I am about to receive 160,000 Aus$ from the estate of an aunt (around 130,000 euros). I will be looking to buy a home in the next couple of years, possibly sooner rather than later.
I have a sterling bank a/c with NatWest, and also an a/c here with Ulster bank.
Could you please advise me on what might be the most secure way to bank this money? I am considering opening a currency a/c with UB.
My huge thanks in advance.
Just read the entire ‘EUR Wedge On The Edge’ thread.
That’s sound advice. It’s 101 pages long at this stage but it covers pretty much every angle.
Cheers Spudnick and JohnnyThe Fox, great thread.
If you’re planning on using the money in this jurisdiction, be sure to find out what the exchange costs are likely to be. Every time you do a currency exchange, you lose money, it could even be a fairly substantial amount. Be advised!
yes, if you are planning to buy property in Ireland in sooner rather than later I would change it in to euro straight away, you could lose quite a bit putting into sterling first.
People break their balls for a few percent return but forget transaction costs
Worldfirst is really good and has Australian operations. I use them a lot
hifx seem ok but no direct experience