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cockrobin

Savings

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I have savings in accounts dotted around here and there, I thought keeping all my eggs in one basket may not be sensible in the present financial climate.

I am now thinking about opening an offshore account but I am uncertain of what country and in what bank to open a savings account with.

Any advice will be much appreciated.

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I have savings in accounts dotted around here and there, I thought keeping all my eggs in one basket may not be sensible in the present financial climate.

I am now thinking about opening an offshore account but I am uncertain of what country and in what bank to open a savings account with.

Any advice will be much appreciated.

do you fear a bank going bust or inflation?

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Switzerland are supposed to have some of the safest banks in the world, not sure which though.

I've yet to find a Swiss bank account without a large set up fee.

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Both.

well if you fear a bank going tits up there are a few things you can do

firstly, and probably the most secure is to buy goverment debt. gilts and such

there is almost no change that the goverment will not honour its debt so its the most secure for the moment

alternatively you could put your money into a goverment bank, such as NS&I or NR

for inflation, its far more complex

i wouldnt touch another currency unless your looking at savings of 250k or more.

the currency movements would be something that keeps you up (especilly as the pound is extreamly weak compaired to a few months ago)

so how much do you have you need to save, could help you a tad more if you give us more info

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UK based Friend in same boat, has 500Kon deposit. Is quite comfortable with the idea of the Euro but NZ Oz might be a bit too far purely fro the POV that if the worst came to the worst re Euro she would move to an EZ country.

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I have savings in accounts dotted around here and there, I thought keeping all my eggs in one basket may not be sensible in the present financial climate.

I am now thinking about opening an offshore account but I am uncertain of what country and in what bank to open a savings account with.

Any advice will be much appreciated.

No real advice but just that recognise that having savings in a currency that you don't intend to use is essentially speculation. Secondly if you think that nominal British house prices are going to go down then inflation in other goods is irrelevant. If you think that house prices are going to go up then buy a house, don't think about saving.

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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