Record deposits in banks for April
According to recent reports April saw consumers in the UK deposit record savings in high street banks, with many rushing to take advantage of higher returns on deposits. Reports show that there was a surge in the level of deposits made by savers in the UK, with many trying to put money aside in order to try and combat the increases in living costs. However, the report also showed that only 50% of consumers see the need to put money aside in savings. Read more
Tags: record, Offshore bank, bank deposits, high street banks, Financial institutions, consumers, ISAs, savers
Expats urged to consider offshore savings benefits
January 4, 2008 by admin
Filed under News, News-Banking
While internet banking is 
popular with expatriates, they are not using it to take advantage of offshore savings accounts, it has been suggested.
A poll by Alliance & Leicester International (A&L International) revealed that 92 per cent of Brits living abroad used online banking to manage their finances.
However less than a third had an offshore savings account which, the bank suggested, meant they were losing out on a range of advantages including good rates of return and the potential to hold or send funds in currencies other than sterling.
A&L International managing director Simon Hull said: “With internet access now so readily available, offshore consumers should take advantage of internet banking and saving.”
More than half of homes in the EU have internet access at home, the research found.
In addition, expats wanted online banking options when setting up an offshore savings account.
Based on the Isle of Man, A&L International claims to be one of the largest offshore deposit takers and has share capital and reserves of more than £150 million.
NatWest launches online multi-currency system
August 15, 2007 by admin
Filed under News, News-Banking
The launch of NatWest’s new ibanking product has been successful, the offshore banking provider said today.
An internal survey of 500 customers showed seven-in-ten saying that the product made them more confident about banking online.
ibanking is a multi-currency banking product which is conducted online. Customers can therefore access their account and transfer funds from anywhere in the world, and view their details through entering their customer number, PIN and password.
Head of NatWest International Personal Banking Julian Gouge said: “We recognise that online security is a key concern in today’s society and the ibanking system gives customers the reassurance they need when making transactions and controlling their finances.
“Whether you are enjoying yourself on holiday in Jamaica or working in Japan, ibanking allows you to make payments and manage your finances within seconds at any time of the day or night.”
Offshore banking products for customers are provided by many other high street banks in Britain, including Lloyds TSB and HSBC.
