Posted 02 Feb 2010
Expats and people teaching English abroad are getting better deals on their savings than those using onshore facilities.
This is according to journalist Alison Steed, who wrote in the Telegraph that those with offshore savings accounts may be reaping more benefits than those who keep their existing deals.
She explained: "Tying your money up usually means you can get a better deal, but this is not the case with offshore accounts at present."
Ms Steed quoted Moneyfacts as reporting that Halifax International is currently paying the highest rate on its International Bonus Saver Account – 3.04 per cent on deposits of £2,500.
Additionally, Alliance and Leicester International’s eSaver Offshore Flexible Income Issue 1 also offers three per cent on deposits of £25,000, the writer added.
Similar recommendations were made last week by expat advice website Shelter Offshore, which highlighted that UK rates are so low right now that nest eggs are unlikely to have earned much money in recent months.
Category: Living Abroad
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