Excite

How to use offshore bank accounts privately

Most well-known financial institutions, located in Switzerland, Panama and Singapore, do issue ATM cards for their offshore bank accounts which can be used at machines all over the world. The ATM card will look and serve the same purpose as a regular ATM card, bearing your name and account details on the front. However, if for some reason you do not wish your offshore bank accounts to be linked to your ATM card, you can request you are issued a "blank" bank card. This will not have your name on nor will it have any identifying features to tell a person which bank it belongs too. You simply transfer money from your account on to the blank card and use it that way.

Many people who own offshore bank accounts for privacy reasons refuse to have Mastercard or Visa debit cards attached to their accounts, even though the option is available. This is because of a recent landmark case which saw Mastercard forced to hand over its financial records to a court of a law. Even those cards held in countries with bank secrecy laws were caught up in the case. While the top-up cards subsequently brought out by both Visa and Mastercard now allow for absolute privacy, many people are wary of using them as their privacy is an important issue, hence the reason for using offshore bank accounts in the first place.

It is important to remember when telephoning your offshore bank, that you remember to use a prepaid mobile phone whose calls can not be traced to you. Phone calls from a registered mobile and landline are easy to trace so if your privacy is important you will want to remember this. It is also important to remember that people who own offshore bank accounts do so because they have legitimate reasons for secrecy. This could be anything from a well-known celebrity to a person wishing to keep their assets secure in a divorce. Tax evasion or attempting to keep your bank details secret for criminal reasons is against the law in every country operating offshore bank accounts.

United Kingdom - Excite Network Copyright ©1995 - 2020