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Advice on where to move money...

  • 10-08-2011 9:50am
    #1
    Evonatron
    Registered Users, Registered Users 2 Posts: 48 ✭


    Hi All,

    My mother has about 15k savings in the credit union, she keeps hearing on these stories about the credit unions being in trouble etc etc and wants to move her money somewhere else. Also she pays her bills and through the credit union and keeps getting late payment letters from esb etc when she has paid them in advance or on time so she does not trust the cc at all!!! She is unsure about all the banks also but is wants to know what is the best thing to do?

    She is thinking about changing it to sterling etc...... any advice greatly appreciated. I dont want her to turn in to a person who keeps cash under their mattress,


    Thanks


Comments

  • #2
    DessieMG
    Registered Users, Registered Users 2 Posts: 64 ✭✭DessieMG


    I have about 1000e in an An Post deposit A/c, I do not need to have access to it for the next two or three years,

    my question is, with all this talk of euro devaluation and the euro crashing would it be worth changing it to sterling since An Post offer currency exchange commission free for a limited period?

    thanks


  • #3
    bob skunkhouse
    Registered Users, Registered Users 2 Posts: 182 ✭✭bob skunkhouse


    DessieMG wrote: »
    I have about 1000e in an An Post deposit A/c, I do not need to have access to it for the next two or three years,

    my question is, with all this talk of euro devaluation and the euro crashing would it be worth changing it to sterling since An Post offer currency exchange commission free for a limited period?

    thanks

    If it's only a thousand bucks, I wont bother converting to GBP. At todays rate your grand will pick you up 877GBP. At it's strongest over the past 2 years (Oct 09) your grand would have bought you 925 GBP. If it falls to the 09 level again - which is a risk considering the UK is in as much bother as the EU - your only going to make 48 bucks. Is it worth it for that?


  • #4
    checkcheek
    Registered Users, Registered Users 2 Posts: 223 ✭✭checkcheek


    just literally copying and pasteing this

    i said this in another thread, but EVERYBODY keeps asking



    so...


    if you put all your saving in sterling 5 years ago it would have lost 25% of its value by now

    Plus the Uk is printing money like theres no tomorrow

    TBH i have great faith in the euro, it may be going through a bad patch but its too big a currency to fall, if the euro goes, id say sterling and and the doller will be just as bad!!!



    by all means change it too sterling if thats what you want


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