The Benefits of International Banking

by - 11:54:00 PM

International Banking is one way of helping people to manage their finances as to currencies and in multiple countries. It is a financial entity that caters financial services to foreign clients like payment accounts and lending opportunities. This is important for those living, working, and retiring in another country.


Just like Lloyds Offshore Banking which offers solutions that are made for people who are in need to deal the complexities of an international life. Basically, Lloyds Bank International banking is for expats who are working or retires abroad, people who move to the UK for short or temporary length of time either for work or investment in the UK, and for those investors who need to manage their assets in several countries and in multiple currencies.

One of the products and services in having an international banking account in Lloyds bank is the benefits of international money transfers or sending money abroad. These benefits include sending and receiving money for free internationally, transferring money between currency accounts, and all major currencies available

The benefits of Lloyds Bank international banking are:

1. It helps people reduce the foreign exchange transactions costs and also manage fluctuations of the currency.

2. People can access their money 24/7 via telephone and internet banking. They will enjoy the convenience of monitoring their accounts in multiple currencies through a single bank.

3. They have English-speaking advisers always on hand to assist people regarding international banking issues.

These services are available in certain countries such as UK, France, Spain, UAE, and the like.

One should know about international money transfers is that to benefit from such service, one need to have a current or savings account. The recipient and corresponding banks abroad has the right to charge a fee for receiving payments. Also, depending on account withdrawal restrictions, charges may be applicable.

There are three ways of banking with Lloyds Banks including:

1. Multi currency banking wherein they can help people with the range of accounts and services in international banking day-to-day needs like the everyday transaction up to the large foreign exchange transfers.

2. Premier banking is for those who maintain a £50,000 wherein they can access to range of additional services and to a Premier Relationship Manager so to make international life easier.

3. International Private banking is for those who maintain £250,000 or more wherein they can gain access to a range of wealth management solutions and this is ideal for families.

Image credit to www.globalbankingnetwork.com

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