HBOS has launched an offshore savings arm for British expatriates resident abroad.
Halifax International opens with internet and telephone banking available on two accounts – a web saver account and regular saver account. Both allow savings accounts denominated in sterling, euros or dollars.
The regular saver account opens with 7 per cent gross on savings, but does not allow withdrawals during the first year. The variable rate web saver launches with a minimum opening balance of £1,000, €1,000 or US$1,000.
Halifax International head of offshore banking James Gairdner says: “We aim to make offshore savings really simple whilst offering market leading rates to expatriates who live outside the UK. As the UK’s largest savings provider, expatriates living abroad can be reassured that they can continue saving at a great rate with a household name they know and trust.”