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restrictions on size of deposit to sterling AC

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  • 26-11-2008 2:10pm
    #1
    serco
    Registered Users Posts: 77 ✭✭


    Hi,

    looking for a bit of advice. I have a friend with a sterling back account in the UK which he has had for a number of years. He's thinking about buying approx 30K sterling and putting it in this account for a number of years in the hope that the recent move in the EUR/GBP rate will reverse itself and he can turn a profit by buying back euro eventually.

    I was wondering if there are any restrictions on the amount of money which he can move from his irish account to this sterling account and if its a straight forward process.

    thanks


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    #2
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    Shouldn't be, but he might have to provide information under the UK equivalent of money laundering. Best thing for him to do is ring his bank and ask, the rest is just guessing :)


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