Expats 'favour high street banks'

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Expats 'favour high street banks'

Most people who decide to retire abroad favour the names they know best when it comes to opening an offshore bank account, it has been claimed.

Rhiannon Williamson, director of ShelterOffshore.com, said that emigrated Brits will "always" look to high street banks as "their first and possibly only port of call".

She said by sticking with a familiar brand, people are given peace of mind during what can be an otherwise stressful time.

"Expats … generally require flexibility from an offshore account rather than the layers of privacy and transactional confidentiality that international business persons require," said Ms Williamson.

ShelterOffshore.com claims to offer a complete solution resource to those looking to live, buy or do business outside of the UK. The website was founded in 2004 by Ms Williamson.

This week, Off Plan International advised those considering retiring to another country to "never ever" buy a property without viewing an area.

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