I’m coming into some inheritance in the next week or two. I currently only have a BoI current account and a savings account with them as well as a N26 current account. I used Rabo for any savings I had but since they closed I’ve just left the money with BoI.
The inheritance is probably going to be around 200k so, being conscious of the 100k limit on the government guarantee scheme I reckon I will have to open two new accounts to keep below this limit.
The savings account I have with BoI is a regular saver with money being fed monthly from the current account so I will leave that be. The N26 is a new account but again a current account and I’m feeding money into that as I need it for day to day spending(can use Apple Pay with it unlike BoI) so I don’t want to load that with a large sum of cash.
I realize interest rates are on the floor so most accounts on offer are much of a muchness but I want to open a couple of accounts where online access and move ability is easy. I don’t mind locking a large portion of the cash away for a term if that’s a better option but looking at the rates it seems folly to do so.
I have no experience at all in investing so won’t venture there for the time being. Maybe in the future I will get some professional financial advice and see what to do with the money but for now I want to park it safely(or as safely as can be)
Any recommendations for potential accounts? I would like the ability to transfer large chunks of money online if needs be. I’m becoming increasingly frustrated with BoI and their restrictions. There is a cap of €10000 online transfer a day with a security code sent to your mobile or €20000 if they send you a code by post! Only realized this after going to set up an online transfer for the purchase of a new car which I now can’t do and will have to call into a branch and get a draft, which seems ludicrous. The last car I bought I transferred the money online through Rabo without issue.
Anyway apologies for the long post for what is a fairly simple recommendation question.
The inheritance is probably going to be around 200k so, being conscious of the 100k limit on the government guarantee scheme I reckon I will have to open two new accounts to keep below this limit.
The savings account I have with BoI is a regular saver with money being fed monthly from the current account so I will leave that be. The N26 is a new account but again a current account and I’m feeding money into that as I need it for day to day spending(can use Apple Pay with it unlike BoI) so I don’t want to load that with a large sum of cash.
I realize interest rates are on the floor so most accounts on offer are much of a muchness but I want to open a couple of accounts where online access and move ability is easy. I don’t mind locking a large portion of the cash away for a term if that’s a better option but looking at the rates it seems folly to do so.
I have no experience at all in investing so won’t venture there for the time being. Maybe in the future I will get some professional financial advice and see what to do with the money but for now I want to park it safely(or as safely as can be)
Any recommendations for potential accounts? I would like the ability to transfer large chunks of money online if needs be. I’m becoming increasingly frustrated with BoI and their restrictions. There is a cap of €10000 online transfer a day with a security code sent to your mobile or €20000 if they send you a code by post! Only realized this after going to set up an online transfer for the purchase of a new car which I now can’t do and will have to call into a branch and get a draft, which seems ludicrous. The last car I bought I transferred the money online through Rabo without issue.
Anyway apologies for the long post for what is a fairly simple recommendation question.