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Keeping savings in foreign currency

  • 17-01-2015 1:45pm
    #1
    Skr4wny
    Registered Users, Registered Users 2 Posts: 229 ✭✭


    Anyone any tips on how to do this?

    Are their online trading platforms where you can hold multiple foreign currencies on your account and not need to open lots of separate currency accounts with a bank where sometimes you need very large deposits even to open the accounts.

    Cheers.


Comments

  • #2
    RobertKK
    Registered Users, Registered Users 2 Posts: 33,761 ✭✭✭✭RobertKK


    Skr4wny wrote: »
    Anyone any tips on how to do this?

    Are their online trading platforms where you can hold multiple foreign currencies on your account and not need to open lots of separate currency accounts with a bank where sometimes you need very large deposits even to open the accounts.

    Cheers.

    Davy's have the option where you can buy a stock in whatever currency you have in your account once it is either Euro, dollar or Sterling, and you can choose to pick which currency you want the money settled in when you sell the stock.
    So you could have some in dollars, some in euro and some in Sterling.
    I use Davy's for my pension account.
    That might have been completely unhelpful I don't know. It is one thing I really like about them, other stuff is negative like their maintenance fee, but once one is making money, it ain't so bad.


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