Why save in British banks?

[TimberWolf]

My Grandfather moved money to Australia when the UK looked like going tits up in the early 1970s.

His UK Bank Manager gave him a lecture about being 'unpatriotic' when he did it.

It will be down to the individual bank as to whether they will accept overseas customers, but it looks like they are keen to sign up people that are migrating there so it should be possible.

http://www.anz.com.au/personal/trave...paring-europe/

The only downside that I can see is that they won't let you withdraw any money until you have turned up at one of their branches to introduce yourself in person. The cost of the journey over there to do this may negate any savings that you could make.

Hmm, thanks for the info. I'm about due another visit to OZ, but nevertheless the need to turn up in person part makes me wonder how easy it would be to transfer funds out later, without being there in person again.

[Mich the Tester]

How do I open a euro bank account for company cash?

Erm, phone your bank and ask them???

[sweetandsour]

Is it that easy? And legal? I mentioned Canada because I saw that Canada was in surplus last year (lost the link I saw yesterday). I don't mind risking a small loss.

My Grandfather moved money to Australia when the UK looked like going tits up in the early 1970s.

His UK Bank Manager gave him a lecture about being 'unpatriotic' when he did it.

It will be down to the individual bank as to whether they will accept overseas customers, but it looks like they are keen to sign up people that are migrating there so it should be possible.

http://www.anz.com.au/personal/trave...paring-europe/

The only downside that I can see is that they won't let you withdraw any money until you have turned up at one of their branches to introduce yourself in person. The cost of the journey over there to do this may negate any savings that you could make.

[Andy2]

How do I open a euro bank account for company cash?

[TimberWolf]

Where's dimprawn?

[TimberWolf]

You open an account.

Australian banks look like a good bet at the moment IMO. The Australian central bank rate is one of the highest in the western world at the moment and rates look set to rise shortly.

The risk is whether you think the pound will depreciate any further or whether it will start to rise which would make your overseas money depreciate.

Is it that easy? And legal? I mentioned Canada because I saw that Canada was in surplus last year (lost the link I saw yesterday). I don't mind risking a small loss.

[sweetandsour]

[URL="http://news.bbc.co.uk/1/hi/business/8247709.stm"]How do I go about depositing money in a foreign bank or currency? What about say Canada?

You open an account.

Australian banks look like a good bet at the moment IMO. The Australian central bank rate is one of the highest in the western world at the moment and rates look set to rise shortly.

The risk is whether you think the pound will depreciate any further or whether it will start to rise which would make your overseas money depreciate.

[TimberWolf]

Just wait until BoE starts charging banks for keeping their money in its accounts...

Off to work to my new office - not allowed to waste time chatting on internet forums there.

Negative interest rates? So where's your cash stashed?

[AtW]

Just wait until BoE starts charging banks for keeping their money in its accounts...

Off to work to my new office - not allowed to waste time chatting on internet forums there.

[Pondlife]

Bank set to hold interest rates

So with next to no interest being earned in British banks and "quantitative easing" still in progress, how much longer will people keep savings in British banks, or in Sterling?

How do I go about depositing money in a foreign bank or currency? What about say Canada?

Or Iceland?

[TimberWolf]

Bank set to hold interest rates

So with next to no interest being earned in British banks and "quantitative easing" still in progress, how much longer will people keep savings in British banks, or in Sterling?

How do I go about depositing money in a foreign bank or currency? What about say Canada?