Choosing Offshore Bank

Range of Services

When opening the bank account there definitely should be services you are planning to use when this offshore bank account is opened. Notwithstanding most offshore banks could look similar, different services can be considered usual or standard. For example, not long ago, when in many offshore and onshore banks Internet banking was already standard or even the only available remote banking tool, most Swiss offshore banks worked with coded fax or phone instructions as the only remote bank account management tool. Also, in many banks wire transfer is considered to be standard service, not restricted in any way (the client just should be ready to explain the character of transactions connected with these transfers), while in other offshore banks business transactions are not welcomed, and wire transfers are restricted either by their amount allowed in a month, or by extremely high fees. This is more characteristic for the banks which want to see among their clients not offshore businessmen but offshore investors.

If customer is planning to use offshore bank for making offshore investments it is very important that particular offshore bank would have wide choice of investment intrucments as well as access to many onshore and offshore financial markets.