Offshore banking

Offshore, synonymous with foreign (though this is used more in reference to the tax authority), transnational, global, international, transworld and multi-national, has become significant not only out of your country jurisdiction but out of the tax reach of your country of residence or citizenship.

Offshore banking refers to banking in a jurisdiction other than the one in which you live and sometime is also associated to banking located in tax heavens countries.
When moving to a new country, quite often you have to open a bank account to take care of transactions locally, but sometimes, your needs cannot be met by the local banks, like frequent money transfers between currencies or between oversea bank accounts, set up a mortgage in a foreign currency or pay recurring bills in your home country.

Offshore banks are able to offer financial services that make it easier for expatriates to lead their mobile lives. These  services include but are not limited to:

• internet and telephone banking to let you access your money from any time zone
• offering higher yields, without losing any of the flexibility and benefits of a current account
• fixed deposit accounts in a wide range of currencies for money you don’t need in a hurry.
• accounts, international currency charge cards and mortgages in your choice of major currencies
• currency charge cards in various currencies to give you easier access to your money while abroad
• making investments in a number of currencies and in foreign markets
• taking advantage of financial benefits to living and working abroad
• asset protection and estate planning

For information about international banking for expats, you can check:
website: www.offshore.hsbc.com

For an extensive list of international online investment banks, use this web site:
website: www.griffonbank.com/sitemap.html