 offshore banking, high interest yeilds |
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| mnl8844 |
 Oct 19 2004, 04:54 AM
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#1
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Member Group: Members Posts: 38 Joined: 18-October 04 Member No.: 340  |
i recently stumbled upon this bank in the czeck republic. its website is rsal.cz. it claims to give me 5.95% on a 1 year cd of $10,000. this sounds like a good deal. however the bank is in another country and i am worried about the safety of my money. is it safe to buy a cd in a credit union of another country?
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Replies(1 - 4)
| markber |
Oct 19 2004, 05:46 AM
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#2
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1 billion bucks Group: Admin Posts: 14394 Joined: -- Member No.: 2 |
QUOTE(mnl8844 @ Oct 18 2004, 10:54 PM) i recently stumbled upon this bank in the czeck republic. its website is rsal.cz. it claims to give me 5.95% on a 1 year cd of $10,000. this sounds like a good deal. however the bank is in another country and i am worried about the safety of my money. is it safe to buy a cd in a credit union of another country?  I consider anything that it not protected by FDIC as not safe. One really have to do a good homework before dealing with an offshore bank. I could not find any feedback about rsal.cz on Google. If anybody has an experience with this bank, please share it with us. |
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| mnl8844 |
Jan 7 2005, 07:17 AM
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#3
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Member Group: Members Posts: 38 Joined: 18-October 04 Member No.: 340 |
where could i do research on this? the offer is not too good to be true. i know the ING direct in the UK is about 5-5.25%. and this one is a cd and its yielding 5.95% for one year. its nice that i dont have to worry about any currency conversions.
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| aelred |
Feb 18 2005, 06:22 PM
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#4
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New Member Group: Members Posts: 2 Joined: 8-January 05 Member No.: 483 |
Pickup any edition of Financial Times. Or, check out their website of that of The Economist. You'll find plenty of ads for banks like Allied Leicester that give great rates on timed deposits (CDs).
The downside is they usually only pay interest yearly, even though it compounds more frequently. It's a bit different dealing with offshore banks, but it's definitely an eye opener. |
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| josar |
Jun 4 2006, 01:58 PM
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#5
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New Member Group: Members Posts: 2 Joined: 4-June 06 Member No.: 1925 |
If you want to search better, you will find that secure and licensed financial institutions like Trusterbank (www.trusterbank.com) offer as registered intermediaries secure, reliable and exciting returns potentially, without any risk (depending on your required level of investment risk).
Honestly it does not make sense to go to unkown and strange institutions when you have a combination of reliability and confidentiality ready for you!And, at the same time, it does not make sense to get "locked" into institutions that due to their fame and perceived titles, offer you much lower returns than what they get for your money. Today, the world is much more flexible and what was considered a secure method to invest simply with banks, is irrelevant and even a mistake in the actual world of global and licensed exchanges, brokers, online trading and many related features. I suggest that you contact Trusterbank. |
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