Can we have an Offshore Account discussion or article please?

scottornp

Hi I recently joined the site and posted a request for information on offshore currrent accounts. I received just two responses, one of which I didn't understand fully and posted to that effect. However no further explanation has been made some weeks later. Whilst plenty of advise for onshore customers is given, there appears, please correct me if I am wrong, to be little or no advise about offshore current accounts on the site. There are lots of Brits who work as expats who spend some of their time in the UK visiting family friends etc who would benefit greatly from a discussion in this area. I'm sure it would also benefit some users living in the UK full-time too. Everything becomes a bit more complicated for offshore customers, so I feel we need the help even more. I'm looking for assistance personally with finding a good offshore multi currency account. I have experienced great problems with my Natwest offshore account every time I visit a UK branch to carry out any simple transaction, and am ken to move but just don't know where. I'll leave it at that for now, but hope that Martin might consider writing a guide to offshore accounts, or set up a discussion area for this.
Regards
Pierre

Turning_into_scrooge

Hi Pierre I used to have a joint off shore account years ago when we lived in Thailand. I'm sorry i must of missed your previouse request. What is it you need to know? I can promise to try and help you, cant promise 100% though as it is quite a few years back

scottornp

I'm looking for advice on which are the best current offshore accounts, and who offers them. I want to be able to keep funds in a range of different currencies, so that I can use the most appropriate one depending on exchange rates and where I am at any particular time. I would like to have sterling, US $, Euro's, and UAE Dirhams. I also need good customer service and internet banking to keep close tabs on things. The ability to pay money in and withdraw from the UK high street for times when I'm here in the UK would also be useful.
Regards
Pierre

Turning_into_scrooge

The bank account we had which is still running is with LLoydsTSB and is based in I.O.M it used to be Jersey. Halifax alos do an off shore account as i think Natwest do as well. As for currency the account we had for Thai Bhart was one of the main banks in Thailand but money could still be taken from an ATM from this account in the uk the same as the off shore account. WAges were paid into the off shore account in Thai bhart and converted into sterling. I do know that LLoydstsb do have off shore phone banking and also internet i have no idea as to the others. Sorry its not a great deal to give you but i'm rather rusty on this area.

jonesMUFCforever

Why don't you start by asking your UK bank what is available?
Eric

scottornp

Without meaning to be rude, I think that you are rather missing the point. Many people use this website to gain advice on which is the best 'whatever' for them. Thats exactly what I want to do regarding offshore multi currency current accounts. If I ask my Bank - Natwest (who I am fairly unhappy with) they will only tell me about their products. This does not inform me about who is offering the best service to meet my neeeds, hence the request for an article or discussion area centred on this.

jonesMUFCforever

scottornp wrote:

Without meaning to be rude, I think that you are rather missing the point. Many people use this website to gain advice on which is the best 'whatever' for them. Thats exactly what I want to do regarding offshore multi currency current accounts. If I ask my Bank - Natwest (who I am fairly unhappy with) they will only tell me about their products. This does not inform me about who is offering the best service to meet my neeeds, hence the request for an article or discussion area centred on this.

Fair enough but at least if you ask Nat West what is available you will have something to go on.
What exactly is 'best service'? Do you mean cheapest? or have the ability to use Internet? or be able to use UK branches to pay into currency account etc.??
Perhaps if you are able to provide information about exactly what you need and why then it might be easier for us to help you. What exactly are the problems you are experiencing in UK with Nat West. Is it purely ID queries or are you asking for info about your currency accounts which UK branches will not have answers to as they are held offshore?
Eric

isasmurf

There's a list of offshore subsidiaries of UK banks at the end of this article It's not a complete list as I know, for example, that the Co-op have an offshore current account.

Fatboy_NSS

The problem with your request is that MSE is primarily directed towards UK residents, therefore you're not going to find a wealth of knowledge on offshore accounts. I'm sure there must be plenty of message boards for UK expats and I suggest you take the initiative and try and find them, rather than expecting to have your hand held all the way.

scottornp

:mad: Thanks for such a helpful and constuctive post Fatboy! I'm off to find my mummy to hold my hand right now. How about if you haven't anything constructive to say, don't bother. Frankly I don't think its surprising that I've come on the banking message boards of a money saving website to ask for information on financial matters. I apologise for being so lacking in initiative (I don't know how I managed to find my way here on my own without your help) but after a response like yours I doubt I'll be asking for any assistance here again. What a friendly, warm, supportive and helpful person you are! If the other members of these forums are like you I really don't want their assistance! Thanks once again for being a rude, obnoxious $h1t!

jonesMUFCforever

Ther's only one obnoxious s#1t here and it is the poster who asked for help but won't tell us what he wants! No wonder he has a problem with his present bank!