Opening a Dollar Account

N

nolo77

Registered User
Messages
170
An American uncle died and as I write a dollar cheque is winging its way to me. Someone suggested that I open a dollar account and lodge it rather than lodge it to my regular account as the exchange rate is so bad at present. Do I just call to my bank (AIB) and tell them I want to open a US$ account? Is there any point in shopping around? Any advice would be gratefully appreciated.
 
BoI only let me open a US$ account because I was working out of the country at the time. They said I could not do it as an Irish resident. I'm not sure if that still applies, or if its the same in AIB.

If you can open one, yes it's worth finding out what interest rate the banks will give you on deposit. It could be a while before the US$ exchange rate improves and ideally the money would be generating interest in the meantime.
 
Anglo Irish Bank offer USD deposit/notice accounts-I'm pretty sure you don't need to be non-resident as I have had one in the past.
 
It is possible that I had a very bad experience but when I tried to open a USD account with AIB it was pure hell. There were very few people who knew what to do and after 11 months I finally retrieved the USD cheque I had given them that was lost in their systems. I never got the same answer twice regarding how to open a USD account. It got to the point where I was asking for written instructions so that I would have them when it all went wrong again !

I walked in to Anglo Irish Bank on St Stephen's Green and in a matter of 3/4 minutes, my account was open, the rules and limitations of the account were clearly explained and I get regular electronic statements.
 
I'll second that. I wanted to open a sterling account two weeks ago and it was all done and dusted within minutes. Very efficent and professional service.
 
Thanks for all responses. Don't know anything about Etrade accounts so I'm heading for Anglo-Irish Bank tomorrow with my cheque, my passport, a utility bill and a Balancing Statement to prove my tax is up todate. Do I need anything else, I wonder?
 
You must log in or register to reply here.
Back
Top