What is offshore savings all about?

Offshore savings, Offshore banking, International banking and offshore account are terms that can seem confusing. But the reality is actually very simple - it's money held in an account not based in the UK.

People have different reasons for offshore banking or saving offshore. However the main benefits of offshore savings and offshore banking are:

• In some circumstances you pay local tax (not UK tax) on the interest that your savings earn. So your offshore savings can have the chance to grow even faster.
• When you bank offshore you can save in different currencies and convert money from one currency to another easily - a great benefit for offshore banking and offshore savings.
• You can also call on the experience of specialist offshore banking experts who understand what offshore saving is all about and can give you the help you need.

Halifax International Offshore Banking offers all the services above and a little bit extra. You can find out more about offshore savings and offshore banking from Halifax International here.