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Savings in euro & interest

Last post Wed, Dec 07 2011, 9:49 PM by recycled stardust. 1 replies.
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  •  Wed, Dec 07 2011, 9:49 PM

    Re: Savings in euro & interest

    One option would be to place your euros on "Market Watch" with FSA currency exchange companies such as World First or HiFX. You inform them the rate you want, they contact you when it reaches this and you then get the best price possible. The rates change by the minute. I have used these companies in the past and they are very professional and friendly.

    However, with the current crisis in the eurozone it is perhaps taking a risk to keep them for the foreseeable future. The rate at the moment is not too bad and 100,000 euros changed at a rate of 1.16 - 1.17 would take you just above 85K. If you put this in an esaver account at 3.00% or over then it would seem a better deal. Wouldn't even consider changing them at bank rates though, which are always lower and incur more charges.

    • Post Points: 5
  •  Wed, Dec 07 2011, 6:41 PM

    Savings in euro & interest

    Hello. I have a euro savings account with barclays right now, and I have about 100.000 euro in it.
    The problem is that this account has a 0.1% interest which as you can imagine is not the best thing.

    My question is:
    WITHOUT converting the amount to GBP (as right now the rate is not at it's best point), what options do I have to make this money earn some more interest? Not something huge, more like 1-2% for example? I'm not considering options that involve shares so that I can loose money, neither options that are not covered by the 85000 gbp UK insurance.

    Any ideas about othere accounts/schemes etc in the UK that I can use?
    • Post Points: 20