United Kingdom
Banking in United Kingdom
United Kingdom Business Experts
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Why Bank Offshore?
Opening an offshore bank account is an important consideration for anyone moving overseas whether on international work assignments, for an extended period or even to retire. There are many advantages of an offshore banking account and there are a number of factors to be considered when choosing where to open one. The primary consideration is safety and security of your hard earned money. You should choose an offshore jurisdiction which is well regulated and has long term political stability. You should then consider that you will most likely be dealing in currencies other than your home currency.
Your offshore bank should be able to provide banking services and international payments in all major currencies so that you can manage your financial affairs in the currencies of your choosing. And of course you need to be able to access your funds with ease. International transfers, phone banking and International Debit cards are essential here.
What's becoming an invaluable financial tool in the expatriate lifestyle is Internet Banking. Most banks today provide internet banking, but not all can provide it in multiple currencies, with the ability to make international payments and transfer between currencies online. While it may not always be a primary consideration, many expatriates find that an offshore bank account can form part of your overall tax planning solution. Independent tax advice is always recommended in this case.
Finally your offshore bank should be able to provide you with access to the full range of specialist offshore products and services such as offshore mortgages, travel, medical and critical illness cover and expatriate tax advice.
The information provided in this guide gives only general guidance and does not constitute tax, legal, investment or any other advice.
Organisations that can assist with Banking
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> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
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> Paul Beare Ltd
Paul Beare Ltd are UK based accountants and legal advisors to overseas companies setting up in the UK. They work with companies either entering, or already operating in the UK.
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> Suits Me
Suits Me is an alternative banking solution with an e-money license, offering banking services to people who find it hard to open a regular bank account because of their credit score or no proof of address.
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> Woolsocks
Saving money, as was done in the past in some cultures in wool socks, is still possible today, but with virtual socks! For this reason, we've created Woolsocks, a new app to manage own personal finances.
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> Freedom24
The Freedom24 online trading platform by Freedom Finance contains 1 000 000+ investment products including new stocks at their IPO (initial) price.
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> Coinbase
Coinbase offers a user friendly platform allows you to buy and sell more than 30 cryptocurrencies.
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> Nexus
Nexus provides a bespoke advisory service across a range of areas for international clients. We combine a fresh approach with professionalism and expertise, offering a comprehensive, tailored services in today’s global and competitive market.
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> YouHodler
YouHodler's FinTech platform is focused on helping you earn money on your Digital Assets, by using your crypto savings account. Earn Bitcoin (BTC), Pax Gold (PAXG), USD Coin (USDC), Tether USD (USDT) and more.