Anonymous Offshore Debit Cards

Tips for Using Pre-Paid Credit Cards Wisely

2010-08-15T03:08:00.000-07:00

Prepaid credit cards are convenient for those people who do not have access to traditional credit card approval, because they are available to people who even have terrible credit histories and a really low credit score. Normally credit card companies want to reduce their risk – which mean the risk that those they lend money to will fail to repay the debt – by using credit scores and other means of predicting how responsible the cardholder will be. But that is no necessary with a prepaid credit card because the cash that backs up the debt – and covers any credit card charges or monthly payments due on the outstanding balance – is already on deposit.

There is no guesswork regarding whether or not the cardholder will have enough money saved to cover the credit card balance, in other words, because the cash needed to do that is already in a secure account. That makes it easy to get a credit card through the prepaid credit card approach, but what many consumers don’t realize is that it also offers them a golden opportunity to repair their credit, raise the all-important FICO credit score number, and take significant and intelligent steps toward getting their own traditional credit card account with a major card from Visa, Mastercard, American Express, or other recognized card names.

Getting the prepaid card is the first step, but then using it responsibly takes care of the rest. Just use it as you normally would to do things like shop or pay bills. But be sure that you have a prepaid card whose issuing company tracks your credit and then makes regular reports and updates to the big three credit reporting agencies. That way if you have good credit habits and pay your bills on time, you get noticed for that. The more credit you build, the faster you can repair your credit and raise your score, and soon you’ll be well on your way to approval for your own non-secured credit card.
Offshore Pro Group

What Are the Benefits of Co-Branding in Credit Cards?

2010-08-15T03:03:00.000-07:00

Co-branding is a marketing strategy in which two companies form a partnership to achieve greater brand recognition, reach larger markets, and increase consumer spending. The co-branding of credit cards is an effective way for businesses to achieve these goals.

Appearance

Co-branded credit cards bear the design of the partner company as the background of the card, while the card issuer's logo remains in the corner. Some examples of this are the Shell Gasoline MasterCard and the Jet Airways Visa.

Benefits to Businesses

Co-branding is successful when both members of the partnership bring value to the new product. Thorough market research is necessary to determine what products will catch on with consumers, but if co-branding is done properly, both partners will gain business. For example, MasterCard will gain loyal Shell customers and vice versa.

Business Risks

Co-branding is widely regarded as an easy, attractive strategy for a business to pursue to increase profits. The risk in this strategy is that a company could enact an ineffective partnership, which would result in wasted time and resources. For example, while supermarket co-branding with credit cards is a popular in Europe, the idea has thus far failed to catch on in the U.S.

Consumer Benefits

Co-branded credit cards offer consumers a range of advantages related to the products or services of the business partner. For example, the holder of a Jet Airways Visa Card earns mileage points by using the card, which results in free airline tickets or upgrades.

Consumer Drawbacks

There are no major drawbacks to the consumer in holding a co-branded credit card versus a standard card, however, some co-branded cards, such as the Shell Gasoline MasterCard are subject to annual fees.

Offshore Pro Group

Smart Banking: Avoiding Hidden Bank Charges & Other Fees

2010-07-25T15:04:00.000-07:00

All the information regarding the underhanded tactics that banks employ may have turned you off. You're probably thinking you should do away with banks altogether but before you make that decision, know that all you need is to get smart about your banking behavior, and you won't have to deal with hidden fees or any other sneaky tricks.

Debit Versus Credit

Most banks issue a debit card to customers who open an account and a lot of people use it extensively because it is convenient. However, there are many disadvantages to debit cards that it actually makes more sense to use a credit card.

Banks charge you a fee for in-store purchases and withdrawals from rival ATMs. Plus, if you use your debit card in certain establishments such as a gas station or hotel, your card can be blocked. A certain amount of money (from your account) is frozen, where you won't have access to that amount for about three days. This is a form of security measure for the merchant. Since they are not sure how much you will actually spend at the establishment, they make an estimate and put a hold on that amount to make sure the expenses will be adequately covered.

Keeping track of debit card purchases is a little trickier so the tendency to overspend is higher. If you inadvertently spend more than what your account contains, banks offer a clever little service called courtesy overdraft protection. Courtesy overdraft fees are exorbitant and the last thing you want is to have these fees pile up

Speaking of Overdrafts

If you opened a checking account, do away with overdraft programs altogether. Overdraft fees are typically pegged at $20 t0 $40 yearly and some banks will charge you a small fee each time you make use of an overdraft.

Courtesy overdrafts are even more of a no-no. Some banks charge as much as $40 per transaction. They also charge a daily fee for as long as your account has negative balance.

It helps to know as well that checks are usually cleared very quickly while banks can take a few days before they credit deposits to your account. What does this mean? You should be careful when issuing checks and make sure your account has more than enough to cover the amount. You might be thinking that you can deposit more money later but your check might have already been encashed before your deposit has been credited. This will result in an overdraft.

Credit Union Versus Banks

If you find banks might not be the establishment to keep your money in, consider joining a credit union. A credit union has some significant advantages over a bank. Credit unions typically charge lower fees and offer higher interest rates on your savings essentially because they non-profit organizations. Also, the fact that they are mostly tax-exempt might also be a factor.

Credit cards from credit unions also tend to have friendlier features. If you are late in payment once, for instance, you won't be charged additional interest. Also, most credit unions don't require you to pay annual credit card fees.
Incorporate in Cyprus

US Bank Account as a Non-Resident - A Must to Make Money Online?

2010-07-25T15:02:00.000-07:00

We all have Bank accounts in our respective home countries or residences. No problem with that - it is easy to get. We need this to run our lives, do our day to day activities off-line and so on. It is no big deal or a problem. So it is until I got online to make money two years ago.

When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.

When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.

What is the alternative if this is your situation?

Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US - another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 - $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?

Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 - 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 - $900 for the year.

Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.

Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country's banking sector.

The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).

I found a way to do it and this is now documented in a Special Report. If you need a US Bank account - I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.

You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.
Incorporate in Panama

Offshore Investment Theories

2010-07-20T14:10:00.000-07:00

The long-heralded recovery in the Japanese financial markets appears as far away as ever. Michael Wilson looks at why government reforms have been slow to spark a revival

Will the Tokyo revival ever happen? A year ago you’d probably have dismissed this as one of those stupid questions, like “Will the euro ever strengthen?” or “Will the rain ever stop?” Of course it will, you’d have said. Simple logic tells us that you can’t undervalue a perfectly satisfactory manufacturing economy indefinitely. Sooner or later, the combined effects of a weaker currency and a stronger export position are bound to have the desired effect, and simple arbitrage pressures will force the Japanese stock market back into a proper state of balance with the international investment community. Shares are bound to go up.

Offshore Investment Theories - Signs

It’s a nice theory, but this year the signs are that things are working out differently. Japan’s official growth rate has just been regraded by foreign investment analysts from 1 per cent to as much as 2.2 per cent. Industrial production levels have been rising by as much as 10 per cent year-on-year and its newly-appointed government (somewhat hastily convened and re-elected in July, after the sudden hospitalisation of the serving Prime Minister) has made a passable job of a political transition that most people thought was beyond it. The yen has tumbled back by 7 per cent in the last year, making it easier for Japanese exporters to sell into foreign markets such as China or the US.

But the stock markets have been inconsolable: the Nikkei 225, Japan’s most important large-company index, has slumped by nearly a quarter since the late spring, and even the broader-based Topix is 12 per cent down on the year (all figures correct in mid-October).

Offshore Investment Theories - Japanese Private Investors

Even worse, it seems clear at present that Japanese private investors are in no mood for taking any further risks at all. They’re buying bonds, they’re opening bank accounts, they’re doing everything except investing in domestic Japanese equities. And all our recent conversations with fund managers and analysts have confirmed that, apart from a handful of small-company stock-pickers, nobody in the international markets has much of an appetite for Tokyo either.

Besides, some people are saying, we haven’t defined what we mean by a revival anyway. Do we mean a stock market revival that will carry company valuations to the kinds of levels that we might expect to see on Wall Street? If so, we’ve already arrived: average Japanese price/earnings ratios are almost twice what they are in the States - 60, and rising. How much higher would it be sensible for us to go?

Or do we mean an economic revival, perhaps? Japan has the world’s third-highest per capita income (after Switzerland and the US) and its industrial performance has improved quite a lot since the redundancy programmes of the past five years. Its current industrial expansion into other parts of South-East Asia (surely the world’s biggest potential developing country market) is both timely and well-judged, for reasons we’ll examine shortly. But foreign investment analysts are still muttering darkly that it will all end in tears.

Offshore Investment Theories & Moodys

Moodys, the world’s most widely-recognised credit rating agency, has recently downgraded Japan’s domestic bond rating by two full grades, leaving Japan on the same risk rating as Portugal. Increasingly, there are fears that Japan may have got itself so heavily mired in debt that its economic growth will never become fast enough to shrug it off.

Some of the most worrying trends are social. We know, of course, that Japan’s population profile is ageing faster than any other developed country in the world, because of low birth rates and much longer life spans during the past 40 years. Everyone is agreed that the question of pension provision will soon start to get very urgent and that Japanese companies will need to come up with something pretty special if they’re to pay for all these people with the money produced by a dwindling working-age population.

There are a lot of doubts out there in the marketplace about just how much it’s going to cost, and that’s part of the reason why so many fund managers are wary.

Offshore Investment Theories & Unemployment

The other main social factor is unemployment, something that we’ve already touched on. Now that unemployment levels are pushing 5 per cent, the highest rates in post-war history, people are scurrying down to their post offices and buying special government bonds with which to build up their retirement nest-eggs, rather than hitting the high streets with their credit cards. So the domestic consumer market is in crisis, shops are empty and even long-established chain stores are reporting losses.

Resellers and referrars services

Banking Online: Your Money and the Internet

2010-07-20T14:05:00.000-07:00

Banking online is one of the newest and more important technological advances for the banking system. Banking online makes basic banking much more accessible. Suddenly, you can perform many basic banking tasks whenever you would please. As long as you have an Internet connection, you will be able to perform all of these tasks. There are some things to know and consider about online banking to understand the connection between your money and the Internet.

Security
There are multiple things to consider with security and online banking. There are various parts of online banking that require special security precautions. Initially, you need to make sure that you are on a secure connection. There will be a small lock at the bottom of the browser. This lock means that the connection is secure, and that your information will be safe. You also need to be secure with your password and account. You need to create a password that is random and hard to predict. You also need to make sure that, when done with online banking, you log out manually. This can help to make sure that you are the only person who can get into your online banking account.

What Can Be Done
There are a lot of different things that can be done with online banking. All of your accounts can be viewed. You can see all transactions, and can see the balances for all of your accounts. You can easily transfer money between all of these accounts. You can pay bills online. You can set up an automatic online bill payment system that will cause you to be billed monthly. This makes sure that you do not miss any payments. You can also easily check up on rewards points for your credit cards through the bank online. All of this can be done wherever there is an Internet connection.

Downtime Issues
There are some downtime issues to consider when thinking about online banking. Just like any other website, the online banking website will have downtown. Some of this will be schedule for maintenance. Sometimes, this will be without notice. While online banking is nice, it may not be smart to fully rely on it for major banking issues.

Security issues are huge when it comes to online banking. Many people fail to realize that online banking can be somewhat of a safety concern, as far as your personal information is concerned. There are a lot of positives to online banking, however. Suddenly, you can do work with your bank, even when the bank is closed. This can save people multiple trips to the bank every year. There are some downtime issues, however. Just like any other website, online banking can feature downtime and technological issues. When this happens, the usefulness of online banking is gone. With all that being said, online banking is the most efficient way to work with your bank. Take advantage of all online banking opportunities.
Get your anonymous credit cards

US Bank Account as a Non-Resident - A Must to Make Money Online?

2010-07-18T15:05:00.000-07:00

Getting to grips with offshore banking

2010-07-18T14:57:00.000-07:00

You might already think that you know all you need to about private offshore banking, but if you’ve got a fair bit of capital to manage and could do with re-structuring your finances, then it is probably right up your alley.

Private Offshore Banking is designed to offer a personalised, tailor-made service which will optimise your existing assets, preserve your wealth and generally make your financial life a lot easier.

Offshore private banks cater for a wide variety of clients; from expatriates and international executives, to those looking to establish an effective way to transfer wealth to their heirs. It’s ideal for people looking to diversify their funds internationally while guarding against unnecessary taxes and minimising financial uncertainty, alongside those who need the flexibility and freedom of efficiently dealing in more than one currency.
The background

Historically, private Banking has tended to be seen as quite elitist, with certain institutions imposing stringent criteria when it comes to choosing their clientele. To some extent this is true and certain banks ask for a minimum deposit of around £500,000 – £1 million, but in recent years most banks have begun to offer similar services to customers with just a tenth of this kind of cash in their back pocket.

Private banks pride themselves on offering a diverse range of services to their clients including wealth management, savings, estate planning, trusts, and all kinds of tax planning. Private Offshore Banking means that you will benefit from all of these, alongside the assurance that your account will be based in a tax haven.

Similarly, if you wish to move a certain amount of money onshore, your personal relationship manager (RM) is already aware of your individual circumstances and can suggest the best way to mitigate against any unnecessary Capital Gains Tax (CGT).

One thing is for certain; private Banking means that there is no mis-selling and no fobbing you off with products that you don’t really need. RMs are there to help you structure your finances appropriately, and not simply earn commission based on the specific products you invest in. You also benefit from the close-knit support network surrounding each RM; if you are looking to invest in a fund, they will first consult an investment specialist to advise on the most appropriate decision for you.

Decisions, decisions…

If you’re set on the idea of channelling your fortune into an offshore private bank account, then the next question is which one to choose.
Looking for the ideal bank might seem like looking for a needle in a haystack, but if you are serious about your investments and have a large chunk of money to deposit, it’s worth familiarising yourself with the winners of Euromoney’s annual global private Banking awards.

The awards rank the best private banks according to their wealth management services, profitability, ratio of clients to relationship managers and services offered – so you know if it’s sitting pretty at the top of the list, as UBS was at the 2007 awards, then it offers a top notch, all round service.

General consensus is that the bigger the bank, the better your funds will be taken care of. This is to some degree rooted in truth considering an international financial institution with a steadfast reputation has an exceedingly slim chance of going bust, meaning your funds are in very safe hands. With this in mind, the best choice for most expats will probably be a global private bank with a well-established branch in your chosen jurisdiction.

The Isle of Man, Jersey and Guernsey all play host to a wealth of offshore private banks, although the stereotypical Swiss bank account still lives on. Switzerland currently controls an estimated 35 per cent of the world's private and institutional offshore funds, equating to a monetary value of 4.6 trillion Swiss francs or around £1.9 trillion.

Certain types of offshore account, such as the Dual Currency Deposit account offered by Royal Bank of Canada (RBC), will protect against currency fluctuations, allowing expats to deposit capital at a fixed exchange rate and, as long as the desired currency has not seen a marked depreciation in value, investors can then withdraw it at the agreed rate.

The inner workings

Offshore private Banking in the 21st century is regarded as more of a bespoke gateway into investment management rather than the traditional ‘family’ relationship built on generations of trust, however it undoubtedly still offers a highly personalised service.

As a result, relationship managers have assumed the position of objective Financial adviser and sounding board, rather than just the service provider. In addition, RMs will only work with a handful of other clients – lower net wealth individuals Banking with RBC will share theirs with an average of 50-60 others – meaning that you don’t end up getting a watered down service.
Individuals opening an offshore private bank account will not have to compromise on the usual, tangible benefits either. Offshore clients will be granted universally accepted debit and credit cards, cheque books in different currencies and global ATM access, as well as interest paid gross and favourable foreign exchange facilities.

What should I look for?

Moving from your comfort zone can be daunting so make sure you know what you want to achieve. Familiarise yourself with the average annual management fee, as well as the cost for any extras – remember that although extras are great, you shouldn’t skimp on the services you really need in order to obtain them.

If you are serious about investing, it will also be of benefit to find out how well equity managers have done over the past 5-10 years, alongside the range of bespoke services offered and how far the specific advisory services extend.

Buy Credit cards with account

Internet Offshore Banking

2010-07-13T05:50:00.000-07:00

Storms gather over fantasy islands

Mmm...the Bahamas, the Cayman Islands, Grenada... the very names trip off the tongue and conjure up images of exotic and sophistication. Bet you could get a decent return or two from a company out there...

