depositing

[donald bathe]

how financially stable are offshore banks compared to regular commercial banks? if someone has deposited millions of dollars and theres some kind of financial crisis or meltdown, what would or will happen to their money in that eventuality? how financially secure are offshore banks like in cyprus or somewhere nearby? can someone please explain this to me. rsvp. thank you.

 

[mnschwarz]

Offshore banks operate just like onshore banks. The security of your funds will be dependant on the jurisdiction, the banks policies, liquidity levels etc. Golden rule I live by is to diversify. Don't put everything you own in one bank, asset class or jurisdiction.

 

[donald bathe]

im talking about at least 100 million dollars or more in net worth! rsvp

mnschwarz said:
Offshore banks operate just like onshore banks. The security of your funds will be dependant on the jurisdiction, the banks policies, liquidity levels etc. Golden rule I live by is to diversify. Don't put everything you own in one bank, asset class or jurisdiction.
Click to expand...

 

[mnschwarz]

donald bathe said:
im talking about at least 100 million dollars or more in net worth! rsvp
Click to expand...

What difference does that make?