Best "nice and simple" offshore savings rate ?

[O2BinTala]

I have been informed that the Allied Irish Bank is closing business on the Isle of Man and Jersey. (not being closed, I may add, but a controlled closure. If you see what I mean)

In this day of very low interest rates I had found them to offer one of the better rates for a nice plain account that could have money moved in and out as necessary with no penalties. Can anybody suggest another account that offers the same facility with a rate higher than the normal range of pitiful 1.5% to scandalous 0.1% ??

I should add that I am an ex-pat with no address in the UK so UK accounts are out.

Cheers

O2B

[Mike Strand]

If you are looking for fixed rate, 1, 2 or 3 year, try http://www.co-operativebank.co.uk/servl ... k-Offshore

[juliesewell]

Co-Op Bank in Cyprus are offering 3.5% and 4.0% for 3 and 6 month accounts respectively so assume they have something better for longer term accounts.

[MarkN]

Please remember this well used phrase:

"You cannot get better than bank base returns without taking some form of risk"

If you do you won't go far wrong! Ask yourself why, if banks like Barclays & HSBC are only paying up to 1.5% for GBP deposits, would other banks pay more? The simple answer is "risk premium". The more risky the bank, the higher interest rate they will pay you. I know this is very simplistic before all of you economists out there give us the ins & outs of fiscal policy & banking activity, but I believe it is a good guide.

By the way, the same holds true for all of these 'No Risk' structured investments being 'touted' offering 7,8,9,10+% returns. Don't believe the 'No Risk' bit.

My advice is to make sure you understand the risk; get it clearly explained. If you are being offered more than bank base, there IS some risk, ask about it & make sure you understand it. If you do and it is acceptable, go for it. If not, don't do it!

If you want to know specifics, please contact me directly.

All the best