JWL

Not at all. I just assumed you didn't know I was outside the EU.


And of course, you're right in so far as any DAT gains are balanced by exchange rate changes, but not exactly a lot of choices given that I have to get money to France in advance of my arrival.

Novocastrian

Do you know if there's a maximum amount you can transfer into one of these accounts and can you post a link to a more detailed description (in French is fine...) Thx.

Novocastrian

^^ I found it myself. The upper limit is 500,000 euro.

That should be enough.

JWL

For this month?

Novocastrian

Next June actually.

not2old

OP, its all about 'risk & reward'. Gilts, government bonds that pay less than the cost of living increases -hopefully the country doesn't go bust.

http://www.bloomberg.com/news/2014-1...-k-credit.html

Cash under the mattress (so to speak) in three different currencies depending where you live or in a single currency where you spend most of your time.

Even with 100K, 500K or a cool million to invest - do you want to have your investment somewhere that you know the risk is even as low as 1%, with or without FX fluctuations?

Preservation of capital is key.

Do not let anyone tell you of an investment that is 'guaranteed' - that only means, that the person telling you that has a personal gain.

not2old

which is your currency of choice - swiss franc or the euro?

InVinoVeritas

cyrian

I think that the risk to UK or French banks is now quite small because of the support from governments / central banks.
In 2008, I happened to have some large deposits (in excess of the guarantee limits) in a UK bank and I have to say that I had a very worrying week until the UK government bailed the bank out.
Today, I have my "risk" spread over a wide range of investment vehicles.
Cyprus was a particular case where the ECB did not want to bail out the Cypriot banks because there was a LOT of Russian money in the system amongst other reasons.
If, for example, the Bank of France tried to do the same thing where it was hurting the French upper/ political/ business class then all hell would be set loose. The recent AF pilots' strike would seem like a walk in the park.
During the financial crisis, I "lost" about 30% of my investment value although I had "gained" over 40% over the previous 3 years. Today, those investments are back at pre-crash levels and I didn't lose any capital - only growth.
Risk is not about all or nothing but about spreading "risk" to minimise potential loss which may not arise.
The investment strategy for €50k would be different from that for a cool €1M.

bigglesworth

A very frightening time indeed.

The Bank of England is reported to be considering additional protection - up to a million.

Bank of England to protect deposits of up to £1m under new rules - Telegraph

InVinoVeritas

My understanding is that this proposed guarantee is very limited in scope and is not intended to protect long-term deposits.

cyrian

+1
Quite correct. It is not for general deposits.

bigglesworth

Yes true

But then, if one had a million, who would leave long term money in a bank anyway?

The point is surely that those of us who are selling a home to retire or move overseas have some additional protection?

InVinoVeritas

Don't suppose you'll get many answers here

JWL

As soon as you see, beyond the glaring headline of great news, something like 'under certain conditions' you can be absolutely sure you will not be the 1 in 1 million to meet these conditions.