Imperial Consolidated, for example: 15 per cent per year for one of its funds - guaranteed. 15 per cent per year! Guaranteed! Why even a poor old hack could make a decent man of himself with returns like that.
But that’s the thing about fantasy holiday destinations, they always seem just a little too fantastic.

Internet Offshore Banking & Investment International

As reported elsewhere in Investment International, Imperial Consolidated is offering fabulous returns. And while we are not saying IC will fail to achieve, one wonders whether the firm would have passed more stringent regulatory requirements in say, Jersey.
It has been a tough time for IC lately. News has been filtering through from the Bahamas that the firm has been forced to cease offering its Hint credit card.

This, because it lost the backing of card issuer Leadenhall Bank & Trust, and card administrator Axxess International. The firm has also decided to ship out of the Bahamas and may set up shop in Grenada, where it also has offices.

Internet Offshore Banking - Grenada

Meanwhile, over in Grenada, a firm called Preferred Trust, run by a man who is operating under a new Grenadan passport and a different identity, is offering even more enormous returns for investors.

Joseph Severin (previously Verlin Swartsendruber) is hoping to give investors returns of up to 60 per cent per year on investments as low as US$10,000.

Mouth watering stuff. But Swartsendruber, sorry Severin, admits the returns are not guaranteed and says his company has not been independently audited because this is unnecessary under Grenadan law.
So there you have it. Enormous returns and risk to match. But then, that’s the fantasy of the sunshine islands.

Still, it may be harsh to criticise some of these jurisdictions too heavily. After all the Bahamas has just landed the much-coveted Qualified Jurisdiction status that is awarded by the IRS in America.

Internet Offshore Banking & America

What this means is that America approves of the way the Bahamas is being regulated and of what it is doing to fight money laundering and tax ‘avoision’ by US citizens.
For jurisdictions that fail to land the ‘qualified’ status, the punitive measures are severe. Companies operating in such centres will face the sanction of a 30 per cent withholding tax on US-sourced income.
Ian Fair, chairman of the Bahamas Financial Services Board, was naturally overjoyed at the news.

He said: “It is obviously very, very good news because it clearly indicates recognition and acknowledgement that the laws that we have put in place and amended meet international standards.”
Fair also reckons the boost from the US will help the Bahamas to escape the OECD’s purge on tax havens.

Internet Offshore Banking & The Bahamas

“Our chances [of escaping the blacklist] have been increased. They have been enhanced by this because the only country which keeps a constant watch on us is our great neighbour, the United States.”
The Bahamas submitted its case for QJ status in the middle of last year, but the US stalled because of the centre’s lack of compliance with Know Your Customer rules.
It was only recently that the Bahamas introduced KYC rules which allowed the islands to win the status. At the moment the Bahamas doesn’t know how long it will retain QJ status.
Register an offshore numbered account

OFFSHORE TRUSTS FOR ASSET PROTECTION

2010-07-13T05:42:00.000-07:00

Introduction To Privacy Issues Personal privacy is valued by all, but attacks on it are unobtrusive, and people usually do not know who has personal information about them. When you obtain a new credit card, buy a major appliance on credit, make a catalog purchase, and so on, a remarkable amount of your personal information is made available in computer databases. Records of martial status, income, age, credit ratings, academic qualifications, place of employment, and many others are available to commercial firms, the government, and pretty much anyone else who has the tenacity to find it. Personal privacy includes the concept of keeping information about our financial affairs private. Business firms, especially if they are privately owned, feel the same way; they are particularly resentful when financial and other confidential information is made available to competitors. Most people consider their financial affairs to be no one's business but their own, and no one wants strangers rummaging around in their bank accounts finding out where they spend money or where money is being put toward retirement. This is especially so if there is no knowledge of who is looking at the records of their purpose for doing so. Privacy, including that of financial matters, continues to erode in the United States. Many believe that Internal Revenue Service income tax statements have been made available to strangers even though confidentiality is claimed. Applications can be made to courts who can compel that books and records be made available to lawyers and government departments. They can then be used as evidence against a person in lawsuits. In the Boyd case of 1885, the Supreme Court said that a person's private books and papers used in a business cannot be used against that person. However, in 1984, the Doe decision said that a court can now compel a person to turn over private books and papers used in a business. Consequently, the Boyd decision was rendered worthless, which would appear contrary to the position that a person cannot be compelled to provide evidence that might be used against him. These privacy rights that many have fought to protect should attach to all people, not just criminals, to protect the innocent as well as the guilty. A Solution to Protecting Assets Anyone who has property, money, or investments of, perhaps, $350,000 should consider planning protection against possible attacks on privacy. (Schneider, 1995). Litigation, or "lawsuit lotto," has become a national pastime and a popular means for the accumulation of wealth. Today, if a person believes there is a possibility of obtaining money by means of a lawsuit, he or she may approach a lawyer. The converse is often true: a lawyer may approach a possible client and suggest bringing suit. In either case, the lawyer is likely to take the case on a contingency basis. When a lawyer and prospective client discuss the advisability of bringing a suit against someone, the lawyer will look at the probability of success. If probability is low, he or she will not take the case; if the probability is high, the prospective defendant's assets will be examined to ascertain if they are large enough to justify bringing suit. If the assets are small, the fee would be small, and the lawyer would not take the case. Let us assume that a prospective defendant has money in a bank account and other assets and that the danger of losing them from a lawsuit exists. The assets can be protected by placing them, before a suit is brought, into an asset protection trust. Asset protection planning means adopting advanced planning techniques by placing one's assets, whether inherited, earned, or won, beyond the reach of potential creditors. The trust is a legal and ethical way of protecting assets that does not involve hiding them or fraudulent transfers. (Donlevy-Rosen, 1997). As with any potential legal problems, advanced planning is of paramount importance. While few people ever plan to be sued and have their assets taken away from them by creditors, litigants, or through divorce settlements, these situations unfortunately occur too often for people to ignore them. They need to be part of a sound financial plan.Increasingly, individuals are looking offshore for protection and are setting up offshore asset protection trusts. Potentially, both creditors and the IRS can be held at bay, although the IRS has imposed stricter reporting requirements and penalties on deferred income for those who abuse the privileges that trusts provide.
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Financial help: how and why to open an offshore bank account

2010-07-06T07:41:00.000-07:00

Basic information on why and how you might want to open an offshore bank account, including preliminary research, application, profits and tax issues.

Think of offshore bank accounts and you tend to think of millionaires, money laundering and unscrupulous deals. The reality is that opening an offshore account – basically meaning a bank account in a foreign country - can be relatively straightforward, completely legal – and of course profitable. Offshore banks – also known as tax havens -- have proliferated in recent years. Today there are over 200 countries and territories that specialize in such activity. In the Cayman Islands, it is sometimes jokingly said that there are more banks than people. Citicorp, the huge banking company, was one of the first of many large US companies to set up its financial operations offshore.

So why would anyone want to – or need to – open an overseas bank account? One of the misnomers about an offshore bank account is that it is only for the very wealthy. In fact, theoretically anyone can open an account overseas and in these days of electronic banking, most applications can be handled on-line or by mail. You can also have your application handled by specialized companies or financial

advisors who will help to deal with the paperwork and regulations. The reason most individuals and companies open an overseas account is of course, to save or make money. Foreign banks offer a very good interest rate – usually much better than most US banks. In general, the longer you keep your money in one account, the more interest you will earn. Apart from the benefits to you, the investor, there are also huge economic benefits for the small foreign country where your bank is located. Privacy is also a major factor – many countries specialize in banking confidentiality; Switzerland immediately comes to mind. Some offshore banks have secrecy laws so strict that it is considered a crime for any bank employee to discuss your account with anyone except the account holder. Some overseas banks even allow you to open an account in a fictitious name.

To actually open an overseas bank account, you must firstly do some research – which country and which bank will be most suitable for your needs? Is a large or small bank better? There are advantages either way here – a larger bank may offer greater security and more services, but with higher fees. Keep in mind that you will have to communicate regularly with the bank, be able to check your account, deposit and withdraw funds and perhaps even visit them occasionally. The factors you would take into account when opening your regular checking or savings account here would also apply – what kind of fees will apply, do you have to maintain a minimum balance, and of course what rate of interest you will earn. Is the interest rate on your account tied into the US economy or the local currency of the country you are banking in? You may want to consider other services the bank offers, such as different types of accounts, credit cards and safety deposit boxes. Although you may not need any of these things; opening an offshore account can be as straightforward as just having a checking or savings account. Finally, you may want to consider the location of the bank as well – most offshore banks are situated in warmer climates, such as the Caribbean or Bahamas and it can be fun to combine business with pleasure!

Most people who open an overseas bank account want to enjoy the significant tax breaks that this will give them. The tax rules regarding offshore accounts can be complicated and you should get specialist tax advice if you are thinking of doing this. In general, if you have money in a bank account in another country it does not fall under US tax laws. You may have to declare your income but not necessarily pay taxes on it. Once you start applying this same rule to other investments - stocks, real estate etc – the tax rules can be even more confusing. Again, be sure to get professional tax advice before signing anything!

Paypal debit card ATM

Offshore Investment Theories

2010-07-06T07:36:00.000-07:00

The long-heralded recovery in the Japanese financial markets appears as far away as ever. Michael Wilson looks at why government reforms have been slow to spark a revival

Will the Tokyo revival ever happen? A year ago you’d probably have dismissed this as one of those stupid questions, like “Will the euro ever strengthen?” or “Will the rain ever stop?” Of course it will, you’d have said. Simple logic tells us that you can’t undervalue a perfectly satisfactory manufacturing economy indefinitely. Sooner or later, the combined effects of a weaker currency and a stronger export position are bound to have the desired effect, and simple arbitrage pressures will force the Japanese stock market back into a proper state of balance with the international investment community. Shares are bound to go up.

Offshore Investment Theories - Signs

It’s a nice theory, but this year the signs are that things are working out differently. Japan’s official growth rate has just been regraded by foreign investment analysts from 1 per cent to as much as 2.2 per cent. Industrial production levels have been rising by as much as 10 per cent year-on-year and its newly-appointed government (somewhat hastily convened and re-elected in July, after the sudden hospitalisation of the serving Prime Minister) has made a passable job of a political transition that most people thought was beyond it. The yen has tumbled back by 7 per cent in the last year, making it easier for Japanese exporters to sell into foreign markets such as China or the US.
But the stock markets have been inconsolable: the Nikkei 225, Japan’s most important large-company index, has slumped by nearly a quarter since the late spring, and even the broader-based Topix is 12 per cent down on the year (all figures correct in mid-October).

Offshore Investment Theories - Japanese Private Investors

Even worse, it seems clear at present that Japanese private investors are in no mood for taking any further risks at all. They’re buying bonds, they’re opening bank accounts, they’re doing everything except investing in domestic Japanese equities. And all our recent conversations with fund managers and analysts have confirmed that, apart from a handful of small-company stock-pickers, nobody in the international markets has much of an appetite for Tokyo either.
Besides, some people are saying, we haven’t defined what we mean by a revival anyway. Do we mean a stock market revival that will carry company valuations to the kinds of levels that we might expect to see on Wall Street? If so, we’ve already arrived: average Japanese price/earnings ratios are almost twice what they are in the States - 60, and rising. How much higher would it be sensible for us to go?

Or do we mean an economic revival, perhaps? Japan has the world’s third-highest per capita income (after Switzerland and the US) and its industrial performance has improved quite a lot since the redundancy programmes of the past five years. Its current industrial expansion into other parts of South-East Asia (surely the world’s biggest potential developing country market) is both timely and well-judged, for reasons we’ll examine shortly. But foreign investment analysts are still muttering darkly that it will all end in tears.

Offshore Investment Theories & Moodys

Moodys, the world’s most widely-recognised credit rating agency, has recently downgraded Japan’s domestic bond rating by two full grades, leaving Japan on the same risk rating as Portugal. Increasingly, there are fears that Japan may have got itself so heavily mired in debt that its economic growth will never become fast enough to shrug it off.
Some of the most worrying trends are social. We know, of course, that Japan’s population profile is ageing faster than any other developed country in the world, because of low birth rates and much longer life spans during the past 40 years. Everyone is agreed that the question of pension provision will soon start to get very urgent and that Japanese companies will need to come up with something pretty special if they’re to pay for all these people with the money produced by a dwindling working-age population.

There are a lot of doubts out there in the marketplace about just how much it’s going to cost, and that’s part of the reason why so many fund managers are wary.

Offshore Investment Theories & Unemployment

The other main social factor is unemployment, something that we’ve already touched on. Now that unemployment levels are pushing 5 per cent, the highest rates in post-war history, people are scurrying down to their post offices and buying special government bonds with which to build up their retirement nest-eggs, rather than hitting the high streets with their credit cards. So the domestic consumer market is in crisis, shops are empty and even long-established chain stores are reporting losses.
Anonymous Visa Card

Co-Branded and Affinity Credit Cards in the U.S

2010-07-02T07:41:00.001-07:00

Co-branding has entered its late adolescence and is a fixture of American marketing, and increasingly so, of the global payments industry. There are literally thousands of co-branded and affinity card programs on offer. According to some industry estimates, approximately 45% of the cards in the wallets of U.S. consumers are co-branded or affinity cards.
American consumers are moving away from cash and checks as the means to purchase the things they need and want, while increasingly using plastic for shopping, and electronic vehicles to pay their bills.

The use of credit and debit cards and electronic methods (pre-authorized and remote payments) is displacing the traditional paper (cash and checks), even as the dollar volume of payments and the number of transactions expand. Consumers are migrating to card-based forms of payment (credit, debit, pre-paid cards, gift cards, benefits cards and chip-based cards), motivated in part by their convenience, enhanced services and reward programs, as well as growth of the Internet channel.

Methodology

Packaged Facts’ study of co-branded and affinity cards is based on extensive secondary research and interviews with industry and regional experts. Secondary sources include data-gathered from relevant trade, business, and government sources, including card industry journals, trade and general press (print and electronic), annual reports and 10(k) filings, company literature, consultancy publications, Packaged Facts reports, websites and white papers.

Interviews were conducted with representatives of Discover, Visa, Visa Europe, Capital One, Kroll-Info Americas, Maritz Inc., Auriemma Consulting Group and other marketing and consulting firms operating in the co-branded and affinity card space.

About the Author

An expert in primary research, Té Revesz is the principal of Revesz International and Kentera Associates. She has conducted thousands of in-depth interviews with business, political and labor experts around the world. She was featured in Super Searchers Go to the Source as one of the US’s top primary researchers. Prior to founding Kentera Associates, Té headed the Healthcare and Industrial Practices of FIND/SVP’s Strategic Consulting and Research Group and was its International Practice Coordinator. She was also a Director of FIND’s Signia Partners division. Before joining FIND, Té served at Business International as Director of North American Publications, Editor-In-Chief of its global newsletter, and helped create BI’s global risk assessment product. She also worked at Prudential-Bache’s financial planning group and at Citibank’s Washington Representative Office.

What You’ll Get in this Report

Co-Branded and Affinity Credit Cards in the U.S. makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective players can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Co-Branded and Affinity Credit Cards in the U.S. offers.

Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You Will Benefit from this Report

If your company is already doing business in the co-branded and affinity credit card market, or is considering making the leap, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for co-branded and affinity credit cards, as well as projected markets and trends through 2011.

