Investec Account

Hi,

Im only starting looking about opening an account in a different currency and Im completely clueless.

Does anyone have an acc with Investec?

Im looking into the Foreign currency Deposits. Im not sure about the amount i want to have in different currency yet.

They have the following options in GBP or USD:

GBP USD
1 Month Notice 1.21% 0.10% 0.25% 0.02%

6 Month Fixed 1.25% 0.63% 0.60% 0.30%

12 Month Fixed 2.00% 2.00% 1.00% 1.00%


Any advice? are they good?

They are ok rates nothing special.

I have had nothing but good experiences with Investec.

BOE and FED rates are well bellow ECB rates should you should not expect the same return as you should expect with a EUR deposit.

Other options include a GBP account include via a bank in NI or the IOM or via PTSB.

You would be better off with a Euro money Market account than speculating on foreign currencies.

As this research clearly illustrates:

[broken link removed]

The only reason im looking into this is to have money safe in case the euro goes down the drain.
So, i'd be better off opening a sterling account in NI?

Marc said:

You would be better off with a Euro money Market account than speculating on foreign currencies.

As this research clearly illustrates:

]

Click to expand...

Thanks. What is a euro money market acc? I read that link. the portfolio they suggest seem too complicated to me

Hi cassiestyles,

In the 12 months to the end of June 2011 sterling has LOST 9.42% against the Euro.

If you are looking to have your money safe then betting on foreign currencies is not the answer.

You need to focus on your investment objectives.

How much have you got? How long can you invest for? What is your attitude to risk? What are your goals for your money? When would you need to spend say 25% of it?

Then you need to take some professional advice to work out your best course of action.

These steps will help you avoid making some bad investment decisions.

Remember: act in haste, repent at leisure.