Skipton international

3431Anna

Does anyone know a anything about skipton international building society.
Are they a good place to save 

amanda1024

I think there’s two separate organisations: Skipton building society, which has decent rates, the usual protection for savings, actual in person branches etc. I have an account with them and haven’t had any issues. And then there’s Skipton International which is an offshore bank with all the risks and benefits that brings

eskbanker

amanda1024 said:

I think there’s two separate organisations: Skipton building society, which has decent rates, the usual protection for savings, actual in person branches etc. I have an account with them and haven’t had any issues. And then there’s Skipton International which is an offshore bank with all the risks and benefits that brings

Such as deposit protection only being available from a tiny territory's scheme:

Skipton International Limited (Skipton), registered in Guernsey: 30112, is a wholly owned subsidiary of Skipton Building Society. Skipton is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 2020, as amended. All agreements with Skipton are completed in Guernsey and governed by Guernsey law. Skipton is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £50,000, subject to limitations. 

Albermarle

3431Anna said:

Does anyone know a anything about skipton international building society.
Are they a good place to save 

You would not normally have an offshore account unless you had a specific reason to have one.
Offshore savings accounts: should you get one? - Which?

DullGreyGuy

3431Anna said:

Does anyone know a anything about skipton international building society.
Are they a good place to save 

They are for ex-pats (or others) who want to hold GBP but cannot have a UK account because they aren't resident in the UK. 

You dont get the protection of the Financial Ombudsman of the FSCS because they aren't UK based but instead the much smaller channel island equivalent. Likewise their regulation is lighter based no their jurisdiction.