Finance

What's your credit score?

You might be the perfect bank customer in the UK, but faulty record keeping can make you look like a bad risk overseas. Words Hannah Beecham

One of the most exciting aspects of moving overseas is that everything
starts afresh. New beginnings are made in all areas of your life – new home, new job, new neighbourhood and new friends. It’s a time when every endeavour holds promise.

Setting your money to work

Don’t end up losing out more than you have to on currency exchange. Although interest and exchange rates may be low, there are way to maximise your savings, says Hannah Beecham

Is your money working hard enough? No? It’s a vital question, whatever your level of wealth, and one you should ask yourself at least annually. These are uncertain times, with interest rates at historic lows severely limiting the options available to savers, and the mighty pound in decline, so Brits living abroad are finding things particularly tough.

Warning!

The Media Company Publications Ltd suggests extreme caution when dealing with the following company, which has failed to honour its commitment and pay for advertisement(s) that it booked in Living Abroad or Spain magazine:

VILLA QUEST SL
140 Avda Dr Meca
CC Upper 5c
Puerto de Mazarron
Murcia 30860
SPAIN

VILLA BUREAU
Calle Salvador Salva
Piso 18
03730 Javea (Xabier)

SPAIN

DIMORE IMMOBILIARE
Via Trevisago 2
25080 Marerba del
Garda
Brescia
ITALY

ESTHETIK DENTAL BCN
Poligono Dr Jean Pierre Conte
Barcelona
SPAIN

AGENZIA IMMOBILIARE MB
Via Leonardo Da Vinci 11
53044 Chiusi Scalo (SL)
ITALY

R.E. PORTAL REAL ESTATE
Via Montereggi 4
50014 Fiesole
Fireneze
ITALY

Keeping tabs on account charges

While banking charges might seem excessive in the UK, they are nothing compared to those levied on overseas accounts. Make sure you know what to expect, says Hannah Beecham

Following the shock decision by the Supreme Court to back the banks’ practice of imposing high charges on customers who spend above their overdraft limit, we must all learn to pay close attention to our balances and keep abreast of any additional tariffs we may have to meet.

And, none more so than the expatriate banking customer, who finds it hard to function financially without an offshore bank account but who is aware that very few offshore banks provide anything like the ‘free’ service offered back home. The traditional pattern of retail banking offshore is not the same as that experienced in the UK, even though these offshore banks are UK high street subsidiaries.

Offshore options

Investing offshore might seem like a good plan, but you need to be aware of the risks, says Hannah Beecham.

With tens of thousands of offshore funds to choose between, many expats find this form of investment bewildering. My golden rule to investors is 'know thyself'. When selecting an offshore fund, put your unique needs first.

What's your credit score?

Setting your money to work

Warning!

Keeping tabs on account charges

Offshore options

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