Why Choose an Offshore Bank Account

Gone are the days when offshore bank accounts were considered to be illegal shelters for money launderers and tax evaders, today most people understand that an offshore account has more to do with the international management of money. However, why would anyone choose to have or use an offshore bank account?

In this report we’re going to cover all the main uses for such an international and flexible account structure, highlighting the benefits and advantages of banking in such a way for many individuals – particularly those who live, work, travel or who are planning on retiring abroad.

As stated, an offshore bank account is not an illegal offering – it is a form of account structure now offered by all the leading national and international banks and finance houses. In its simplest form, an offshore account is the mirror of your plain current account that you use every day, however it is located in a nation other than the one in which you are resident!

Those who live overseas in a nation where the economic or political environment is less than stable and secure often made use of offshore accounts in the past as such an account enabled them to hold their money outside of a less than secure nation. No matter what went down in their country – inflation, devaluation of the local currency, a coup – their money was housed in a secure currency in a secure account in a secure country.

This benefit still stands for those who are working or residing in a less than stable nation for example. And this benefit can be added to for those who work in more than one country – or who regularly travel with their job too. Anyone who needs flexibility on an international scale can potentially benefit from an offshore bank account. For example, if you’re paid in one currency, have financial obligations ‘back home’ in your old nation in a different currency and the transactions you make on a day-to-day basis abroad are in yet another currency, a multi currency offshore account could save you on exchange costs and transfer fees for example.

Those who are living overseas and who prefer to keep their financial business to themselves may select the privacy offered by an offshore bank account – others who are under no obligation whatsoever to bring their money onshore may choose to house their money offshore where they can keep it private and hidden. Finally, another widely experienced advantage is that offshore accounts often come with a whole host of bells and whistles that make your life easier. You may be given a relationship manager at the bank who can help you look after your money in the most fiscally beneficial way. Alternatively you may be offered freebies such as international airport lounge access perhaps. Additionally, you will be able to link your offshore bank account to an offshore savings account on which you may be able to earn a preferential rate of interest.

So, as you can no doubt see, if you’re an international citizen, if you require flexibility, privacy and a better deal on your bank account, you may be better off with an offshore bank account. It’s time you looked into your options and alternatives today to determine whether an offshore bank account could be the right choice.

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How to Lower the Price of Student Auto Insurance

High school and college students under the age of 25, pay the highest rates for car insurance of any other group of people. That is especially true for male drivers. This is because statistics have proven that most accidents happen with people in this group. With that being said, you have to just accept the fact that your student auto insurance rates will likely be a little bit higher than you might like.

However, there are ways of lowering the price of your insurance. Most insurance companies will lower your insurance rates if you get good grades. They assume that if you are a responsible student, then you are also probably a responsible driver. You will typically qualify if you have a B average and above. If you make the honor roll, you will likely qualify for the discounted rates.

If you are in college and you live on campus, you can ask your insurance company for a lower rate for your student auto insurance, because you walk to classes. If you live at home and drive to campus, you may be able to save money if you stay on your parents auto insurance policy. If you can’t do that, try to find a way to carpool to school.

Whatever you do, never drink alcohol and drive. Even if you don’t have an accident, if you are stopped and ticketed, you can forget about driving anywhere for a while. Also do not drive without auto insurance. If you are stopped or have an accident, you will lose your driving rights also. In most places it is mandatory that you have insurance in order to drive. You can go online and compare the student auto insurance rates for your area. If you are in good standing with your driving record you should be able to lower the prices quoted.

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How to Determine the Auto Insurance Coverage You Need and Save Up to 40% Or More

If you merely buy the lowest amount of auto insurance coverage that is mandated in your State, in nearly all circumstances, you’ll be less than sufficiently insured. With the cost of cars rising and medical prices growing at an staggering pace, the minimum auto coverage mandated by your State will result in you being exposed financially if ever you should experience an automobile accident.

