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opening a bank account in northern ireland

  • 24-09-2010 3:14pm
    #1
    Closed Accounts Posts: 5,700 ✭✭✭


    can anyone tell me which british banks allow non uk citizens to open accounts , im talking about banks which are located in northern ireland

    ulster bank ( uk ) do not allow non uk citizens to open accounts , also HSBC are almost impossible to contact by phone


Comments

  • Registered Users Posts: 1,559 ✭✭✭pocketdooz


    irishh_bob wrote: »
    can anyone tell me which british banks allow non uk citizens to open accounts , im talking about banks which are located in northern ireland

    ulster bank ( uk ) do not allow non uk citizens to open accounts , also HSBC are almost impossible to contact by phone

    I have an account with First Trust - just required a bill and my passport to open the account in Newry.

    .


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    pocketdooz wrote: »
    I have an account with First Trust - just required a bill and my passport to open the account in Newry.

    .


    isnt 1st trust part of the AIB group , in other words , part of an irish bank


  • Registered Users Posts: 1,559 ✭✭✭pocketdooz


    irishh_bob wrote: »
    isnt 1st trust part of the AIB group , in other words , part of an irish bank

    Yes, it is.

    .


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    pocketdooz wrote: »
    Yes, it is.

    .


    if i wanted to put money in AIB , id make a four mile journey to town

    do you know whether barclays allow foreigners to open accounts


  • Registered Users Posts: 1,559 ✭✭✭pocketdooz


    irishh_bob wrote: »
    if i wanted to put money in AIB , id make a four mile journey to town

    do you know whether barclays allow foreigners to open accounts

    Yes, they do.

    .


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  • Moderators, Business & Finance Moderators Posts: 9,921 Mod ✭✭✭✭Jim2007


    irishh_bob wrote: »
    if i wanted to put money in AIB , id make a four mile journey to town

    do you know whether barclays allow foreigners to open accounts

    What exactly are you trying to achieve :confused:

    Jim.


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Jim2007 wrote: »
    What exactly are you trying to achieve :confused:

    Jim.

    this country is going down and when we are either kicked out of the euro or have to leave so we can devalue , i want my money elsewhere


  • Registered Users Posts: 1,559 ✭✭✭pocketdooz


    irishh_bob wrote: »
    this country is going down and when we are either kicked out of the euro or have to leave so we can devalue , i want my money elsewhere

    LOL
    .


  • Registered Users Posts: 1,379 ✭✭✭Smcgie


    irishh_bob wrote: »
    this country is going down and when we are either kicked out of the euro or have to leave so we can devalue , i want my money elsewhere

    Ah your havin' us on there pj??


  • Moderators, Business & Finance Moderators Posts: 9,921 Mod ✭✭✭✭Jim2007


    irishh_bob wrote: »
    this country is going down and when we are either kicked out of the euro or have to leave so we can devalue , i want my money elsewhere

    OK, stop listening to the "talking headers" and start to think for yourself!

    There is no way out of the Euro and the big European pension funds have put some much into Ireland/Spain/Greece that they can't afford to let this happen either.

    You have currently got your savings in

    - One of the major world currencies (a reserve currency for most countries)
    - You've got the biggest economic block and it's bank (ECB) ready to defend that currency
    - Your money is on deposit with a bank that has fully met the new ECB stress tests
    - You live in a country, which has disclosed more information about the state of their finances that any of the others, so there is a good chance that all the bad news is out

    And now you want to move you cash to

    - A currency that is no longer considered a reserve currency
    - A country that has little resources to support their currency
    - A country that is only now starting to talk about the cuts they will have to make....
    - A country with out date industries and an aging population...

    In doing so you are exposing yourself to both forex and country risk, do not underestimate the power of the Euro block and it's ability to out perform the UK economy.

    If you are going to move money out of the Irish economy, at least keep it in Euros and move it to some where like Germany!

    Good luck with that,

    Jim.


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  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Jim2007 wrote: »
    OK, stop listening to the "talking headers" and start to think for yourself!

    There is no way out of the Euro and the big European pension funds have put some much into Ireland/Spain/Greece that they can't afford to let this happen either.

    You have currently got your savings in

    - One of the major world currencies (a reserve currency for most countries)
    - You've got the biggest economic block and it's bank (ECB) ready to defend that currency
    - Your money is on deposit with a bank that has fully met the new ECB stress tests
    - You live in a country, which has disclosed more information about the state of their finances that any of the others, so there is a good chance that all the bad news is out

    And now you want to move you cash to

    - A currency that is no longer considered a reserve currency
    - A country that has little resources to support their currency
    - A country that is only now starting to talk about the cuts they will have to make....
    - A country with out date industries and an aging population...

    In doing so you are exposing yourself to both forex and country risk, do not underestimate the power of the Euro block and it's ability to out perform the UK economy.

    If you are going to move money out of the Irish economy, at least keep it in Euros and move it to some where like Germany!

