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Top Offshore Bank Savings Rates For Expats

Many expats can benefit from using offshore bank savings accounts. They are useful for working in different currencies and for gathering interest without deduction of taxes.

The best offering for sterling offshore savers is Nationwide International’s 1.55%, if you have £25,000 and can give 95 days’ notice of withdrawals.

For dollars, Nationwide International pays 1% for $25,000 or more, with instant access.

Nationwide International is also best for euros, paying 0.65% for €25,000 or more, again with instant access.

The only way to beat these rates is to lock your money away for longer, as the sterling fixed rate accounts table shows. If you can leave at least £5,000 untouched for three years then 1.85% annual interest is on offer from Nationwide International.

If you want a monthly income from your offshore savings, the best offer currently comes from Skipton International. If you can give 100 days’ notice of withdrawals on a minimum deposit of £10,000, then an annual equivalent rate of 1.50% is paid monthly.

The rates shown (C) are gross, i.e. with no tax deducted at source, and are ranked by the amount of notice of withdrawal (A) one has to give the bank without it applying an interest penalty (or for the length of term, for fixed-rate accounts), and by the minimum amount (B) left on deposit to qualify for that level of interest.

Rates collated on 5 January 2015 and are subject to change. Rates on the no-notice and notice accounts are variable; those on fixed rate accounts apply throughout the term shown. (Source: Moneyfacts.)

Bank A B C
Sterling No Notice Accounts
Nationwide International None £25,000 1.25%
Skipton International None £10,000 1.00%
NatWest Offshore None £50,000 0.75%
Santander None £1 0.70%
Sterling Notice Accounts
Nationwide International 95 Day £25,000 1.55%
Skipton International 100 Day £10,000 1.50%
Standard Bank 196 Day £10,000 1.40%
Permanent Bank International 90 Day £25,000 1.35%
Sterling Fixed Rate Accounts
Nationwide International 3 Year £5,000 1.85%
Nationwide International 1 Year £5,000 1.40%
Nationwide International 6 Month £5,000 1.35%
Investec Bank (Channel Islands) 1 Year £100,000 1.30%
Sterling Monthly Income Accounts
Skipton International 100 Day £10,000 1.50%
Nationwide International 95 Day £25,000 1.46%
Skipton International 50 Day £10,000 1.25%
Nationwide International None £25,000 1.16%
Euro Accounts
Nationwide International None € 25,000 0.65%
Kleinwort Benson (Channel Islands) 189 Day € 100,000 0.35%
Permanent Bank International 35 Day € 25,000 0.25%
Nationwide International None € 50,000 0.20%
US Dollar Accounts
Nationwide International None $25,000 1.00%
Standard Bank 196 Day $10,000 0.80%
Standard Bank 96 Day $10,000 0.65%
Investec Bank (Channel Islands) 90 Day $50,000 0.45%

via www.expatnetwork.com

Help

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+36.20.403.7000

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sales@stogram.hu and get your taylor made solution rightaway.