This report will help:

Marketing Managers identify market opportunities and develop targeted promotion plans for co-branded and affinity credit cards.
Research and development professionals stay on top of competitor initiatives and explore demand for co-branded and affinity credit cards.
Advertising agencies working with clients in the banking and retail industries understand the product buyer to develop messages and images that compel consumers to use co-branded and affinity credit cards.
Business development executives understand the dynamics of the market and identify possible partnerships.
Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
Co-branded debit cards

Three Distinct Types of Offshore Bank

2010-07-02T07:38:00.000-07:00

In general the banks we work with, like all offshore banks, specialise in some or all of these three distinct offshore market segments:
Private banking: catering to rich individuals, including their personal investment companies, foundations etc Small commercial/retail offshore business: for those who don’t have sufficient balances to qualify for private banking International commercial banking: for international businesses requiring trading services
Allow me to explain in more detail...
Private Banking
Although private banking is not a simple business, there is a very simple model to keep in mind: "keeping rich people happy". The definition of private banking varies but is generally understood as investment management offered on a personal basis by a bank to an individual with disposable wealth of more than, let’s say, $1,000,000.
Private banks were originally so called because they were owned by wealthy private individuals. Under Swiss law these bankers were personally liable for the obligations of the bank. If a bank failed, bankruptcy was not an option. It was disgrace and jail. As a result, no old line private banks ever failed.
With globalization and the need to serve customers abroad, almost all the old ‘private banks’ have now been bought out and are subsidiaries of bigger international banks. Though, if you have the cash and the desire, there are a few true private banks remaining. Some of them are so discreet and private that to this day they don’t even have a nameplate outside their offices. Needless to say, you won't find then listed in this report either! But if you have over a million or so to invest, fill out the referral form and we can make suitable introductions.
Anyone can get a personal private banker assigned in an elite private bank with about €300,000 opening deposit. When we say walk in, you will of course need an introduction, identification and references.
Private banks offer all kinds of accounts, from simple cheque and deposit accounts to complicated commodity and swap operations, and even – yes – investments in sub-prime mortgage-backed securities.
Private bankers normally prefer to be approached and considered as objective financial advisers or family confidants rather than as an investment salesman. They are wealth managers, accustomed to dealing with the wealthy, and their services don’t come cheap.
Consequently private banks may not be the most effective choice for a reasonably sophisticated investor who wants to play an active role in the management of his investments. However, if you just want to stick a million in a safe haven, visit once a year on vacation and follow your portfolio on a monthly basis, then private banking is just what you need. You can expect and demand above-average returns and an extremely high level of personal service.
Family Office Services
A family office is a typically a private company or foundation that manages investments for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many generations. Traditional family offices provide personal services, like managing household staff and making travel arrangements. Other services typically handled by the traditional family office include property management, day-to-day accounting and payroll activities, and management of legal affairs.
More recently the term "family office" or multifamily office is used to refer primarily to financial services for relatively wealthy families. Family office services are an extension of private banking. More and more private banks are offering what are, effectively, outsourced family offices. If you have a few million upwards to invest, you might want to ask about family office services offered by your offshore bank. Who knows, you could find such services very useful.
Small Offshore Commercial Business
Numerous offshore banks offer services to expatriates as they perceive such business to be relatively risk free, easy to manage, and profitable. In essence, expatriate services encompass managing accounts for people resident outside their home countries who may be employed, self-employed or retired. The focus of expatriate banking providers is online banking, call centres, and the provision of "packaged" investment products.
Although the service offered should be professional and online banking excellent, the relationship between the bank and client could not be characterised as personal or in any way similar to the relationship between a client and a top-flight private bank.
Be careful: Some banks try to get away with providing this level of service but calling it private banking. HSBC is one.
International Commercial Activities
Many of our readers are interested not just in investing, but in doing active business offshore. In such circumstances an offshore bank that specialises in private banking or expatriates will not be suitable. Our commercial clients seek similar services to an onshore commercial bank and will require access to some or all of the following services:
Cash management Foreign exchange and treasury services
27 | P a g e
International trade - letters of credit, documentary collections, cross-border guarantees and global correspondents Bulk cheque clearing Risk management tools to cover foreign exchange risks, interest rate risk etc Financing Payment, receivables and payroll solutions Selling solutions: e-commerce and merchant services Expertise in specific fields such as energy, aviation, shipping, aircraft financing or real estate.
The Selection Process
OK, time for the next step. You have done your research and have found some banking ‘possibilities.’ They look fine to you, and you appear to be acceptable to them. With that first hurdle over, you need to apply some more selection criteria. When choosing an offshore bank, there are two main factors you must take into account (besides of course privacy which we have already covered):
Stability – is it a well established, solvent bank?
Quality of Service – are they fast and efficient?
Stability
Due diligence and KYB (“Know Your Banker”) is essential. There’s no point in jumping out of the frying pan into the fire.
There is no reason to save your hard-earned cash from your taxman or ex-spouse or other leeching types, only to have it disappear into a virtual black hole when your offshore bank closes its doors. Neither do you want your investment manager to churn away your money on “hot” deals that never pan out, but that bring him fat commissions.
These days with the internet, it is relatively easy for anyone to set up a bank. You need a licence, but jurisdictions you barely knew existed, like Montenegro or Somalia, will for a fee, provide all comers with a valid government-issued banking licence. Try to avoid banking in these high-risk areas as they attract far too many con artists and dreamers. Before investing any money, make sure the bank you are investing in is run by professional bankers and by some Eastern European teenager with good web programming and design skills, who just decided last month that it would be profitable to be a bank president.
Most financial houses seem solid until they collapse unexpectedly. The Marc Harris Organisation in Panama attracted many clients. Marc Harris is currently serving a long jail sentence in Florida. Swedish-run Bank Crozier of Grenada and St Lucia also seemed highly professional. Paritate Bank in Latvia impressed a lot of people with innovative products, flexibility and good customer service. Now they are all defunct. They all sank, taking with them their clients’ money. (Actually Paritate is back up and running again, but the old investors never did get their money back).
Another thing to consider when reviewing internet sites of banks in exotic locales: Any bank anywhere that appeals to shady characters will be (sooner, rather than later) shut down by regulators. You don’t want your hard earned money to get mixed up in such ugly messes. So stay away from banks that explicitly encourage you to hide your money.
It is almost unheard of for big banks in civilized, well-regulated first world countries, like the UK or Luxembourg, to be corrupt from top to bottom. But, of course, even the unlikely can happen! That is exactly what did happen not so many years ago with the Bank of Credit and Commerce International (BCCI) which was registered in the UK and Luxembourg.
The bottom line is that due diligence is important. Most offshore banks are highly reputable, stable, well managed and professional. It’s the ones that are not who grab the headlines. But it’s important to ask questions until you are entirely comfortable, and to ask for second opinions (from people who know what they are talking about) if you don’t feel totally confident in your own offshore knowledge. Don’t believe everything you read on the net or in a glossy brochure.
Quality of Service
“Different strokes for different folks,” they call it. You would be surprised how quality service means such different things to different people. To some, it might be a friendly old Swiss banker who will buy you lunch, give you a nice golf umbrella and chat for a few hours. He will want to learn all about your financial, business and social situation.
Other people may prefer a banker who just does as he is told and never suggests that you have any personal meetings. You may prefer it if your banker doesn’t even know what you look like. Maybe all you want is a good internet interface so you can wire money in or out in the middle of the night if you want to, with super smooth technological efficiency.
Some people love it that their personal banker knows and trusts them enough to move six or seven figures based on a single phone call or email. This would shock other of my clients who want to log in first through a five step encrypted security system with three passwords plus a one-time code generator operated by a 6-digit PIN in order to give instructions!
Buying banking services is like buying any other services. You can look at websites and brochures, talk to the people. How fast and efficiently do they respond to phone calls and emails? That is always a good indicator. I have dealt with banks who will reply to emails in a foreign language within five minutes if you e-mail them in the middle of the night, and others who simply absolutely never reply to email, or who specify on their websites that they will respond “within five business days.”
Then, too, nothing is forever. If you receive poor service or hear any rumours you don’t like, you can pull out immediately. At least you should be able to. That’s something worth checking too!
Understanding the Products on Offer
Products offered by banks around the world are broadly the same, though they often go under different names. However, there are products you might come across in the offshore arena that you may not be entirely familiar with, or you may not have known that such wondrous possibilities existed!
Here are a few definitions and explanations:
Safe Deposit Boxes
A safe deposit box is a locked box reserved for you in the vault of your bank. It’s a place where you can keep small, high-value items. People typically use safe deposit boxes for documents such as physical stocks or bonds, or for small, high value goods that they want to keep safe... like valuable coins, jewellery or a stash of microchips. You might keep these items for pure investment purposes – say gold bullion or uncut diamonds – or for more sentimental reasons (your great-grandmother’s wedding jewellery for example).
Typically you will keep the keys to the box, while the bank controls access to the vault where all the boxes are located. Normally the bank does not keep a duplicate key... so if you lose the key you will have to pay for a specialist locksmith to come in and break open the box, then you’ll have to buy the bank a new box too. Needless to say this is expensive, so do take care of your keys!
Multi-Currency Accounts vs. Multiple Currency Accounts
Different banks (and different countries) maintain different accounting systems.
Multi-currency accounts are quite common in offshore banks. These are very flexible in that they allow you to keep many different currencies in the same account. You have just one account number, but when you look at your statement on the internet you will see different balances... X amount of US dollars, Y amount of Euros etc. If you send a transfer to a multi-currency account, the bank will typically keep the deposit in the currency received, rather than converting it to any particular default currency.
Other banks also allow you to hold balances in different currencies, but operate on a different system – a separate account number for each currency. This means that, if you wish to operate in a number of different currencies, you need to maintain multiple accounts. The net result is basically the same, but you will have a series of account numbers and you must take care not to confuse them. For example, if you send US dollars to the Euro account number, the bank will assume you want to convert that balance to Euros and will do so without informing you.
Precious Metals Storage
Many Q Wealth members have invested in assets like gold and silver and have made huge returns on their money over the past few years as commodity prices have shot through the roof. Perhaps
strangely, however, if you ask the average banker how to buy gold, they don’t know – so they will tell you it is not a good investment. You have to be insistent.
Some banks offer a basic service where you can buy gold and simply store it in your safe deposit box. This certainly works, but may not be the most practical way of handling it. Why? Because each time you want to buy or sell, you have to visit the bank personally. Only you have access to your box. Fine if it’s around the corner, but not if it’s around the world.
There are various other practical ways of buying gold such as Perth Mint Certificates or Exchange Traded Funds.
However for the purposes of this report and understanding offshore banking products generally, suffice to say it’s important to understand the difference between allocated storage, and unallocated – also known as pooled storage. Both these systems are used by private offshore banks.
“Allocated” means that a certain piece of metal (specific gold bars, coins or whatever) belongs to you. The metals are stored in the bank’s general vault, rather than in a specific safe deposit boxes, but they are specifically allocated as your assets. For practical purposes, therefore, you can instruct the bank to buy and sell on your behalf without you having to travel there.
“Unallocated” or “pooled” storage means that the bank simply has X amount of gold in its vault, and allocates so many grams, ounces or kilos to your account as part of a book-keeping exercise. But the banker cannot in this case take you down to the vault and point out your specific gold bar. Again you can instruct the bank to buy and sell on your behalf.
Allocated storage of course is better, but pooled storage tends to work out a lot cheaper in terms of the actual fees the bank charges for taking care of the metals in its vault.
Numbered Accounts
Numbered accounts (or pseudonymous accounts, which are the same but are known by code words instead of numbers) are not all that different from normal bank accounts. The usual account records, such as statements and what regular bank staff can see in their computers, omit reference to the customer's name or other identifying information, replacing it with a code number or the pseudonym. The relationship between the code number or pseudonym and the actual customer is known only to a few senior managers within the bank.
It is important to emphasize that the bank has an obligation to know the true identity of both the account holder and its beneficial owner. There is no such thing as an anonymous account.
Typically the way numbered accounts work these days is that you will have a numbered account and a regular account in the same bank. Numbered accounts cannot be used for regular transactions such as wire transfers or checking. So when you want to make a deposit or withdrawal, your private banker will personally carry out a cash transaction at the counter between the two accounts. In the accounting records, the transaction will appear on your personal account as a cash deposit or withdrawal, so there will be no direct link to your numbered account.
Of course, within reason and subject to normal limits, you can carry out cash transactions directly on the numbered account.
Brokerage Accounts
A regular bank or ‘cash’ account is simply used for depositing and transacting in a currency such as pounds, dollars or francs. Your brokerage account, however, can be used for buying stocks, funds and other investments on the world markets. The brokerage account may be stand-alone, or may be linked to your offshore bank account in the same institution. Either way, you will typically have to transfer funds from the cash account to the brokerage account before you can buy stocks.
Plastic Cards
Almost all offshore banks will offer you the option of linking some kind of plastic payment card to your account. This may be anything from a hole-in-the-wall cash card through to a premium travel and entertainment card like the Platinum American Express or Diners Club. The most common brands, of course, are Visa and MasterCard, and there are even more variations on these cards than there are banks.
You personal banker will be happy to explain the range of cards available and what are the principal differences between products like debit cards, deferred debit cards, secured credit cards and so on.
What your banker will not explain, however, is that you may well be able to enhance your privacy by obtaining a card from a completely different bank.
Why? Because the moment you use a card issued in your name by your principal offshore bank, you are creating a permanent electronic trail in the systems of the card network operator (for example Visa). So your banking records are no longer exclusively held by your offshore bank. The card networks typically process data all over the world, exposing it to numerous jurisdictions where investigators might be tempted to go on fishing trips.
Anonymous Cash Cards
Like numbered accounts, anonymous cash cards do still exist, but there is a lot of hearsay and legend surrounding them. Here are the facts.
By anonymous cash card we refer to a plastic card which, together with a PIN code, can be used for withdrawing cash in automated teller machines around the world. It can also be used sometimes in merchants such as supermarkets, but acceptance is generally limited to certain locations. It’s anonymous because, unlike normal credit and debit cards, there is no name printed on the card nor encoded on the magnetic strip.
Anonymous Cash Cards
Like numbered accounts, anonymous cash cards do still exist, but there is a lot of hearsay and legend surrounding them. Here are the facts.
By anonymous cash card we refer to a plastic card which, together with a PIN code, can be used for withdrawing cash in automated teller machines around the world. It can also be used sometimes in merchants such as supermarkets, but acceptance is generally limited to certain locations. It’s anonymous because, unlike normal credit and debit cards, there is no name printed on the card nor encoded on the magnetic strip.
It is not 100% anonymous, however. You do have to show ID to obtain such a card in the first place, and you also have to comply with all regular know your customer and due diligence rules. There are also strict withdrawal limits. These restrictions are necessary to make sure the card issuing bank operates legally and to ensure that the cards are not abused by money launderers.
There is one very, very big advantage to the anonymous cash card. That is when you use it internationally, the transaction is processed only based on the card number. The card network operator does not know who you are. The due diligence information (like passport copy) that you have provided is stored safely offshore in the card issuer’s office, away from prying eyes and protected by strict banking privacy laws. This is in stark contrast to regular international debit cards which have names not just printed on the card but also embedded in the magnetic strip so the name can be captured electronically.
Another advantage of the anonymous cash card is that should it fall into the wrong hands, the loss is minimal. Without the PIN (which hopefully you have stored only in your head) the card is useless. There is no chance somebody could empty out your offshore account before you notice the card is missing. And, because it’s a stand-alone card, there is no chance that somebody could find out even the country, let alone the actual bank, where your principal offshore account is held. All you have to do is make one phone call and the card can be cancelled and replaced.
Finally, another advantage is legally avoiding reporting requirements. Anonymous cash cards do not class as a bank account. They are regarded as pre-paid products, something between the electronic equivalent of a traveller’s cheque and a pre-paid phone card. So if your country requires you to report offshore accounts, you don’t need necessarily need to report an offshore anonymous cash card. Note: this report is prepared for a global readership. Some countries may have differing rules in this regard. If you are not sure about the reporting requirements in your country of residence, please check with your local tax authorities or a professional qualified in your jurisdiction.
You might be wondering how, if the card is not linked to your principal bank account, you can withdraw money from it? Simple: it is a prepaid product. You prepay, by means of an offshore wire transfer, an amount you are likely need over the period you determine. You can keep these transfer amounts relatively low so they remain under the radar.
Pre-paid debit cards

Ultra-Private Prepaid Offshore Credit Cards

2010-06-28T13:22:00.000-07:00

Getting an offshore bank account is one thing, but having easy instant access to your offshore wealth can be another matter entirely. Many offshore accounts are opened remotely, and the majority of investors simply don't have the time or resources to visit a tax haven in person every time they need cash.

One of the best ways to overcome this problem, that is both timely and cost-effective is to use a prepaid offshore credit card. Handily, "ultra-private" prepaid cards are also some of the most discrete methods available of withdrawing cash and making purchases with your offshore funds.

Prepaid offshore credit cards come in various formats. But first, what is a prepaid offshore card?

An offshore credit card is nothing more than a card issued by a banking institution or card provider outside of your home jurisdiction. Investors frequently see offshore credit cards as a discrete and easy way of accessing their offshore stash. Therefore in many cases the issuing bank will be located in a country with strict bank secrecy.

A prepaid offshore card is an offshore credit card that is "loaded" up front with as much money as you want to put on it. Rather than offering a line of credit, the card is simply a way of making all the purchases you want to make without borrowing anything. It is a credit card, so-called, because the prepaid offshore card often carries a brand name like Mastercard, Visa or Discovery and is internationally accepted.

