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Expat Investor : August 2009
EXPAT SAVINGS Continued from page 3 to earn a monthly income from their offshore savings and have one withdrawal, of up to £5,000 per month, without notice or loss of interest. The account enables them to choose when and how they receive their monthly income, setting the date they get the monthly interest paid and which account it should be paid into. Bank of Scotland International’s capital guaranteed savings bonds guarantee customers’ initial capital deposit, whilst providing them with the opportunity to benefit from the performance of the stock market over a specified period of time. Portfolio Plus Issue 2 was the most recent capital guaranteed product from Bank of Scotland International. Four other capital guaranteed bonds have been launched by Bank of Scotland International across a range of different currencies and terms over the last year, which is testament to the popularity of this product. environment, we have found that customer priorities are changing. Interest rates alone are no longer the primary concern, and factors such as service, flexibility and security have become increasingly important to expatriate savers. “Customers can manage their savings wherever they are in the world 24-hours a day, 365 days a year, at a time that suits them.” As a leading international savings bank, Isle of Man-based Bradford & Bingley International (BBI) has always focused on providing a wide range of flexible products offering competitive returns coupled with high levels of service and customer support; this long-term strategy has further strengthened our market position as customers increasingly seek greater security in a rapidly changing economic environment. For customers who like to know BRADFORD & BINGLEY INTERNATIONAL In the current low-interest rate exactly what their returns will be, our Fixed Rate Bonds paying up to 4.00% gross p.a. AER with annual and monthly interest options available are proving to be extremely popular with expats; and for customers who prefer to benefit from any rise in interest rates, our current Tracker Bond is paying 3.00% gross p.a. AER above the Bank of England Base Rate. Our International eSavings Account, eAccess2, has also become increasingly popular with expatriates, who enjoy the additional flexibility of online banking. Customers can manage their savings wherever they are in the world 24 hours a day, 365 days a year, at a time that suits them. Customers have the added reassurance that BBI is a wholly- owned subsidiary of Abbey and the Santander Group, operating from the AAA-rated Isle of Man, and have over 20 years’ experience providing products and services to British expats around the globe. Our location, strong parental backing and wide range of flexible deposit accounts make Bradford & Bingley International the ideal choice for expatriates who want to maximise their returns. exception. And that is why many expatriates have now come around to the benefits of offshore banking. Offshore banking offers the ability to promptly change money into different currencies, when the rate is right which is fundamental to managing overseas finances and protecting against fluctuating exchange rates. “Offshore banking offers the ability to promptly change money into different currencies, when the rate is right which is fundamental to managing overseas finances and protecting against fluctuating exchange rates.” HALIFAX INTERNATIONAL Whether you spend a long time in one country or whether you frequently move across borders, personal finance is one area that you will want to be sure about without Expat Money– the definitive personal finance manual for Brits abroad THIS BOOK COULD SAVE YOU THOUSANDS OF POUNDS EXPAT MONEY is the unique personal finance guide for Brits abroad. It explains simply and clearly how to make the most of your money whenever and wherever you want. BOOK COULD SAVE YOU MANY USANDS OF POUNDS. EXP EXPAT MONEY The Definitive Personal Finance Manual for Brits Abroad HANNAH BEECHAM & JOHN O’MAHONY Topics covered include: ? currency exchange ? offshore banking ? banking abroad ? best buy savings products ? offshore mortgages ? expat investment opportunities ? insurance and health cover ? non-resident status – the expat’s best-kept secret ? dealing with the tax authorities - home and away EXPAT MONEY offers a comprehensive introduction to all aspects of expatriate personal finance and answers those essential money questions you’re sure to encounter. Whether you’re leaving to work, to retire or buying a second home, don’t leave the UK without it! About the author Hannah Beecham – the expat expert – is the most experienced and longest-serving journalist and editor in the expatriate finance sector. She was a founding member of the Financial Times magazine, The International, and for 11 years has been the editor of Expat Investor, as well as offshore finance editor of the International Express. EXPAT MONEY – the only guide to expatriate personal finance matters, is published by Summersdale (paperback, £8.99) and is available through all good bookshops and internet booksellers or through www.summersdale.com 4 EXPAT INVESTOR ? July/August 2009 expatinvestor.com IRISH PERMANENT INTERNATIONAL In a financial climate where security, competitive interest rates and personal service are key prerequisites for investors, Irish Permanent International (IPI) can offer these in abundance. IPI is part of the Irish Life and Permanent plc Group – one of Ireland’s largest It can also give access to offshore banking experts who understand what offshore banking is all about and give expatriates the financial help they need, regardless of their location. Halifax International provides simple offshore savings accounts, available in sterling, euros or US dollars, to British expatriates who are resident abroad through internet and telephone banking services. In April 2009, Halifax International launched the second issue of its capital guaranteed structured product ‘Portfolio Plus’, a five year sterling product, linked to the FTSE 100 Index, which offers a potential return each year for the five year term of 8% p.a. gross. Halifax International also has a Regular Saver Sterling account at 4% which enables customers to save between £100 and £2,000 per month. Its Variable Rate Web Saver account is available in sterling, as well as US dollars and euros and its Fixed Rate Sterling Web Saver account offers different rates across six month, one year, two years and three year terms. financial services organisations. As Ireland is part of the EU, this provides further security for depositors – additional peace of mind in the current economic climate. IPI has no call centres for the client to have to deal with and pride ourselves on providing a very personal one to one service to customers. An Isle of Man (AAA rating) licensed and regulated bank, IPI provides a range of deposit, lending and other banking services. These include international payments, foreign currency conversion service and American express cards. IPI offer a wide range of personal multi currency deposit accounts available to the expatriate. Available in sterling, euro, US dollars and other major currencies, our variety of offshore deposit accounts provide clients with flexibility and choice of currency. Our interest rates are very competitive and available on instant access, notice and fixed rate bond accounts. Our Instant Access account offers just that. Instant access to savings whenever you need them, with interest paid annually. Depositors need a minimum balance of £/€/$500 and have the choice between an annual interest, monthly interest and a deferred interest option. “Available in sterling, euro, US dollars and other major currencies, our variety of offshore deposit accounts provide clients with flexibility and choice of currency.” For expats who don’t mind having their money tied up for longer, but still want the flexibility of having it available at short notice, the 30 Day Notice account is ideal. The minimum balance for this is £/€/$10,000 and provides monthly or annual income options with a deferred interest option. The higher interest rates available tend to be associated with the Fixed Rate Bonds, where you can earn 3.30% fixed for one year sterling deposit. The minimum balance for this is £/€/$10,000 and provides monthly or annual income options with a deferred interest option. At Irish Permanent International we have a dedicated relationship team and are proud of the service we offer – wherever you are in the world. EXPATEXP MONEY HANNAH BEECHAM & JOHN O’MAHONY
May June 2009
September October 2009