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Safe, secure, flexible banking with an international account

By: Paul Dodd Posted: August-05-2013 in
Paul Dodd

I am sure some of you will have been concerned at the scenes outside banks and ATM machines over recent days. Crowds of people desperate to withdraw their cash are always guaranteed to

provoke a certain level of anxiety and concerns about whether your own funds are secure. This is even more concerning if you are an expat, geographically isolated from your traditional family support network. Is your money safe and if you need it in a hurry can you get to your cash?

If the recent scenes have caused you to worry then maybe you should look at the option of an international bank account. These accounts are tailor-made for expats, being particularly geared to those that work and travel regularly overseas. They are designed for flexibility, easy access and most importantly, security.

When it comes to your money, you want to know it is safe which is why international accounts are held in territories like the Channel Islands - where deposits are guaranteed up to a minimum level, whatever happens to the bank. This is normally set at around $75,000, which is more than enough for most people. That level of security is not available in most local banks in Asia where your money is genuinely at risk if the bank gets in trouble. International accounts grant expats the peace of mind of knowing that their funds are secure no matter the stability of their current country of residence.

Ease of access is another reason to consider banking with an international account. You can get to your money at any time from an ATM anywhere in the world and if a machine has run out of cash, you can just as easily make a withdrawal inside virtually any bank. International accounts expect their clients to move around so they don’t cut off your funds just because you are in a different country, unlike some banks I could mention. No longer will you find yourself in an exotic destination without access to cash because your bank didn’t expect you to visit there!

International accounts also have a number of other advantages including a very high level of confidentiality to keep your financial affairs private. Flexibility of transfers is also an important factor for many expats who often need to move funds around the world. International accounts have far fewer exchange controls that makes transferring funds around the globe simple and cost effective.

If recent events have got you worried about the security of your money and you want to look at a convenient, secure alternative, call Paul or Vanessa on 023 997 121.

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