A prepaid credit card differs from an ATM card or simple bank card because you can use it for much more. You can make purchases online, at PoS and withdraw from cash machines. Withdrawal/purchase limits will vary from card to card

Prepaid cards are loaded by being individually funded. As such they are not intrinsically linked to any offshore bank account, like an offshore debit card. Prepaid cards are a more discrete option if privacy is your aim.

The most common type of prepaid offshore credit card will bear the holder's name. If you have a company you could also get one in your company's name. Ultra-private "un-embossed" cards exist which carry no name, although some are not accepted by individual merchants. They carry only the credit card number within the magnetic strip and chip, so when swiped none of your personal information is recorded. Click on the link at the bottom of the page for more information about offshore credit card privacy.

What ID do you need for a prepaid offshore credit card?

Just a scanned passport copy and a proof of residence are required by some issuers. Others may demand more detailed references or additional identification. Some prepaid cards with very low-limits can even be procured with no ID whatsoever. Fortunately, using a prepaid offshore credit card does not require any check of your credit history. Since the card is prepaid, you are not extended a credit line and therefore these checks are unnecessary. This makes prepaid cards a more private option than regular credit cards, since credit history checks are some of the greatest sources of confidential information leaks.
Offshore Pro Group

Offshore Banking Bahamas, International Investment, Offshore Credit Cards

2010-06-28T13:20:00.000-07:00

Bahamas is group of islands in the Atlantic Ocean near Florida with the capital Nassau and is one of the most popular, secure and successful offshore banking centers worldwide.
In addition to being one of the most attractive tourist destinations Bahamas has been a secure offshore banking center for several decades. Bahamas has been promoted as the best tax haven for offshore bank accounts, where flow of foreign exchange is free and deposits are not taxed. The legislation of offshore banking Bahamas allows establishment of international business companies and provision of offshore banking services for them. International investment in Bahamas has been very intensive and providing financial services to international business creates over 15% of GDP of Bahamas.
Offshore banking Bahamas brings a lot of convenience. Benefits offered by offshore banks are flexibility and easy accessibility of funds. Having a bank account at a bank in Bahamas does not mean that account owners have to travel there every time to make simple transaction like transferring money, withdrawing or depositing funds. First of all, offshore banking Bahamas offer offshore banking online – a convenient way to access personal or business accounts through Internet. Secondly they provide offshore debit and offshore credit cards to their clients that allow withdrawing and depositing funds through automated teller machines. In addition, important documents are mailed to the address specified by the client. Offshore bank account is managed in the similar way like an onshore bank account, only in this case, this is done Offshore Banking Bahamas through the Internet, mail, or phone instructions.
Bahamas bank accounts enjoy tax-free status and income is exempted from the taxes. In Bahamas, personal income is tax exempt, there is no capital gains tax, profit tax, sales tax, estate or inheritance tax. In addition no tax is levied on corporate dividends as well. Keeping money in offshore bank account places it out of reach of levies from law suits. This makes Bahamas very attractive for individuals and legal persons.
In general offshore banking institutions of Bahamas offer much lower service charges and much higher interest rates on deposits than banks in any other offshore jurisdictions. They also permit their customers to make transactions in world’s major currencies and be charged under considerably lower rates than onshore banks would have charged. Offshore bank accounts enjoy absolute freedom to transfer, deposit or spent available funds. Individuals and companies that require free environment Bahamas can be a perfect place to set up business entity.
Offshore Pro Group

US Bank Account as a Non-Resident - A Must to Make Money Online?

2010-06-25T09:33:00.000-07:00

Getting to grips with offshore banking

2010-06-25T09:22:00.000-07:00

You might already think that you know all you need to about private offshore banking, but if you’ve got a fair bit of capital to manage and could do with re-structuring your finances, then it is probably right up your alley.

Private Offshore Banking is designed to offer a personalised, tailor-made service which will optimise your existing assets, preserve your wealth and generally make your financial life a lot easier.

Offshore private banks cater for a wide variety of clients; from expatriates and international executives, to those looking to establish an effective way to transfer wealth to their heirs. It’s ideal for people looking to diversify their funds internationally while guarding against unnecessary taxes and minimising financial uncertainty, alongside those who need the flexibility and freedom of efficiently dealing in more than one currency.
The background

Historically, private Banking has tended to be seen as quite elitist, with certain institutions imposing stringent criteria when it comes to choosing their clientele. To some extent this is true and certain banks ask for a minimum deposit of around £500,000 – £1 million, but in recent years most banks have begun to offer similar services to customers with just a tenth of this kind of cash in their back pocket.

Private banks pride themselves on offering a diverse range of services to their clients including wealth management, savings, estate planning, trusts, and all kinds of tax planning. Private Offshore Banking means that you will benefit from all of these, alongside the assurance that your account will be based in a tax haven.

Similarly, if you wish to move a certain amount of money onshore, your personal relationship manager (RM) is already aware of your individual circumstances and can suggest the best way to mitigate against any unnecessary Capital Gains Tax (CGT).

One thing is for certain; private Banking means that there is no mis-selling and no fobbing you off with products that you don’t really need. RMs are there to help you structure your finances appropriately, and not simply earn commission based on the specific products you invest in. You also benefit from the close-knit support network surrounding each RM; if you are looking to invest in a fund, they will first consult an investment specialist to advise on the most appropriate decision for you.

Decisions, decisions…

If you’re set on the idea of channelling your fortune into an offshore private bank account, then the next question is which one to choose.
Looking for the ideal bank might seem like looking for a needle in a haystack, but if you are serious about your investments and have a large chunk of money to deposit, it’s worth familiarising yourself with the winners of Euromoney’s annual global private Banking awards.

The awards rank the best private banks according to their wealth management services, profitability, ratio of clients to relationship managers and services offered – so you know if it’s sitting pretty at the top of the list, as UBS was at the 2007 awards, then it offers a top notch, all round service.

General consensus is that the bigger the bank, the better your funds will be taken care of. This is to some degree rooted in truth considering an international financial institution with a steadfast reputation has an exceedingly slim chance of going bust, meaning your funds are in very safe hands. With this in mind, the best choice for most expats will probably be a global private bank with a well-established branch in your chosen jurisdiction.

The Isle of Man, Jersey and Guernsey all play host to a wealth of offshore private banks, although the stereotypical Swiss bank account still lives on. Switzerland currently controls an estimated 35 per cent of the world's private and institutional offshore funds, equating to a monetary value of 4.6 trillion Swiss francs or around £1.9 trillion.

Certain types of offshore account, such as the Dual Currency Deposit account offered by Royal Bank of Canada (RBC), will protect against currency fluctuations, allowing expats to deposit capital at a fixed exchange rate and, as long as the desired currency has not seen a marked depreciation in value, investors can then withdraw it at the agreed rate.

The inner workings

Offshore private Banking in the 21st century is regarded as more of a bespoke gateway into investment management rather than the traditional ‘family’ relationship built on generations of trust, however it undoubtedly still offers a highly personalised service.

As a result, relationship managers have assumed the position of objective Financial adviser and sounding board, rather than just the service provider. In addition, RMs will only work with a handful of other clients – lower net wealth individuals Banking with RBC will share theirs with an average of 50-60 others – meaning that you don’t end up getting a watered down service.
Individuals opening an offshore private bank account will not have to compromise on the usual, tangible benefits either. Offshore clients will be granted universally accepted debit and credit cards, cheque books in different currencies and global ATM access, as well as interest paid gross and favourable foreign exchange facilities.

What should I look for?

Moving from your comfort zone can be daunting so make sure you know what you want to achieve. Familiarise yourself with the average annual management fee, as well as the cost for any extras – remember that although extras are great, you shouldn’t skimp on the services you really need in order to obtain them.

If you are serious about investing, it will also be of benefit to find out how well equity managers have done over the past 5-10 years, alongside the range of bespoke services offered and how far the specific advisory services extend.
Offshore Pro Group

Hiding Money Offshore

2010-06-19T17:25:00.000-07:00

Hiding Money Offshore
You place your money with someone offshore. They declare that the money is theirs, and you deny that the money is yours. The money then grows tax-free, and your creditors can’t get it since you will deny that it exists.
The Problems
Whoever you’ve given your money disappears with it, or will not give it back, and you can’t go to the authorities for fear of revealing that you have committed tax evasion.
Whoever you’ve given your money to not only keeps your money, but actually extorts additional money out of you, which you pay so that they don’t reveal that you have committed tax evasion.
Frequency
This happens ALL THE TIME. Every day some sucker gets off his or her cruise liner at some offshore centre, walks over to the nearest offshore service provider and says "I want a trust and a secret bank account" and then hands them the money. And, about once a month, a publication such as Offshore Alert or a scam site somewhere will run a story about how an offshore service provider disappeared with their clients' money.
We wish we could find a statistical breakdown of how much money disappears by the process, but I can't because the inherently secretive nature of these transactions means that there is no reporting upon which such statistics could be based. However, we estimate that worldwide it is easily in excess of US$100 million annually, and perhaps much more.
Commentary
It is easy to get sucked in by offshore service providers (after all, the major offshore banks encourage you to have secret accounts) because there is a "Hide the Money" atmosphere offshore. They will show you the laws of the offshore jurisdiction (which, after all, are structured just for this very purpose) and tell you that there is "no way" that the Revenuers could ever find out what you have done.
The rub is, however, that for this to work you can’t declare that you have an interest in the account or report any interest earned on the account. This means that you are committing tax evasion -- a very serious crime. This means that if the offshore service provider simply keeps your money and refuses to give it back, you are pretty much screwed. You can’t go to your government to complain, and the government of the country where you placed your money will probably protect the offshore service provider more than you (after all, it is bad business if it admits that an offshore service provider was embezzling money). So, you’re just screwed -- and worse the offshore service provider might start embezzling even more money out of you by telling you that they will turn you in (and send you to prison and ruin your life) if you don’t cooperate.
Solution
The solution is to JUST DON’T DO IT. Don’t ever trust your money to anybody but yourself, or a well-regulated bank or trust company. And don’t try to hide your money from the IRS -- life is too short for the grief of worrying about this. Structure your affairs so that you can disclaim the money when creditors come knocking, but if you really own it report it to the IRS and pay your taxes on it (there are a variety of ways that you can legally declare it to the IRS while at the same time innoculating it from creditors, such as by forming an offshore limited partnership) and then keep it in a respected and regulated offshore bank or trust company.
Because if you hide the money, the next most likely thing to happen is that your money will then be hidden from you.
Report of Foreign Bank and Financial Accounts
If you own a foreign bank account, stock account, mutual fund, unit trust, or other financial account, then you may be required to file a Treasury Department Form 90-22.1, which provides in part as follows:
This form should be used to report financial interest in or signature authority or other authority over one or more bank accounts, securities accounts, or other financial accounts in foreign countries as required by the Department of the Treasury Regulations (31 CFR 103). You are not required to file a report if the aggregate value of the accounts did not exceed $10,000. SEE INSTRUCTIONS ON BACK FOR DEFINITIONS. File this form with Dept. of the Treasury, P.O. Box 32621, Detroit, MI 48232
* * *
INSTRUCTIONS
A. Who Must File a Report -- Each United States person who has a financial interest in or signature authority or other authority over a bank, securities, or other financial accounts in a foreign country, which exceeds $10,000 in aggregate value at any time during the calendar year, must report that relationship each calendar year by filing TD F 90-22.1 with the Department of the Treasury on or before June 30, of the succeeding year.
* * *
B. United States Person -- The term "United States person" means (1) a citizen or resident of the United States, (2) a domestic partnership, (3) a domestic corporation, or (4) a domestic estate or trust.
D. Account in a Foreign Country -- A "foreign country" includes all geographical areas located outside the United States, Guam, Puerto Rico, and the Virgin Islands.
* * *
F. Bank, Financial Account -- The term "bank account" means a savings, demand, checking, deposit, loan or any other account maintained with a financial institution or other person engaged in the business of banking. It includes certificates of deposit.
The term "securities account" means an account maintained with a financial institution or other person who buys, sells, holds, or trades stock or other securities for the benefit of another.
The term "other financial account" means any other account maintained with a financial institution or other person who accepts deposits, exchanges or transmits funds, or acts as a broker or dealer for future transactions in any commodity on (or subject to the rules of) a commodity exchange or association.
G. Financial Interest -- A financial interest in a bank, securities, or other financial account in a foreign country means an interest described in either of the following two paragraphs:
(1) A United States person has a financial interest in each account for which such person is the owner of records or has legal title, whether the account is maintained for his or her own benefit or for the benefit of other including non-United States persons. If an account is maintained in the name of two persons jointly, or if several persons each own a partial interest in an account, each of those United States persons has a financial interest in that account.
(2) A United States person has a financial interest in each bank, securities, or other financial account in a foreign country for which the owner of record or holder of legal title is: (a) a person acting as an agent, nominee, attorney, or in some other capacity on behalf of the U.S. person; (b) a corporation in which the United States person owns directly or indirectly more than 50 percent of the total value of shares of stock; (c) a partnership in which the United States person owns an interest in more than 50 percent of the profits (distributive share of income); or (d) a trust in which the United States person either has a present beneficial interest in more than 50 percent of the assets or from which such person receives more than 50 percent of the current income.
H. Signature or Other Authority Over an Account --
Signature Authority -- A person has signature authority over an account if such person can control the disposition of money or other property in it by delivery of a document containing his or her signature (or his or her signature and that of one or more other persons) to the bank or other person with whom the account is maintained.
Other authority -- exists in a person who can exercise comparable power over an account by direct communication to the bank or other person with whom the account is maintained, either orally or by some other means.
I. Account Valuation -- For items 7, 9, [of the form] and Instruction A, the maximum value of an account is the largest amount of currency and non-monetary assets that appear on any quarterly or more frequent account statement issued for the applicable year. If periodic statements are not so issued, the maximum account asset value is the largest amount of currency and non-monetary assets in the account at any time during the year.
* * *
O. Penalties -- For criminal penalties for failure to file a report, supply information, and for filing a false or fraudulent report see 31 U.S.C. 5322(a), 31 U.S.C. 5322(b), and 18 U.S.C. 1001.
Would this include a debit card? Yes! -- Many offshore service providers will tell you that they will own the account, but you will get a debit card to use, and the debit card does not trigger the filing of the TD F 90-22.1. This is completely false, as a debit card clearly constitutes authority over the account. Use of a debt card for an unreported account over $10,000 is tax evasion.
Will the filing of this form cause me to get hung up in Customs or audited? This is a stupid question, if you think about it. The Treasury Department is looking for people who don't file the form, not those who have filed it. If you shuffle tens of thousands of dollars in and out of the country by wire-transfer every year and then don't file the TD F 90-22.1, you can pretty much count on being audited and then forever hung up in Customs.
Offshore Pro Group

Offshore Pitfalls

2010-06-19T17:22:00.000-07:00

Offshore Pitfalls

Restructuring your finances offshore is an important step towards personal liberty and financial privacy. However, it is of utmost importance that you do your due diligence prior to sending your hard earned money offshore. Unfortunately, the offshore legal and financial world is full of shady banks, trust companies, law firms, and a wide host of unscrupulous financial consultants that are foaming at the mouth to scam you from your life savings. By following our 7 cardinal rules of offshore, you should be able to stay out of trouble.

Seven Cardinal Rules of Offshore

Rule # 1: Don't put all of your eggs in one basket. When going offshore for the first time, be cautious and initially transfer only a small portion of your overall wealth. If that small portion amounts to a sizeable sum of money, then open a few accounts at separate banks or brokerage firms, to diversify among several financial institutions.

Rule # 2: Don't put your money in Offshore Trust Companies. Today's offshore trust companies offer essentially the same services as banks - some even provide you with debit cards, checkbooks, internet access and investment trading. However, trust companies are not banks! In most reputable offshore jurisdictions, banks are regulated by a specific banking authority established for the purpose of monitoring and regulating banks credit policies, investments, liquidity, etc. Offshore trust companies are not regulated the way banks are, so they basically have a license to steal! Essentially, when you put your money into a trust company, you are signing away your rights to your own money. If the trust company goes bankrupt, you can kiss your hard earned money goodbye.

