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Why does he do this

  • 21-01-2013 11:38pm
    #1
    Maryme
    Registered Users Posts: 1 ✭


    I have a friend from pakistan who works here part time. He saves and saves. He is a lovely fellow and very sweet. I was shocked to see him save up 10,000 euros. I don't know how long he had saved for probably a year or so but he had 10,000 euro in cash and he was sending it home to his family in Pakistan where it would be converted into his currency and saved in his bank. What I began to worry is, is he doing this because he doesn't trust the Irish banks or what?? Is his money now safer than anyone here's?


Comments

  • #2
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,522 ✭✭✭✭Cookie_Monster


    I imagine he's sending it home because that's where is family is and that's where he intends to move back to at some point.
    If he's a friend why not simply ask him?


  • #3
    Scortho
    Closed Accounts Posts: 3,876 ✭✭✭Scortho


    Maryme wrote: »
    I have a friend from pakistan who works here part time. He saves and saves. He is a lovely fellow and very sweet. I was shocked to see him save up 10,000 euros. I don't know how long he had saved for probably a year or so but he had 10,000 euro in cash and he was sending it home to his family in Pakistan where it would be converted into his currency and saved in his bank. What I began to worry is, is he doing this because he doesn't trust the Irish banks or what?? Is his money now safer than anyone here's?
    I'd much rather have my money in a bank here than in Pakistan! If a run on the banks were to have happened, it would have happened in September 2008.

    Does he intend to stay in Ireland or return home to Pakistan? Maybe he has debts there. Maybe his mother is sick and needs money for medical treatment. There are lots of irish people living in Canada and Australia who send money to their irish bank accounts as they wish to return here.

    Op I don't think youve anything to worry about re the banks now


  • #4
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    He could be saving for a dowry/house/future in Pakistan and needs to build up a history there?


  • #5
    Black Swan
    Moderators, Category Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 47,356 CMod ✭✭✭✭Black Swan


    MOD CLOSING COMMENT:
    Please be advised that this OP does not meet the standards for posting in Irish Economy. Please read charter, especially:
    Dr Galen wrote: »
    This forum is specifically for the discussion of topics relating to Politics and the Irish Economy. Threads and posts that do not fit within this area will be moved/locked/deleted as is deemed appropriate.

    Threads (and posts) that are not based on serious and legitimate Political discussion will be removed without warning. For the lighter side of Politics we have the Politics Cafe.


This discussion has been closed.
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