Slow To Save Expats Want The Best Offshore Savings Deal

by Carla Johnson, Investors Offshore.com, London

17 October 2007

Over two thirds of expatriates (70%) do not prepare themselves financially when they first move abroad, as only 30% set up an offshore savings account, according to new research by the offshore savings bank Alliance & Leicester International Limited (ALIL).

As many as 70% of expats look for an account offering online capabilities when it comes to selecting an offshore savings provider, and the global reach of the internet means opening and managing a savings account is now more straightforward than ever before, ALIL announced.

Simon Hull, Managing Director of Alliance & Leicester International commented: "It is crucial for those making a permanent relocation abroad to ensure they set up adequate banking and saving facilities, soon after they move. With reliable internet access now available across the world, the offshore savings market is rapidly developing many of the online facilities already available from its onshore counterparts."

With statistics showing an astonishing 64% of expatriates considering competitive rates as important when choosing an offshore savings provider, savers need their account to be both accessible and market leading.

Mr. Hull concluded: "Competitive rates and new online capabilities mean there is no better time to open an offshore savings account, or switch to a better offshore savings provider. With a fast and secure service such as ALIL's eSaver Offshore, expatriates can open a functional savings account and make transactions within a week of arriving in their new home country."

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