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Currency Current Account

  • 17-05-2012 5:10pm
    #1
    RoverZT
    Registered Users, Registered Users 2 Posts: 362 ✭✭


    Looking for some help here, I want to open a currency with Aib or Boi.

    Girlfriend is with Aib and I am with Boi.

    We want to put our savings into Canadian Dollar ( will be going there next year ) and with all the fear surrounding the euro I am thinking now is a good time to set it up.


    What kinda charges apply on these accounts?

    Aib or Boi good for these accounts or a different bank, girlfriend and I have no loyalty to them so it's no bother taking funds to different bank.

    CAD dollars is around 1.27 at the moment.

    So if we transferred 30,000 euro to get 38,001 CAD and the Euro bombed after the Greece fallout to 1.10, we would be up 5,001 CAD is that right?

    I have no real faith in Europe and don't want my savings which will start our new life in Canada to be worth nothing.

    Is CAD a good call or should I look at other currencies?

    I am off work monday and want to get it sorted then.

    Thanks for your help.


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    Most banks will screw you on FX margin, so use a broker, once you have opened a CAD account.

    Brokers would include currency.ie.

    Investec Ireland do CAD accounts. Details here.


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