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Offshore Accounts
The_Fiddler_2
Posts: 565 Forumite
My Halifax Regular Saver has just ended and it got me looking at other accounts including their International Regular Saver. Can anyone open these off shore accounts? What is the catch? Do offshore accounts have better interest rates?
Noobie (not so 
) trying to make loads a dosh - please bear with all my questions :beer: Thanks
) trying to make loads a dosh - please bear with all my questions :beer: Thanks 0
Comments
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Can anyone open these off shore accounts?
There are often restrictions based on residency but apart from that yes.What is the catch?
No FSCS protection (although thats not really an issue anyway).Do offshore accounts have better interest rates?
Not particulary. Not until you get into the large sums and can get access to institutional rates.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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