Halifax launches two expat savings accounts

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Halifax launches two expat savings accounts

Halifax International is now offering two new savings accounts specifically aimed at British expatriates - the Web Saver and the Regular Saver.

The bank notes that by moving their savings offshore, customers resident outside the UK can take advantage of their preferential tax status.

The key features of the variable rate Web Saver account are a minimum opening balance of £1,000, $1,000 or €1,000 and unlimited withdrawals or deposits.

Up to five accounts can be opened by one customers, in euros, sterling or dollars.

Customers signing up to a Regular Saver account can take advantage of a rate of seven per cent gross on savings.

They can save between £100 and £2,000 per month by standing order and the account is only available in sterling. No withdrawals are permitted within the first year.

James Gairdner, head of offshore banking, commented: "We aim to make offshore savings really simple whilst offering market leading rates to expatriates who live outside the UK."

Halifax recently launched a new credit card with a zero per cent introductory offer for ten months on both balance transfers and purchases.
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