I`m thinking I will open a couple of current accounts
then maybe get drafts drawn up for the new accounts?
You would be better off opening a few savings accounts, rather than current accounts. Have you read the savings best buy threads?
Simplest to wire the money online. This may need to be in a few instalments.
Also, note in your circumstances, the balance in excess of 100k is still covered under DGS for 6 months, as it's classed as a temporary high balance.
https://personalbanking.bankofireland.com/save-and-invest/savings/deposit-guarantee-scheme/
Thanks Ciaran. I will have a look but I know interest rates are extremely low and presumed current accounts would be the easiest way to access the money on demand.
Just wondering what age you are and if you'll need the money in the near future? Hard to see how there's going to be anything much going to happen in a good way with deposit rates over the next few years at least. Chuck it into the Post Office 10 year bond and you'll get a guaranteed €30,000.00 into your hand tax free, although plenty of Celtic Tiger wannabees on here will say that would be unwise. It's your money, mind it, there's an awful lot of so called experts that will show how good everything else has been over the past 10 years and all that Ross O Carroll talk, but none of them will show what will be there for you in 10 years time by doing it their way.
Some return is better than no return.
You could be earning 2k+ on your 200k.
Drip feeding your money into multiple regular saver accounts will maximise your return.
For example, you can get 2.25% AER Variable on-demand with a KBC Extra Regular Saver account. 10k deposit allowed at the start and then monthly deposits of 1k up to a 40k cap. Extra Current Account required but zero fees if you deposit at least 2.5k per month into the current account. Double the return if you open 2 KBC Extra Regular Saver accounts if you have a partner.
Chuck it into the Post Office 10 year bond and you'll get a guaranteed €30,000.00
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