OffShore Banking | Bank Instruments - Prominence Bank Corp.

  What Is Offshore Banking? Offshore banking is simply the use of financial services in a foreign jurisdiction other than the one in which one resides. So, we can say that anyone who has a bank account in a foreign country other than their own country is involved in offshore banking.  Why Use Services Offered By An Offshore Bank? The offshore bank usually offers several advantages to clients which are not available in your conventional domestic banking system. Also, diversifying the assets over many channels, currencies and countries will help in securing the money and also decrease the risk of losing money due to bank failure, currency devaluation or economic collapse. As mentioned earlier, you can open an account where you can store many in several currencies. This is called the multi-currency account. Also, you can send money or receive payments in many currencies. There are many foreign exchange tools which will allow you to fix currency values. Especially when you are i...

  Let us consider that you have important securities which you need to carefully place. It can be anything such as stocks, bonds and other valuable things. When you have valuable things at the home then the first thing you will have in your mind is “how you will protect them?” If you are someone who is this confused then all you need is to know that you are not alone. We all know that keeping valuable things at home is not safe. Hence, what is the best choice when it comes to protecting the assets? You can try the Custodial Bank Safe Keeping Receipt (SKR). If you already know about the custodial bank safe-keeping receipt, then you may or may not have used it. Know that it’s a type of financial instrument which is used to protect the gemstone, gold, assets, valuable documents and many other things which you have in your house. You can store all these in the bank and get the bank endorsement. So, where can you get the SKR? You can get it from where the place where you can get o...