bg
Member of DD Central
Posts: 1,368
Likes: 1,929
|
Post by bg on Sept 18, 2019 17:33:24 GMT
I agree that in the short-medium term view Brexit weakens the UK. In the longer term, I think we are better off in but nobody knows for sure. There are many countries that do very well who are not in the EU. Once the UK has adjusted at expect us to be in the same boat. Brexit will not weaken the UK by 25-30% in the long run as the market seems to be pricing. More importantly I think all of this is already in the price. Markets hate uncertainty more than anything and in my view, yes there will be a weakening in the £ on a no deal but it will soon bounce back once people realise that the sun still rises every day. What I think is more damaging is prolonging the arguments, I don't think the Brexit genie can be put back in the bottle and if the remain MP's do manage to reverse brexit it leaves us in a worse position in the long term. The arguments will run and run and we could even end up with Farage as PM. What a nightmare. For me, what trumps all this is the prospect of Corbyn ever becoming PM. If that ever happens that will seriously weaken the £ further. You might well be right, although (and we are going full-Brexit thread now) surely Corbyn becoming PM has to be considered a serious possibility, maybe even the probability with the next 12 months? edit: after checking betfair, not apparently the probability as yet, as Tories are odds-on - still obvs possible though. Well for me, the biggest risk is that Brexit is delayed and we go into a general election and the Brexit party takes a big slice of the Tory vote. That could open the door to Labour being the biggest party in a hung parliament. We could then be faced with the nightmare scenario of Corbyn as PM and the Brexit argument rumbling on and on (with Labour then taking years attempting to negotiate their 'good for jobs' Brexit followed by a 9 month lead up to another referendum with all the bickering and uncertainty that would involved). I can't believe I am saying this but I would take a no deal right now over that with the hope that the Conservatives then gain a majority in the following general election. I don't think we are going all Brexit thread. We are discussing the potential political outcomes and the possible impact on the £. We're not discussing the rights and wrongs of Brexit! (I don't really look at that other thread, its constant rehashing of the same old arguments, i'm sick of it, the country needs to move on)
|
|
|
Post by Deleted on Sept 19, 2019 9:59:20 GMT
I think the idea of moving assets out of the UK is a sensible hedge but you might be wiser to look at the Australian Dollar or into say, Denmark (so northern Europe but not the Euro). Oz continues to sell itself kg by kg to China and that will continue. In my mind, the Euro continues its own death spiral and is a poor bet, the kroner, on the other hand, is a based on a sensible economy.
|
|
|
Post by wiseclerk on Sept 20, 2019 18:54:56 GMT
By that criteria you could go for the Swiss Franc. But might there not be the effect that the ever strenghtening currency will strangle the local economy. Swiss production will have a hard time staying competitive if the franc continues for years. And tourism isn't easy if everything gets very expensive either. Already the regions in the neighboring countries (Austria, Italy, Germany, France) are benefitting.
|
|
|
Post by Deleted on Sept 20, 2019 21:26:41 GMT
No SF is proven to stay in lock step with euro Kroner isn't. Danish industry is pharma and pig. Very different.
|
|
|
Post by Deleted on Sept 20, 2019 21:35:35 GMT
No SF is proven to stay in lock step with euro Kroner isn't. Danish industry is pharma and pig. Very different.
|
|
|
Post by wiseclerk on Sept 21, 2019 6:16:12 GMT
Doesn't look that way to me
rather the DKK closely correlating with the EUR
|
|
Nomad
Member of DD Central
Posts: 727
Likes: 494
|
Post by Nomad on Sept 21, 2019 8:16:02 GMT
Nearest thing to a Citibank these days that's half-decent is the Transferwise borderless account (which they market like a bank account, but it isn't a bank acccount).
As for Revolut, I know some people love them but personally, I don't like the fact that all the senior management is Russian. Plus just read their news coverage, it hasn't exactly been rosy in the right departments.
Or HSBC UK Currency Account - no monthly fee - www.hsbc.co.uk/international/currency-account/
|
|
IFISAcava
Member of DD Central
Posts: 3,661
Likes: 2,984
|
Post by IFISAcava on Sept 21, 2019 9:01:39 GMT
hold with Citibank or other bona fide Euro account.
A belated note on @ifisacava's above statement.
Unless you're talking serious money (£100k+), your average punter is not going to be able to get a Citibank account these days. They clamped down hard on small-fry accounts a couple of years ago.
Nearest thing to a Citibank these days that's half-decent is the Transferwise borderless account (which they market like a bank account, but it isn't a bank acccount).
As for Revolut, I know some people love them but personally, I don't like the fact that all the senior management is Russian. Plus just read their news coverage, it hasn't exactly been rosy in the right departments.
Yeah, I'm getting slightly cold feet about keeping a lot of money on Revolut - although the exchanging is great. Will be moving some Euros to Starling as per earlier in the thread. Citi did crack down, and as a result I closed my USD account but kept the Euro account to avoid any fees on multiple accounts.
|
|
corto
Member of DD Central
one-syllabistic
Posts: 850
Likes: 356
|
Post by corto on Sept 24, 2019 10:04:44 GMT
Fineco is (almost) free and provides you with multiple currencies (GBP, EUR, US$, Swiss Francs and others) at a spread of .0025. You also have investment accounts for shares, Forex, CDTs in different currencies .. I have not tried any of the latter. If you are lucky you can even get a signup bonus of 100£. There are some drawbacks to; check the Money Saving Experts thread that mentions the most immediate ones.
|
|
benaj
Member of DD Central
Posts: 4,830
Likes: 1,586
|
Post by benaj on Oct 22, 2019 10:42:10 GMT
|
|
|
Post by wiseclerk on Feb 11, 2020 15:42:13 GMT
N26 bank announced that due to Brexit it will leave UK. All UK accounts (several hundred thousand) will be closed.
|
|
IFISAcava
Member of DD Central
Posts: 3,661
Likes: 2,984
|
Post by IFISAcava on Feb 11, 2020 17:30:38 GMT
N26 bank announced that due to Brexit it will leave UK. All UK accounts (several hundred thousand) will be closed. "exact same benefits" "absolutely nobody is talking about threatening our place in the single market" "there will be no downside to Brexit, only a considerable upside"
|
|
toffeeboy
Member of DD Central
Posts: 500
Likes: 359
|
Post by toffeeboy on Feb 13, 2020 10:54:16 GMT
N26 bank announced that due to Brexit it will leave UK. All UK accounts (several hundred thousand) will be closed. "exact same benefits" "absolutely nobody is talking about threatening our place in the single market" "there will be no downside to Brexit, only a considerable upside" This is a bank that didn't even push into the UK until October 18 so after Brexit was voted for.
They didn't want to apply for a UK banking licence just rely on other laws/loopholes to operate in the UK so a good thing from Brexit if you ask me.
|
|
benaj
Member of DD Central
Posts: 4,830
Likes: 1,586
|
Post by benaj on Dec 3, 2020 14:27:39 GMT
Has anyone got any new idea to bank Euros? I am emptying my pot in Revolut, and would like something else apart from Starling bank?
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Dec 3, 2020 15:21:58 GMT
Has anyone got any new idea to bank Euros? I am emptying my pot in Revolut, and would like something else apart from Starling bank? It looks like Barclays offers one if you open it in branch and you already have a Barclays sterling account. I've not tried it though.
|
|