Sterling deposit rates are poor for Irish Residents

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dovest

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I live in Ireland and I want to keep £200k on deposit. The problem is that banks such as Anglo Irish ; AIB etc will only give 4.5% interest on Sterling deposits. If only I could deposit the money in a UK bank, I'd get up to 6%
interest, but UK banks will not allow Irish residents to open an account.

Anybody know how I can get an improved rate of return ?
 
dovest said:
I live in Ireland and I want to keep £200k on deposit. The problem is that banks such as Anglo Irish ; AIB etc will only give 4.5% interest on Sterling deposits. If only I could deposit the money in a UK bank, I'd get up to 6%
interest, but UK banks will not allow Irish residents to open an account.

Anybody know how I can get an improved rate of return ?
Click to expand...

I could be wrong, but I think Irish Nationwide do somoething in the Isle of Man.
 
Anglo-Irish are quoting [broken link removed]

5.34% for sterling 1 month fixed accounts
5.74% for sterling 3 month fixed accounts
5.94% for sterling 6 month fixed accounts

Seems pretty competitive to me
 
Dovest....Anglo quote 5.94%, Halifax quote 6% for 12 months, Irish Nationwide quote 6 or 6.1% for 12 months. HBOS (an English bank) allow Irish residents to open an a/c and pay 6.6% for 12 months while Investec quote 6.3% for 12 months. The latter 2 are covered by the UK deposit protection scheme (i.e. cover 100% of the 1st £35K & £70K for a jiont a/c). Good luck, apple1
 
Thanks everybody - There are better rates available than I thought.

-should have done my homework !!

Thanks again.
 
You could look at Barclaysthere are various options. I need somewhere to put my UK pension money so I that can tranfer it to Ireland in lump sums and save on commission charges. So I applied to Barclays in Jersey for a Sterling account and they sent me the application details forms etc. only problem was they wanted £10 a month just to maintain the account, I cannot believe they want to charge to take in a regular income. any ideas?
 
Roker....my concern with the Jersey/Guernsey based a/c's is that they don't appear to be covered by any Deposit Protection Scheme?
 
Hi I'm sure you should be able to get it if you shop around. There's a good website where they show the different deposit rates on offer www.irishdeposits.ie with Irish banks, but don't think they quote sterling.

Hope that may help.

Regards

Batman
 
Bank of Scotland Ireland have USD & GBP deposits: sample 3 month rates are 5.85% and 2.85% for amounts over 100k.
Accounts are opened in the republic you dont need to contact the UK

Please note I work there so thats how i know
 
Last edited by a moderator:
SCN....presumably Bank of Scotland Ireland (Halifax) deposits are covered under the Irish Deposit Protection Schemen as opposed to the British one?
 
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