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Expat Investor : September October 2009
BANKING September/October 2009 EXPAT INVESTOR 5 Take comfort in the knowledge there is a private bank that can guide you safely through stormy waters. For details, please call +44 (0) 1624 645000 or visit www.fairbairnpb.com 2009 Winner Best International Wealth Manager 2008 Winner Best International Private Bank Group Best International Wrap Provider 2007 Winner Best International Private Bank Best International Investment Platform Provider 2006 Winner Best Offshore Bank Best Commitment to Service 2005 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) Best Internet Service 2004 Winner Best Offshore Bank 2003 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2002 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2001 Winner Best Offshore Banking Product Range distinctly different Fairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited. Fairbairn Private Bank (IOM) Limited is licensed by the Isle of Man Financial Supervision Commission to take deposits and provide investment services. Registered office: St Mary's Court 20 Hill Street Douglas Isle of Man. The London office is authorised and regulated in the UK by the Financial Services Authority. UK Financial Services Authority registration number: Fairbairn Private Bank (IOM) Limited 313189 (EXINV) A private bank that will stand the test of time. deal with multi-currency transactions. One of the key benefits of holding funds offshore is that you will not be subject to exchange control restrictions and there may also be some taxation benefits, depending on your individual circumstances. Many expatriates use their time overseas to significantly build up their savings and we offer a specific bank account for you. With a minimum balance of £10,000, our Expatriate Savings Account allows you not only to gain a better interest rate but lets you make quarterly withdrawals without penalty. One key benefit is that this account comes with a deferred interest facility, meaning that you can opt for interest on your savings to be applied only when the account is closed. This can be an extremely useful tax planning tool especially if you have moved to a jurisdiction with lower tax rates. If your financial affairs are more complex and you have significant assets, we recognise that you may need a greater amount of personal service and tailored advice. Standard Bank has an established Private Client service that offers a partnership between you and your advisor. We have a dedicated team that aims to develop a deep understanding of your requirements and our relationship managers pride themselves on their ability to offer a discreet and knowledgeable service. SKIPTON GUERNSEY Time is money, as the saying goes, and certainly in today's busy world we never seem to have enough time. This is often true for those living in different time zones around the world who can experience difficulties with timing when it comes to their financial transactions -- especially when it comes to making deposits and withdrawals in foreign currencies into offshore sterling deposit accounts from abroad. Skipton Guernsey's foreign exchange currency transaction service aims to simplify the process, providing clients with a convenient way of making deposits and withdrawals in a foreign currency. This practical service allows clients to deposit into their sterling Guernsey account in any of the world's major currencies, such as US and Australian dollars, euros or Swiss francs. Clients making deposits are provided with instructions to transfer funds to Skipton Guernsey's London Correspondent bank, where these funds are sent to Skipton Guernsey and converted into sterling. The service is also available for currency withdrawals wherever clients are living and working. So if they are perhaps in the Middle East and need a US dollar withdrawal, Skipton Guernsey can arrange for funds to be sent to their bank account in this currency. The whole process generally takes just a few days and the client pays the nor mal money transmission fee of £25, plus agents' charges where applicable. Skipton Guernsey have also recently launched Guernsey based US dollar and euro accounts, so for those customers who earn in euros or US dollars and want to save in euros or US dollars, the process is even easier, as no foreign exchange is needed. We are committed to offering our clients excellent service to help ensure that their financial life runs smoothly. We know that currency exchange is often the Achilles heel of money transmission. We feel that our accessible currency service for both deposit and withdrawals sets us apart and helps our clients make the most of their savings. "We have a dedicated team that aims to develop a deep understanding of your requirements and our relationship managers pride themselves on their ability to offer a discreet and knowledgeable service." "This is often true for those living in different time zones around the world who can experience difficulties with timing when it comes to their financial transactions -- especially when it comes to making deposits and withdrawals in foreign currencies into offshore sterling deposit accounts from abroad."