local bank vs offshore vs UK bank

mikesharp Active member

Member since 12 April 2011

mikesharpActive member26 May 2012 18:54:41

Hi guys, I was wondering from your personal experience what do you use for banking?

I'm thinking of an offshore account which I will open before I arrive to KSA.

cheers
mike

LoopyLou87 Serial expat

Member since 12 November 2011

LoopyLou87Serial expat27 May 2012 09:16:00

526

Hi, please share what offshore account you are looking at/using (PM me) I am looking but I am so confused by all of these but my husband keeps telling me to look for something. UK accounts have quite low interest rates in comparison, but obviously are a little safer in terms of dissapearing with all your cash. At least I know who RBS and such are.

trevorcox Active member

Member since 23 May 2012

trevorcoxActive member27 May 2012 19:22:18

Good Evening
HSBC Jersey is as good as any for a brit --especiall if you have an HSBC UK account.
Other wise any of the main stream banks have off shore facilities.

Regards

mikesharp Active member

Member since 12 April 2011

mikesharpActive member27 May 2012 19:33:05

Well, HSBC requires to have 25K. From the website:

Am I eligible?
If you have £25,000, or currency equivalent, and you're aged 18 or over, you're eligible to bank, save and then invest with us.

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RehabDoctor Serial expat

Member since 13 April 2012

RehabDoctorSerial expat22 June 2012 10:14:36

279

Lloyds offshore is good option with free international transfers and you only need to have a balance equal to £2500 to avoid monthly fees. I have looked at different options this one is most cost effective.