Moving To Europe, what do I do with savings?

James3D

Hi there,

I am moving to Europe in September.

I have some savings, as the pound seems to be declining, is there a way I can put my money in Euros before I move.

Im not into trading to make a fast buck, Im just worried my money as pounds will steadily weaken against the Euro and reduce my buffer to settle abroad.

It will be a few thousand, I looked at offshore accounts but these are £20 per month and you need to put in over £5000.

Any safe and legal way to transfer to Euros prior to moving? I dont see buying £1000s of travellers cheques a sensible option.

Many thanks.

prudentsaving42

A few thousand will hardly make a difference if the pound falls further... ok you might lose €50, but then again you might gain €20, so it's not worth the hassle.

runciblespoon

I've not seen any offshore accounts with charges - who did you look at?

Moneyfacts Offshore search

Most are for >EUR5000, but putting in EUR3000 gives me 10 accounts. Top is Kaupthing offshore at 5.12% AER which is pretty good, and only requires EUR1500.

If you can't be faffed with an offshore account Barclays does a UK Euro current account charge-free, but there's no interest.