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Sterling account in Ireland .. with interest ?

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  • 30-12-2008 9:05pm
    #1
    zod
    Closed Accounts Posts: 2,025 ✭✭✭


    anyone have any experience of setting up a sterling account with any of the Irish banks ?

    What are the charges in transfering from your euro to sterling account?

    Did you get a decent interest rate ?

    TIA :)


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    #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    You can do this with BOI and I'd imagine any of the major banks will do it, the procedure is similar to opening any other depoisit account. (You'll need proof of ID and proof of address) and you'll need to call into a branch to fill in a form. The account will actually be set up by the bank's international department. With the BOI account, you can earn interest, but there's a minimum amount you need to have in the account to upen it as interest bearing (AFAIK it's around €10k) hope this helps.


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    #3
    OPENROAD
    Registered Users Posts: 11,692 ✭✭✭✭OPENROAD


    Toots85 wrote: »
    You can do this with BOI and I'd imagine any of the major banks will do it, the procedure is similar to opening any other depoisit account. (You'll need proof of ID and proof of address) and you'll need to call into a branch to fill in a form. The account will actually be set up by the bank's international department. With the BOI account, you can earn interest, but there's a minimum amount you need to have in the account to upen it as interest bearing (AFAIK it's around €10k) hope this helps.

    Is the account still considered in the state?


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    #4
    daveirl
    Closed Accounts Posts: 14,483 ✭✭✭✭daveirl


    This post has been deleted.


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    #5
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    OPENROAD wrote: »
    Is the account still considered in the state?

    As far as I am aware it is considered still in the state. The account is held in Ireland, however it is simply in a different currency.


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    #6
    Vadrefjorde
    Closed Accounts Posts: 271 ✭✭Vadrefjorde


    OPENROAD wrote: »
    Is the account still considered in the state?

    Yes, for legal and taxation purposes. You can drive to Newry and open an account though and furnish your southern address.
    You can also do this by going to your local branch of Bank of Ireland and insisting that you want your sterling account outside of the state, you wil then be given the option of opening it in the uk, without having to travel there.
    I did.


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