Banking Services
It is possible to obtain the full spectrum of financial services from offshore banks, including:
- Corporate administration
- Credit
- Deposit taking
- Foreign exchange
- Fund management
- Investment management and investment custody
- Letters of credit and trade finance
- Trustee services
- Wire- and electronic funds transfers
Not every bank provides each service. Banks tend to polarise between retail services and private banking services. Retail services tend to be low cost and undifferentiated, whereas private banking services tend to bring a personalised suite of services to the client.
Read more about this topic: Offshore Bank
Famous quotes containing the words banking and/or services:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“The community and family networks which helped sustain earlier generations have become scarcer for growing numbers of young parents. Those who lack links to these traditional sources of support are hard-pressed to find other resources, given the emphasis in our society on providing treatment services, rather than preventive services and support for health maintenance and well-being.”
—Bernice Weissbourd (20th century)