Cash in the UK.....Living in New Zealand

ianm41

Hello all

Just after some ideas/advice..... We live in NZ have done for 5 years but have maintained A Nationwide current/e-saver /credit card accounts. The main reason being is that I get an armed forces pension paid monthly into it.
We are tax resident in NZ so I pay all tax, including tax on my pension here.
My problem is that we have a fair amount of money left in the UK, I will not bring it over at the moment as the exchange rate is very poor..currently 2.09 to the pound. To put that in perspective when I exchange my main amount we got 2.92. As I'm not really needing the cash left in the UK yet...its 28000 pounds,plus pension every month of 680.I want to invest it in somthing other than the paltry 0.45% gross I get from the Nationwide e-saver account.
Nationwide won't let me open any other account as I am non-resident in the UK.
so question?...are off shore accounts such as Nationwide International paying 2.6% a good idea? are they as safe as uk based investments?
I don't want any risk...I don't want shares....been there done that..I don't want to tie it up for any significant length.
So guys..any ideas gratefully received.

Thanks Ian

housesitter

Do you still have family here?
Are they willing to let you use their address for mail?

apt

Nationwide International is very unlikely to fail. If it did you would be covered by the Isle of Man compensation scheme - currently covers 100% of the first £30,000, 90% of the next £20,000. http://extranet.tynwald.org.im/MA/TynwaldPapers/2010-SD-0683.pdf

Loughton_Monkey

I think you are looking for an Offshore Account - probably Jersey or somewhere like that.

Barclays, for example seems to be advertising some sort of 5% monthly saver for up to £2,000 a month. Other rates, though, do not seem to be advertised. You have to call them.

Santander and HSBC seem to be paying fairly derisory figures at the moment - 1.5%-ish