Savings accounts are perhaps the most common type of bank account on the planet, and now an increasing number of account holders are turning offshore for their savings accounts. This shift means that you can potentially pay less in taxes, meaning more profits for you. Offshore or international savings accounts also offer diversification and a reduction in your financial vulnerability as well as lower overall banking and maintenance fees depending on the location of your bank account. Finally, anyone who is planning to move overseas or retire internationally can benefit by having access to an account for rent, bills or cash in the local currency.
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