Stefan Posted October 11, 2002 Share Posted October 11, 2002 Must be a FAQ but I'll ask it anyway;We are selling UK house with view to buying in France. On sale of UK house we will be in possesion of a lump sum - Stirling, wwhilst waiting for the French house of our dreams we need to store this lump sum, presumably in a Euro account of some sort...has anybody who has done this got any tips..e.g. tactics/banks to avoid? Transfer fees, interest earning accounts?Any help gratefully acceptedStefan Link to comment Share on other sites More sharing options...
ckenway Posted October 13, 2002 Share Posted October 13, 2002 Most UK banks now offer Euro accounts but they tend to be "off shore". The interest is quite high and tax free. I bank with Abbey National and opened a Euro account with them and got 5.7% till 16th Sept 2002 when I then moved my money to France. It was already in Euro's so I didn't have to pay any French fees.The French banks can't come anywhere near the interest rates we can get even for off shore euro's, they are normally about 3. something.So in short put it off shore via Abbey Nat for instance then move it to France about 2 weeks before you are due to sign.Chris Link to comment Share on other sites More sharing options...
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