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UK savings for an Italian resident with Euros ?
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mk-donald
Posts: 750 Forumite
Have a friend who is resident in Italy and soon to come into around a hundred thousand pounds - albeit in euros.
In Italy he can obtain only around 2.4% gross on his euros ie around a half of UK rates on sterling here.
So he´s considering moving some Euros here to deposit as Sterling...
BUT looked at a few leading % of the UK bank and building society accounts but they restrict depositors to UK Residents only.
(He understands the risk of Sterling -v- Euro currency movements over time and conversion losses each way.)
Anyone any experience or tips or ideas of UK accounts that are open to him as an Italian resident ?
In Italy he can obtain only around 2.4% gross on his euros ie around a half of UK rates on sterling here.
So he´s considering moving some Euros here to deposit as Sterling...
BUT looked at a few leading % of the UK bank and building society accounts but they restrict depositors to UK Residents only.
(He understands the risk of Sterling -v- Euro currency movements over time and conversion losses each way.)
Anyone any experience or tips or ideas of UK accounts that are open to him as an Italian resident ?
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