Offshore Visa Account

Well, the folks at the offshore banking house I work with have finally got something that I think pretty well addresses the needs for anonymity and secrecy among some of our clientele.

It’s an anonymous visa card.

It’s an electron card, unembossed…

So it will work like other atm cards and in addition, it can also be used at merchants who have a point of sale (POS_ terminal where visa is accepted and there is a “PIN CODE” entry kiosk.

This precludes someone from taking one of those old school carbon copies of your card, but I haven’t seen one of those in North America for years.

The card’s monthly limits will be a bit low for wealthier clients who are less concerned with secrecy — for that they can always secure one of the company’s platinum mastercards.  However, I think it may come in handy for people who have a global workforce and need a fast/easy way to distribute money to their workers….entrepreneurs….maybe online gamblers.

 I think one of the more interesting things will be to see the creative ways that our customers use the visa cards to overcome their banking challenges.

An offshore visa account is an extremely convenient way to keep your money both safe and accessible.

But, if you’re convinced that an offshore credit card is for you, there are some things you need to understand to make sure that you get the product that you expect and the level of service that you are looking for.

The first thing to understand?

Offshore Visa Cards typically work differently than regular Credit Cards

How so?  Didn’t I just get done expousing the convenient benefits of owning an offshore credit card?  How they are part of the Visa network and gave you access to your funds at millions of merchants and cash machines worldwide?

Yes, that is all true.  However, they differ in that they typically aren’t actually credit cards.  Offshore bankers long had a big problem in issuing an offshore visa card.  Primarily, how could they go about cost-effectively verifying the credit worthiness of customer in over 100 different countries?

Offshore banking institutions got around this problem by issuing pre-paid offshore visa cards.   Pre-paid offshore credit cards, get around the challenge of verifying the credit worthiness of clients in dozens of jurisdictions, while giving the client what they want; easy affordable access to their funds held offshore.

A pre-paid credit card, to any merchant who accepts Visa, will function exactly like a regular domestic Visa card.  The user, however, will “pre-load” the offshore credt card with funds he or she wishes to spend from their offshore bank account.  The card works similarly to an offshore debit card, however, the user gets the added protection of not having all of their offshore banking funds tied to a singular card in case it is lost or stolen.  In this case, a larger amount of money can be held in the client’s offshore banking account and the client can charge the card conveniently, online, for the smaller amount of funds he or she needs immediate access to.

That, in a nutshell, is how an offshore visa account works, and why so many people find the idea of an offshore visa account so attractive