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Expat Investor : January February 2008
NEWS January/February 2008 EXPAT INVESTOR 3 * Online Application Process is defined for the purpose of this advertisement as a process enabling the customer to contract electronically and submit an application online without having to print, sign and post a paper application form. **On balances of £1+. Includes 0.50% premium for making no more than 3 withdrawals in 1 April - 31 March. ***Gross rate 5.40% PA, minimum balance £5,000. ****Gross rate 5.37% PA, paid monthly, minimum balance £10,000, Premier Customers only. Standard rate is 5.08% gross PA, paid monthly (AER 5.20%). †Online application process only available to existing HSBC Bank International customers. eSaver Offshore Alliance & Leicester International: Full terms and conditions available on our website. Account must be applied for and operated online. No need to print and post paper application form. E-mail address is compulsory. Minimum opening deposit £1,000. Account must be opened with money that is not already deposited with the bank. Maximum balance £1,000,000. Withdrawals available without notice or penalty. Minimum withdrawal £1,000. Withdrawals may be made free to a UK bank account by BACS payment (up to 5 working days). Charges apply for other types of withdrawal. No cash or cheques. Interest paid annually in arrears on 31 March. Interest rate is 6.51% gross p.a./AER Variable. Rate effective from 9 October 2007.Gross is before any deductions. AER - Annual Equivalent Rate illustrates the interest rate if interest was paid and compounded each year. Interest may be paid free from tax offshore depending on your country of residence for tax purposes. EU Savings Tax Directive rules apply to EU resident customers. Deposits made with an Isle of Man office of Alliance & Leicester International Limited are covered by the Isle of Man Depositors' Compensation Scheme contained in the Banking Business (Compensation of Depositors) Regulations 1991. Alliance & Leicester is the registered trade mark of Alliance & Leicester plc. Alliance & Leicester International Limited, PO Box 226, 19/21 Prospect Hill, Douglas, Isle of Man, IM99 1RY, British Isles. Incorporated in the Isle of Man (No. 81918C). Licensed by the Isle of Man Financial Supervision Commission for banking business. Apply online today! Click www.alil.co.im/expat EXPAT INVESTOR ESAVER FEB 2008 Offshore Savings Online Compare our eSaver Offshore Alliance & Leicester International eSaver Offshore Bradford & Bingley International eSaver Northern Rock Guernsey Offshore Tracker Online HSBC Bank International Online Saver Source: Providers' websites 1 February 2008 Online Application Process* Online Rate Interest Rate (AER) Variable Unlimited Penalty Free Withdrawals 6.25 5.25 5.50 † % % % %**** *** ** 6.51 NEW research by esure Travel Insurance, shows that nearly a fifth (17%) of UK adults would like to try out more extreme sports -- such as ice-lake diving, off-piste snowboarding and tobogganing -- even if they knew that they wouldn't be covered by their travel insurance and would have to foot the bill if they were injured. Although there is a one in seven chance of ending up seeking medical care during a skiing holiday according to the research, a quarter (25%) of Brits will take to the pistes with no insurance at all this winter. Of those, 5% of Brits polled wrongly believed that they Fast Facts 22001 could rely solely on their European Health Insurance card for full medical cover whilst skiing in Europe. There is also confusion about what is and isn't covered by annual travel insurance policies, as one in four people (27%) have the misconception that winter sports cover is always included as standard -- even though this is rarely the case. It is, therefore, likely that even fewer people will have ample medical cover whilst on piste -- as many will be unaware of the exclusion for winter sports activities. esure Travel Insurance provides these tips for those of you heading for the snowy slopes this season. 1) Don't forget to buy travel insurance: make sure the policy includes winter sports cover -- never assume it comes as standard -- and don't rely on the limited cover provided by a free European Health Insurance card. 2) Check what's covered: before booking any activity at a ski resort -- such as glacier-walking, ski mobiling or cross-country skiing -- check your insurance to make sure the activity isn't excluded. 3) Read the small print: make sure you're clued up before you're on the slopes. There are often restrictions for pursuits such as off- piste skiing, and some insurers may only offer cover within a certain number of metres from a run or authorised skiing areas. 4) Take your insurance documents with you: having telephone numbers and policy particulars at hand is crucial before booking higher-risk activities at a resort or in the event of an injury. 5) Covered for no snow? Last year's winter season started late and many early birds were faced with Nationwide reunites customers with unclaimed assets NATIONWIDE Building Society has launched a campaign to reunite its customers with money held in unused accounts with the Society. The campaign has been launched ahead of the Government's Unclaimed Assets Scheme and will see approximately 24,000 members contacted via mail as part of the first stage of reunification. Nationwide is also in the process of appointing a search agent to trace members who hold a dormant account with the Society but with whom contact has been lost. Nationwide has approximately £42 million in dormant accounts -- just 0.042% of the £100 billion held with the Society in banking and savings accounts. Customers who would like to reactivate a dormant account can do so by visiting their local branch with their passbook or card or, if these are lost, proof of identity. People who believe they may have a dormant account with the Society will be able to visit www.nationwide.co.uk and submit an online claim form requesting account records to be searched. Stuart Bernau, Nationwide's Executive Director, says, "By contacting Nationwide members who have not transacted on their banking or savings account for over 15 years, we hope to increase the number of people reunited with lost or forgotten money. There is an online form available on the Nationwide website, which will make it easy for our members to rediscover any forgotten accounts." scheme but below retirement age have a six month grace period which takes them up to March 31, 2008 to make other arrangements -- in short, buying private medical cover. The French government confirms that those Brits falling into the category outlined above can remain within CMU if they have spent five uninterrupted years in France. However, one category of expat still remains undecided. This is the non-working expat, not resident in the country for five years, who is below retirement age and also suffers from a chronic condition. Such individuals will encounter problems shoring up private health cover because insurers do not cover pre-existing conditions. Expats of pensionable age will draw some comfort from the fact that they will remain within the system provided they have acquired the Europe-wide E121 form. Stay safe and insured on and off piste Staying healthy in France THE FRENCH government has issued a statement clarifying the rights of 'economically inactive' expatriates to access the country's healthcare system. It's now made clear that non- working expats who are below UK pension age can no longer join the national medical insurance scheme, CMU. This change took effect on September 30, 2007. Non-workers already in the grassy slopes, so checking compensation limits for a snow-less ski holiday may be worth while. Fast Facts 22121