Rule # 3: Don't put your money in jurisdictions where banking laws are not enforced. When selecting an offshore bank, it is important that the bank be located in a jurisdiction where the government has good banking laws in place, and they are enforced by a competent authority. Otherwise, the bank will have the freedom to embezzle all of the depositors funds and get away with it. Panama and Switzerland, for example, have excellent banking laws, and competent authorities that enforce those laws. However, there are a handful of other jurisdictions that we cannot say the same for.

Rule # 4: Don't put your money in extremely small private banks. In many offshore jurisdictions, one can obtain an offshore banking license for as little as US$100,000, including capitalization. There are dozens of small start-up offshore internet banks offering their services on the web - stay away from them! Make sure that the bank has been around for at least 5 years, and the bank holds deposits of at least US$300 million. Be sure to ask who the banks independent auditors are, and make sure they are reputable. Also, every reputable bank publicly provides published consolidated financial statements - ask for them to verify the banks financial stability.

Rule # 5: Don't allow lawyers, consultants, or nominee directors to sign on your accounts. When opening offshore accounts, it is important to have complete signatory control, or to only allow TRUSTED individuals to sign on your accounts. Many offshore firms secretly appoint their nominee directors as signatories when they assist you in opening your corporate accounts, which enables them to deduct their annual fees, management fees, etc. Beware, because most of them will also throw in a secret " annual account management fee", which is normally about 3% or more of your funds! Ask for full disclosure of fees prior to establishing your offshore structure and/or accounts. If you want the extra privacy of having a lawyer, consultant, or nominee sign on your account, be sure there is a signed account management agreement or fiduciary agreement to document the responsibilities of each party.

Rule # 6: Always ask for references. When dealing with law firms, financial consultants, or any other offshore organization, be sure to ask for professional commercial references, and verify them. If their references are not known, reputable organizations, then they are not worth considering as references. You must be 100% confident that your law firm or financial consultant is reputable, otherwise, they can potentially perpetrate your financial accounts after you have funded them.

Rule # 7: Take caution in using your offshore accounts. It is important to use caution, and basic common sense when using your offshore accounts. Think of your offshore accounts as a "nest egg" for that rainy day - as a back up in case you get sued or divorced, etc.. Don't use your offshore accounts as you do your personal domestic accounts. For example, don't use your offshore debit card or checkbook to pay your personal bills (phone, cable, electric, etc.).
Offshore Pro Group

Complete Panama Offshore Structure

2010-06-18T04:29:00.000-07:00

Complete Panama Offshore Structure

The complete Panama offshore structure that we generally recommend to our clients is a dual entity structure consisting of a Panama Private Interest Foundation holding ownership of a Panama International Business Corporation.

We recommend the dual entity structure because it provides the utmost in asset protection, anonymity, privacy, and convenience. The Panama corporation holds all major assets, such as commercial businesses, real estate, intellectual property, etc. and the Panama private interest foundation acts as a holding company to the Panama corporation, receiving profits into the Panama bank accounts and Panama brokerage accounts of the Panama foundation.

To understand the entire role of the Panama private interest foundation within this structure, you first have to understand the composition of the private interest foundation. The private interest foundation has four main members:

Founder: The founder is the person or entity that forms the private interest foundation in the public registry of Panama. Unless you wish to be appointed as the publicly registered founder, our firm generally provides a nominee founder, and provides you with a pre-signed, undated letter of resignation from the founder immediately upon incorporation of the foundation.

Foundation Council: The council serves the same function to the private interest foundation as directors do to a corporation. The council's names and passport numbers are registered in the public registry when the foundation is incorporated. Unless you wish to be appointed on the publicly registered council, we generally provide a nominee council, and provide pre-signed, undated letters of resignation from the nominee council.

Protector: The Protector is the ultimate controller of the Panama foundation. Immediately upon incorporation of the foundation, the council appoints a Protector, through a notarized Private Protectorate Document. Since the document is a private, not publicly registered document, the Protector remains 100% anonymous. From that point on, the Protector has full control over the foundation and all of its assets. The Protector generally signs and controls all offshore bank accounts that are in the name of the Panama Foundation.

Beneficiaries: The Beneficiaries are appointed through a Private Letter of Wishes, which is written by the Protector. The letter of wishes is a private document, so the beneficiaries remain 100% anonymous. The letter of wishes can be changed or modified at any time by the Protector only. The letter of wishes is essentially the same as a living will of the Panama Foundation, which generally explains who the beneficiaries are, what the assets include, and how the assets are to be distributed to the beneficiaries and upon what triggering event (such as the death or incapacity of the Protector).

The Panama Private Interest Foundation is established to serve five primary purposes:

1. Provides you with Anonymity by serving as a holding entity for your offshore Panama Corporation: Using the Private Interest Foundation, you can avoid the use of corporation bearer shares and/or corporations shares that are issued to your personal name. The Private interest Foundation can be named as the share holder on the share certificates of one or more offshore corporations. You control the foundation anonymously through a Private Protectorate role. As Protector, you appoint the beneficiaries through a private letter of wishes (or a more formal set of foundation By-Laws). Since both the Protector and the Beneficiaries are both appointed through non-public (private) documents, they remain 100% anonymous and confidential.

2. Serves as an asset protection vehicle to protect your assets to the fullest extent of the law: Under the Panamanian foundation law, the Panama Foundations assets are "non-embargable", and "non-sequesterable", meaning that no one may freeze the assets, or place liens on the assets under any circumstances, which makes the Panama Foundation the ultimate offshore asset protection vehicle.

3. Serves as beneficial owner to your offshore corporation when opening offshore bank accounts: Today, due to the global scare of terrorism, etc. most offshore tax haven jurisdictions have implemented laws that require their banks to obtain "declarations of beneficial ownership" when establishing corporate offshore bank accounts. Keep in mind that in most offshore jurisdictions, such as Panama, the banks are required to maintain this information under strict confidentiality under the bank secrecy laws that are strictly enforced. However, if you do not wish to declare yourself personally as the beneficial owner when applying for your corporate offshore bank accounts, the foundation can serve as the beneficial owner / shareholder for the corporation.

4. Serve as a testamentary vehicle for distribution of your assets to your heirs: The Panama Private Interest Foundation is specifically designed to cherish, protect, and distribute your assets to your beneficiaries upon a triggering event, such as your death or incapacity. Your Panama foundations letter of wishes, written by the Protector, will serve as its "living will", detailing the foundations assets, list of beneficiaries, and how and when those assets are to be distributed to the beneficiaries. Under Panama laws, through the Panama Private Interest Foundation your heirs can receive their inheritance free of probate, gift taxes, estate taxes, inheritance taxes, or legal delays.

5. Serve as a vehicle to facilitate the transference of funds offshore: The Private Interest Foundation may receive private donations, and it may give donations/grants, etc. to anyone you choose. Hence, you can privately donate your funds to the Panama Private interest Foundation. In turn, the Private Interest foundation can provide educational grants, charitable donations, etc. to anyone you choose. Please note, however, that the Panama Private Interest Foundation may not publicly solicit donations.

Our Complete Panama Offshore Structure Package, for only US$3,050 includes the following:

1. Panama Private Interest Foundation, complete with;

Original Private Interest Foundation Charter in Spanish, registered in the public registry.
Official English translation of the Private Interest Foundation Charter.
Nominee Foundation Council (optional) with pre-signed, undated letters of resignation, notarized.
Private Protectorate Document, notarized.
General Power of Attorney, with notary and apostil seal.
Foundation Letter of Wishes (draft sample provided for you to complete).
Corporate offshore brokerage account, with optional Debit Card, and Internet access.
Corporate Franchise Taxes Paid for first year.
2. Panama International Business Corporation, complete with;

Original Articles of Incorporation in Spanish, registered in the public registry.
Official English translation of the Articles of Incorporation.
Nominee Directors (optional) with pre-signed, undated letters of resignation, notarized.
First meeting of the board of directors, whereby the nominee subscribers renounce their rights to one share each, and 100% of the company shares are issued.
Company Share Certificate issued to the name of your foundation.
General Power of Attorney, with notary and apostil seal.
Corporate brokerage account, with optional Debit Card, and Internet access.
Corporate offshore brokerage account, with optional Debit Card, and Internet access.
Corporate Franchise Taxes paid for first year.
3. Panama Corporate Bank Account (in the name of either your Panama corporation or Panama Private Interest foundation):

Established through any of our correspondent banks in Panama, Andorra, Liechtenstein, Switzerland, Antigua, Belize, Latvia or St. Vincent.
Optional Offshore Debit cards are available.
Optional Secured Offshore Credit Cards are available.
Online offshore banking is available.
Multi currency offshore accounts are available.
4. General Manager Contract:

Contract between yourself and your corporation (or foundation), documenting your role as General Manager (not a director, just a manager). Enables you to receive a salary and/or commissions from offshore, and justifies your income. Justify yourself as signatory on the company (or foundation) accounts, as well as using the company debit card and/or checkbook for business expenses, travel, etc.

5. Mail Forwarding Service, includes:

Corporate Post Office (P.O.) Box in Panama to receive post mail for your Panama corporation & Panama foundation.
Physical address in Panama to receive courier packages for your Panama corporation & Panama foundation.
Forwarding service via post mail, courier, fax, or scanned email attachment.
6. Courier Included: Documents are shipped by 3 day courier service (FedEx, DHL, UPS, or TNT).

To summarize, for only US$3,050 you are receiving all of the following!

Panama Foundation (With First Year's Annual Corporate Franchise Taxes Paid)
Panama Corporation (With First Year's Annual Corporate Franchise Taxes Paid)
2 Corporate Offshore Brokerage Accounts
1 Corporate Offshore Bank Account
General Manager Agreement
Mail Forwarding Service
Delivery of Documents via 3 Day Courier Service
Offshore Pro Group

Manage your Credit Card Accounts Online, as well as your Banking

2010-06-18T04:05:00.000-07:00

The internet has certainly revolutionised the way that we conduct our day-to-day banking. Although still available as options at most high street banks, it is now no longer necessary to queue in your local branch or pick up the telephone, as our banking can all be done with the click of a mouse, or even more so these days by the tap of a touch screen.

Indeed, now that the internet is available on so many different platforms and devices, including smart phones and over 3G, it is now possible to access you bank account details in just about any location. For those with internet browsing facilities on their mobile phones, the ability to bank online is only limited by the availability of their mobile operator's signal.

Mobile broadband has also made internet banking even more convenient. Simply plug the dongle, into your laptop wherever you are, and you can have instant access to online banking! So, if you choose to do it half-way up at a mountain at 3.00 a.m. in the morning then you can, providing there is a 3G signal.

Most banks offer the majority, if not all the facilities online that can performed in person in the branch or over the telephone such as setting up direct debits, standing orders, checking balances, transferring money between accounts and even applying for overdraft facilities.

But, it's not just current account banking that can be done over the internet, but credit card accounts can also be maintained online, either through your bank or via your credit card company. Indeed, many financial institutions now offer the option to go 'paperless' and rather than despatched by post they are sent via email. If that facility is not available, then most offer the option to view your statements online as well as details of any transactions incurred since your last credit card statement was produced.

With the threat of strike action causing postal disruption throughout summer 2009, the option to review statements online will ensure that you don't incur late payment charges as a result of the non-arrival of your paper statement.

Using the internet to access your credit card account also allows you to request a change to your credit limit, the ability to quickly and conveniently perform balance transfers and the option to make additional payments to your account.

Online operation of a credit card account, just like with bank accounts, certainly makes life easier for people who never seem to have enough hours in the day to get to the bank or phone their credit card company.
Offshore Pro Group

Retail Store Credit Card Traps to AvoidAlmost everyone likes to do retail shopping, and it is especially fun when stores are offering sales and discou

2010-06-15T13:35:00.001-07:00

Almost everyone likes to do retail shopping, and it is especially fun when stores are offering sales and discounts. But there are lots of times when it is better to ignore the retail store credit card offers, despite the allure of getting a discount on your first purchase at the cash register, and instead stick with paying by cash or with your regular go-to credit card. For starters, there are really no additional benefits that come to you for owning a retail chain’s credit card – except for occasional discounts on purchases or special offers. If you get a card for a clothing store in the mall, for example, you cannot use it to pay for a hotel room, a meal in a restaurant, or your purchases at stores in the mall that are not owned by the same identical company. You might be able to use your Gap card at Banana Republic because they are both owned by the same conglomerate corporation, for instance, but if you try to use that Gap card to pay for groceries or rent a car you won’t get very far. That’s because these in-store cards are not affiliated with major card companies like Visa, MasterCard, or American Express. They aren’t tied into the banking ATM system, either, so they will never offer the kinds of flexibility and convenience that comes from carrying a conventional credit card.

Then there is the issue of your FICO score and credit history. Although store charge cards don’t offer the perks of a Visa or MasterCard, they do report to credit rating agencies. So while you might get an instant 10 percent discount on your purchase at a retail store because you applied for their credit card, you might also lose 10 percent of your all-important credit rating because it will show up on your FICO report that you have an additional source of potential debt – namely a new credit card. Each time your credit score is accessed as part of a credit card application, you also take a hit on your credit score. So applying for 2-3 retail store cards during a shopping spree could really torpedo your overall credit score and then make it hard for you to buy a car, get a mortgage, or apply for a traditional credit card.

The interest rates charged on most retail store cards are really high compared with regular credit cards, too, so if you use your card and then carry a balance, you will instantly give back a portion of that savings you enjoyed by getting a store discount when you applied for your card. Let’s say, for example, that you buy a $200 wardrobe and get a 10 percent discount. You save $20 right off the bat. But if the interest rate is 20 percent and you carry a balance, you’ll wind up paying at least $40 a year just in interest. So if you carry the balance and pay it back over a period of three or four months you might also pay $10 or $12 in interest – so you really only saved $8 or $10 at the cash register. Keep using your card and charging new purchases while carrying a balance, and you can wind up forking over a ridiculous amount of money in interest payments. Let’s say you keep a running balance of $500, for instance, at 20 percent interest. That’s going to cost you around $100 a year – which can buy a lot of clothes at a seasonal sales event. If you happen to make a late payment, you’ll get hit with penalties and a much higher permanent interest rate, so you’ll totally wreck any plans to save money and will wind up paying so much more for those store purchases than you ever anticipated doing.

When it does make sense to use a store credit card is when you are a frequent customer and you also never carry a balance but pay off whatever you owe as soon as your store charge card bill arrives. Then you might save money on shipping if you shop online – because some stores offer free shipping to those who use their retail charge card – and you might get some special member or VIP discounts now and then.

But for most consumers – even if you are a frequent shopper at a particular store or chain – a standard credit card usually makes more sense. You can get a rewards card that offers you cash back or rebates, for example, so that instead of waiting around for a retail store discount you can accrue some incremental discounts all the time – on all of your purchases.
Offshore Pro Group

Government takes aim at "excessive" credit card rates

2010-06-15T13:34:00.000-07:00

The government plans to give financial regulators more power to define and ban "excessive" interest rates for credit and store cards as part of its strategy to improve consumer protection in the UK.

In their programme for the next five years, the Conservatives and the Liberal Democrats also said that they oblige credit card firms to provide information to customers in a "uniform electronic format" that will make it easier for borrowers to find out if they are getting the best deal.

Furthermore, the coalition plans to introduce a seven-day "cooling-off period" for store cards.

Other measures in the government's plans include ending "unfair" bank charges and fees for certain financial transactions.

Commenting on the plans, moneysupermarket.com head of banking Kevin Mountford said that while it is good to see the coalition "nail its colours to the mast" regarding consumer protection, its focus for credit card rates should be on improving transparency, rather than capping charges.

"Inevitably, if the banks' bottom line is affected they will find other ways to recoup lost revenue so that consumers will end up paying in another area," he added.

Total consumer credit lending, which includes personal loans and credit cards, stood at £222 billion in March, according to Credit Action.
Offshore Pro Group

Reloadable Debit ATM Card – The Card with Money Power

2010-06-13T14:19:00.000-07:00

Reloadable Debit ATM Card – The Card with Money Power

If you were planning to go on a tour, then the best mode carrying your money would be the Reloadable Debit ATM cash Card. With this card one can access their money from any ATM around the world. There is no need of exchanging money in the foreign country.

In fact this is one of the best modes of transferring money to someone overseas from the convenience of your home. It is also good for having money in a foreign country without the hassle of exchanging the money. One gets complete security and safety in the usage of the money. The card does not contain any name of the owner. There is only a number to be seen on it. The card expires after a period of two years after its issue. Anyone can apply for the card, without regards to nationality, credit history or country or residence.

