Expats heading abroad to be better off
March 29, 2008 by admin
Filed under News, News-Banking
Almost half of British professionals who head abroad expect to be better off, according to the results of a new survey. 
Findings from Natwest reveal that the average wage for an expat is £67,000 compared to the UK average of £47,000.
The United Arab Emirates tops the expat wealth ranking with professionals earning an average of £79,000 a year while Portugal, at the lower end of the scale, has an average wage of £58,000.
David Isley, head of NatWest International Personal Banking, said that the wage packets of expats were very encouraging for those tempted by a move overseas.
“The expat wealth rankings shows that people who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living,” he continued.
Meanwhile, nearly half of first-time buyers would consider moving abroad in a bid to make their first step onto the property ladder.
International cheque scam foiled
November 11, 2007 by admin
Filed under News, News-Banking
An international scam involving fake cheques and postal orders that were destined for London has been foiled by the government’s Serious Organised Crime Agency.
Investigations have been on-going for a month in Nigeria, and as a result £8 million worth of fake cheques and postal orders have been seized. The scam has been described as sophisticated by officials, and a number of people in Britain have been arrested for their involvement in the fraud.
According to reports around sixty arrests have been made in countries around the world in connection with the scam, including arrests in Spain, Canada, Nigeria, the United States, and the Netherlands. During the operation fake passports were also discovered in addition to the fake cheques and postal orders. Around three thousand forged cheques that were due to go to an address in London were seized, along with an additional fifteen hundred forged cheques going to other London addresses.
UK residents have to pay out billions of pounds each year because of fake cheques that are used to purchase goods or get cash, and then bounce. Some of the cheques that were seized as part of the operation were already filled in for amounts ranging between three and seven thousand pounds. One of the scams in which such fake cheques are used in where consumes are told that they have won money or inherited money, and are asked to send in a fee to make their claim. They then receive a fake cheque, which then bounces once the bank discovers that it is fake.
Another scam involves consumers being told that the cheques are work processing cheques, and they send in the amount of money to cover the cheque and then bank the cheque, which later bounces.
Tom Smith
11th November 2007
Is international medical insurance something that you need?
August 27, 2007 by admin
Filed under News, News-Insurance
Most people in the UK are well aware of the benefits of having medical insurance, and many enjoy peace of mind thanks to the protection that this type of cover provides for them and their loved ones.
However, the needs of consumers looking for medical insurance cover have changed over recent years according to some industry experts, and this has also impacted on the type of cover that medical insurance companies are now able to offer to consumers.
Recent reports suggest that more and more consumers in the UK are opting to go abroad on a long term or even a permanent basis, with many deciding to head abroad to enjoy their retirement. Some younger people decide to head off abroad to enjoy some travelling experience and even to live and work abroad for a while. Many others travel abroad on a regular basis as a result of their work or business, again often spending extended periods of time in another country.
As a result of these lifestyle changes an increasing number of medical insurance firms are now offering international cover according to recent research, enabling those that intend to live or move abroad, or spend longer periods of time abroad, to enjoy the peace of mind of having cover even when they are away from home.
One industry professional stated: “We have done research that shows that the number of internationally mobile employees will continue to grow over the next five years. Add to this an extra 2.3 million Brits who are set to retire abroad and by 2020, and one in five older people who will be living outside the UK. So, naturally the number of companies providing international medical insurance has increased.”
Tom Smith
27th August 2007
