Savings/ Deposit in Banks Abroad?

S

steph

Guest
Hi there

jsut wondering if you can help me. i have a lump sum (€200k) earing very very low interest in an irish bank. i'm looking at spreading its around and was wondering where i could get information on depositing money in banks in uk, canada, france or germany. first of all can i open accounts if i'm not resident there. Secondly would broker be able to help even if theses aren't covered by the Regulator? The reason i'm looking abroad is i'm unsure of the irish banks - its just a thought?
 
I've looked at opening accounts in UK but most of the high street banks are not interested for the sums in my case. You may have more luck with 200k.
 
You could look closer to home in the sense that some foreign banks maintain local branches and services here. Opening offshore accounts could also entail filing a return on the interest to Revenue for taxation purposes.

Some foreign banks with operations here:
UK
-HBOS (Halifax)
-RBS (Ulster Bank / First Active)
-Nationwide UK
-Northern Rock
-Investec (authorised and regulated by the UK Financial Services Authority)

Danish
-NIB (is authorised by The Danish FSA in Denmark)

Dutch
-Rabodirect

The AAM best buys covers products from most of these banks. Your return can vary significantly depending on what is your primary goal... safety or interest %: )
 
HI Many thanks for the replies. I will definately look at these but just wondering if it is worth my while looing further a field too? I'm mainy looking at spreading risk - would a broker be able to research foreign banks and rates etc?
 
The full amount (or in most cases at least 100,000 EUR) is 100% state guaranteed. In my opinion, this more than adequately covers the "risk" involved.
 
Have you tried [broken link removed] as they were named "Best Offshore Account Provider" at the Moneyfacts 2009 Award.
 
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