This prepaid card provides "stored value" in which you can store money in an account. You can access it with your card at any of the ATM machine.

The Card is issued by a Caribbean bank. There is option to fund directly of 2.00% through wire transfers and Western Union only. One can feel safe and secure that all the ATM card transaction could be traced irrespective of the card being linked to any account directly. As there is no name printed on the card, the privacy of the card is all the more secured.

In spite of many cards with different usage, all the cards functions in the same way. Employers will find the card a useful way to transfer the salary of their employees. One can also send a card to someone as a gift. A great utility of the card is to send money to relatives overseas. The insurance companies can use the card to pay claims. There are many more uses of the card.

It needs mentioning that ATM Card is more secure that cash. One can get replacement of their card is stolen, which is not the case with cash. It is beyond the capacity of somebody to steal your cash without knowing your pin. As ATM Travel card can be used globally, there is no worry to exchange your money as you go to other countries. Offshore Pro Group

Private Offshore Debit Card Basics

2010-06-13T14:18:00.000-07:00

The increasing danger of personal bank accounts being more and more prone to bureaucratic invasions of privacy has lead people to search for ways how to keep their bank accounts secret. As more and more people learn to maximize their creativity and resources thus letting them earn money out of their normal system the government is coming up with more and more ways to track the money made from these activities. And so there are now fewer and fewer ways to place money safely out of the reach of the government, which is the most eager to get a hold of it.

Private offshore debit cards have become the best way to enhance one's privacy over his finances. With offshore bank accounts that are fully anonymous to the government, the offshore debit cardholders are given unlimited control and freedom of their hard earned money. With the great boom and growth in the offshore bank account industry fees for such accounts and their related offshore debit cards have become very cheap and now anyone can afford them. The reduction of the tax load brought about by keeping money offshore alone is enough reason to get an offshore debit card.

Introduction to Private Offshore Debit Card
The private offshore debit card is a financial instrument that can be used to withdraw funds the cardholder have deposited on his card provider's affiliate offshore bank. An offshore debit card does not require any credit checks so everyone is eligible to have them. The card can be used in almost any ATM around the world. The card also provides the advantage of being able to draw funds in foreign currency, very convenient for those who are traveling abroad.

Using an offshore debit card is safer than carrying cash and more convenient than using personal checks. The card can be used to withdraw cash or pay merchants at millions of locations all around the world. The offshore debit card can be issued in a corporate name or in the name of the provider to keep the holder's financial identity strictly private.

Clarifications on Offshore Debit Card Basics
1. Traditional Credit Card
The old fashioned credit card allows the holder to buy on credit and pay the balance at a later time to the credit card company. The cardholder thus spends money he currently does not have and pays later, with interests of course.

2. Debit Card
The debit card does not allow credit spending as it only allows the holder to spend the cash he has in his bank account. The debit card is directly linked to the holder's personal savings or checking account also referred to as the primary account. All charges the holder incurs are debited to the primary account, and there are no huge monthly charges. The same account may have a checkbook tied to it as well.

3. Secured Credit Card
The secured credit card contains two accounts: a frozen bank account with the funds which act as a guarantee for the card - and the actual credit card account. Statements are mailed only in the months when something is charged to the account, unless the balance for the preceding month has yet to be paid off in full. And you are obliged to make a minimum monthly payment of 10% of the outstanding balance within a couple of weeks from receiving your statement.

Some Uses of a Private Offshore Debit Card
1. Spend your offshore funds while travelling, give supplementary cards to your family or even to people you don't want your family to know about.

2. Helps prevent your movements from being tracked by Big Brother. Although we might try to use cash, it is almost impossible to check into a good hotel or rent a car without a major credit card or offshore debit card.

3. A confidential card to match your second passport, as part of an overall privacy strategy
4. Pay for an alternative internet connection, or buy services over the Internet.
Offshore Pro Group

Getting a Secret Offshore Bank Card

2010-06-12T12:12:00.001-07:00

The easiest and most cost-effective way of withdrawing funds from your secret offshore account will almost certainly be through the use of an offshore bank card.

Used in the right way, offshore bank cards

can execute financial transactions that leave almost no trace of your identity, but, generally speaking, the larger the transaction the harder it is to keep secret.

The cheapest card you might get can be a gift card, which is paid for upfront. You may be able to load up to 1000USD on to each gift card you purchase without having to identify yourself. Other specialist "card providers" can provide a similar service. You can purchase one of these by wiring funds from your offshore account to a specialist card-loading account, and then have your card sent via mail. Then again there are "virtual cards", so-called because you possess only the number rather than a physical card. These can be very secretive, but are not suitable for day-to-day use.

Brand-name debit and credit cards like Visa and MasterCard will always require identification, at the very least a notarized passport copy and utility bill. It is still possible however, to effectively shield your financial transactions from the great majority of "outsiders".

One of the most common ways is to get a card in the name of your offshore company. In this way your company name will appear on the card, your company name is registered when the card is swiped or the chip is read, and your company name will appear on all receipts. If this company is located in a tax haven with strong bank secrecy, and company records like the names of directors are hard to access, it will be extremely difficult for an outsider to pierce the "corporate veil", and identify the flesh and blood person behind the transaction.

Using a brand name card is often preferential to gift cards, or simple cash cards because it has a much wider reach. From personal experience I have had "bank cards" issued by the local branch of a an international bank in a low-tax jurisdiction, which did not work at any ATM outside the country where they were issued. Even worse, I could not access my money from international bank's branch in a different country, no matter what ID I supplied. Funds were essentially "landlocked".

By contrast, a brand-name card like Visa or MasterCard will allow you to access your funds from anywhere in the world. Since the card providers know who you are, you lose confidentiality using these cards at home.

But for day-to-day purchases on vacation, online purchases into thousands of dollars, their ease-of-use and high-limits, brand name cards are easier. Furthermore you can be sure that it will work wherever you go, and you can be sure of cash in an emergency.
Offshore Pro Group

Top 5 Offshore Credit Card Mistakes

2010-06-12T12:10:00.000-07:00

Everyone knows how hard it is to get a functional offshore credit card that's also half-way private.

It's not your fault.

Legislation like the patriot act makes it intentionally difficult for anyone to be secretive, regardless of whether the activity is illegal or not. Of all offshore transactions, an incredibly small number are illegal, yet offshore banking and the desire for privacy are routinely censured and dumped into the same basket as money-laundering.

Getting your offshore credit card or offshore debit card can be as easy or as difficult as you wish to make it. Fortunately, by the end of this article you will be much better prepared for the journey ahead.

If you are looking for privacy, ease-of-use and a card that actually works, avoid these 5 offshore credit card mistakes.

1) Getting a card that's issued in the wrong country. Its all well and good getting an ''offshore credit card'' from an offshore bank. But where is the card actually issued? If it's in a jurisdiction which has information exchange treaties with your home country, this is not a good idea. The best countries for card issue will be those with strong bank secrecy, good banking and little connection to your domicile.

2) Using your card at home. If the whole point of purchasing your offshore credit card is to prevent 3rd parties from discovering who you are, don't use your card at home. You may have the most high-tech anonymous unembossed card available, but that won't stop individual retailers or the cameras at an atm from recording you.

3) Cards with limited usability. Offshore credit cards issued by an offshore bank in a blacklisted jurisdiction may offer little functionality. Maybe it will be difficult for you to fund your card account because of the tax haven's reputation, or even worse your transactions may be automatically flagged as suspicious. Then again, some bank cards

issued out of tax havens with undeveloped banking may not even work internationally.

4) Cards issued in your own name. If privacy is not a great issue, then a card that bears your own name will not represent much problem. But I would guess that for the majority of those reading this article, confidentiality is key. In this case, the best type of card will be that issued in the name of an offshore company, or one that bears no-name at all. The advantage of the company card is that transactions made with it are company transactions, more so if you are not a beneficial owner or director of the offshore company. A no-name or ''unembossed'' card offers the advantage of not revealing anything more than a card number when swiped. Your financial identity remains secret.

5) Cards with low transaction limits. If there's any advice you can take away from this article it is ''read the small print''. So you pay several hundred dollars for a credit card thinking that it will be possible to buy your dream automobile or yacht with your shiny new plastic, but then you find out the purchase limits are tiny or the card loading and ATM fees are phenomenal. If this is the case, you may begin to wonder if it was worthwhile getting an offshore credit card in the first place. Ensure that the credit card has decent purchase limits, that you can use it online, in shops, restaurants and gas stations, and that almost any ATM worldwide will accept it. The best way to achieve this is to get a brand name bank card like an offshore visa or offshore MasterCard.

Perhaps after reading this, you may have decided that getting an offshore credit card isn't right for you. But if you do decide to get your card, you can now enter into a discussion with offshore service providers and other vendors with greater confidence, and knowledge of what seperates a card of true value from a rip-off.
Offshore Pro Group

Using a Prepaid Debit Card to Manage Your Money

2010-06-10T15:12:00.000-07:00

Have you been refused a credit card or bank account due to a poor credit history? If so, a prepaid debit card could be a solution.

A prepaid card looks like a credit or debit card (ie it is plastic and therefore can be sued for online and telephone purchases as well as in shops and at ATMs etc that accept the card brand). But the difference is that you can only spend what it on the card. This amount will be pre-loaded on to it and once that amount is gone, you then have to top it up again before it can be used.

Given that the prepaid card companies do not lend you money (because you can only spend funds that you have loaded yourself), no credit checks are usually necessary. However, most card providers will carry out an online electronic identity verification process.

Some prepaid cards may also offer an e-bank account, which could be a convenient place for you to have your wages and other funds paid in. This package potentially gives you greater control over your money.

So how can a prepaid card help you manage your money? Here are some ideas:

there is no temptation to overspend. In fact, overspending is impossible because when your money runs out, the card will simply not be accepted until you pay some more money on to it;
there are no late charges. Because the money that you spend is loaded onto the card upfront, there are no repayments to forget, so there is no risk of incurring late charges;
there is no interest. With credit cards, as long as you have an outstanding balance, interest will be racking up on that amount. With pre pay cards there are charges for certain services (eg SMS balance alerts), but these are usually not cumulative in the same way that interest charges are;
you can use different cards for a different purposes. Some people may have a prepaid card for food, another for bills and another for treats and so on. That way, they can distribute their money according to their budget on pay day. Once the treat and food funds are used up on their respective cards, that's it until the next payday;
you can manage your account online - many prepaid debit card providers allow you to keep track of your account online. Not only can you accept electronic funds transfers, but you can also see what you have spent and what you have left; and
if you elect to receive notification of every transaction on your prepaid debit card - which is available from prep pay card service providers - you can keep track of what you have spent as you go along.
Offshore Pro Group

Fundamentals on Prepaid Debit card

2010-06-10T15:11:00.000-07:00

Are you looking to study the fundamentals of the field of prepaid debit card? What you are about to read is set forth plainly, specifically designed for the readers who are attracted to the gist.

Individuals get cards for numerous uses. There are lots of uses for debit card, so practically everyone has some form of plastic money. Some send in a card application since it is a very easy and practical means of shopping for goods whenever they so desire -- and that includes times when they`re not carrying hard cash. Other potential cardholders submit an application for credit credit card online simply because of the card rewards they obtain when they charge goods or services.

Certain other individuals will be interested in getting online securedcredit card because of the much-flaunted and highly alluring perks by a certain card issuer, aside from better customer support and really good plans. There are also folks who obtain online secured credit cards for the reason that any merchandise they purchase will have protection from the card provider. This is generally true if you`ve had some sort of trouble with the product / service you have bought using the card, and the card company will probably pay for the financial loss you incurred by reimbursing the relevant credited value.

Many people acquire chargecards on line since it is the easiest way to pay when they purchase goods or services at an online store. For some people, buying goods and services from the privacy of their home or offices is the easiest mode to buy goods or services, and more so for individuals who haven`t found the time or opportunity for driving down to the shopping complex. Web-based shops characteristically charge their clients by means of charge creditcards on line. Several others possess on line credit card so that they can fall back on it whenever they need money urgently. Almost everyone experiences emergencies when there`s no ready money available, because of which it becomes a real problem for them to manage the crisis. online securedcards can come to their rescue in such circumstances, which makes it another example of the assistance plastic could proffer. Some people apply for online cardscredit only - or largely -- as a means to establish a credit record they will be able to use in prospective borrowings or other credit dealings with banking establishments and other financing houses.

And, in the final category, there are folks who possess securedcreditcards online because of the freedom from burden and responsibility one has when not lugging around stacks of banknotes, since walking around with a wad of cash is quite worrisome at times. In the final analysis, cash in a stolen wallet could be gone without any hope of recovery, but a misplaced plastic card on line just requires you to close the card account, so you won`t have lost anything in any way.

Those things are the standard motivations explaining why cards are popular with almost everyone -- which can be boiled down to the sheer convenience of anytime-anywhere spending. Despite the myriad advantages, no matter what the motivation, applying for and using online debitcredit card isn`t something anyone should do on a whim. online creditcredit cards has the potential to be a really convenient way that you could benefit from as an alternative monetary tool, though it also can be troublesome for you. This is because it is supposed to be used primarily by people who are able to manage its use. When utilized in a reckless or feckless manner, the cardowner is likely to reap the repercussions of a monetary reversal later on.

To assess whether you will be able to handle secured cards on line (and financial affairs) in the wisest fashion, you should factor in the core issues about the card and its basic elements. You`ve got to think whether you will have the means to pay off your card dues as soon as they reach you following purchases made by chargecredit card online. Outstanding dues on creditcard are not an unusual state of affairs, on account of the incapability of the card owner to immediately settle his obligations. This occurs when the card owner does not pay attention to how he/she makes credit purchases, and therefore accrues higher and higher dues at the end of each billing cycle.

How about a scenario where a cardholder can`t square the total amount of card dues and only makes partial payments? There is nothing wrong with this, although it is potentially very risky when this becomes a regular occurrence and card debts mount over the long term, since it means heftier interest rates. Credit charges and late-payment fees tend to really skyrocket when there are no accessible cash resources to cover the card dues. In such a scenario, it is essential that the card owner make use of the most trustworthy form of financial management to find out how he or she might leverage secured credit cards in order to prevent financial losses.
Offshore Pro Group

How to Apply for a Debit Card

2010-06-09T12:10:00.000-07:00

What Is a Debit Card?

A debit card is a plastic card that instantly subtracts cash from a banking account upon use, or from a prepaid amount of money deposited to a financial network. A debit card may be attached to a savings account, checking account or money market account. Unlike a charge or credit card, a debit card purchase incurs no interest. However, a debit card may have usage charges such as a fee for cash withdrawals from an ATM (automatic teller machine). Debit card purchases require a PIN (personal identification number) to make a purchase, although some cards allow purchasing on a credit network that requires only a signature. Signature purchases are common for those enrolled in cash-back reward programs with their financial institutions. A PIN debit purchase is required to get cash back.
How to Obtain a Bank Debit Card

Banks will usually dispense a debit card upon the opening of a new checking account. Some banks are able to create a card on site, while others mail cards to a person's home address. The card bearer then calls a phone number, visits a website or uses the card at a machine to activate it. For savings accounts, a bank will commonly ask if the account holder wants to receive a card. Because savings accounts are meant for long-term deposits, debit cards aren't as necessary. However, many people still get cards for these accounts for fast access to cash in case of an emergency. Many institutions charge for savings transactions above a certain quantity, and debit purchases count toward this total. After that line is passed, a fee of $10 or more is tallied for every purchase. Beware!
How to Obtain a Prepaid Debit Card

For those who can't get a bank account, or don't wish to use an ATM card that is attached to one, prepaid cards are a way to get the same convenience. One easy way to get a debit card is through an online financial payment service such as PayPal. PayPal cards use a person's PayPal account balance as the principle. However, an account holder must have a PayPal account in good standing for 60 days to obtain one. Another method is to go to a check-cashing store or Western Union location and purchase a card. These cards usually cost about $10 plus the amount of cash principle. Once purchased, the cards may be refilled at any location offering the particular service. The biggest drawback to this variety of card is the fee structure. It's common for ATM transactions to cost several dollars in fees and for debit purchases to cost anywhere from 50 cents to $1. There may also be a percentage charged monthly on any balance carried. The third option is to have a percentage of your paycheck go into a debit card. The payment service will mail you a card and will usually charge a nominal up-front fee. These cards also come with plenty of usage fees.
The Best Option

The best option for obtaining a debit card is to open a bank account and keep it in good standing. Barring that, PayPal is the second best choice. If one of these isn't a possibility, then see if life is possible without a debit card. Pay bills with money orders, and use cash for everything else. Not only will this save you the fees of prepaid debit cards, it will teach good money management.
Offshore Pro Group

Debit cards: get the flexibility of a credit card but avoid the debt

2010-06-09T12:09:00.000-07:00

If you’re the kind of person who struggles to reign in your credit card debt each month, a debit card could be for you. Debit cards have all the functionality of credit cards – you can make purchases online or over the phone – but only let you spend money you actually have.

