British American Business 2007 | Products & Services | Lloyds TSB International

Over the past 20 years, we have seen technology progress at a rapid pace. Computers have become commonplace at both work and home – we can now even carry them with us wherever we go. This advancement has played its part in the world becoming a smaller place in terms of where people see their future.

With the progression of technology, we have also seen a change in our aspirations. More people are going to university and climbing the career ladder, while looking to retire younger and live their dreams. We’re also being bombarded by the current spate of TV programmes showing us how we can buy that home in the sunshine and even generate income, investment and a pension provision.

Products and services must be designed to meet the challenges and opportunities of living and working anywhere in the world

All of these developments mean that people are more inclined to take that job in Dubai or to follow their dream and retire abroad. Leaving “home” doesn’t seem such a scary proposition as it once did. As we move on and start these new challenges, we find that we need the strength and support of a reputable financial organization.

The new “global community” means that the international banking environment needs to develop products and services to suit the international individual.

Products and services must be designed to meet the challenges and opportunities of living and working abroad, and offer everything required for day-to-day banking, in a range of currencies, with a whole range of services and benefits tailored to the differing needs of international citizens.

An international account must:

• Offer a choice of currency accounts, most importantly in sterling, US dollar and euro
• Offer competitive interest rates
• Make moving money easy through telegraphic transfers, international drafts, direct debits and standing orders
• Pay interest without the deduction of tax*
• Offer 24/7 phone banking and internet banking to deal with all day-to-day banking needs
• Offer dedicated relationship managers experienced in dealing with the needs of international customers
• Have offices based around the world on hand to help with any queries that are best dealt with face to face

A complete range of banking services

The internationally-mobile will also demand access to a wide range of financial products and services. Whether for funding major purchases or looking for the most appropriate way of saving, a wide range of choice is very important.

Savings and investments

The internationally-mobile look for a wide range of financial products and services

They will be looking for innovative growth solutions or want a separate savings account from their everyday bank account. Providers will be able to advise on a number of alternative methods.

Mortgages

With more and more people deciding to up sticks and move overseas, or deciding that a property overseas is an ideal investment opportunity, international mortgages are growing in importance. A flexible range of mortgages, which are designed to make buying a home in another country as easy as possible, is a necessity. They must be available in a range of currencies and countries.

Lending

Having easy access to money is just as important to the international citizen as it is to anyone. Being able to get credit and charge cards in a range of currencies and overdrafts makes the expenses of living and working overseas easier to manage.

Benefits and discounts

Alongside the core attributes of an international account it is important to consider what added-value benefits are offered as these can often be extremely useful for those with an international lifestyle. Regardless of whether it is a permanent move outside a country of residence or not, it is still important for international citizens to be aware of tax matters and their implications. International accounts often offer access to tax and Will advice and solutions tailored to their needs as part of the added-value benefits offered with the account. This ensures that life can remain as worry- and stress-free as possible.

Likewise, while it may seem simple for people to get access to health care and other facilities in some countries, in others it isn’t. Any travel or health insurance that is offered as an added-value benefit is often of great use as it has been considered as part of a complete package for the international citizen. It also removes the need for people to get tied up in a lot of unnecessary administration either before or during any trip. Imagine having credit cards stolen and the potentially-daunting reporting process. Having card protection as part of an international account would be a great relief for anyone.

Benefits such as airport lounge access, country profiles, discounted subscriptions and access to a local bank also greatly aid international citizens in their everyday lives. Someone tied up in a meeting while working in a foreign country could even call a relationship manager to arrange a last-minute trip out for the family. With all this and more at your fingertips, why not find out if the International Account from Lloyds TSB International is for you?

A team of international banking advisers is on hand to answer any questions you may have. For more information, contact: Tel: +44 (0)1624 638000

 

*For EU residents, a retention tax will be deducted from interest payments unless they have opted for “exchange information”. You should always ask for further information on the EU Savings Tax Directive. It is the responsibility of the customer to discharge any liability to tax arising from the receipt of gross interest.

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