Fsharp Bank Launches Online Currency Manager

Caroline Maxwell, Investorsoffshore.com

19 January 2001

In a move which will be of special interest to globe trotting expats, international investors and indeed anyone with the slightest interest in managing their finances offshore, the Isle of Man-based Fsharp bank has launched a new commission-free multi-currency account facility.

The online multi-currency capability allows customers to open instant access accounts in Sterling, USD, and Euros, plus additional accounts in any of the 21 other currencies already available. This new feature will doubtless save users time, and will allow for greater financial control, by allowing currency conversion online, with real time exchange rates and no commission charges.

Currency Manager will minimise the conversion costs of ‘frequent flyers’, and the new facility should also prove to be of benefit to international investors, allowing them to take advantage of movements in exchange rates. It will also be useful for those investors dealing in shares where settlement has to be conducted in a foreign currency, or for those dealing in property or other overseas investments.

Fsharp was set up in the Isle of Man in 1999 by the well-established Bank of Ireland Group. It was principally intended to attract British and Irish expatriates, but has grown to encompass customers in 150 countries. In the present climate of uncertainty about the future of online banking, it is refreshing to see a bank that has taken heed of the advice offered by the experts, focusing very specifically on the lifestyle and needs of its target audience.

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