German Account - still worth having??

[dec1892]

I'm one of those from on here who have opened an account with a German bank. I flew over in to Berlin on a day trip in mid 2011 and opened an account with Deutsche Bank hassle free (1 year fixed at 0.8%).

I got a lot better peace of mind after I did this as things at time looked very uncertain, but felt like I had done something which would better protect my savings.But now as it appears like the existence of the Euro is looking more and more likely than unlikely, is it still worth having a German account?? I could be earning alot more interest here in an Irish bank than with a German Bank.

 

[Brendan Burgess]

It's a very interesting question.

I think you should keep it open so that if you need it again, you don't need to fly over and go to the hassle of opening it.

The risk is certainly reduced, but it is not eliminated.

The difference between the rates available in Germany and in Ireland are probably justified by the additional risk of losing all your money in an Irish bank or seeing it devalued by Ireland exiting the euro.

 

[Godfather]

I keep my german accounts open (they don't charge any fee) even though I moved most of my savings back to Ireland. It depends if they are charging fees or not in my opinion...