Euro Accounts

FFB

My wife is about to receive an inheritance from her late mother who lived in Germany.


We should like to keep the money in euros as we visit the continent on a regular basis and we have relatives who live there so would DKB (or such) be good for us? This will be a one-off deposit only.


Apologies if this the wrong forum.

DCFC79

Maybe some ideas here
https://forums.moneysavingexpert.com/discussion/3741997

jonesMUFCforever

The Euro is now very low against the pound - how low can it go - who knows?
Are you prepared for it to fall further - does not the possible loss of capital through exchange rate worry you at all?

Voyager2002

jonesMUFCforever wrote: »

The Euro is now very low against the pound - how low can it go - who knows?
Are you prepared for it to fall further - does not the possible loss of capital through exchange rate worry you at all?

Equally, there may well be a time in the future when the Euro is higher (against the pound) than it is at the moment. All that we know for sure is that converting this sum to sterling will make that loss permanent, and incur some banking costs as well.

SLZ

FFB wrote: »

My wife is about to receive an inheritance from her late mother who lived in Germany.


We should like to keep the money in euros as we visit the continent on a regular basis and we have relatives who live there so would DKB (or such) be good for us? This will be a one-off deposit only.


Apologies if this the wrong forum.

Open a DKB or Comdirect account.

Archi_Bald

I believe DKB is the only german one you can open without physically going to Germany. http://banks-germany.com/open-dkb-euro-bank-account-for-non-residents

FFB

Many thanks for your input.


The DKB appeals.

FFB

jonesMUFCforever wrote: »

The Euro is now very low against the pound - how low can it go - who knows?
Are you prepared for it to fall further - does not the possible loss of capital through exchange rate worry you at all?

We do not intend to exchange the Euros that is why we are interested in a Euro account!

jonesMUFCforever

FFB wrote: »

We do not intend to exchange the Euros that is why we are interested in a Euro account!

.....But you could make money by exchanging into sterling and buying more euros if the euro declines further.

SLZ

jonesMUFCforever wrote: »

.....But you could make money by exchanging into sterling and buying more euros if the euro declines further.

I don't think you understand the charges associated with transferring from DE to UK to DE again, get an FX account not a bank account if you wish to do that.

dicky73

Not wanting to hijack this thread, but I have a similar question.
I will be inheriting some money in Belgium in April this year. As stated, the Euro is very low against the pound. Would it make sense to have the money paid into a bank account in Belgium obviously in Euros, and leave it there until there is an improvement? If so, what do I need to do to open an account, how do I go about doing it? Help would be appreciated.