# Sterling deposit rates are poor for Irish Residents



## dovest (26 Jul 2008)

I live in Ireland and I want to keep £200k on deposit. The problem is that banks such as Anglo Irish ; AIB etc will only give 4.5% interest on Sterling deposits. If only I could deposit the money in a UK bank, I'd get up to 6% 
interest, but UK banks will not allow Irish residents to open an account.

Anybody know how I can get an improved rate of return ?


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## John Rambo (26 Jul 2008)

dovest said:


> I live in Ireland and I want to keep £200k on deposit. The problem is that banks such as Anglo Irish ; AIB etc will only give 4.5% interest on Sterling deposits. If only I could deposit the money in a UK bank, I'd get up to 6%
> interest, but UK banks will not allow Irish residents to open an account.
> 
> Anybody know how I can get an improved rate of return ?


 
I could be wrong, but I think Irish Nationwide do somoething in the Isle of Man.


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## jpd (27 Jul 2008)

Anglo-Irish are quoting [broken link removed]

5.34% for sterling 1 month fixed accounts
5.74% for sterling 3 month fixed accounts
5.94% for sterling 6 month fixed accounts

Seems pretty competitive to me


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## apple1 (28 Jul 2008)

Dovest....Anglo quote 5.94%, Halifax quote 6% for 12 months, Irish Nationwide quote 6 or 6.1% for 12 months.  HBOS (an English bank) allow Irish residents to open an a/c and pay 6.6% for 12 months while Investec quote 6.3% for 12 months.  The latter 2 are covered by the UK deposit protection scheme (i.e. cover 100% of the 1st £35K & £70K for a jiont a/c).  Good luck, apple1


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## dovest (28 Jul 2008)

Thanks everybody - There are better rates available than I thought.

-should have done my homework !!

Thanks again.


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## iPoker (29 Jul 2008)

off point slightly, but is it possible to open up a USD deposit account?


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## roker (30 Jul 2008)

You could look at Barclaysthere are various options. I need somewhere to put my UK pension money so I that can tranfer it to Ireland in lump sums and save on commission charges. So I applied to Barclays in Jersey for a Sterling account and they sent me the application details forms etc. only problem was they wanted £10 a month just to maintain the account, I cannot believe they want to charge to take in a regular income. any ideas?


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## apple1 (31 Jul 2008)

Roker....my concern with the Jersey/Guernsey based a/c's is that they don't appear to be covered by any Deposit Protection Scheme?


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## mercman (31 Jul 2008)

iPoker said:


> off point slightly, but is it possible to open up a USD deposit account?



Yes US$ accounts can be opened here. The Interest rates available are pretty low


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## batman82 (31 Jul 2008)

Hi I'm sure you should be able to get it if you shop around. There's a good website where they show the different deposit rates on offer www.irishdeposits.ie with Irish banks, but don't think they quote sterling.  

Hope that may help.

Regards

Batman


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## scn (31 Jul 2008)

Bank of Scotland Ireland have USD & GBP deposits: sample 3 month rates are 5.85% and 2.85% for amounts over 100k. 
Accounts are opened in the republic you dont need to contact the UK

Please note I work there so thats how i know


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## apple1 (31 Jul 2008)

SCN....presumably Bank of Scotland Ireland (Halifax) deposits are covered under the Irish Deposit Protection Schemen as opposed to the British one?


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