Santander 13.5% ? Offshore

castle96

friend in pub (I know, I know !), who was born in Jersey/dual nationality), SWEARS that he "is investing off shore" with Santader and getting this rate. Is this possible on either a monthly or lump-sum ivestment. ? Surely not. Have looked on their site and all I can see is 3% +
Wasn't all this 'offshore' stuff 'outlawed' recently ?
He is a bit of a 'ballsh***r', but swears he is getting this. Some scheme/rate from the past ? Because he has dual nationality ?

dunstonh

Is this possible on either a monthly or lump-sum ivestment. ?

Certainly possible with investments over the last year. However, highly unlikely with savings.

Wasn't all this 'offshore' stuff 'outlawed' recently ?

No. However, the benefits of offshore investments are not what they once were but gross roll up can still help as well as the ability to defer. (re offshore bonds).

it is possible that you are confusing investing with saving or he is.

castle96

possibly he is not explaining himself adequately.

I have looked all over their site and I cannot find anything near this rate (otherwise I would be in there like a shot)

Oldbiggles

castle96 wrote: »

friend in pub (I know, I know !), who was born in Jersey/dual nationality), SWEARS that he "is investing off shore" with Santader and getting this rate. Is this possible on either a monthly or lump-sum ivestment. ? Surely not. Have looked on their site and all I can see is 3% +
Wasn't all this 'offshore' stuff 'outlawed' recently ?
He is a bit of a 'ballsh***r', but swears he is getting this. Some scheme/rate from the past ? Because he has dual nationality ?

Sounds like you friend is in an 'Investment fund' and not a savings account.
Stockbrokers and Financial Advisers are always reminding people that they could lose capital in funds if the stockmarket falls. So you should only invest what you can afford to lose.