What services do offshore banks provide

When the idea of offshore banking was first conceived, offshore banks provided generally the same services as “onshore” banks. However, the combination of increased popularity of offshore banks, more savvy banking customers and technological innovation has put offshore banks at the forefront of superior customer services.

Offshore banks provide the foundation from which all other offshore financial transactions and portfolio additions are made. Corporations take advantage of a variety of offshore banking services, including centralized reporting; trading companies enjoy the ease of working with different currencies; and individuals and businesses alike can set up foundations and trusts from offshore banks.

In addition, there are several services offshore banks provide for all customers - although the full list of services vary with each offshore jurisdiction, financial centre and type of account opened.

For the different types of accounts available at offshore banks, click here.

Credit and debit cards - Offshore banks can issue credit cards for use anywhere credit cards are accepted, online or offline, onshore or offshore - and debit cards that can be used the same as cash.

Internet access - Encrypted and completely secure, offshore banks offer 24/7 Internet access for all accounts, and many offer Internet-only access for added security and privacy.

Merchant services - For those businesses that accept credit card transactions through their web site, offshore banks can set up merchant accounts and provide merchant services, such as processing, reporting, fee payments and other services.

Corporate services - Corporations can benefit from offshore bank services, such as consolidated reporting, tiered access, currency exchanges, audit information that protects privacy, and many other services.

If you’re looking for personalized services from your offshore banking experience, or if you’d like to know which offshore banks or jurisdictions would provide the best combination of services that fit your financial goals, contact us today for more information.