Sensible Banking
Whenever a person moves abroad, they have a variety of options available to them to organize and manage their finances. One of the most vital things that a person should do once they have completed the transition of moving is to open a bank account in the new country of residence.
Some banks even allow people to open an “international account” while they are still residing in their home country. This can be very helpful as it allows a person to transfer some money to their international account before ever leaving. This ensures that they have money available for use when they arrive in their new country of residence.
Having an international account is also beneficial in terms of identification since the bank card or credit card will help you obtain other vital pieces of documentation (driver’s license, etc) in your new country. There is no rule or regulation that can force you to open a bank account in your new country of residence; however, doing so is recommended. You also do not need to close your bank account in your home country if you do not want to.
Any bank in the world has one purpose – money management. Banks always try to keep a person’s money in the banking system for as long as they can. As a result, moving abroad will not change this fact. It is recommended that an individual registers for online banking so that they can access their home country bank account from their new country of residence at any time. Online banking also gives you the option to suppress your bank statements so that they are not sent to an invalid address, as everything is available online.
Why bank offshore?
Most expats have a bank account in their home country to manage financial commitments like property payments and school fees. You also need a bank account in the country where you’re living to cover things like your rent, utilities and shopping. Banking offshore provides a link between all your banking arrangements, giving you easy international access to your finances and a central home for your money.
Accounts in a wide range of currencies
International current accounts are available in the three main currencies – sterling, US dollar and euro. All accounts come with a Visa debit card so you’re able to keep track off and manage your money more effectively. We also have a range of instant access and fixed term savings accounts in -various currencies to help you grow your wealth and
