OFFSHORE BANK ACCOUNTS

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An offshore bank account can help you to keep your money flexible, regardless of where you are located in the world. Whether you want to hold money in a stable offshore jurisdiction and thereby manage your income (and outgoings) from home or from overseas, or whether you want to purchase a home overseas, an offshore bank account can be highly useful.

Some people may associate offshore bank accounts with tax evasion, but of course all the interest you gather on money/assets held in an offshore account are subject to full tax/income tax. If you do not declare your assets to your local tax bureau (HM Revenue and Customs in the UK), then you are avoiding tax illegally. There are many excellent offers for offshore bank accounts, so use the table below to compare the main features of each one. What currencies can they offer? What are the fees and charges associated with the account? How much interest can you earn on the assets held within the account?

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If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERACCOUNT

ACCOUNT

Account Name

TYPE

TYPE

Account Type

INTEREST AER

INTEREST AER

Interest Annual Equivalent Rate

INTEREST GROSS

INTEREST GROSS

Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations

PAID

PAID

How often interest is paid on account

ACCESS

ACCESS

How account can be accessed

O/D RATE

O/D RATE

Cost of Overdraft

BANKING CHARGES

BANKING CHARGES

Additional Banking Charges

SERVICES CHARGES

SERVICES CHARGES

Charges for extra services

FEATURES

FEATURES

Bank Account Features

MORE INFO

Lloyds Premier International Account
Lloyds Premier International Account

Premier International AccountOffshore Account0% AER0% AERDailyOnline, phone, post15% EAR£20 per payment£20 per monthFeatures

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: No
Direct Debit: No
Overdraft Facility: Yes
Account Manager: No

Accounts available in £,$ or €. All-access withdrawals. Family Travel Insurance.4%(1%AER†) interest rate — on balances between £10,000 and £24,999 for 3 months only.

Lloyds Premier International Account
This current account is perfect for those of you with international needs but who want the security of a name you can trust. The Premier International Account from LLoyds caters for all your needs-you can even make use of the complimentary travel insurance, online banking and concierge service. Apply online and you will receive £100 cashback Before applying for a current account please make sure that you read the terms and conditions carefully. Current accounts do vary so work out which one is best for you. DETAIL INFORMATION >>Services

Services

Visa debit cards in all 3 currencies for easy worldwide access to your money


Advantages

Advantages

1.You can get this account in £,€ or $.
2.If you need flexible access to your money-this account will allow you to do exactly this. 3.A great account to make international transfers with.
4.You will get a Visa debit card in all three currencies.
5.If your balance is above £2,500, there will be no monthly fee.
6.There will only be one monthly fee for multi-currency accounts.
7.If your account has over £10,000 you will start to recieve a 4% interest rate.
8.Worldwide family travel insurance included.


Disadvantages

Disadvantages

1.If your balance is below £2,500 you will have to pay a monthly fee of £20/€20/$30.
2.You must have a minimum gross income of £50,000
3.You cannot apply unless you are over the age of 18.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Offshore Bank Accounts

Before taking out an offshore account make sure you know the facts.

Why do you need a bank account?

Bank accounts are convenient and easy to use. They are a safe place to put your money where you can access it whenever you need. With many accounts you will be given a debit card and cheque book which can make accessing your money even easier. Many accounts also come with online banking so you can make payments and view your transactions 24/7. There are many different types of accounts available.

What is an Offshore Account?

There may be many reasons why you might need an offshore current account. Despite many misconceptions they are mainly designed mainly for UK citizens who live abroad, but if you are travelling or working abroad then you may also consider one of these accounts. They are also useful if you want to purchase property overseas. With an offshore account you can manage your money wherever you are in the world.

Many offshore accounts will most likely have all the same features as ones at home however this does vary depending on the account you choose. It is worth noting that some accounts may charge a fee and have certain requirements such as that you earn a minimum amount. The eligibility requirements can vary.

Finding the right account for you

It pays to shop around and do your research because each bank will have different features, transaction charges, interest rates and added benefits. For example some banks offer free banking for a certain amount of time.

You should find an account that can offer the best interest rates and has a quality online banking service so that you can access your account instantly whenever you need to. Use the table above to compare different accounts to find the right account for you.

How to compare offshore accounts

When you have decided what type of offshore account you require you should look at the various providers in the market so you know you are getting the best account for your needs. When researching offshore accounts you should ask yourself some questions – what currencies do they offer? What are the fees and charges associated with the offshore account? How much interest will I earn? What are the access options available to me? When you know the answer to these questions you will be able to narrow down the various providers to choose an account suitable. Always read the terms and conditions so you are aware of any restrictions. If you are in any doubt then you should always seek independent financial advice.

OFFSHORE BANK ACCOUNTS - LATEST NEWS News and Charts

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The end of tax-free offshore bank accounts seems to be in sight as the Swiss government have agreed to a deal with the UK over Swiss bank accounts held by UK citizens. The deal, which is expected to increase tax revenue by £3 billion to £6 billion per year, will tax the accounts whilst maintaining the anonymity of the account holders.

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Oil company BP is facing a prospective seven-year ban on offshore drilling after a faction of US Congress agreed on new measures.

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10 June 2010
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Stocks fell on Thursday led in the main part by oil giant BP Plc after US President Barack Obama strengthened their attacks on the company.

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08 June 2010
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Aimed at higher level earners, offshore bonds are becoming increasingly popular according to financial advisers. Used as a wrapper around investments, the tax benefits of offshore bonds are especially popular with people whose tax relief is being limited.

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