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]

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?
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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.

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[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 🙂

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[bizman]

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

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[wonderwilly]

bizman said:
And if Greece is going bankrupt what wil then happen with the branches of Greece banks in Cyprus?
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Interesting question??