| Offshore banking generally means that a person can | | | | banks are similar to that of a credit card provided by |
| have his accounts in such a bank that is situated | | | | the local banks. Besides, a person possessing such a |
| outside his own country. So, it means using the facilities | | | | credit card can use it in any ATM all around the globe. |
| of a bank that is situated in a place outside the | | | | The offshore banks provide different services to its |
| jurisdiction of the account holder. These bank accounts | | | | account holders. Some of the services provided by |
| mainly protect the asset and the wealth of their | | | | this bank include money transmissions, currency |
| account holder. Besides, they also help their account | | | | exchange, loans, fund management and investment |
| holders to carry on their business in both a private and | | | | management. Managing of investment or funds mean |
| confidential way. So, a person opting for offshore | | | | that the banks manage the securities on behalf of their |
| banking will try to find a bank that can provide him with | | | | customers. However, some of these offshore banks |
| the same services that he gets from a bank situated | | | | also provide certain additional services to their |
| in his own city. | | | | customers. These banks charge some money from |
| All the offshore banks allow their account holders to | | | | their customers for their services. However, different |
| withdraw and deposit money in their accounts. | | | | offshore banks have different charges and a person |
| However, these banks provide their account holders | | | | can avail the services of these banks online as the |
| with credit cards to conduct their bank transactions. | | | | banks are situated in other countries. |
| The credit cards provided by the different offshore | | | | |