Is your money safe in an offshore account?

[totalchaos]

Hi all,


This is my first post on here. It's a great forum (resource), and I've learnt quite a bit just reading through some of the posts.


I was wondering, whether many offshore banks have some type of deposit insurance such as the FDIC in the US. Are there any that stand out for you?

 

[JohnLocke]

If you go with some of the large banks in the world namely HSBC,⁠ Barclays, or big national banks, and such you will never face any troubles, if you⁤ go with small banks they most often won't have any insurance.

 

[nastathin]

What about Cyprus bank's are they more save than Greece banks if it collapse? Please‌ name some banks available in Cyprus.

 

[clemens]

Greece is not Cyprus, all banks in Cyprus are regulated by the Cyprus central bank,‌ so if the banks in Greece collapse (which I don't believe they will) then your‍ money is still fave in Cyprus even though that the collapsed bank has a branch⁠ in Cyprus and you have your money in that branche 🙂

 

[bizman]

And if Greece is going bankrupt what wil then happen with the branches of Greece‌ banks in Cyprus?

 

[wonderwilly]

Interesting question??