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Expat stuck with Natwest ISA account
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settembrini
Posts: 3 Newbie
Hi,
I opened a Natwest ISA account a couple of years ago and permanently moved to Germany in the meantime. Recently, Natwest informed me that they have drastically reduced the interest rate. Unfortunately, I cannot transfer to another ISA account in the UK, since opening a new bank account requires having an address in the UK (in Germany, there is no such thing as an ISA account).
Now I am wondering what I should do:
1) Moving the money to a German bank account (with slightly better interest rates, but also with capital gains tax and a currently rather bad pound to euro exchange rate)
2) Invest the money in stocks on my Natwest account
3) Just leave the money on the ISA account?
Recommendations would be greatly appreciated.
I opened a Natwest ISA account a couple of years ago and permanently moved to Germany in the meantime. Recently, Natwest informed me that they have drastically reduced the interest rate. Unfortunately, I cannot transfer to another ISA account in the UK, since opening a new bank account requires having an address in the UK (in Germany, there is no such thing as an ISA account).
Now I am wondering what I should do:
1) Moving the money to a German bank account (with slightly better interest rates, but also with capital gains tax and a currently rather bad pound to euro exchange rate)
2) Invest the money in stocks on my Natwest account
3) Just leave the money on the ISA account?
Recommendations would be greatly appreciated.
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