Offshore Bank Accounts

They may be living overseas, but staying in touch with friends and family back home is a priority for expatriates, with almost two thirds (63%) using the internet daily to email loved ones, according to a recent study from Alliance & Leicester International (ALIL).

Nationwide International, the offshore subsidiary of Nationwide Building Society, has announced that it will be decreasing interest rates on its US Dollar Savings and US Dollar Tracker Premium accounts by 0.25% with effect from Monday 3 December 2007.

Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “In the wake of the onshore savings rate war, first in the fixed rate market and subsequently with variable rate products, the offshore market has stolen the march in the last week, offering rates to win the battle hands down.

Over two thirds of expatriates (70%) do not prepare themselves financially when they first move abroad, as only 30% set up an offshore savings account, according to new research by the offshore savings bank Alliance & Leicester International Limited (ALIL).

Scarborough Channel Islands Limited (SCIL) is launching a highly competitive new savings account combining penalty-free access with a medium term rate guarantee.

Alliance & Leicester International Limited (ALIL), the offshore savings bank, has today increased the rate on its e-Saver Offshore Issue 1 account, to a market leading 6.51% pa gross/AER.

Scarborough Channel Islands Limited has re-launched its popular Rollover Bond to make it even better.

Nationwide International, the offshore subsidiary of Nationwide Building Society, has announced that it will be decreasing interest rates on its US Dollar Savings and US Dollar Tracker Premium accounts by 0.50% with effect from Monday 1 October 2007.

Nationwide International, the offshore subsidiary of Nationwide Building Society, is to raise the top interest rate available on its Base Rate Tracker Premium account by 0.25%.

Bank of Scotland International has increased the interest rate on its six month Halifax International Guaranteed Reserve Account.