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Expat Investor : November 2007
ADSL Stands for Asymmetric Digital Subscriber Line, which is broadband via a standard phone line. ONLINE BANKING November 2007 EXPAT INVESTOR 9 Fast Facts 99006 Enjoy the world of international private banking. Open an account with RBC and you will enjoy the benefits of a dedicated Private Banker to understand and manage your financial requirements and aspirations. Ideal for people who live or work overseas, or those who have investments, personal or business interests in more than one country. Choose from a range of currency options and online access offers you flexibility and control, while a VisaTM Gold debit card provides worldwide access to your funds. As a client of RBC you gain access to the RBC Financial Group network of offices and services including international banking solutions, credit solutions, a wide range of investment solutions and integrated wealth management solutions. The Executive Plus Account is a complete international banking solution. It's an account that will take you wherever you want to go. To fin d out more, please contact Emma Adam or Scott Grant on: +44 (0)1534 283838 email firstname.lastname@example.org or log on to www.rbcprivatebanking.com/private-banking.html BANKING • CREDIT • INVESTMENTS • TRUST • TAX CONSULTANCY FOR THOSE WITH WIDER HORIZONS. BANKING SOLUTIONS THAT TRAVEL WITH YOU. Understanding life, understanding you. INTERNATIONAL BANKING FOR GLOBAL LIFESTYLES. This advertisement is issued by Royal Bank of Canada (Channel Islands) Limited ("RBC"). RBC is incorporated in Guernsey and is regulated by the Guernsey Financial Services Commission in Guernsey and by the Jersey Financial Services Commission in Jersey. RBC is registered under the Banking Business ( Jersey) Law 1991, and the Banking Supervision (Bailiwick of Guernsey) Law 1994, to conduct deposit taking business and regulated under the Financial Services (Jersey) Law 1998 and the Protection of Investors (Bailiwick of Guernsey) Law 1987, to carry on investment business in Guernsey and Jersey. A copy of RBC's General Terms and Conditions are available upon request. As at 31 October 2006, RBC paid up capital and reserves were £269,582,000 and deposits are accepted in all major currencies. Deposits made with the offices of RBC in Guernsey and Jersey are not covered by the UK Financial Services Compensation Scheme. Copies of the latest audited accounts are available upon request from either the registered office: PO Box 48, Canada Court, St Peter Port, Guernsey, GY1 3BQ or the Jersey Branch: PO Box 194, 19/21 Broad St, St. Helier, Jersey JE4 8RR. ® Registered trademark of Royal Bank of Canada. Used under licence. VisaTM Registered trademark of Visa International Service Association, used under licence. You should note that depending on your citizenship, residency and financial status, some services may not be available to you and are only provided by certain sister companies of RBC. JSY/BKI/07/243 Abbey International 99150 Alliance & Leicester International 99151 HSBC Bank International 99152 Kaupthing Singer & Friedlander (IOM) 99153 NatWest International 99154 For more information just enter the above numbers on the Reader Reply Ser vice coupon on page 20 or visit www.expatinvestor.com FAST FACTS Download/Upload Data is downloaded from the internet onto your computer -- data which you'd pull off a website, or a piece of music. Uploading is when you transfer data from your computer to the internet -- such as via an email. Kbps/Mbps These stand for kilobits and megabits per second -- literally a measure of data transfer speed. MB/GB These initials stand for megabyte and gigabyte, which are measures of data storage. 1,024mb makes one GB. LLU Stands for local loop unbundling. This is where suppliers install their own equipment in an exchange which enables them to offer faster speeds and, one might expect, lower prices. What it all means Cap/Limit Refers to the restriction on the amount of data that can be transferred from the internet per month. meaning an end to waiting for three days for a payment to process. These payments are also free of charge, meaning an end to fees for transferring money abroad. This is made possible due to the fact that the systems are still part of the UK clearing system, BACS. Users are still able to undertake normal everyday transactions as if they were in the UK, but with the additional security built on top to allow immediate global payments. The future of internet banking will focus even more on technology developments and security. NatWest International's parent company, the Royal Bank of Scotland, has recently launched its mobile banking system, allowing customers easy access to their account from their mobile phones. Should the UK trial be successful, then the technology may well be rolled out to other parts of the RBS banking network. revealed that 80 per cent of people felt the need for a secure online banking system. So, in response, NatWest International recently launched a unique overseas banking product to the market in response to the demand from customers for a secure banking system that can easily be used anywhere in the world. The innovative ibanking and ibanking plus systems allows a user to access their account from anywhere in the world, as long as they can log onto a computer with an internet connection. ibanking not only allows a customer to transfer money, no matter how large the amount, but also to conduct banking transactions in a number of different currencies. The customer can be reassured that any transactions made are completely safe and secure. Accounts are accessed using a unique customer number, PIN and password. Customers can confirm banking instructions with a smartcard and card reader, which generates a unique password for each individual transaction. For many expats that can only access the internet on a public computer, the smart card and reader is vital. If a fraudster manages to access an account as a result of a user not logging out of their session properly, then any transactions are unable to be made by the fraudster, as this can only be done in conjunction with the card and the reader, which the customer takes with them. Likewise, should a customer unwittingly respond to a 'phishing' email, purporting to be from their bank, again, the fraudster is unable to take any money out of the account as a result of the card and reader not being present. The ibanking technology also means that customers can make sterling payments in real time,