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Euro deposit account outside ROI

  • 28-01-2009 11:03am
    #1
    Yorky
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    Does anyone know how to go about opening one or more euro deposit accounts outside the so-called 'PIIGS' area? This would be in the event of Ireland and the others withdrawing from the euro and the subsequent currency devaluation.


Comments

  • #2
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,639 ✭✭✭Blackjack


    Yorky wrote: »
    This would be in the event of Ireland and the others withdrawing from the euro and the subsequent currency devaluation.

    This is a very, very unlikely scenario. The ramifications for any economy deciding to do this are massive - any benefit would be hugely outweighed by the negatives.


  • #3
    El Stuntman
    Closed Accounts Posts: 4,720 ✭✭✭El Stuntman


    Blackjack wrote: »
    This is a very, very unlikely scenario. The ramifications for any economy deciding to do this are massive - any benefit would be hugely outweighed by the negatives.

    do you have any practical advice for the OP though? this is something I am also interested in


  • #4
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,639 ✭✭✭Blackjack


    Some UK Retail banks used to offer this - I know Citibank had the option of a USD and EUR deposit account to accompany a GBP current account, but I don't know any more than that.


  • #5
    dubo
    Closed Accounts Posts: 7 ✭dubo


    Most UK banks have offshore Euro accounts that are available to non-residents, but being offshore they aren't insured to the seem degree as onshore ones. Banks in the rest of Europe offer non-resident accounts aswell but language and red-tape complicate things. The fees can be quite high wherever you go.


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