Different types of offshore bank accounts
Different types of offshore bank accounts. There are numerous benefits of opening an offshore bank account. However, there are also various types of bank account that can be opened in an offshore jurisdiction depending on the circumstances and personal preferences.
Types of offshore bank accounts:
Current bank account is one of the most popular types as it gives its holder the flexibility to withdraw money at any time and with no obligations on monthly contributions.
Deposit bank account is another type of bank account that is used for money saving. Combining these two types of offshore bank accounts is also possible and is called a double account.
Multi-currency bank account is also a very common type of offshore bank accounts. It can be used to keep a single account but with multiple strands of different currencies. This type of bank account is usually preferred by someone who requires constant travelling or has to manage their money across different countries as it allows an easy transfer of money from one currency to another.
It is also important to mention secret account type of bank account, a number account. It is a very confidential type of account as only identification number issued without requiring any personal details of the account holder. Due to stringent legislation on information disclosure an offshore bank account holder can be ensured that his information will be kept in strict privacy.
An even higher level of security is provided by an Austrian account. In addition this type of bank account requires a password that must be used each time a money operation is made. Another advantage is that no data of an account holder is recorded.