offshore banking

Lumber_Joe

Along with numerous advantages offshore bank account have, there are some points that make their usage quite inconvenient:

1. Despite the fact that many reputable offshore financial institutions (such as HSBC, LLoyds TSB, Barclays and many others) claim that "offshore bank accounts are for everybody", this is not true. They place minimum annual income restriction that is usually placed to open offshore bank account is that a person must have annual income of $20,000;

2. Secondly, offshore banks require their customers to keep certain minimum balance on their offshore account. Usually something like 5000 euros or $10,000. Quite painful, isn't it?

3. Offshore bank accounts tend to have high fees.

cloud_dog

Lumber_Joe wrote: »

Along with numerous advantages offshore bank account have, there are some points that make their usage quite inconvenient:

1. Despite the fact that many reputable offshore financial institutions (such as HSBC, LLoyds TSB, Barclays and many others) claim that "offshore bank accounts are for everybody", this is not true. They place minimum annual income restriction that is usually placed to open offshore bank account is that a person must have annual income of $20,000;

2. Secondly, offshore banks require their customers to keep certain minimum balance on their offshore account. Usually something like 5000 euros or $10,000. Quite painful, isn't it?

3. Offshore bank accounts tend to have high fees.

Eh? Where did this come from?

sabretoothtigger

Santander is a European bank primarily, how hard could it be. I expect alot of the best accounts will require an address in that country

ambepc

Lumber_Joe wrote: »

Along with numerous advantages offshore bank account have, there are some points that make their usage quite inconvenient:

1. Despite the fact that many reputable offshore financial institutions (such as HSBC, LLoyds TSB, Barclays and many others) claim that "offshore bank accounts are for everybody", this is not true. They place minimum annual income restriction that is usually placed to open offshore bank account is that a person must have annual income of $20,000;

2. Secondly, offshore banks require their customers to keep certain minimum balance on their offshore account. Usually something like 5000 euros or $10,000. Quite painful, isn't it?

3. Offshore bank accounts tend to have high fees.

could a single mum on an anual income of £15k be able to open an offshore account... i am veyr thrifty and am able to save more tham half my annual income... about 8k ayear.

sovereignlife01

Hi guys I'm Steve and I'm just a new member here, I am really interested about offshore banking and finance, What I mean is the best and safe strategy about banking.

It would be so great and highly appreciated if I do got any replies there?

Thank you very much and the Pleasure is mine to meet you all guys.

Thanks,
Steve

digerati

You can open a Euro account in any EU country in the Euro zone with minimal formality. You'll need to provide a copy of your current passport or photo ID, and a couple of supporting letters/bills to confirm address. By all accounts Belgium or the Netherland banks are easy to work with and are all multilingual.

Hepatitis

brad171080 wrote: »

hi,

On monday i purchased aprox 9400 euros, it's money i need for a foreign investment installment that is due in August 08, bought now because i feared the pound could continue to weaken as the year pressed on. At the moment the money is witht the broker, they are waiting on account details from myself for them to forward the money too. Like an idiot i didn't prepare well for where i could put the money. I don't really want the money in their account gathering interest for 8 months but i have no offshore account to date.

Am i correct in assuming i need an offshore/International account to hold my Euro's? I had a quick look around last night and some accounts want a minimum of 10k euros, others won't allow any withdrawls in the first 12 months, both of these obviously unsuitable for my needs. Can anyone recommend an offshore account or does anyone think im better off just leaving the money where it is as i will only have it in my account for a relatively short space of time.

Thanks in advance

Brad

I don't think you need an offshore bank account just for holding euros. There are many UK banks that offer euro accounts.

atush

I have ones with Barclays and HSBC.

But that was a 3 yr old post so really didn't need to be told 3 years later lol.

Hepatitis

atush wrote: »

I have ones with Barclays and HSBC.

But that was a 3 yr old post so really didn't need to be told 3 years later lol.

Note taken. I will try to reply to newer posts in the future