Offshore Bank Accounts

Following the Bank of England’s decision to leave UK Base Rate unchanged for September, Abbey International said that it feels a further rise in UK interest rates could still be possible this year, if the risks for inflation remain on the upside.

Offshore banking provider NatWest International Personal Banking (IPB) reports a successful launch of their ibanking product;

Abbey International has responded to the change in UK Base Rate in July and has again passed on the full 0.25% increase to its Gold account and Instant Access Savings account customers. Abbey International has already raised savings rates by 0.25% on all of its Base Rate Tracker family of accounts two days after the UK Base Rate rise in July.

Alliance & Leicester International Limited (ALIL), the offshore savings bank, has reviewed its savings portfolio and increased the rates on its offshore savings accounts, including its new eSaver Offshore Issue 1 account, which now has a market leading rate of 6.40% gross pa/AER.

Abbey International has responded to this month’s announcement by the Bank of England Monetary Committee increasing UK Base Rates to their highest level since 2001.

Abbey International has responded to the rise in European interest rates last month by passing on the full 0.25% increase to all customers with deposits of more than 20,000 Euros in its Gold account or 25,000 Euros in its Call account with effect from 2 July 2007.

Nationwide International has announced that it will be launching US Dollar and Euro Tracker Premium accounts with effect from Wednesday 1 August 2007.

Bank of Scotland International has increased the interest rate on its Euro Halifax International Guaranteed Saver account to 4.25%, with immediate effect.

Alliance & Leicester International Limited (ALIL), the offshore savings bank, has launched a new internet savings account, which will revolutionise the world of offshore banking – it offers a market leading rate of 6.15% gross (AER), whilst enabling expatriate customers to both apply for and manage their savings online.

Scarborough Channel Islands Limited (SCIL) is establishing a reputation as a provider of market-leading offshore accounts after just one month of trading.