Bank of Ireland's one-year fixed sterling account pays 2.8 per cent interest, while its two-year fixed account pays 3.5 per cent interest.
Investec's 12-month fixed currency deposit accounts pay 1.1 per cent interest on US dollars, 1.85 per cent on sterling, 5.75 per cent interest on Australian dollars and 0.55 per cent interest on Swiss francs.
HSBC Private Bank's interest rates depend on the amount of money on deposit, the currencies chosen -- and how much money is saved in each currency, and the term of the account. Its basic deposit rates are usually between 0.5 and 1 per cent -- but interest rates of between 3 and 5 per cent can be available depending on the product and term.
National Irish Bank's currency accounts don't pay any interest.
Is my money safe if the bank I lodge it with goes bust?
Any money you have on deposit in a non-euro currency gets the same protection that it would if in euro.
"The use of such accounts for purely speculative purposes would be discouraged."
Hi Ciaran T,
What happens to if you have a Sterling account with BOI (for example) and Ireland pulls out of the euro and creates the "punt nua". Does Sterling account remain Sterling or is it converted to the "punt nua" and thus risk depreciation?
Hi Ciaran T,
What happens to if you have a Sterling account with BOI (for example) and Ireland pulls out of the euro and creates the "punt nua". Does Sterling account remain Sterling or is it converted to the "punt nua" and thus risk depreciation?
I am surprised that Santander allow that kind of arrangement. Sounds like a lot of hassle, when there are easier options for ROI residents opening GBP accounts in NI.
Hi CiaranT,
Have you experience of using other NI banks?
I'm considering opening a NI stg acc in the near future (most likely with Ulster Bank).
Hi Silvera,
I have no personal experience of opening a GBP account in NI, I don't have any deposits in NI. However, I know several people who went to NI recently, to open a GBP account. They all choose Ulster, and none of them have had an problems.
Hi CiaranT,
forgive me for being forward, but i'm strongly considering opening an account with Ulster Bank in NI, do you still hold the same view as above a number of weeks later.
regards,
CW
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