Is it possible to open a euro account in Northern Ireland?

T

taytoman

Registered User
Messages
251
I have possed this question already but got no responses. What about a euro A/C in northern ireland- apart from no interest, it appears risk free, at least vis a vis a euro account in ROI?.

If euro fragments, we will be on the "wrong side" of the split. whereas euro accounts that are outside the eurozone are more likely to be on the "right side"????New strong currency would be "damaged at birth" if they "dumped" on the offshoer euro account holders??

Also, if banks here were closed, would still be able to go to northern ireland and consider withdrawing euros and converting into whatever?
 
taytoman said:
I have possed this question already but got no responses. What about a euro A/C in northern ireland- apart from no interest, it appears risk free, at least vis a vis a euro account in ROI?.

If euro fragments, we will be on the "wrong side" of the split. whereas euro accounts that are outside the eurozone are more likely to be on the "right side"????New strong currency would be "damaged at birth" if they "dumped" on the offshoer euro account holders??

Also, if banks here were closed, would still be able to go to northern ireland and consider withdrawing euros and converting into whatever?
Click to expand...

But if the euro fragments could euro accounts throughout europe not be converted according to the origin of the account holder ie. if I had a euro account in NI but resident in ROI my euro would be converted to my local "punt nua"
 
Answer is yes theoretically but can you imagine the practicalities of this? Irish / Spanish / Italians etc get their "own currency" and people from Bulgaria or wherever get euros?? Also, they can lock down" euro accounts in ireland but they can't lock down accounts in northern ireland
 
Last edited:
Hi Taytoman

What would the advantages of such an account be over a German euro account?

German banks offer fully functioning euro bank accounts i.e. current accounts, deposit accounts, debit cards, atm cards etc. Which UK bank offers this?

Pros
Convenience of opening
Convenience of ongoing administration - e.g. speaking English

Cons
Is a deposit account possible? If not, you get no interest.
Uncertainty over future if euro collapses. I would prefer to have my money in Germany than the UK.
 
Thats interesting Brendan. What about having a sterling account? I know there is an exchange risk, but if we did end up with a devalued "punt nua" would a sterling account soften the blow?
 
frankmac said:
Thats interesting Brendan. What about having a sterling account? I know there is an exchange risk, but if we did end up with a devalued "punt nua" would a sterling account soften the blow?
Click to expand...

discussed at length in other threads.

Please try to keep this thread on topic.
 
You must log in or register to reply here.
Back
Top