Ocean going Internet Banking Advantages and drawbacks

The main topic of ocean going internet banking is a hot one and one that is increasingly growing in popularity not only within the consumer banking community, but also the business or corporate banking sector. The wonder of ocean going online banking is that in addition to enabling you to conduct banking activities allowed by traditional and local offline businesses, it allows you more variety and flexibility in terms of your banking needs. For example, if you travel often, ocean going online banking gives you the flexibility to conduct business on to go from anywhere, while ensuring that you have access to the type of currency if you need at a time you need it.

Having said that, not all banks offer online or internet banking services as this service costs the banks a significant sum of money. Programming ecf hong kong sophisticated and secure systems require the effort of several full time computer engineers, full security and complying sectors, as well as heavy cost to do business to support the service on an ongoing basis.

Because there are so many variables involved in offering this service, ocean going internet banking services vary from one financial institution to another. Some have better systems while others have work to do. A lot of this is predicated on the resources the bank has dedicated to this effort, both in terms of quantity and quality.

Opening an Ocean going Bank account

Before diving further into this topic, I want to clarify that engaging in ocean going internet banking is not about evading taxes. It is about mitigating risk of capital loss due to no fault of your. And once considering a foreign legal system in which to determine an ocean going bank account, consider one that is politically stable and financially strong. In addition, it helps to select a legal system that pays an attractive rate of interest and has low to no income tax. Probably the most preferred jurisdictions over the years have been Europe, Cayman Countries, Singapore, Hong Kong and the U . s . Arab-speaking Emirates (UAE).

Opening a personal bank account is usually a very personal activity. With ocean going internet banking however, there are ways you can get started remotely and never having to show up to the bank’s local office, saving a ton of time, money and mainly frustration.

One such way is at a nearby bank’s side in your domicile state, or home country. Many big banks that offer internet banking have a multi-national presence. Chances are good that your selected bank has a local side near where you live, despite being headquartered in another ocean going legal system.

In other cases, there are international banks that may don’t you have local twigs near where you live, but are willing and able to establish an ocean going bank account for you through email, snail mail, fax and telephone. There are generally a set of documents required by banks in order to execute this process. Therefore you can still open a foreign bank account with an ocean going bank and never having to leave your country, but it may come with a bit more effort, and sometimes the struggle involved in communicating with someone overseas.