General Banking Archives | Starting Business

When setting up an offshore bank account, you will have the freedom and flexibility to choose which currency you would like the account to operate in. The currencies available to you will depend upon the jurisdiction that you have chosen to bank in, however many offshore bank accounts enable clients to bank in a range of currencies…

When opening a bank account in an offshore jurisdiction, you may be subject to a number of tax benefits that are usually not available in your country of domicile. This is particularly apparent when opening an offshore corporate bank account, as offshore businesses are able to benefit from the offshore tax rates implemented by that country. Before opening an account it…

A credit rating is based upon the financial activity of an individual or corporation with regards to their borrowing and repayment history. Credit rating assessment is of fundamental importance when it comes to acquiring a loan or mortgage…

Western Union is a financial service that allows money to be sent from one location to another in a quick and easy manner. Western Union’s mission is to facilitate the progress of money transfer throughout the world…

Bank privacy refers to the safeguarding of clients’ sensitive information from outside authorities. When conducting financial activity, many individuals and organizations request bank privacy in order to carry out their activities in the highest levels of confidence…

Interest rates are the rates at which interest is charged for the use of money borrowed from a bank or other financial institution. The money is lent by the bank at a particular rate, and will vary from one financial institution, and account, to another. They also refer to the rates applied to funds invested in an account…

Identity theft occurs when someone uses your personal and financial information without your permission, to commit fraud. Other terms used to describe this particular crime are “identity fraud” or “impersonation”. Identity theft is regarded as one of the most serious concerns among bank account holders around the world…

A bank draft is a check which is only acquired by banking institutions. It is a useful payment method, as it necessitates that the funds are fully available in order to issue the draft, and therefore it provides assurance that the payment can be made. A bank draft can be also referred to as a bank cheque or a cashier’s cheque, depending on the jurisdiction in which you are located…

Expatriate banking services relate to the formation of a bank account in an offshore jurisdiction that you are working in, living in, travelling or planning to retire to. An expatriate bank account is the ideal solution, and can be set up in…

To open a bank account, whether in an onshore or an offshore setting, you will need to present certain forms of documentation to the bank that you are applying to. Once you have decided which bank you would like to open your account…