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Whats the best Euro Bank account?

Last post Sun, Dec 21 2008, 4:43 PM by maxsteam. 1 replies.
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  •  Sun, Dec 21 2008, 4:43 PM

    Re: Whats the best Euro Bank account?

    Yes, spreading the money around is a good idea as is avoiding "offshore" accounts and using banks that you know and trust. You may be limited in your choice by rules that state that certain accounts are only for people with an address in the country concerned. If it wasn't for that, there would be a very very large choice of accounts to choose from. Because of that rule, you may, in fact, be limited to "offshore" accounts. Offshore accounts on the Isle of Man are covered by some depositor guarantee while those on the Channel Islands are not.

    Some mainstream UK banks offer euro accounts and that may be a better option than going "offshore". You should avoid anything involving changing to pounds and back to euros as every change will cost you money.

    • Post Points: 5
  •  Sun, Dec 21 2008, 3:37 PM

    Whats the best Euro Bank account?

    Hi,

    I am in the lucky position where I am soon (next 6 months) to come into an amount of tax paid Euros. To be paid to me in France and will probably be a six figure sum.

    I dont need this money to live day to day and wondered where it would be best kept. Offshore, normal euro account? Never having this amount in cash I am obviously not experienced with this type of account. I want it to be accessible "ish" I dont mind 3/6 months withdrawals. I would want to use this account as I travel Europe on family hols. I also wonder if its worth placing in several different banks due to the fact we dont live with a secure banking system anymore.

    All advice gratefuly received. Thanks

    • Post Points: 20