The new e-saver offshore account is the first offshore savings account to offer an online application process without requiring an ‘ink’ signature. The product has been designed to enable customers to both buy and manage their account online and in return, receive a competitive rate of interest on their offshore savings.
Under this online process, excessive paperwork is eliminated through the use of Alliance & Leicester International’s (ALIL’s) internet banking service, which provides secure, online, two-way communication. This allows applicants to apply from wherever they live or work in the world and to complete the application process with minimal inconvenience.
Simon Hull, managing director of Alliance & Leicester International, commented: The new process brings a much needed real time element to offshore banking. Historically, the offshore market has lagged behind onshore, but with the launch of the e-saver offshore account, customers really will be able to apply for, and access their savings account any time, anywhere. We are confident that e-saver offshore provides today’s expatriate with a fast application process and ease of use, together with the best rate available.
Interest on the account is payable annually with no monthly interest option. The account also requires a minimum balance of GBP1,000, while the maximum allowance is GBP1 million. The new product is available to both new and existing ALIL customers and must be opened with funds not already deposited with the bank.
