Want to invest savings in foreign bank - any advice?

M

marilyn

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I inherited some money from my dad. aprox €40,000 and st£15,000. The euro is just in a credit union and the sterling is in an account in the UK. I really want to get the money out of Ireland and invested some where in the Euro zone. Things are tight at the moment so I do want to have access to the money if I need it.

I have tried to research on the internet but it difficult to get useful information. Does anyone have any advice?
 
There's loads of info on AAM about this. Read Brendan's post at top of page in deposits about protecting your money. See also the post on investing in German banks further down the page., or follow this link

http://www.askaboutmoney.com/showthread.php?t=147521

You will find other similar posts in deposits as well, just read & click on the titles that are relevant to your query. From what you say, it looks like you will want an "instant access" type of account, so just bear that in mind. After looking through these, post any more specific query you have, and you should get a response.
 
horusd

thanks for that, I have plenty of reading to do!
 
marilyn said:
I inherited some money from my dad. aprox €40,000 and st£15,000. The euro is just in a credit union and the sterling is in an account in the UK. I really want to get the money out of Ireland and invested some where in the Euro zone. ?
Click to expand...

15,000 GBP: Nationwide UK IOM @ 3.25%: [broken link removed]

40,000 EUR: KeyTrade Belgium.
 
another option would be buying into a moneymarket fund denominated in another currency or a foreign domicilled fund.
 
As screwed as Ireland? No.

If you don't want money in Belgium, you could always go with KeyTrade Luxembourg.
 
Dockintrade not sure what you mean with the 2 options you mention. Are they different from say buying into ETF's?
 
Thanks for all your advice, but you have lost me a bit on the last few posts.

Just reading some last other threads. If you invest money in foreign country as an Irish resident and the Euro goes, will it revert back to the Irish punt, which we all know will be useless.
 
This is a question I'm interested in as well, I'm no expert but I think one way you could get around the euro reverting to the punt would be to buy into a property portfolio in Germany or somewhere like that. then if the euro reverts back your property will be valued in deutchmarks

Cheers
Brian
 
brianc said:
This is a question I'm interested in as well, I'm no expert but I think one way you could get around the euro reverting to the punt would be to buy into a property portfolio in Germany or somewhere like that. then if the euro reverts back your property will be valued in deutchmarks

Cheers
Brian
Click to expand...

I don't think €40,000 and st£15,000 is enough to buy property in Berlin.... actually, had a look, i'm wrong.

Plus, property investment also comes with it's own problems.
 
what you could do is buy a EUR (or other ccy) denominated ETF. Best to ask an advisor for a low risk one (or maybe invest in a gold etf).

There are some out there that are money market ETFs (so really only interest on them -and low returns)
 
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