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What's The Catch?

Meandering the internet today, I stumbled on an expats' site:

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They reference some attractive interest rates at the Isle Of Man, for example the Anglo Irish Bank, and Kaupthing Singer & Friedlander:

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So, what's the glitch? Why wouldn't I move some bucks over there real quick and take advantage of what's available? As an aside, there appears to be a higher rate paid on funds in UK pounds sterling than that on US dollars. Any reason this would be? I mean, a percentage return should not matter what currency it is a percentage of, right?

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Reply to
Carlos Hamilton
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Foreign banks are failing also. FDIC doesn't insure deposits in non US banks.

Effective interest rates for foreign currency also depend on conversion rates.

-- Ron

-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.

Reply to
Ron Peterson

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