The average costs of a car accident these days frequently surpass the State established insurance limits. If it is determined that you are officially responsible for the property, medical treatment and other liability costs of an auto accident then you’ll be obligated to cover the costs that your insurance company will not pay. For many individuals these costs can certainly result in them ending up broke or burdened with expenses that will radically affect their lives and lifestyle for many years. In thinking about how much vehicle insurance coverage you want, be sure to guard yourself sufficiently from those costs you could not manage to pay for if you should ever be determined to be liable in an auto accident.

It is a good idea to have a licensed auto insurance representative go over your particular insurance requirements and exposures to determine how much auto insurance coverage essential to assure that you are financially protected. Usually you will need to pay for more substantial liability limits to protect yourself from monetary expenses if you are liable in an accident. Also, a further alternative you should think about, particularly if you possess substantial assets, is an umbrella policy to give you surplus liability protection. An umbrella policy pays for liability expenses that extend beyond your normal insurance coverage, allowing a much greater maximum limit. Further, you could qualify for a discounted rate when you buy your automobile and homeowner’s policies from a single company.

Buying collision and comprehensive auto insurance in addition to your liability coverage can be a smart choice, particularly when you have a newer model vehicle. For an older car, it possibly will not make financial sense to select the collision and comprehensive choices. You should make sure you know the replacement value of your car in figuring out whether collision and comprehensive coverage is the best choice for you or not.

Your sole liability, if you do not purchase the collision and comprehensive coverage option, is that you are then liable for the repair and replacement costs of your car if you are determined to be liable in an accident. If you are in a position to simply cover all of these expenses, or if these expenses are less than the extra insurance premiums over time, then there is no need for the added coverage for collision and comprehensive.

Your insurance company will establish the premiums for collision and comprehensive relative to the repair costs and market value of your vehicle. Keep in mind that if the cost of repairs to your car exceed its market value then your auto will be determined to be totaled and you will be compensated only for its market value from your insurance company, not its actual repair costs. As a result if the market value of your car is minimal, it does not make sense for you to carry collision and comprehensive coverage on your vehicle.

An added option to save on your auto insurance is to ascertain your deductible limits. Your deductible is the money you must pay before your vehicle insurance company pays out on your claim. Usually, car insurance deductibles are fixed at either $500 or $1,000. If you elect a higher deductible, you can reduce the price of your car insurance. If you can easily afford the deductible cost, it makes sense to do this.

To conclude, what you in reality need to do with your vehicle insurance is to buy sufficient coverage for those liabilities and expenses you cannot easily be able to pay yourself. You want to protect yourself from long term fiscal disaster if you are determined to be liable in a vehicle accident. Your car insurance coverage is to protect you if this might ever happen to you. Be sure you have purchased enough car insurance coverage to take care of this.

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How Does CFD Finance Work and What Do I Pay?

One of the subtle differences between trading stocks and trading Contracts for Difference is the CFD Finance part. The CFD finance is an integral part of your trading business and is one of the greatest money earners for the CFD brokers. Today we’ll take a look at how the finance on Contracts for Difference works and what exactly do you pay.

What is CFD Finance?

Contracts for Difference Finance is effectively the amount of money that you borrow when opening up a new ‘long’ CFD position. For example you might buy $10,000 worth of BHP share CFDs and for every day you hold a position overnight (usually taken as 5pm New York time) your CFD broker will debit you a small overnight finance charge.

How much does CFD finance cost and what do I pay?

The amount of Finance you pay does differ from one broker to the next but as a general rule your CFD broker will charge you 2-3% more than your countries official cash rate. So your countries cash rate might be around 3% and you would get charged 5-6% per year calculated back as a daily rate. So on a $10,000 position that is held for 1 night you would pay $10,000 * (3%+2% = 5%) divided by 365 (please note that some CFD brokers will work out the finance over 360 days so check your brokers product disclosure statement for exact details). This works out to be around $1.37 per day and relatively speaking it’s a negligible cost of accessing more opportunity that normally wouldn’t be available with a standard share trading account.

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