Going to Put Savings into Sterling

INEEDANID

I have decided that my savings could be better off in Sterling Cash in a safety deposit box which I have already.

I think the Euro will fall in value vs the Pound and this will make my savings
1 - Safer in case the Euro fails
2 - May pay a decent return if the Pound gets stronger such as more than a deposit account in a bank.

I want to put the money into sterling mainly for reason 1.

Anyone any opinions on this?

Raskolnikov

I suggest that you set up a Sterling bank account in Northern Ireland. Pop into Ulster Bank in Newry with your passport and drivers licence and they will setup a Sterling bank account than you can use free of charge. Your money is out of safe, out of the Irish banking system and in Sterling, as you desire.

irishh_bob

INEEDANID wrote: »

I have decided that my savings could be better off in Sterling Cash in a safety deposit box which I have already.

I think the Euro will fall in value vs the Pound and this will make my savings
1 - Safer in case the Euro fails
2 - May pay a decent return if the Pound gets stronger such as more than a deposit account in a bank.

I want to put the money into sterling mainly for reason 1.

Anyone any opinions on this?

i dont think the euro is going to fall against sterling ( at least not in the long term ) but even i thought the euro was going to tank , i wouldnt buy sterling , the uk economy is weak , interest rates are low so their is nothing to suggest sterling will rise , id go with either the aussie or canadian dollar , preferably the aussie as the canadian is never far behind the u. s dollar which is never a great place to be this past few years

OfflerCrocGod

The British, unlike the Irish, have control of their own printing presses.

If you had done what you are suggesting 5 years ago you'd have lost +25% by now. Not taking into the account the much higher inflation and lower interest rates.