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An offshore savings account is beneficial for everyone because of the features it offers. With an offshore savings account, one will have their interest paid gross of tax, a choice of currencies, twenty four hour banking, international money transfers and no opening account fee. There are numerous types of offshore savings accounts to choose from.
Types to choose from are the online bonus saver account, fixed deposit accounts, the serious saver account and the currency savings account. The online bonus saver account is nice because it offers an online only account with instant access to your money. To fix your higher interest rate, the fixed deposit account will be for you.
The serious saver account is for those who always want instant access to their money while the currency savings account favors travelers because it offers instant access saving in currencies other than sterling, US dollars and euro.
The cheapest choice out of these is the online bonus saver account which only requires a minimum balance of five thousand dollars while the other three choices all require a minimum balance of ten thousand dollars.