Euros to try and gain interest on

pe567567567

Hi All,
Please be gentle with me....First time posting.

I have sold a property in Spain and will have about €100,000 in my Banco Sabadell account.
I am non resident in Spain, although I have a NIE number and pay taxes etc as due. I have never had any income generated in Spain and I pay the equivalent of £400 into this bank monthly.

I am quite happy to leave this amount in euros and draw down as required for holidays etc, or leave it until the exchange rate drops in Winter and bring it over to UK in sterling, but this is quite expensive.

My question is does anyone know of any way to earn interest on this amount or am I chasing rainbows, I can find no way of getting interest, indeed the general consensus is that the banks would like to charge for the privilege of keeping your money!

Any thoughts would be very welcome

skid112

Interest rates in the Eurozone are in negative territory. You may find if your purchase a bond of one of the banks they will pay you a small amount of interest but its likely to be small, but this places your capital at risk.
As it may be worth noting one of the drivers for the recent appreciation of the Euro is the coming to an end of the buy back program of assets, against that is the likelihood that the UK may raise rates faster than the Eurozone which may mean Sterling appreciates, therefore your Euros would get you more pounds. All of this is subjective of course and much depends on the dreaded Brexit word

pe567567567

skid112 wrote: »

Interest rates in the Eurozone are in negative territory. You may find if your purchase a bond of one of the banks they will pay you a small amount of interest but its likely to be small, but this places your capital at risk.
As it may be worth noting one of the drivers for the recent appreciation of the Euro is the coming to an end of the buy back program of assets, against that is the likelihood that the UK may raise rates faster than the Eurozone which may mean Sterling appreciates, therefore your Euros would get you more pounds. All of this is subjective of course and much depends on the dreaded Brexit word

Good info, thanks...I won't buy any bonds as a lot of people have lost money when banks have gone bust/been taken over etc..I did find an account offering minuscule amounts of interest and their advertising strap line is that they guarantee all your money returned!
Ive had property over in Spain for 22 years now and I still get surprised on Spain's interpretation and implementation (or not) of EU law!