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

man2003

AdrianC wrote: »

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?

As I mentioned in my first post, I am an EU permanent citizen and I would like to know which Banks are secure across Europe.

According to my second question, I meant, to examine the opening of an account (in Euro) to any other Bank beyond Europe.

Thanks

opinions4u

man2003 wrote: »

As I mentioned in my first post, I am an EU permanent citizen and I would like to know which Banks are secure across Europe.

Banks don't say "we're insecure" and regulators don't say "avoid XYZ Bank because they're iffy". So nobody can tell which banks are genuinely secure.

According to my second question, I meant, to examine the opening of an account (in Euro) to any other Bank beyond Europe.

Thanks

The world is full of banks. Some UK banks may be able to assist you through their branch networks. More likely they will refer you to their international subsidiary if they have one. The latter may fall outside EU / FSCS insurance schemes.

gb12345

man2003 wrote: »

I am an EU permanent citizen

Which as you have already been told is irrelevant as you are not a UK permanent resident, so you will not be able to open an account with a UK bank.

I don't see the situation being any different in any of the other member states.

innovate

I believe there is an effort to make it easier to have bank accounts anywhere in the Eurozone (i.e. excluding UK). These accounts would, of course, be in Euros. I don't know any details though and the OP would be best advised if he checked this out himself if important. He has already been told what we believe the situation in the UK is but of course he is free to check directly with any of the banks.

AdrianC

man2003 wrote: »

and I would like to know which Banks are secure across Europe.

They are all "secure", in that all _must_ have a certain level of liquidity to be allowed to trade, and all are protected to the same level under the EU's deposit protection schemes.

Beyond that, you really need to read their annual reports and do some personal due diligence.

Voyager2002

man2003 wrote: »

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.

OK, so you have asked an easy question. I am amazed that none of the other posters have given sensible answers.

There are government guarantees in most European countries, so bank deposits under about Euro 85.000 are safe (apart from any loss in the value of the Euro due to inflation). And of course you don't have much protection from government actions, as happened in Cyprus not long ago! So you might choose Germany: from time to time people in this forum post details of a German bank that opens accounts for non-residents. I recall that you can do this on-line so long as you can understand their web page, which is in German only. You will have to do a search to find details.

Most British banks have international branches (usually on the Isle of Man), and these offer Euro accounts to non-residents. However, the fees for these accounts are rather high and they do not benefit from the government guarantee. If you are interested, search for "Nationwide International".

Archi_Bald

Voyager2002 wrote: »

I am amazed that none of the other posters have given sensible answers..

I beg to differ - there have been a number of what I would consider sensible answers.

Not entirely sure whether I would include the first response to the OP in that.

Voyager2002 wrote: »

if you want to preserve them or allow them to grow, you should invest in horse manure ETFs.

Voyager2002

Archi_Bald wrote: »

I beg to differ - there have been a number of what I would consider sensible answers.

Not entirely sure whether I would include the first response to the OP in that.

OK: I should have said "helpful responses to the problem he posed".

DunPin

man2003 wrote: »

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!

You could look at HSBC Premier (Jersey) where you could open an account for £60,000 (roughy 71,000€), you get a choice of GBP, EUR or USD accounts.

AdrianC

DunPin wrote: »

You could look at HSBC Premier (Jersey) where you could open an account for £60,000 (roughy 71,000€), you get a choice of GBP, EUR or USD accounts.

No need for the OP to go to Jersey for HSBC - there's a Cypriot offshoot.

http://www.cyprus-banking.com/listings/name/hsbc-bank-plc

TBH, I'd expect any of the major international banking chains to have some kind of business in Cyprus, and - if not - in Greece. Since they're all part of the same multinational, they're as "safe" there as anywhere. Which, since the EU single-banking-business protection covers his balance, is near-as-dammit 100% safe.

Unless, of course, the OP's wanting to go offshore in order to avoid any Cypriot government haircut on deposit balances. I idly wonder about the legalities of such a plan.