Bank Advantage

Commitment. We have a dedicated and growing team of professionals with deep expertise focused exclusively on escrow solutions.

Agility. Our standard escrow agreements and transparent “know your client” checks enable us to set up escrows quickly.

Reach. We combine a global network with local expertise to offer escrow accounts in multiple jurisdictions in over 50 currencies.

A one-stop shop. By integrating Deutsche Bank’s global capabilities, including foreign exchange, cash management, custody, payment and reporting, we provide clients with complete solutions.

A wide range of investment options. Clients have access to a full range of investment options, including customised investment solutions, interest and non-interest bearing accounts, multicurrency deposits, money market funds, offshore funds, and short- and long-term securities.

Is an offshore bank account right for me?

Offshore accounts can make it easier for you to save, manage money, make regular international transfer and invest if you have financial commitments in different countries or regions.In addition, if you live in a politically or economically volatile country, you may also want to consider holding some of your money in a more stable currency.

An offshore escrow joint  account might be right for you if you:

  • regularly travel to different countries for work
  • plan to move abroad for work, or to retire – or you already live overseas
  • own property or have other investments in another country
  • are sometimes paid in a foreign currency
  • provide financial support for family members who are overseas, such as paying a child’s school fees or a relative’s care costs
  • are an ambassador or someone with an international role who moves for work frequently

Moving abroad? Our country guides are designed to give you some of the essential info you need in your first 3 months and beyond.

What are the benefits of an offshore Escrow Joint account?

The most obvious benefit of an offshore bank account is that it decreases your need to move money between currencies. This in turn cuts down on bank charges and any worries you may have about currency fluctuations.

Offshore accounts can also offer a tax-efficient way to save and invest, but any tax benefits will depend on your circumstances.

While each offshore Escrow joint  account will come with different features, you can usually expect to:

  • hold money, and make and receive payments, in various currencies
  • access international expertise and investment advice
  • manage foreign exchange to your advantage
  • keep the same bank account every time you move
  • keep your money in a secure, central location, connected to your local accounts

Offshore Escrow or overseas bank accounts usually have all the features you would expect from a local bank account, such as a debit card and online or mobile banking, with the convenience of international banking.

What to consider when looking for an overseas bank account

An online search for “bank accounts for foreigners” currently yields more than 26,000 search results. How do you sift through this information to find the account that’s right for you? Here are some things to consider.

The reputation of the bank

No matter where you decide to keep your money, make sure you choose a reputable bank for your accounts.

Do you already have an account with an international bank? You may be able to open a second account offshore with them for seamless, global banking. For Netherlandsche Credit Union  customers, if you’ve already qualified for Netherlandsche Credit Union  Premier in another country, or you meet the eligibility requirements.

The safety of your money

The security and quality of the offshore jurisdiction is as important as the reputation of the bank.

With an offshore  escrow account, governments in many countries will guarantee your deposits up to a certain amount. Some offshore jurisdictions may also offer some form of compensation scheme, but it’s the stability of the financial environment that sets them apart.

Singapore, for example, is an offshore jurisdiction that offers a deposit guarantee if you hold your money in Singapore dollars. Likewise, Netherlandsche Credit Union  Expat participates in the Jersey Bank Depositors Compensation Scheme. This offers protection for eligible deposits of up to EU50,000, capped at EU 100 million in any 5-year period.1

It’s worth checking whether this applies to the country you’re looking to open an account in, and if so, what amount the government will guarantee.

The ease of remote account openings

Depending on the country you’re hoping to open an account in and the bank you choose, you may be able to open an account remotely. At Netherlandsche Credit Union , we offer remote account openings in 19 countries and regions around the world, including Netherlandsche Credit Union Expat offshore (Jersey) in the Channel Islands.

The minimum initial deposit

Each bank will set the minimum deposit required to open an account; some may have a minimum salary or regular income requirement as well. It’s best to find out what this is before you choose an account, to make sure it meets your needs.