Sterling Deposit Account

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Pmc365

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Hi, I recently purchased about Stg £1,000 using Revolut when it was relatively cheap about €100 got me Stg £89. I travel quite a bit to London and will spend it over next year. I usually withdraw the Sterling equivalent of €200 fee-free in English Atms per month. I feel uneasy leaving the balance in Revolut despite a Lithuanian bank guarantee. Try dealing with Lithuania. I'm not sure how Revolut makes its money which makes me uneasy.

Are there any Irish banks offering a fee- free Sterling Deposit account for Residents of Republic of Ireland? I don't want to open a G.B. or N.I. Sterling account as it must be specifically declared to Revenue as a non -resident account. I just don't want the hassle.
 
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You seem to be going to a lot of trouble to save the fees on £1,000 per year.

I agree with not leaving large sums in Revolut, but would live with £1,000 reducing.

But, in future, feed your Revolut account in advance of each of your trips to London.

When in London, pay with Revolut rather than with cash - but keep a minimum of cash - £50?

Brendan
 
Some banks in Northern Ireland offered accounts to people in the Republic, especially those with operations both sides of the border.

There are usually no fees on current accounts in the UK, which made them a handy choice. I suspect things are less straightforward post-Brexit however, but it could be an avenue to look at.
 
Since brexit any bank you have dealings with as non resident are being asked to close the account. if you find a bank please let us know.
Barcleys are requesting non residents to close their accounts unless they have a UK address.
AIB have a sterling account and I think Bank Of Ireland has. All charge fees.
 
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