Choosing an Overseas Bank: First Ask These Questions

Colleen Murphy, International Man

International Man readers are a savvy bunch, well-familiar with the benefits of a foreign bank account. To recap just a few: financial diversification, access to investment opportunities in other countries, a measure of privacy, and the potential to earn a higher interest rate than your low-yield "savings" account at home. The advantages are numerous, but so are the considerations. Will my money be safe? How will I access the funds? How do I start the process?

Answers to these questions depend entirely on your personal circumstances, and anyone beginning to diversify should seek advice from a qualified professional. Before seeking (and paying) for any advice, it helps to think seriously about your needs and goals. Considering the following points will save you time and money. Continue reading "Choosing an Overseas Bank: First Ask These Questions"