    Good luck with that,

    Jim.


    the uk economy is recovering very well plus when ireland defaults , it will surely have a negative effect on the euro currency ??? , also , why would germany continue to carry a basket case like us , surely thier level of support is not unconditional

    as regards your suggestion about moving money to germany , would you consider opening an account in the netherlands ( say with rabbo ) as being equally wise


  • Moderators, Business & Finance Moderators Posts: 9,921 Mod ✭✭✭✭Jim2007


    irishh_bob wrote: »
    the uk economy is recovering very well plus when ireland defaults , it will surely have a negative effect on the euro currency ??? , also , why would germany continue to carry a basket case like us , surely thier level of support is not unconditional

    Please explain how you arrive at these conclusions... 4 or 5 economic reports hit my desk everyday and I'm not seeing anything like this! Most are written by Europeans rather than Irish/UK economists, perhaps that makes the difference...
    irishh_bob wrote: »
    as regards your suggestion about moving money to germany , would you consider opening an account in the netherlands ( say with rabbo ) as being equally wise
    Well unless the Netherlands is some kind of economic power house that I don't know about, then I'd say it is not on par with Germany.

    You should also realize that international money laundering rules means that most reputable banks will not be willing to open accounts for non residents, unless you can show a significant economic interest in their country or you are seeking wealth management services from them and are willing to put a large sum under management with them - here in Switzerland that normally means around €2-3M.

    I suppose you could always buy a German government bond and keep it to maturity, but then there are risk associated with that as well.......

    Good luck with that,

    Jim


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Jim2007 wrote: »
    Please explain how you arrive at these conclusions... 4 or 5 economic reports hit my desk everyday and I'm not seeing anything like this! Most are written by Europeans rather than Irish/UK economists, perhaps that makes the difference...

    Well unless the Netherlands is some kind of economic power house that I don't know about, then I'd say it is not on par with Germany.

    You should also realize that international money laundering rules means that most reputable banks will not be willing to open accounts for non residents, unless you can show a significant economic interest in their country or you are seeking wealth management services from them and are willing to put a large sum under management with them - here in Switzerland that normally means around €2-3M.

    I suppose you could always buy a German government bond and keep it to maturity, but then there are risk associated with that as well.......

    Good luck with that,

    Jim


    i wasnt aware that you were an economist , i do appologise , being just an ordinary joe , my statement about the uk,s economy recovering well was based purely on IMF recent reports , media commentators etc

    i also wasnt aware that it was borderline illegal to open a bank account as a non resident , seems strange to say the least , surely their are tax treatys between eurozone countries so the account holder can pay DIRT in both countriesp.s

    p.s , when argentina went bust in 2001 , millions of people lost all their savings , seeing that ireland cannot possibley cover the bank guarentee , whats to stop the same happening here


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    hi again

    was browsing askaboutmoney earlier on and came across a thread to do with opening a bank account overseas , unfortunatley im banned for life from that site ( like countless others :rolleyes:) so cant ask any follow up questions

    anyhow , it seems from reading the thread that its nion impossible to open a bank account in any institution around the EU unless you reside in that particular country , the exception to the rule was a belgian bank named KEYTRADE bank , my questions is , has anyone heard of this bank and have they any experience with it

    cheers


  • Registered Users Posts: 591 ✭✭✭Rosser


    irishh_bob wrote: »
    hi again

    was browsing askaboutmoney earlier on and came across a thread to do with opening a bank account overseas , unfortunatley im banned for life from that site ( like countless others :rolleyes:) so cant ask any follow up questions

    anyhow , it seems from reading the thread that its nion impossible to open a bank account in any institution around the EU unless you reside in that particular country , the exception to the rule was a belgian bank named KEYTRADE bank , my questions is , has anyone heard of this bank and have they any experience with it

    cheers

    Oh for the love of God of course your money is safe in an Irish bank, this level of alarmist behaviour is the stuff of Joe Duffy


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    Rosser wrote: »
    Oh for the love of God of course your money is safe in an Irish bank, this level of alarmist behaviour is the stuff of Joe Duffy

    are you a FF schill , if your not , then its time you and others woke up and smelled the fcuking coffee , did you turn on the news today ??????


  • Registered Users Posts: 793 ✭✭✭cuculainn


    Jim2007 wrote: »
    OK, stop listening to the "talking headers" and start to think for yourself!

    There is no way out of the Euro and the big European pension funds have put some much into Ireland/Spain/Greece that they can't afford to let this happen either.

    You have currently got your savings in

    - One of the major world currencies (a reserve currency for most countries)
    - You've got the biggest economic block and it's bank (ECB) ready to defend that currency
    - Your money is on deposit with a bank that has fully met the new ECB stress tests
    - You live in a country, which has disclosed more information about the state of their finances that any of the others, so there is a good chance that all the bad news is out

    And now you want to move you cash to

    - A currency that is no longer considered a reserve currency
    - A country that has little resources to support their currency
    - A country that is only now starting to talk about the cuts they will have to make....
    - A country with out date industries and an aging population...

    In doing so you are exposing yourself to both forex and country risk, do not underestimate the power of the Euro block and it's ability to out perform the UK economy.

    If you are going to move money out of the Irish economy, at least keep it in Euros and move it to some where like Germany!

    Good luck with that,

    Jim.

    Just see this now and wanted to ask Jim if he is still as confident about the strength of the euro zone. And sceptical of a euro collapse, euro zone breakup?


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