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Hi All
Can anyone recommend a good savings account with a decent rate (fixed or easy access) for Non Residents where I can keep some excess Euros I have transferred for property expenses and a potential refurbishment at a later date.
The bank I am currently with (Cajamar) only will offer current accounts to Non Residents
TIA
Harvey
Posted: Thu Nov 9, 2023 10:17am
Super helpful member
Hi
Wise.com currently pay 2% (paid monthly) on euro balances, and 3.5% on GBP.
Be aware that Wise are not covered by the £80k government guarantee on savings.
You can also get higher rates if you use Wise to invest in government bonds, but that's investing not saving.
It's also very easy and inexpensive to do currency conversions using Wise.
Cheers
Steve
Stevec2x wrote on Thu Nov 9, 2023 10:17am:
Hi
Wise.com currently pay 2% (paid monthly) on euro balances, and 3.5% on GBP.
Read more...
Be aware that Wise are not covered by the £80k government guarantee on savings.
You can also get higher rates if you use Wise to invest in government bonds, but that's investing not saving.
It's also very easy and inexpensive to do currency conversions using Wise.
Cheers
Steve
Wise have paid me 4.77% recently on capital investment. I invested a substantial amount but can still spend and transfer the money as I wish.
Steve
Posted: Thu Nov 9, 2023 11:31am
Super helpful member
tebo53 wrote on Thu Nov 9, 2023 11:19am:
Wise have paid me 4.77% recently on capital investment. I invested a substantial amount but can still spend and transfer the money as I wish.
Read more...
Steve
Hi Steve
Me too!
Cheers
Steve
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Sabadell giving 4.77 on one year fixed STERLING so it may be better to convert your Euros to Stg. It is likely they will with hold around 20% of the interest at the end of the fixed term, so you need correct tax documentation.
Posted: Sun Nov 12, 2023 6:16pm
Hi.
Check out Skipton International. They are part of Skipton building society, based in the Channel Islands. They offer a range of fixed rate savings accounts and bonds. Available for UK nationals living in Spain. We recently opened 2 accounts with them and we're very impressed with the service.
Thanks all for your suggestions
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