Offshore bank

[issan2]

Does anyone here use an offshore bank ? Ive used banks in

Jersey but now that Im living in Thailand I wondered whether

anyone had experience of offshore banks in the far east ?

Im thinking about security, reliability and internet access.

If anyone has any experience Id be interested to hear it.

[Roger13]

Hi Issan

Why? - What is wrong with the Banks in Jersey

I rely on my Bank in Jersey for past 5 years here.

Their Debit Card works in all machines I have tried.

They have On line Banking ...

What's the problem?

[issan2]

I use Lloyds in Jersey, their internet service hangs when I try

to use it. When trying to call them I have to use 0845

premium numbers. But most of all, we bought a phone line

from the same company as the one that runs the phone

boxes. Means I cant call internationally and have to keep

buying calling cards from BKK. Living in Issan its a hassle.

[Eneukman]

I bank with the Nationwide Building Society in Edinburgh and have been making enquiries about off-shore banking with them in anticipation of my planned move to Thailand. They have an office in the Isle of Man and whilst as far as I am aware, the account cannot be operated over the internet, it can be operated by telephone. Not ideal but OK if so long as you're not planning on phoning them every week.

Also, their 90 day notice account allows one instant access withdrawal of less than £10,000 to be made in one financial year (1 April to 31 March) without loss of interest.

Funds can be remitted direct to your account in Thailand if you specify which bank the money is to be sent to.

Alan

[MaiChai]

Co-op have an offshore branch in Guernsey. You get a Visa Delta card that works in all the ATMs I have tried in Thailand, they have Internet Banking, and you can make free transfers to and from UK banks as if it was an onshore UK bank. Highly recommended.

You can buy calling cards from 7/11s everywhere, and if you get a mobile its not so expensive (even on prepay) to call the UK.

[TRIPxCORE]

Maintaining an offshore bank is what I wanted to do also.  One issue I have trouble with is how to deposit money into your account?  You have to wire all monies to your account every time you want to deposit?  Sounds like a lot of trouble.

[Roger13]

Issan2

To phone UK & USA I would strongly

recommend PC Phone at:

http://www.iconnecthere.com/

You give them funds from your Credit/Debit Card

and use your Computer with a HeadPhone set

(or just a Microphone+Speakers)

To UK calls cost less than Bht 3 per minute.

If you are having trouble with Internet Connections

maybe you should try a different ISP

Can you say who you use just now?

I think it would be easier to try solving these problems

than changing your Bank.

Hope this helps

Roger

[Roger13]

Maintaining an offshore bank is what I wanted to do also.  One issue I have trouble with is how to deposit money into your account?  You have to wire all monies to your account every time you want to deposit?  Sounds like a lot of trouble.

I have not heard of any Bank that limits

deposits to wire transfers - have you got the name of any?

You can still deposit Cheques by Mail.

You can Purchase a Bank Draft and send that

by Mail for Deposit to your Account.

[MaiChai]

The Co-op allows transfers to from other UK banks with no costs. You can do this online too. Most of the other UK banks with offshore branches probably offer this too.

[wolf5370]

Try here:

Offshore Accounts Companies etc in Tax Free states

All the accounts are fully Internet accessable (including xfres etc) and come with Debit cards (some banks charge for these) - get good interest too 7%+ easily.

I have used them before and had no hassles. Bought a Panama registered company (new) with full power of attorney and 3 bank accounts (two with ATM cards and one with Visa Gold Debit). Get between 5% and 7.5% interest depending on balance (need $10+k US for above 7%) and bank.

[TRIPxCORE]

I have used them before and had no hassles. Bought a Panama registered company (new) with full power of attorney and 3 bank accounts (two with ATM cards and one with Visa Gold Debit). Get between 5% and 7.5% interest depending on balance (need $10+k US for above 7%) and bank.

Wolf, could you shed some more light on this subject?  What banks have you used offshore before?  Experience's?  Any details at all please, I am interested in this option.

[wilson steer]

Stick with Lloyds TSB offshore. Their internet works fine for me. If you want them to phone you just email them and they will phone you back every time. After all thats what you pay your £50 a year for!