Recent reforms to debit card regulations make the transaction fees for debit card transactions uncertain, but debit cards are still a great option for lots of consumers, as evidenced by their rising popularity.

Debit cards gaining popularity in Australia

Visa International says the amount spent on debit cards worldwide is around $US2.2 trillion, or 55% of the market, with $US1.8 trillion spent on credit cards.

In Australia debit cards’ market share is much lower – around 33% - but spending on debit cards rose 13% last year, whereas growth in Visa credit cards was only 3.1%. This growth in popularity for debit cards is probably due to surcharges on credit card transactions, which are sometimes 3% or more.

Visa debit cards have been available for a number of years, but MasterCard has now entered the market with the launch of the BankWest MasterCard debit card in November 2005.

A number of institutions have recently released debit card products, including ANZ who launched their debit card in March this year, following the lead of St George with a debit card on offer since 2000, and Suncorp since the 1980s.

How do debit cards work?

Most debit cards have all the features of credit cards - you can make payments over the phone or internet, access your money overseas, or make purchases at “credit cards only” locations. The difference is, the money for these payments is drawn directly from your savings or transaction account, rather than as credit from the bank. This means you can monitor your account balance and see exactly how much money you have left to spend.

Debit card features

Some debit card accounts allow you to establish a line of credit, where you can overdraw your account up to a specified limit. This makes the card effectively like a credit card, however the overdraw fees can be very high.

Some debit cards offer a charge back feature similar to credit cards, where if goods are not delivered, or are of a substandard quality, you can officially charge that back against the retailer and get refund.

Similarly, some debit cards provide a guarantee for internet transactions, where you aren’t charged for unauthorised or fraudulent transactions if you report them to the bank in time.

Fee-free EFTPOS transactions?

Some financial institutions promote fee-free EFTPOS purchases when you select “CR” (credit) rather than “SAV” (savings) or “CHQ” (cheque) when making a purchase with your debit card.

Most everyday transaction accounts offer you a number of free electronic transactions per month, then charge you for excess transactions. Using your debit card and pressing “CR” could save you any transaction fees you might be charged over your free transaction limit. (Check your bank’s fee schedule to make sure this applies for you.)

However, this system could change with recent reforms introduced by the Reserve Bank of Australia (RBA).

Reserve Bank of Australia reforms to the debit card system

In April 2006 the RBA released a series of reforms to the Australian electronic funds transfer scheme that will impact on debit card transactions. These include:

Interchange fees cap: Previously if you made a purchase using an EFTPOS card, the institution that issued that card would pay around 20 cents to the merchant’s bank, whereas if you used a Visa debit card, the institution that issued the card would receive around 40 cents. This is despite the fact that both types of transaction are accessing your deposit account. The RBA reforms narrowed this difference in fees from around 60 cents to 20 cents. The RBA argues that narrowing the gap in these fees will create fairer competition between the EFTPOS system and Visa debit system.
Scrapping the “honour all cards” rule: Previously merchants who accepted Visa credit cards were also required by Visa to accept Visa debit cards. The RBA abolished this rule on the grounds that it was uncompetitive. The same rules will apply to MasterCard.
The RBA’s payment reforms have been plagued by controversy and lobbying from interest groups including retailers under the Australian Merchants Payment Forum, the Australian Bankers’ Association and the major card providers.

What now?

The challenges to the RBA’s reforms have included legal battles over some of the proposed changes which makes the future of debit card transaction fees slightly uncertain.

However, fees are unlikely to rise as a result of the changes, and regardless of whether or not they do, debit cards are still a good option for customers seeking the features of a credit card, without the risk of sinking into credit card debt.

Offshore Pro Group

The Benefits of a MasterCard Debit Card

2010-06-08T12:26:00.000-07:00

The prepaid MasterCard debit card, along with one or two others, is now virtually a household name. It offers you the flexibility of having a piece of plastic to use for phone and online purchases as well as in-store, but without the risk of you running up debt.

A conventional credit card makes an amount of credit available to you. You spend then eventually pay it back - sometimes over a period of many months or even years - with interest added on top. Although this may suit many people, it may worry you that you could slip further and further into debt simply because the credit limit is there waiting to be used.

This doesn't have to be the story though because with a prepaid card, you can avoid the risk of overspending.

Why bother with a card anyway?

It may be that your solution to the risks of spending too much on credit is simply not to bother with a card at all. The trouble is, that approach can also bring with it some problems because today it's increasingly necessary to offer plastic for payment. Some automated sales facilities and much buying over the internet actually demands that you have a card available - cash or cheques may not be of any use in such situations.

The plastic card has another advantage and that's security. Your card is typically useless without its PIN and once you know it's been lost or stolen, you can cancel it in a short telephone call.

So, the question is, can one have the security and convenience of a plastic card without running the risks of running up large debts on credit?

Prepaid credit cards

The solution may be the prepaid card. In operation, nothing could be easier. You just load money onto the card through a bank transfer, salary credit or top-up at a PayPoint outlet. You then can use the card normally until such time as the amount you've loaded is used up. You can also use it for cash withdrawals, up to a pre-agreed daily limit.

A prepaid MasterCard may prove an ideal aid in helping you manage your monthly finances.
Offshore Pro Group

Mastercard Prepaid Debit Card

2010-06-08T12:21:00.000-07:00

The Debit MasterCard offers autonomous transaction power to customers. The company sells MasterCard debit cards through several partnered banks around the world. However, MasterCard is responsible for providing debit card services to all its customers, irrespective of their personal banking institutions.

With the vision to imbibe technology in financial transactions, the Debit MasterCard aims to foster relationships between financial institutions, retailers and consumers. Through an understanding of international commerce, the company fuels economic links globally.

MasterCard is headquartered in New York, USA. However, its international business operations are regulated through regional offices in almost all developed nations.

MasterCard has three products under the debit card category: the Standard MasterCard, Gold MasterCard and Platinum MasterCard.

Standard Debit MasterCard

Standard MasterCard allows you to pay for utility bills and taxes without the need for cash. It is the standard version of the Debit MasterCard but offers unique features such as:

Worldwide acceptance: Debit MasterCard is accepted at millions of locations around the globe. With more than one million MasterCard-powered ATMs worldwide, customers can enjoy easy and convenient financial transactions anywhere.

Zero liability: MasterCard allows the customer to choose the services they want to pay for through the debit card. Thus, it reduces the possibility of unauthorized payment through the debit card. A Debit MasterCard holder can immediately report an unauthorized transaction to the customer care centre. However, this facility is available to only those customers with good account standing.

MasterCard Global Service: With global network coverage, MasterCard offers 24x7 customer services in multiple languages. Emergency services, including lost or stolen card reporting, card replacement, cash advance and ATM information, are available through the customer care services.

Exclusive Debit MasterCard

The Exclusive Debit MasterCard includes the Gold MasterCard and Platinum MasterCard. Apart from the standard debit card services, these cards offer value added advantages to customers. Special benefits offered by the Gold and Platinum MasterCard debit cards include insurance, such as:

Automobile cover: MasterRental insurance offers extended warranty cover on genuine auto mobile parts and road assistance service.

Travel cover: This includes insurance benefits against baggage delay, hotel burglary and lost baggage. With the Gold debit MasterCard, you are also eligible for travel assistance services.

Shoppers cover: This includes price protection, extended warranty and purchase assurance coverage.
Debit MasterCard uses security code technology to protect your banking account from unauthorized access. Also, Debit MasterCard comes with extensive security features to restrict unauthorized use of your card when transacting with online retailers. Proactive security features make the MasterCard debit cards one of the most secured online transaction instruments.
Offshore Pro Group

Co-branded credit cards: the pros, cons and management of easy debt

2010-06-07T10:32:00.001-07:00

Co-branded cards now account for one-third of MasterCard's U.S. card base and 20% of Visa's. As the inebriant of the power of plastic wears off, sophisticated consumers need to carefully review the costs and benefits associated with these cards. Understand that credit cards serve two basic purposes: one, a means of payment, and two, a source of credit.

About one-third of credit card users use them as a method of payment and pay the balance in full each month. Those consumers able to wipe the slate clean every month are generally in the higher income brackets. With credit card interest rates going as high as 20%, the benefit to the holder is an immediate savings on interest rates.

The largest percentage of credit cardholders, however, are installment users who consider credit cards an alternative method of financing and carry a balance from month to month. Financial advisers across the board point out that these consumers are perched on the edge of a gaping pitfall.

The interest rate on the credit card frequently wipes out the perks. By the time you have made enough purchases to qualify for free flying tickets or product discounts, you probably could have paid the price straight out for what you've paid in interest charges.

On the bright side, when you add up the annual fee and typical interest rate for each card and then subtract the value of the rebate, the air fine and auto cards produce an overall better bargain than conventional cards.

For cynical consumers who acknowledge that the retailers and credit card companies are really out to get them, there is a strategy for playing one company against the other. Use the incentive card for purchases and rack up the credits you need for discounts on your heart's desire.

Supported by Visa and MasterCard, the list of co-branded cards is growing.
Offshore Pro Group

Link Up With Co-branded Debit Card Program

2010-06-07T10:14:00.000-07:00

There are many options available for customers these days in terms of plastic money. Most of the people always search for products that will make their lives hassle free. Co-branded card programs are designed in such a way that they fortify customer relationship and brand awareness. In fact, co-branded debit card programs help to reduce the recovery cost and attract new customers for a business.

In fact, co-branded debit card programs help in widening your customer base, building a bond and lowering the costs. A new cooperation is formed between customer and brand by these programs. They help in reaching the targeted customer base in an easy way.

The Co-Branding Power:

The Supremacy of Co-branding.

You also get promotions, cross-selling methods and other incentives to make your business bloom. Co-branded debit card programs are useful for a company, as this can give a fillip to any business.

With co-branded card programs, you are able to raise the customer retention level and bonding through incentives, cross-selling methods and promotions to boost the profitability of your business.

For many organizations, such co-branding card programs are an undisputed way to take their businesses to a higher level. You are eligible for a co-branded debit card program, if your company

For some organizations, Co-branding debit cards offer a way to take the business to a whole new level. Co-branded cards will be of great help if

If you fulfill all these factors, then co-branded debit card programs are a must for you. However, before you acquire any such program, it is good to be well versed with all the advantages and adversities that your firm or your customers can face.

If you intend to achieve all these targets, then a co-branded credit card program is the right option for you. However, you need to be careful while opting for a co-branded card program and you must be aware of all the advantages and the risks associated with the program that you intend to finalize for your business.

For more information on co-branded card programs, log on to www.credocard.com. You can opt for a Offshore Pro Group MasterCard debit card program, as they are the leaders in the co-branded card field. Offshore Pro Group currently backs more than 16,000 card initiatives in around 85 nations. These debit card programs surely help businesses to attain a much higher stature and make a mark in the business arena.

Offshore Pro Group

Co-branded Debit Card: A Smart Financial Tool

2010-06-06T00:32:00.003-07:00

Small and medium sized business organizations can gain by using branded and co-branded card programs. These programs can be used to build strong relationships with existing and new customers. In terms of payment options, co-branded cards are a better choice than store gift and cash vouchers.

In a very short period, co-branded cards and co-branded debit card programs have gathered large popularity among different business fraternity. A company can improve its brand image by distributing these cards to its customers.

Several SME’s (Small and Medium Enterprises) have realized the potential benefits of generic debit card programs and adopted them. Most of them have benefited from these co-branded programs.

Many business entities such as financial institutions, insurance and Forex companies based in Malaysia, Singapore, Brazil and Germany have gained from implementing co-branded card programs. One of the main advantages of using co-branded debit card program is that a company can maximize its business in the most cost- effective and profitable manner.

Companies can use co-branded debit cards program that work in association with reputed debit card providers such as MasterCard and Visa to attract new customers. Besides, since these reputed cards are accepted in almost all locations around the world, the company can gain good overseas exposure.

In addition, branded prepaid card programs allow companies to print their name and logo on co-branded debit cards. Due to the companies’ association with reputed brands such as Visa and MasterCard, their brand image improves considerably.

Both, the company and its customers gain from using co-branded cards . Customers can use these cards to make purchases even when they run out of cash. Besides, customers are offered various discounts, bonuses and reward points when they use these cards. The reward points gained can be used to make more purchases.

Offshore Pro Group

Grow Your Business Potential With Co-Branded Card Programs.

2010-06-06T00:32:00.001-07:00

Co-branded card programs have gained immense popularity in a quick time. The major benefit of co-branded debit card programs is that, they help you to grow your business in a profitable way. By issuing these cards to the customers, you can improve your brand image. A co-branded MasterCard program is the best option in terms of co-branded debit card programs. The present customer database grows after a company rewards the customers with such debit cards. This allows them to shop freely anywhere they want. Such co-branded card programs provide you the freedom of shopping at your own leisure, as you are not bound by time and place, while shopping with such a co-branded debit card. You can access your funds by visiting ATMs or you can make online payment for the purchases. Co-branded card programs offer a wide range of benefits such as Travel Cards, Incentive programs and Prepaid Insurance to Prepaid Payroll Cards. Co-branded debit card programs also provide advantages such as incentive programs and travel cards, prepaid payroll, and prepaid insurance to corporate houses.1. They give brand recognition to your business without any administrative hassles.1. These programs come with no administrative hassles while promoting and enhancing your brand image.2. Your business receives brand recognition.4. Help you to create brand recognition for your business4. Brand royalty is promoted by offering personalized rewards.5. Help you save money by minimizing the costs required in processing and handling of checks, cash and bank accounts.6. These programs help you learn and understand customer-spending habits, which in turn will help you in devising new services and serving your customers in a better way. In short, introduction of co-branded debit card programs to your customers will benefit your business in a significant manner, which includes brand loyalty, improved profits and reduction in overall existing payment costs. Introduction of a co-branded debit card by associating with a bank will help increase your customer base. It will also bring in brand royalty, improved profits, reduction in costs for payroll and related activities.
Offshore Pro Group

How to Create a Co-Branded Card

2010-06-04T13:37:00.001-07:00

Co-branded credit cards have become very popular recently. These cards usually carry the logo of a credit card company like Mastercard or Visa, as well as the logo of a retailer, airline, oil company or other business. The cards also usually offer rewards or other benefits to the cardholders who use them, and usually increase customer loyalty to the issuing organizations. If you're thinking about introducing a co-branded card for your organization, here are the steps you'll need to take.

Co-branded Card Development

Step 1

Define a value proposition that will be compelling to the cardholder. With many different co-branded cards already available, your card will need to offer the cardholder something unique. It should offer valuable benefits that are not widely available elsewhere, but that will still be economical and affordable for you to provide.

Step 2

Develop a list of potential issuing partners, e.g. banks or financial institutions that have experience with co-branded cards and are looking for new marketing opportunities. Contact these organizations to determine their level of interest and narrow your list to the most likely three or four prospects.

Step 3

Develop a marketing plan and budget for your card. The marketing plan should define the size and composition of your target market forecast the number of cardholders you expect to acquire in the first year after the card's introduction. The budget should include the marketing expenses you will commit to develop and introduce the card and and any additional operating expenses you expect to incur as a result of its introduction.

Step 4

Prepare a request for proposal (RFP) for your co-branded card, aimed at your list of potential card issuers and send it to them. Then meet with them to discuss your RFP. Determine the value that each can add to your program and the resources they are willing to commit to it. Discuss their existing co-branded card programs and credit policies, and determine the level of success they have had. Ask them to furnish you with formal proposal that includes a written description of the human and financial resources they would commit to your program.

Step 5

Review the proposals submitted by each potential issuing partner and determine which one brings the most to the table. Once you have made that decision, contact them and develop a formal contract that defines the roles that each party will have and the financial obligations that each will incur.Negotiate your differences, finalize, and sign the contract.

