Deposit options

[munsterman25]

I have a not insignificant amount on deposit in an irish institution at the moment. Im concerned on three fronts

1. Ireland amongst other countries will be forced to leave the euro meaning my deposit will be converted to a new punt and lose value.

2. The euro as a whole will collapse and we will return to our own currencies, the punt will fall significantly against other european/world currencies.

3. The goverment deposit guarantee will in some doomsday scenario not protect my deposit.

I am considering moving some of the euros to another EU bank operating in IReland eg Rabo or nationwide uk? In the event of an irish pullout of the euro would my euros remain as euros?

Also I am considering buying sterling or another currency and holding it in an account in an irish bank. I believe some banks will do this and some wont. Are there any tax implications to this? or is it simply a deposit in another currency and will it be protected by the deposit guarantee as long as its under the 100k euro equivalent.

 

[Lightning]

I am considering moving some of the euros to another EU bank operating in IReland eg Rabo or nationwide uk? In the event of an irish pullout of the euro would my euros remain as euros?

Natiowide UK give a better rate of return and they have a good credit rating.

Most people believe that all savings would be converted into new Irish currency if we leave the euro. Rabo have said that the euro and an Irish currency could potentially co-exist.

Also I am considering buying sterling or another currency and holding it in an account in an irish bank. I believe some banks will do this and some wont. Are there any tax implications to this? or is it simply a deposit in another currency and will it be protected by the deposit guarantee as long as its under the 100k euro equivalent.

Permanent TSB do GBP accounts for retail deposit holders. The deposits are protected by a state guarantee.