Offshore Visa Account

Offshore Visa Account is all about Offshore Credit Cards, and in particular offshore credit cards that have been issued by offshore banks and branded by one of the large credite card networks, such as Visa or MasterCard.

At my job in offshore banking, one of the most frequent requests we receive as a company is for an offshore bank account, coupled with an offshore credit card.

Why are offshore credit cards so important?

Well, people who are looking for an offshore credit card linked to an offshore banking account are really looking for two different things:

all the financial privacy, and perhaps tax incentives, of holding an offshore bank account, with

all the convenience of having a domestic banking relationship

So what convenience does an Offshore Visa Account get me?

An offshore visa account gets you all of the aforementioned financial privacy that offshore banking always provided, the biggest difference is the convenience.  In the past, if someone was holding a substantial portion of their assets in an offshore account, access to their money was expensive and at times, tedious.

The most convenient way for the offshore account holder to repatriate funds, would be through the use of an offshore bank wire.  However, at times an offshore bank wire could prove to be a relatively time consuming and costly endeavour for those wishing to extract smaller sums of money.

The offshore banking account holder was forced into a decision; the inconvenience and expense of repatriating money for every small purchase, or invoking larger offshore money transfers, effectively reducing the fees and increasing the amount of assets held in a domestic bank at any given time.

Offshore credit cards, and especially an offshore visa account that enjoys the benefits of a large network of accepting merchants worldwide and the ability to use the card as an offshore bank card or offshore atm, proved to be game changers.  Soon everyone with money in private offshore accounts wanted the easy accessibility an offshore visa card, and an offshore visa account provided.