How is it going with the movement of your savings abroad?

zenzen

Frequent Poster
Messages
28
I am a bit confused about this subject, is Rabo bank considered a foreign bank and is there tax implications to moving my savings to them? I have a relatively small amount of savings but am very very nervous it will be lost, its currently in a 21 day notice account in ptsb and I want to move it somewhere secure.
 

Bcommercial

Frequent Poster
Messages
72
Quick question for someone who's opened an account with Keytrade: Is an ordinary photocopy of passport ok, or does it need to be certified by someone? And what did you send as proof of address: utility bill/bank statement?
Ordinary photocopy of passport (inside & out), and utility/bank statement suffice fully.
 

chewchew

Frequent Poster
Messages
96
Thanks galleryman I'll give them a buzz tomorrow

@Troy: Good point about currency fluctuations. I am thinking of moving the money to the UK mostly because I can easily travel up North to open the account, someone here told me that NI banks will allow people with addresses in the republic to open accounts. Is that the case with Germany and France also? Are there any French or German banks that will allow you open an account online and without presenting yourself at one of their branches?
 

damson

Frequent Poster
Messages
258
I was going through France recently and opened a savings account in an hour with passport and tax clearance cert. They prefer you to make an appointment first normally.
Hi Troy. Can you tell us the name of the bank that allowed walk-in account opening like this? Is it a non-resident account or have you connections in France that would have facilitated the process?
Thanks.
 

farmerette

Frequent Poster
Messages
177
Can somebody explain to me the cost associated with moving a large some of money from an Irish bank in Euros to a UK bank in Sterling?

I have €100,000 I'd like to deposit in a UK bank. According to xe.com 100k in Euros is £84,741, but how much of that can I expect to pay in currency conversion charges etc?
check out this website for todays market rate , your local bank is likely to be a few points below the market

an alternative is to go through this crowd

http://www.knightsbridgefx.com/
 

Troy McClure

Frequent Poster
Messages
300
It was Societe Generale bank in France. It is a non resident account which means you have to sort your own tax out on this side in respect to interest earned.
I have no connections but speaking some French helps and I just used my address in Ireland. However if thats not the case I would just call up a large branch and ask do they have someone who has some English and explore options with them.
I needed passport and Irish tax clearance cert (attainable from revenue.ie) and forms need to be signed. I dont see why this could not be done through correspondance. Might take longer but if you cant go over it's an option. If you can take in a weekend in Paris and visit a bank on the Saturday morning then make sure you make an appointment first.
As for Swiss bank I believe there is more higher tax rate for outside EU not to mention those currency flucations.
 
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