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Expat Investor : September October 2009
BANKING expatinvestor.com 4 EXPAT INVESTOR September/October 2009 wherever they are. We understand the need for a range of financial solutions, from basic banking to cross border estate planning, that are available from anywhere in the world, and work with our customers to find the best solutions for their individual needs. We appreciate the importance of banking at a time that suits the international lifestyle and offer 24/7 Internet Banking, a 24 hour Je rsey based contact centre or the dedicated service of a Relationship Manager. Global View is a unique and innovative online service to allow customers to view all their HSBC accounts worldwide at the same time. Customers can, in real time, securely transfer deposits across currencies into their own accounts currency deposit accounts to the expatriate. Av ailable in sterling, euro, US dollars and other currencies our variety of offshore deposit accounts provides you with the flexibility and the choice of currency you would like to invest in. Our rates are competitive and available on instant access, notice and fixed rate bond accounts. Our Instant access account offers just that -- instant access to your savings whenever you need them, with interest paid annually. You need a minimum balance of £/ /$500 and have the choice between a monthly interest or a deferred interest option. For those expatriates who don't mind having their money tied up for a bit longer, but still want the flexibility of having it available the 30 day Notice account could be for you. The minimum balance for this account is £/ /$10,000 and in multiple countries, wherever they have internet connection. In this time of financial turbulence, it's important to plan for the future and keep your nest egg protected. We have a highly trained team of Wealth Managers dedicated to creating individual investment portfolios to help our customers achieve their financial goals by providing truly independent advice and continuing to review each portfolio according to market activity and changing personal circumstances. Administration from halfway across the world can also often be a concern for expats. Our AssetMaster nominee service allows investments to be registered on a global platform for valuation and custody purposes, and this ensures administration and ownership issues are efficiently managed. This has significant benefits for international customers and also for probate issues. Tax and estate planning can be difficult, particularly with spouses of differing domiciles and assets in several jurisdictions. Fortunately Je rsey is blessed with internationally recognised experts in this area and our advisors can bring together the appropriate team of specialists to help our customers to plan their financial affairs. IRISH PERMANENT INTERNATIONAL Irish Permanent International offers a wide range of personal multi provides monthly or annual income options with a deferred interest option as well. If you are looking for a longer term investment with greater potential for growth it might be worth considering our Fixed Rate Bonds. These are available on 3, 6 and 12 month ter ms. The 6 and 12 month terms are available in sterling, euro, US dollar and other major currencies, whereas the 3 month term is available in sterling only. A minimum balance of £/ /$10,000 is required for sterling and euro, with interest paid or invested on maturity. For example our 1 Year Fixed Rate Bond offers 3.30% on £10, 000, 3.25% on 10,000 and 2.75% on $10,000. To further assist in money management we also offer lending, foreign currency transactions, bank telegraphic transfers and American Express card. LLOYDS TSB INTERNATIONAL The global economy appears to be going through its worst recession since the Second World War and also its first synchronised downturn in 60 years. So wherever you are in the world you will almost certainly be feeling the impact of the economic storm. In recent months, savers and investors have seen sharp falls in the equity markets accompanied by very low interest rates, even while inflation has been quite high. Investors have suffered capital losses while income from cash investments has declined. However, amid the tur moil some opportunities remain. Cash is not now as low a return as might be expected, given that banks around the world are keen to increase their deposit holdings. Some, including Lloyds TSB International, offer attractive fixed deposit rates. And those returns might become even more attractive in real terms if inflation falls sharply over the next year. It's also possible to find funds which, rather than investing on the volatile markets, pool investors' money and place it on deposit with institutions like an individual would. The difference, of course, is that such funds are able to negotiate higher rates of interest. There might also be opportunities from some riskier investments. The equity markets often turn up before the economy begins to recover, meaning that current valuations may offer a long-term growth opportunity despite significant near- term risks. Lloyds TSB International has a range of offshore funds available to meet the needs of most investors. Andrew Pipe, Senior Economic Adviser at Lloyds TSB International says, "Despite the current gloom, the unprecedented policy response around the world to this recession may now be having an impact. Many surveys of business activity and consumer confidence, in the US and UK particularly, have risen off their lowest levels. Howeve r, w e don't expect economies to regain their pre-recession levels of output quickly -- possibly not until 2012 in the UK." NATWEST INTERNATIONAL Different time zones, currencies and languages can present real challenges for those living and working abroad, and we understand that expatriates and internationally mobile customers need different things from their bank to those who live in the UK. So we have tried to create a range of first class products and services designed especially for them. Advantage International is tailor- made for internationally mobile personal customers. The account is designed to accommodate multiple income streams in different currencies, so wherever income is coming from, people can relax knowing they can all be paid into the same account and either held in that currency, or transferred into the currency of their choice. The additional benefits include charge cards in sterling, euro and US dollar, travel insurance and restaurant, hotel and show discounts, Advantage International is the ideal account for those with either £25,000 to deposit or an annual income of £75,000+. However, for internationally mobile customers there is no point having the perfect account, if they only have limited access to it at times that don't suit. When living in a different time zone, this can be easier said than done. This is why we have developed the multi-currency electronic banking service, ibanking. It's secure and easy to use yet sophisticated enough to handle personal banking needs, ibanking is available 24/7 from anywhere in the world, meaning that expats and the internationally mobile are never more than a mouse click away from the infor mation they need. NatWest International also offers a dedicated Relationship Manager, 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. 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 "... for internationally mobile customers there is no point having the perfect account, if they only have limited access to it at times that don't suit." "Customers can, in real time, securely transfer deposits across currencies into their own accounts in multiple countries, wherever they have internet connection." "Our Instant Access account offers just that -- instant access to your savings whenever you need them, with interest paid annually." "Lloyds TSB International has a range of offshore funds available to meet the needs of most investors." Continued from page 2