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Expat Investor : April 2008
J ANE M ATTHEWS Marketing Manager, Abbey International Living and working in the Middle East, some of the most difficult things to stay abreast of are money matters and everyday savings. But with your salary paid into one of Abbey International’s savings accounts, which can be operated via the internet, day-to-day essentials such as ensuring you add regularly to savings accounts and pay bills can be simplified to just a few clicks of a mouse. Comprehensive internet banking systems allow you to organise transactions, check statements and set up standing orders to savings accounts and direct debits, all at a time convenient to you. This can be a real bonus for expatriates who don’t want the cost or difficulty of trying to deal with a UK-based branch across different time zones. For many in the Middle East, a US dollar account is essential, as salaries are often received in US dollars or in a local currency which is fixed to the dollar. One of the leaders in the multi currency internet banking market is Abbey International, whose web banking systems offer features including simple navigation, real- time money transfers between accounts and a website that is clear and simple to use, giving 24/7 access to your accounts from around the world. The bank offers a range of accounts – including Gold, Call and fixed rate accounts – in three currencies - sterling, US dollar and euro. Abbey International also offers its‘Peace of Mind Guarantee’ – should you lose any money when using their online services, the Bank will pay you back any loss you incurred from fraud providing you have taken all necessary safeguards to keep your account secure. The Gold account offers high interest, a Gold Visa card, 24-hour cash worldwide and an interest-free period on card transactions of up to 30 days. Abbey International’s savings accounts for expats also have competitive rates of interest – for example the Base Rate Tracker Term account – Issue 7 is currently offering 5.35% gross p.a. on deposits of £10,000 or more, MIDDLE EAST April 2008 ? EXPAT INVESTOR 15 Fast Facts 44009 Authorised and regulated by the Financial Services Authority. © AXA PPP healthcare 2007 Lines are open from 8am to 8pm Monday to Friday and 9am to 1pm Saturday (UK time). Calls may be recorded. All claims will be assessed against the terms and conditions of the chosen product and any individual exclusions placed on your policy at joining. For great British healthcare – worldwide – join us now and we’ll give you up to two months' cover free Call +44(0)1892 550814 quoting reference EI5555 or visit www.axappphealthcare.co.uk/expat_investor When you’re living, working, travelling or retired away from home you deserve quality healthcare insurance from a well grounded company that really knows their way around the world of healthcare cover! AXA PPP healthcare has an International Health Plan to suit most needs. Join us and you can rely on quick, easy access to private medical treatment; a choice of hospitals; emergency evacuation or repatriation; plus an English-speaking health information line that’s on call for you around-the-clock. Wherever you have a family get together AXA PPP healthcare is right there with you Money tools for Middle East- based expatriates Expats have particular money management issues according to where they are based around the world. We asked the top offshore banks to tell us what products and services they are offering to expats living and working in the Arab Gulf states. whilst their Instant Access Savings Account is currently paying 6.05% gross on deposits of £1 million plus. Alternatively you can choose a fixed Continued on page 16 rate account with a minimum opening deposit of £25,000, US$50,000 or €50,000, and fix the
May June 2008