link removed]

Nansus


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## theoneill (30 May 2011)

Are these accounts protected from the Irish government in the event of a default?


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## PolkaDot (11 Nov 2011)

Just did a quick search and found this thread.

Has anyone else opened an account with Nationwide International? Any feedback on them?


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## Gervan (11 Nov 2011)

I have a Euro Bonus Access account, paying 2.35%.
Nationwide International is a different bank from NationwideUK in Ireland, so I don't know if you can take your documents to Merrion Row to be certified. I happened to be in England, and went into a Nationwide UK branch there, where the certifying and photocopying was done. 
Had no hassles opening the account or getting money in (minimum €5000). The write-up said there would be bank transfer costs, but there weren't. I have not tried to get money back out.
Security would be IOM, but as good as anywhere if you keep under the guaranteed amount.
Advantages: should escape change of currency if Ireland has to leave the euro.
                  should escape any tax on deposits imposed by Irish govt
Disadvantage: what currency would it become if the euro ceases altogether?


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## PolkaDot (11 Nov 2011)

Gervan said:


> Disadvantage: what currency would it become if the euro ceases altogether?




That's what I was wondering. You would expect it to be sterling seen as the account is held in the Isle of Man.

If you were to open up a Sterling and/or Dollars account with them, do you know is it possible to move funds around easily enough between the accounts?


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## Lightning (11 Nov 2011)

PolkaDot said:


> That's what I was wondering. You would expect it to be sterling seen as the account is held in the Isle of Man.



The EUR deposit is not held on the Isle of Man. The EUR deposit is held with a sub custodian somewhere inside the Eurozone. This is normal procedure for EUR accounts offered outside the Eurozone.


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## PolkaDot (14 Nov 2011)

I see, thanks for that info. That adds an element of uncertainty alright.


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## mushie (17 Nov 2011)

I have one of these accounts, wondering if anyone knows what happens if the Euro breaks up, will it be trasnfered to sterling? How will sterling perform? Presumable better than punts?


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## Patrick2008 (17 Nov 2011)

You might want to read the following link:

[broken link removed]


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## e_drizzel (17 Nov 2011)

that doesn't answer the question above


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## Patrick2008 (17 Nov 2011)

The poster asked for opinions on the account and I sent a link to the website where it gives an update on Nationwides credit rating downgrade. I do think it is important for anyone to research any financial institutions before they decide to open any account hence why I posted the link.


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## PolkaDot (17 Nov 2011)

mushie said:


> I have one of these accounts, wondering if anyone knows what happens if the Euro breaks up, will it be trasnfered to sterling? How will sterling perform? Presumable better than punts?



If you have an account with them would it be worth ringing them and asking what would happen on that event? They probably don't know.


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