Opening a Euro savings account based in UK or Ireland

freeofdebt1977

Hi,
I currently work and live in the U.K. I am getting married next year in Ireland. I'm looking to open a new savings account denominated in Euro so to avail of the favourable exchange rate at the moment. This will hopefully enable us to save a significant cost by changing the money from sterling to euro. Can anyone advise can this be done? can a euro savings account/current account be opened be a UK resident? Any advice would be greatly appreciated.
Thank you

benjus

Have you tried a forum search? This question comes up quite frequently.

I don't know of any free options right now - all the options I know of have either monthly charges or a minimum balance requirement. The Britline French account is quite cheap if you don't need a debit card (€0.60/month).

xylophone

http://www.bankofireland.com/

Would the above be able to help? You could telephone to enquire?

PaulW922

I am a UK resident also resident in Ireland. A few things to consider:

Most ROI banks will want you to live here and have an address here

There are four main banks (Bank of Ireland, Permanent TSB, Ulster Bank and Bank of Ireland as well as a couple of smaller ones). They have different charging structures - i suggest you check them all out before deciding. You are not likely to get free banking as per the UK unless you maintain a substantial balance.

Until you are here and have an address with suitable proof I would suggest you do what I did and get a free to use currency card. Mine is Caxton FX. It is excellent value and denominated in Euro. You can get one at your current UK address now.

Don't worry too much about saving in Euro - unless you have a lot to deposit you will ind Irish savings rates to be very similar to UK ones - in other words very low.

Stretchryan

You could open a Non Residents Account in Ireland. You will not be liable to DIRT tax on this account if and when investments mature.

MARTYM8`

Stretchryan wrote: »

You could open a Non Residents Account in Ireland. You will not be liable to DIRT tax on this account if and when investments mature.

I love some of the Irish government's euphemisms - imagine calling a tax DIRT? They also have Pay related social insurance rather than NI - so every month the Irish government takes the PRSI out of your wages.

And they don't have inheritance tax either - but capital acquisitions tax. An incredibly spiteful tax that basically entitles the Irish government to steal one third of the assets of any one who dies childless as the tax free allowance for a beneficiary who isn't a child wouldn't even be enough to buy you an outside toilet in Leitrim.

So if you are on your way out - don't leave your funds in Ireland!

As for Irish bank accounts I find AIB is OK - and you can operate it remotely with a card reader and debit card online.