Archive for the 'Online Banking' Category

Mar 05 2018

Finding Effective Offshore Banking With Good Security?

You can find internet sites offering to help you get a private offshore account, but choose carefully; some have established ‘real-world’ businesses behind them, and some are no more than a few web pages and a couple of guys in a back room.


Private offshore accounts are usually for high-net-worth individuals; you should have at least $100,000 to deposit. Then you will be welcomed with open arms, after the necessary due-diligence has been carried out.


Due diligence means the responsibility to check that an entity is who they claim to be, and that they have no criminal associations.


You will have to provide a notarised copy of your passport, one or two bankers references, and a copy of a utility bill from your current address.


Simplicity of operation may be even more important than lower taxes. Different countries obviously have different banking and tax laws, and there may be great differences between them. Keep this in mind when looking at suitable private offshore account options.


Private offshore accounts: very handy these days, as reduced tax liability, general asset protection, operation simplicity, and other features make this an attractive choice for the businessman with disposable cash. They are designed to allow holders to put money away for a rainy day, invest in products not available in their home country, avoid taxation, and keep some of their money safe from eager lawyers and disgruntled ex-spouses.


Almost all offshore banks can provide wire transfers, issuing bank drafts, cheque clearance, bonds, certificates of deposit, and mutual funds.


Many favour private asset holding and investment accounts over those used for commercial businesses. If you need convenient access to funds, look for a bank that issues credit or debit cards that can be used abroad i.e. in your country of residence.


People who can benefit from offshore tax havens are either living and working overseas, travelling abroad regularly or have business dealings in more than one country. They offer a centralised location via which you can manage international transactions easily.


It gives instant access to account information, banking and transactions in multiple currencies at reduced rates. Offshore tax havens with a good banking infrastructure offer those living in an unstable country the chance to protect their financial assets.


The idea of asking about offshore tax havens makes one feel as if one doing something mysterious or even slightly illicit.


Offshore tax havens are not reserved for the rich and famous (or infamous) to salt away their money, but rather for any businessman throughout the world to conduct his banking business.


Unfortunately, many people are of the opinion that these are not necessarily safe because they are not their home country. This simply is not true. Some offshore tax havens have banks that are safer and larger than the ones in your home country.


Most people have an account in the name of an offshore company. Offshore company providers can also offer basic phone, fax, mail, email and forwarding services, including clients’ invoicing and correspondence management.


If you are looking for financial services to help you manage your wealth, assets, make investments for you, or manage your business banking, then contact C.L. King financial services provider

The firm founded in 1972 provides investment banking, equity research, sales and trading, offshore and investor services to corporations and institutions.

Read also: A Brief History of Banking – CL King

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Feb 21 2018

7 Online Banking Success Stories

You have seen their ads and you may have wondered if they are worth a second look. What am I talking about? Online banks! Also known as internet banks, these are financial institutions who provide the majority of their banking services over the internet. Typically, online banks offer consumers high savings rates, low loan rates, and a mix of other services. Let’s look at 7 winners in this fast growing field:


1) E Trade Bank: Part of E Trade Financial, the discount internet stockbroker. E Trade Bank offers checking accounts, money markets, and certificates of deposits as well as a VISA credit card.


2) Netbank: Along with offering checking and money market accounts, Netbank provides mortgage and home equity lines of credit to customers. With tie-ins to affiliated companies Netbank also offers Auto, Homeowners, Condo/Co-op & Renters Insurance and Life, Health, Long Term Care & Dental Insurance.


3) Virtual Bank: VirtualBank, a division of Lydian Private Bank, is a federally chartered bank regulated by the Office of Thrift Supervision. The bank offers checking, savings, and credit card services to customers.


4) Ever Bank: This leading internet provider of banking services offers the most extensive, and varied services of any online institution. Ever Bank offers business and personal checking accounts, mortgages, home equity loans/lines of credit, reverse mortgages, a VISA credit card, and world currency accounts. This latter category is for investing in Deposit accounts and CDs denominated in any major world currency.


5) Emigrant Direct: Part of Emigrant Savings Bank which traces its roots back to 1850 as a service provider to Irish immigrants. Emigrant has $10 billion in assets and more than $1 billion in net worth. It operates as a full service bank through 36 branches in the New York metropolitan area, and through Emigrant offers only consumer services online; their high paying savings account is a chief investment vehicle.


6) ING Direct: ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING offers mortgages, loans/lines of credit, savings accounts, certificates of deposit, and money market mutual funds through another division.


7) MetLife Bank: Yes, MetLife. A division of insurance powerhouse Metropolitan Life, MetLife Bank offers savings accounts, certificates of deposit, money market accounts, mortgages, and IRAs to consumers.


If you are banking exclusively with a “brick and mortar” institution you may be missing out on high paying investment options or competitive loan rates that easily undercut many traditional banking entities. These online banking success stories are only part of a growing number of savvy providers, some of whom are definitely worth a closer look by you, the consumer.


C.L. King & Associates is a full-service investment bank and self-clearing broker-dealer founded in 1972.

Since our founding CL King has evolved from an equity boutique to a full-service investment bank. Our focus on debt and equity capital markets remains the core of our robust platform supported by a well-respected research, sales, trading and clearing operation.

To learn more about how C.L. King & Associates ’s capabilities align with your long-term goals, please contact us at 212.364.1830

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