Offshore Visa Account

Offshore Debit Cards

An offshore debit card is a regular atm or point of sale type card, generally with a pin number linked directly to an account. The “offshore” debit card, generally just denotes a card which gives an account holder access to an offshore bank account through bank machines and p.o.s. pin sales. The allure of the debit card is that it gives one access to their funds in any location throughout the world, regardless of where their physical account is being held.

The Difference between an Offshore Debit Card and Prepaid Credit Card

Prepaid Credit Cards and Debit Cards are similar however Debit Cards give you direct access to an offshore bank account. Money is withdrawn directly from the account. Prepaid cards need to have funds first loaded “onto” the card from the account. The result is that prepaid cards usually have funding and spending limits, however, offer greater protection in the case of theft fraud or misuse in that there is a natural limit to the amount of the loss.

Financial Privacy

Many are drawn to the idea of using an offshore debit card because of the financial privacy they can’t otherwise attain in their home country. However, offshore credit and debit card users would be well advised that the visa and mastercard networks have been quick to rollover for John Doe summonses (fishing expeditions) by the tax authorities of high tax countries. In the U.S. in particular, it is not illegal to use an offshore credit card or offshore debit card, however, you have to declare your use if it is tied to an offshore account. In addition, the IRS is quick to maintain that “ordinary people” have no use for an offshore debit card, and it is quite possible flagarant use of such a card may bring you additional/unwanted scrutiny.

Precautions for using An Offshore Debit Card

Financial privacy is better when an offshore company s paired with an offshore account and card.

Another way to shield your privacy is through an un-embossed card — or n0-name card.

In most cases, a corporate card can be legally used to pay for corporate expenses or payroll for an offshore company. Where your anonymity is at risk is when you use a card at any ATM with a camera.