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Moving to Portugal and trying to streamline my finances

  • 16-12-2024 06:54PM
    #1
    CorneliusBrown
    Registered Users, Registered Users 2 Posts: 91 ✭✭


    hi,

    Any help appreciated. I’m moving to Portugal next year and will have no source of income for about six months. To cut down on costs and unnessary fees I will be closing my Irish bank account.

    I intend to open a savings account with raisin for the bulk of my money, and then use a zero fee bank account with a debit card for day to day costs.

    Does anybody have any advice here? As I say, I’m trying to minimise expenses, earn a little interest to keep up with inflation on my savings (but still have access to them) and generally just streamline my financial affairs. I have never used revolut. Is this an option? Am I missing anything?

    I don’t want to end up frustrated or stuck with poor banking options.
    Ta

    Post edited by whiterebel on


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,750 ✭✭✭✭coylemj


    If you want to keep an Irish bank account but don't fancy paying any fees, open an EBS Money Manager account. You can use that as a hub for any Irish transactions, transfer money in and out and service any direct debits that you need to maintain in Ireland.

    EBS will give you a VISA debit/ATM card which can do contactless payments but is not supported by Google Wallet.



  • #3
    ednwireland
    Registered Users, Registered Users 2 Posts: 14,715 ✭✭✭✭ednwireland


    the ebs account is very limited you can only transfer 5k out and the card is listed to 2k.

    you can't do direct debits or standing orders in the website. have to go to branch.

    but it's free

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



  • #4
    coylemj
    Registered Users, Registered Users 2 Posts: 25,750 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/122977360#Comment_122977360

    You typically setup a DD by signing a mandate that a supplier like Bord Gais, Vodafone etc. send you, you don't need to go near an EBS branch.

    To setup an SO, you need to fill out a form and take it to a branch. That's based on the fact that there is no mailing address quoted on the form. It's the first form listed under: 'Daily Banking Forms'…..

    https://www.ebs.ie/useful-forms



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