Thursday, June 18, 2009

Offshore Accounts

Budgeting and Banking is one thing that i am not really good at. I try my best to handle this well, but i guess I have to learn a lot before i can finally say that Im good with it. My husband knows a little too, so sometimes he assists me when i do some household budgeting. Lately, my sister who works at a bank asked me if i have Offshore Bank Accounts , of course, I said, what is that? Call me whatever, but I really dont know what it is so i had my sister explain it to me over the phone. Basically, it is overseas banking done with internet banking as what the name implies. It provides the client with offshore asset protection, Diversify your personal or corporate banking,and it protect funds which would otherwise be “open game” in your home jurisdiction.. These are just a few of what you can achieve from this type of banking account. This is really good with businesses and corporations, but still, there are also individuals who has this account for protection of what they currently have. As for me, i am sticking with the basic ones in our local bank, besides i dont have much assets. But i am open in learning more about these offshore bank accounts in the future.

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