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Expat Investor : May June 2009
NEWS ROUND-UP A protective package from Caxton FX FX will hold money on behalf of clients in accordance with the FSA’s client money rules, which means money is held in a segregated account in an EU regulated credit institution (bank or building society). This protective package is designed to safeguard client money in the event that the company were to experience financial difficulties. In addition to the segregated accounts, private investors’ funds are protected under the Financial in the UK.” Caxton FX is also promoting its enhanced currency calculator, available for visitors online at www.caxtonfxcard.com . The Interactive Savings Calculator is a clever gadget as it evaluates the costs of using your debit or credit card overseas and shows the savings you could make if you were to use a Caxton prepaid currency card – as much as £70 for one week abroad, says the company. “The Interactive Savings Calculator is a clever gadget as it evaluates the costs of using your debit or credit card overseas and shows the savings you could make if you were to use a Caxton prepaid currency card – as much as £70 for one week abroad, says the company.” Services Compensation Scheme, which is designed to guarantee funds up to a limit of £48,000. Rupert Lee-Browne, Caxton’s Chief Executive, says the introduction of the scheme is a great step forward for the company and the industry. “Clients want to know that their Caxton FX, the foreign exchange company, now offers a client money protection scheme which is authorised and regulated by the UK’s Financial Services Authority (FSA). This moves means that within the unregulated forex industry, Caxton FX is the only broker to ensure the safety of clients’ money through segregated Client Money Accounts. Under the new service, Caxton Savings accounts with guidance funds are safe when they use a currency broker. As the only company in this sector who can offer real protection to customers, our aim is to ensure clients have peace of mind when using our service.We welcome the scrutiny of an independently regulated body since it offers clients genuine comfort about the safety of their money. It sets Caxton FX apart from all other currency companies The calculator asks website visitors who they bank with and then estimates their holiday expenses through six multiple choice questions, using the data to compare the cost of using a bank card versus a Caxton FX card. Caxton FX prepaid currency card is a MasterCard specifically designed for use abroad. It works like a pay as you go mobile phone – load with euros or dollars before you go away and use it exactly like your debit or credit card. Caxton FX offers a best exchange rate guarantee, promising to make up the difference if you find a cheaper rate elsewhere. Purchases in shops and restaurants are free, and the card is free to obtain. Alliance & Leicester International (ALIL) is giving away a free copy of Expat Money: The definitive personal finance manual for Brits Abroad by Hannah Beecham to expatriates who open one of its eSaver Offshore or Select International accounts. 10 EXPAT INVESTOR ● This promotion complements the launch of ALIL’s Select International range, which is made up of three accounts – Select 50 International, Select Income International and Select International. The eSavings range includes the eSaver Offshore May/June 2009 Flexible Income, the eSaver Offshore and the eSaver Offshore Notice 50 account. Each of these accounts has noticeable features aimed to attract the expat saving community, so it’s worth logging onto the website to find out more. expatinvestor.com ALIL also offers expats euro and US dollar accounts, fixed rate bonds and a range of non-personal accounts. ALIL’s internet banking service, MyBankOffshore, promises a secure and convenient service whereby customers can access all account details, submit instructions (any time, day or night) and check up on current interest rates. All account enquiries can be made online at www.alil.co.im or by calling +44 (0) 1624 641 888 to request an application form.
March April 2009