The Times Australia
News From Asia

.

Skipton International freshens up interest rates for offshore savings accounts

Both Easy Access and Variable products see rate increases for minimum GBP25,000 deposit

GUERNSEY, UK - Media OutReach - 19 October 2022 - Skipton International, the award-winning Guernsey-licensed bank with customers in over 100 countries worldwide, has announced an interest rate increase for its Personal Access and Variable product offshore savings accounts.

A minimum opening balance of GBP25,000 is required for new customers.

Skipton International (Skipton) Personal Access accounts allow funds to be withdrawn without notice, whereas Variable means interest rates may change. The current Fixed Notice accounts remain, with the highest paying a competitive rate of 4.00% annual equivalent rate (maturing in 31 October 2024).


Available immediately, the new rates are:

SKIPTON INTERNATIONAL ACCOUNTS

INTEREST RATE %

WITHDRAWAL NOTICE

Fixed Rate Bond, Maturing 31 October 2024

4.00%

Not Applicable

Fixed Rate Bond, Maturing 15 March 2024

3.50%

Not Applicable

Fixed Rate Bond, Maturing 15 September 2023 – Issue 2

3.25%

Not Applicable

Personal Saver Account 200

2.60%

200 days’ notice

Personal Saver Account 120

2.30%

120 days’ notice

Personal Saver Account 40

2.00%

40 days’ notice

Personal Access Account

1.75%

None

Full details can be found here.

Commenting on the increased rates, Aaron Walden, Senior Commercial Manager at Skipton International, said:

“These increased savings interest rates give new and existing Skipton customers a competitive return on their savings during market and currency rate volatility. A sterling offshore account enables customers to diversify their investment portfolios, leverage opportunities in the UK market, and access opportunities not available through their domestic bank accounts.”

Offshore banking has become increasingly popular over the years because it offers protection from currency exchange volatility, economic uncertainty, and taxation.

“There are many practical reasons for opening an offshore bank account. For example, UK universities attract international students and tuition, accommodation and any living expenses incurred have to be made in pounds sterling. An offshore bank account means that payments can be made in sterling rather than having to convert funds and risk exchange rate fluctuations and fees,” added Walden.

For over 20 years, Skipton International has served both British expatriates and non-UK citizens worldwide. Apart from offering offshore savings accounts, Skipton is a market leader in buy-to-let mortgages, giving investors the opportunity to own and rent out a UK property, gaining an additional revenue stream. In this case, an offshore bank account can fund the repayments, legal, management and other fees.

According to Skipton’s 2021 Buy-To-Let mortgage charts, London’s Canary Wharf, Poplar and Limehouse region were the most popular for rental, followed by SW11 (Wandsworth) and W3 (Acton). Please see here for popular postcodes in London for rental properties.

Skipton International is licensed under the Banking Supervision (Bailiwick of Guernsey) Law, 1994, as amended, and a participant in the Guernsey Banking Deposit Compensation Scheme offering protection for ‘qualifying deposits’ up to GBP50,000, subject to certain limitations.

More Information and Account Opening

For more information about opening a Skipton International offshore bank account or buy-to-let mortgages, please visit www.skiptoninternational.com

Hashtag: #SkiptonInternational

The issuer is solely responsible for the content of this announcement.

About Skipton International

Headquartered in Guernsey, Skipton International is a bank wholly owned by Skipton Building Society, the fourth largest building society in the UK. We are a leading offshore bank and winner of multiple awards, including the Moneyfacts best mortgage provider and named as Guernsey Business Of The Year at the Guernsey Awards for Achievement.

Our aim is to help customers achieve their property owning and savings goals, by offering quality products and excellent customer service.

Times Magazine

Building an AI-First Culture in Your Company

AI isn't just something to think about anymore - it's becoming part of how we live and work, whether we like it or not. At the office, it definitely helps us move faster. But here's the thing: just using tools like ChatGPT or plugging AI into your wo...

Data Management Isn't Just About Tech—Here’s Why It’s a Human Problem Too

Photo by Kevin Kuby Manuel O. Diaz Jr.We live in a world drowning in data. Every click, swipe, medical scan, and financial transaction generates information, so much that managing it all has become one of the biggest challenges of our digital age. Bu...

Headless CMS in Digital Twins and 3D Product Experiences

Image by freepik As the metaverse becomes more advanced and accessible, it's clear that multiple sectors will use digital twins and 3D product experiences to visualize, connect, and streamline efforts better. A digital twin is a virtual replica of ...

The Decline of Hyper-Casual: How Mid-Core Mobile Games Took Over in 2025

In recent years, the mobile gaming landscape has undergone a significant transformation, with mid-core mobile games emerging as the dominant force in app stores by 2025. This shift is underpinned by changing user habits and evolving monetization tr...

Understanding ITIL 4 and PRINCE2 Project Management Synergy

Key Highlights ITIL 4 focuses on IT service management, emphasising continual improvement and value creation through modern digital transformation approaches. PRINCE2 project management supports systematic planning and execution of projects wit...

What AI Adoption Means for the Future of Workplace Risk Management

Image by freepik As industrial operations become more complex and fast-paced, the risks faced by workers and employers alike continue to grow. Traditional safety models—reliant on manual oversight, reactive investigations, and standardised checklist...

The Times Features

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages a...

Why Everyone's Talking About Sea Moss - And Should You Try It Too?

Sea moss - a humble marine plant that’s been used for centuries - is making a major comeback in modern wellness circles. And it’s not just a trend. With growing interest from athle...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial in...

What Is the Dreamtime? Understanding Aboriginal Creation Stories Through Art

Aboriginal culture is built on the deep and important meaning of Dreamtime, which links beliefs and history with the elements that make life. It’s not just myths; the Dreamtime i...

How Short-Term Lenders Offer Long-Lasting Benefits in Australia

In the world of personal and business finance, short-term lenders are often viewed as temporary fixes—quick solutions for urgent cash needs. However, in Australia, short-term len...

Why School Breaks Are the Perfect Time to Build Real Game Skills

School holidays provide uninterrupted time to focus on individual skill development Players often return sharper and more confident after structured break-time training Holid...