You are here: Home - Saving & Banking - News -

Expats managing finances online

0
Written by:
02/01/2008

Research by offshore savings bank Alliance & Leicester International has found that 92% of expats use online banking to keep their finances in check.

However, 7 in 10 are missing out on the benefits of an offshore savings account. Ever-increasing access to the online world means it is effortless for people living abroad to keep an eye on news, family and friends and, as A&L’s research shows, their finances. The survey reveals the main benefits of banking online for expats include being able to access their funds anytime, anywhere (41%) and access to better rates online (26%).

Although there is a high proportion of expats using the internet for banking, only a third are using it to access an offshore savings account. Therefore 70% of expats are missing out on the benefits of saving offshore, such as access to superior rates of return, the ability to hold or send funds in a range of currencies other than sterling and to plan their tax affairs in a way that is relevant to the country in which they live or work.

Simon Hull, managing director of Alliance & Leicester International, said: “With internet access now so readily available, offshore consumers should take advantage of internet banking and saving. As well as offering speedy transfers and an up-to-date snapshot of your finances, the offshore banking and savings market is quickly developing many of the online facilities already available from its onshore counterparts.”
 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
A&L to offer same-day unsecured loans

Alliance & Leicester has become the first UK bank to offer same day funds for unsecured loans to both new...

Close