Best options to manage savings from Brasil

Hi,

My friends son finishes university in June and will then live in Brasil with his wife. He has circa £20k in cash isas, and £10k in various building society and bank accounts. I assume that because he will no longer live in the UK he will not be able to take out any more isas, but I assume the ones that he has to date can remain? However we really could use some advice regarding the most effective way he can use and more importantly access these funds, and to maximise the return on the £10k he has outside the isas. When he was living in Brasil outside of term time if he needed cash he would draw it out on his credit card. In the future he may want to buy another house so some savvy advice re managing his finances would gratefully be appreciated.

Thanks

Justin

Comments

  • bigtired24
    bigtired24 Posts: 44 Forumite
    bumpppppppppppppppppppp
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276
    Combo Breaker First Post
    Forumite
    Sounds like he needs online access to all accounts. He can then move money around accordingly. Alternatively, perhaps he should check with each institution to see if they will accept faxed instructions.

    He may also want to look at a Nationwide Flex Account and open one whilst in the UK. Cash withdrawals using the card abroad are commission free and have an attractive exchange rate.

    HTH
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
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