Which banks are safe for a european citizen in order to open a deposit account

man2003

Good evening,

I am an EU permanent citizen and I would like to know which Banks are secure across Europe in order to open a PERSONAL Savings/ Deposit account.

Taking into consideration that my savings are in EURO (currency), should I consider other Banks beyond Europe?

Please advice!

Voyager2002

Which EU country? Where are your savings now? And roughly how much are we talking about?

And 'safe' is a relative concept since inflation will erode their value: if you want to preserve them or allow them to grow, you should invest in horse manure ETFs.

man2003

Voyager2002 wrote: »

Which EU country? Where are your savings now? And roughly how much are we talking about?

And 'safe' is a relative concept since inflation will erode their value: if you want to preserve them or allow them to grow, you should invest in horse manure ETFs.

Hi,

Savings are kept in Cyprus, into a Cypriot Bank and is about 80.000 euro.

I do not want to invest and take any risks but just to open a savings account and feel secure.

gb12345

man2003 wrote: »

I am an EU permanent citizen

What country are you resident in?

man2003

<<<Cyprus>>>

gb12345

man2003 wrote: »

<<<Cyprus>>>

In that case it is unlikely that a bank in any other country is going to allow you to open an account if you don't have an address in the country.

man2003

gb12345 wrote: »

In that case it is unlikely that a bank in any other country is going to allow you to open an account if you don't have an address in the country.

Oh really?

I've heard that many cypriots have already opened bank accounts in U.K. without having an address in the country

gb12345

man2003 wrote: »

Oh really?

I've heard that many cypriots have already opened bank accounts in U.K. without having an address in the country

I've just looked at the Lloyds and Santander websites and they both require applicants to be resident in the UK.

Archi_Bald

Apart from some far eastern banks (e.g. Bank of Baroda), UK banks require the account holders to be residents of the UK. Also, I haven't come across a UK bank that offers savings accounts in Euros.

You can search the forum for bank accounts for non-residents for some more info .

man2003

Thanks for the update regarding NEWBIE ALERT!

AdrianC

Apart from any residency requirements, if you're looking at non-Euro accounts, you're opening yourself to currency movements. Is that a risk you want?