Offshore banking - compare top saving accounts

All you need to know to choose the top offshore bank account that's right for you. Part 2 (of 5)

Accounts may commonly be opened in sterling, US dollars and Euros. In very rare situations these may even be run as multi-currency accounts, though this tends to be more for the current accounts rather than saving accounts. The interest rates on offer, seem to vary quite widely. For example, the best sterling savings accounts on offer from Bradford and Bingley International and the Alliance and Leicester pay 6.35 and 6.40% respectively on a minimum balance of £1k without imposing any significant time or fee restrictions on withdrawls, though these top paying accounts are 'linked' accounts and money can only be transferred out of them into another account in your name. This compares with the top savings accounts from HSBC and Barclays International paying 5.45% AER (5.75% AER for premier accts) and 6.05% AER respectively, with HSBC and Barclays requiring a minimum balance of £10K.

To read Part 3 of this article, please click here.