Step 6

Develop a card design and marketing materials. These should include a direct mail package that you will send to your customer base and "take-one" applications for the card that will be distributed in your stores or in other places where your existing and potential customers can easily obtain them. Prepare some print, radio and/or television ads to introduce your new card to consumers. Then, launch your new card by issuing a press release, sending direct mail solicitations and distributing the take-one" applications for the card. Analyze the results after 90 days and determine if they are meeting your expectations, and what, if any, changes to your program may be necessary.

Offshore Pro Group

The Perfect Edge for your Company is the Co Branded Debit Card Program

2010-06-04T13:36:00.001-07:00

Today, most businesses are finding it harder and harder to build customer loyalty. Customers are always looking for a better and bigger deal and have no problem taking their business to whatever company will provide it. To remain competitive and to give your company an edge you might consider the benefits of enacting a co branded debit card program. One company that can help you to start up such a program is Offshore Pro Group.

Why can this program help your company? One of the most important parts of the co branded debit card program is the fact that your company name and logo appears on the debit card being used by your customers. Offshore Pro Group can help your company to implement the program to meet your specifications. You can use the cards from this program around the world in many different countries. Check out the possible options you can use when you visit www.credocard.com. Learn more about how this company has helped many other organizations to create that edge it needs to remain competitive.

A co branded debit card program is simple to begin because Offshore Pro Group does all the work for you. You only have to decide what options you want to provide for your customers and what you need the program to accomplish for your company. Offshore Pro Group (http://www.offshore-pro.info ) has been providing unique solutions for companies and has many programs that can help your company to be as successful as possible. Check out all the different programs that are available including the co branded debit card program. This program can not only reward your current customers but help you to attract new customers. The more customers you gain, the lower your cost of operating can be.

Visit www.offshore-pro.info to learn how to customize your own co branded debit card program that will reflect your company's values and goals.

Offshore Pro Group

Enhance Your Business With Co-branded Debit Card Program Offered By Offshore Pro Group

2010-06-03T10:35:00.001-07:00

Branded and Co-branded debit card programs can prove beneficial for companies in expanding their customer base and fortifying the relationship with the existing consumers. These co-branded cards are a better and safer option than cash and store gift vouchers.

With branded prepaid card programs, companies can print their brand names and logos on the co-branded cards. Since these programs involve association of renowned credit card brands such as MasterCard and Visa, they help in promoting a companys brand image and increasing its recall value.

Co-branded cards allow companies to access a wider customer base. Well-designed and well-implemented co-branded card programs can decrease a company’s acquisition costs and in turn, enhance its business prospects. It can be beneficial for both, local and international business organizations.

These cards are very customer-friendly and issued instantaneously. They provide the customers with flexibility pertaining to spending of funds. These cards also enable the customers to shop even in the absence of cash.

Co-branded debit cards serve as a reminder of a particular business entity to its customers. This helps in promoting the companys brand image. With these card programs, a company can offer several discounts for both, new as well as existing customers to increase the loyalty of customers towards its products.

Co-branded debit cards can be very advantageous for the customers. They are simple to operate. By using co-branded debit cards, customers can make online payments for their purchases. By shopping at the outlets that have a tie-up with the bank issuing co-branded debit card, customers can enjoy attractive discounts.

Financial institutions, Forex and MLM companies, trade organizations and insurance firms have benefitted largely from co-branded card programs. Companies in Europe, America, Asia and the Middle East have successfully implemented co-branded or generic debit card programs and have obtained good results.
Offshore Pro Group

Various Advantages of Co-branded Debit Card Programs for Businesses

2010-06-03T10:32:00.000-07:00

Co-branded debit cards have become every popular among the business fraternity worldwide. Co-branded debit card programs involve association of banks, credit card companies such as Visa and MasterCard and business organizations.

A Co-branded debit card has the hologram or the issuing name of the bank along with Visa or MasterCard emblem. Co-branded card programs allow business organizations to print their logos and names alongside these reputed names on the co-branded cards. This helps in promoting the brand image of the companies enhancing their business prospects.

If well sorted and implemented, a co-branded debit card program can prove to be productive for both domestic as well as international business organizations. Co-branded card programs are an effective way to retain existing customers and attract new customers

Today, consumers seek products and services which can make their lives hassle free, especially in terms of payment options. Co-branded card programs are designed in such a manner that they provide the customers with flexible payment options. This helps in strengthening the bond between the companies and customers.

These cards can be used for shopping by the customers even when they fall short of cash. With these cards, customers can also make online payments. Besides, these cards are safer and better financial tool than cash and store gift vouchers.

A well-designed co-branded debit card program can enhance the business prospects of business entities to a great extent significantly reduce the acquisition costs involved in bringing in new customers. This in turn increases the profit margin of the companies.

With co-branded cards, business organizations can gain international exposure and access more number of customers. Through these cards, companies can offer attractive offers such as cross selling, refunds and regular buyer plans. This helps companies in attracting new customers and expanding their businesses. Several companies in America, Europe, Middle East and Asia have gained by employing branded prepaid card programs or generic debit card programs.

Offshore Pro Group

Co-branded Debit Card Programs

2010-06-01T16:22:00.002-07:00

A new tool that has been created to give companies an edge over their competitors is the co-branded debit card program. The co-branded program allows any company to use its name and a company logo on a debit or credit card. Each time a customer makes a purchase with this type of card, it works just like any other type of card that the customer might have in his or her wallet except that the customer will see the company logo and name each time the card is presented.

To create a new habit, many people believe that repetition is important. If a company wants their name or logo to be remembered, allowing them access to a card that has your company information on it can go a long way to helping build brand awareness for your company. Why allow your competition to take advantage of this simple and unique feature when you can beat them to it. Just imagine that every time the customer uses your card, you not only have a customer who sees the logo and/or name of your company, but so does the merchant who is accepting the card.

Make sure you do the research carefully for any company that offers such a program. If you do not choose the right company, your business

could be tied to a company that causes you irreparable damage. Learn about the details of any co-branded debit card program that you are interested in using before you commit your company to the program. Ask questions, and make sure you do not overlook anything important in the fine print of the program. The co-branded debit card program can provide the necessary edge your company needs to remain one step ahead of your competitors as long as you choose the right program offered from the right company.

Offshore Pro Group

Succeed With the Co Branded Debit Card Program

2010-06-01T16:22:00.001-07:00

What company does not enjoy seeing its logo or name in the public's eye? Imagine that each time your customer went to pay for a item or service they saw your company logo and name. It is possible if your company decides to offer the co branded debit card program. This program provides customers with a debit cards that has your company's logo and name on the card. Repetition is an important way to remember something. If you could get your company's name in front of your customer every time they use their card, you are on the right track for success.

Before you commit to the co branded debit card program, you should do some research to determine if the options provided by the bank or financial institution are right for your company. You would not want your company name associated with a card that your customers do not like. Choosing the right company to host or provide the program is as important as the choices for options associated with the card. Many of the debit cards that are offered can also have a Visa or MasterCard logo that allows them to be used as a credit card in retail stores and online.

Consider the security that each company can provide for the co branded card program you are considering. Security is on most people's minds today as identity theft has become very commonplace. You can help assure your customer that your co branded debit card program is secure when it has some of the extras that can provide extra protection. Many of these cards are employing the use of encrypted and embedded chips in the cards themselves to act as an extra security precaution. Carefully consider the options and you can make the right choice. Provide your company with the tools it needs to be successful with a secure co branded card program.

Offshore Pro Group

Numerous Benefits Of Co-Branded Debit Card Programs

2010-05-31T13:37:00.001-07:00

Branded debit cards, or co-branded debit cards, are powerful tools for businesses to attract new customers and strengthen relationships with existing customers. Co-branded debit card programs involve collaborations between banks, companies and reputed credit providers such as VISA and MasterCard. Co-branded debit cards have earned huge popularity amongst different business organizations.

Co-branded debit cards have become immensely popular in almost all business organizations. Through co-branded debit card programs, companies can print their names and logos on these co-branded debit cards; these function in association with highly esteemed credit card companies such as MasterCard and Visa.

Since these cards are recognized and command worldwide acceptance, they allow the company to get international exposure. In addition, co-branded debit cards boost the recall value and the overall image of the brands in the market.

These cards also help a business to win the loyalty of the customer. The benefits achieved by the company are directly proportional to the number of times the customer uses the card.

These prepaid cards help companies to increase their customer base, and help to minimize the acquisition costs of the company. Hence, these cards help the companies to grow their business prospects.

These card programs are not only beneficial for companies, but also useful for their customers. Customers are always in search of improved and flexible payment options. Co-branded debit cards can be very helpful in providing the best solution to these customers.

These cards allow customers to make purchases even after they fall short of cash. In addition, customers can also get attractive discounts at merchant establishments that have an association with banks that issue co-branded cards. Co-branded cards offer customers different methods of payment. They can either withdraw money from an ATM to make payments, or they can also shop online and make payments through these cards.

Many financial institutions, Forex companies and insurance companies have benefited immensely from the usage of branded prepaid cards program. Many companies in America, the Middle East and Europe have achieved successful implementation of generic card programs.
Offshore Pro Group

Co-branded Debit Card Program : An Efficient Marketing Tool for Companies

2010-05-31T13:36:00.001-07:00

Co-branded debit cards programs involve affiliation of a bank, a business organization, and credit card providers such as MasterCard or Visa. Co-branded cards prove economical for companies business prospects. Hence, many business organizations worldwide are recognizing the advantages offered by these cards.

Business organizations can gain huge benefits from co-branded debit cards. Hence, various business establishments world over have started to involve into co-branded card programs. Today, organizations across different sectors including entertainment, retail, travel ad telecom can use co-branded debit cards.

If you wish to expand your customer-base and want to improve the reputation of your company in the international market, you can consider implementing these card programs. These cards represent the company’s brand name along with the name of esteemed credit card companies such as Visa and MasterCard which have a world-wide acceptance. Thus, by implementing co-branded programs, you can gain more exposure and tap more customers.

Co-branded debit card programs will also help your to study the spending methods of your customers. It can thus help you to formulate suitable marketing strategies.

You can provide attractive bonus and discounts offers to your customers through co-branded card programs. This will help you not only to lure new customers but you can also effectively retain your existing customers.

Co-branded debit cards are also beneficial for your customers. Owing to their flexibility in terms of spending patterns, they can offer a huge amount of convenience to your customers. Your customers can spend money even if they don’t have sufficient amount of cash.

These cards can be used by customers to pay their monthly bills or shopping bills. Besides, they can also be used to make payments over the Internet. Co-branded debit function are similar as prepaid cards. Thus, these cards allow the the customers to continue shopping even after they run short of cash in hand. The bill amount is later subtracted from their accounts.

Various business organizations such as trade organization, insurance firms and financial institutions have been greatly benefited from branded prepaid card program or Generic debit card program. Several business organization based in Asia, America, Middle East and Europe have reaped great benefits from co-branded debit cards.

Offshore Pro Group

Offshore Pro Group - The Industry Leader in Co-Branded Debit Card Options

2010-05-30T17:29:00.001-07:00

Offshore Pro Group - The Industry Leader in Co-Branded Debit Card Options

Consumers today are flooded with payment choices. But they most commonly utilize payment solutions which allow them to express their individuality, while also simplifying their lives. Co-branded debit card programs from Offshore Pro Group satisfy both of these consumer demands.

Co-branded partnerships strengthen customer loyalty as well as attract new customers, lowering the organization's overall acquisition costs.

Offshore Pro Group is the industry leader for co-branded debit card programs, white label programs, software and payment integration platforms and turnkey payment solutions. Some of the payment programs currently offered by Offshore Pro Group include:

· Co-branded debit card programs

· White label programs

· Co-branded pre-paid credit card programs

· MasterCard or VISA

· Magnetic stripe and/or EMV (chip cards)

· Embossed and un-embossed card programs

· Full suite of services for the un-bankable clientele

· Turnkey solution including licensing and payment processing integration.

The company develops programs for clients within the following regions: Asia, Latin America, Caribbean, Europe, Middle East, Africa, South America, North America.

Offshore Pro Group prepaid debit card programs are used worldwide by clients for a variety of needs, such as Dividend, incentive and Forex payouts, Membership based affiliation applications, Loan and benefit payout applications, Insurance payout programs, Commission payout applications, Travel and remittance card programs, Telecommunications and cellular phone companies, Department stores and supermarkets, Gaming and gambling organizations, Service and utilities companies, etc.

Offshore Pro Group

Offshore Pro Group advice: “Reward Your Co Branded Debit Card Program Users”

2010-05-29T12:43:00.002-07:00

To keep your company competitive, you might find that it needs an edge over the other companies or businesses that you compete with. One tool that you should consider is the co branded debit card program. This program allows you to place your company logo and name on a debit card that your customers will see every time they make a purchase. Keeping your company's name in front of your customer is very important.

If you can keep your company name or logo in front of your customer, you have a better chance of developing more return business. How do you keep these customers is the question you have to ask yourself. One way is to offer special rewards to your customer for using your debit cards. It might be something as simple as a cash back offer on certain amounts of money spent on the card. You might decide to offer something different but it should be something that your customers can appreciate and will find worth their effort.

Many airlines offer miles on their cards and this has proven to be very popular. While you may not be able to offer miles that can be turned into free trips, your co branded debit card program should offer something that is unique to your type of business, yet something that your customers will value. You might have to think carefully about the rewards you offer but it will be worth it to your business in the end. The reward does not have to be something large or difficult to implement. Sometimes the simplest reward is the best.

Everyone appreciates being rewarded for doing something that he or she already does. If your customer does not have to do anything special to get the reward, it makes the reward even much more attractive.

Offshore Pro Group

Pros and cons of going cashless with a credit card

2010-05-29T12:43:00.001-07:00

We've all heard the prognosticators say that a cashless society is right around the corner. They've been saying this since the 1970s, when people began using credit or debit cards for the majority of their purchases. Perhaps the much vaunted cashless world is a virtual Neverland where people get around with Jetson-type cars and jet backpacks.

Regardless of the hype, it is quite possible to live a largely cashless existence in this country by relying on a credit card. This is particularly true if one lives in a major metropolitan area that provides major retailers and restaurants on every corner. It's almost hard to find a gas station anymore that doesn't have a pay-at-the-pump with a credit card option.

However, this does not mean that cash is dead, by any means. It's just a matter of choice and financial style that determines the degree to which a person relies on plastic, in the form of prepaid debit cards and credit cards, to get through their day to day lives.

There are distinct advantages and disadvantages to both paper and plastic forms of payment. Concerning cash, it can provide a healthy dose of anonymity when used as legal tender to pay for goods and services. And, privacy is a rapidly vanishing commodity in this country, so that advantage shouldn't be discounted. On the other hand, cash generally requires in-person payments to be made, which can be inconvenient compared to credit card and prepaid debit card transactions. The latter can be used remotely in a point of sale scenario where the customer swipes the card through a reader as well as for online purchases.

Another set of positive and negative aspects of cash exists that should be discussed. Cash has an immediate, visceral quality that can actually help control excess spending relative to making purchases with a credit card or debit card. You can try this experiment the next time you make an impulse purchase and, instead of pulling out the Visa or MasterCard, count out what you owe in cold hard cash. It provides a greater degree of clarity regarding the sacrifice you are making in exchange for the object of your desire. The downside of being a heavy cash user is the security issue. Losing cash or having it stolen is always a risk, and once it's gone, it's gone.

Concerning plastic, there are many reasons to consider moving to this progressive mode of financial management. These include convenience, security and automatic record-keeping of your purchases. But, as with many seemingly great things in life, there is a price to pay for this convenience. One is the fact that it's much easier to let spending get out of control when all you have to do is swipe a plastic card to make your purchase.

Another involves the expense of paying interest for months or years if you are unable to pay your balance in full each month.

So, which is better? Cash will probably never go away completely, much to the consternation of Visa, MasterCard, Discover Card and American Express. Even though the major card companies have been going after the micro-payments market in a big way, there will probably always be currency floating around the globe. But, it's good to be aware of the pros and cons of both cash and plastic and manage your finances accordingly.

Offshore Pro Group

How to Correctly Handle Credit Card Accounts in a Divorce

2010-05-28T09:35:00.001-07:00

Each year in the United States there are over 1 Million divorces. There is a lot of great information available to those considering divorce on how to divide up marital assets, determine the custody of children, and deal with the emotional toll a divorce can take on its participants. Unfortunately, many people neglect to handle outstanding debts in a manner, thru the Divorce, that will prevent serious financial problems down the road.

The primary issue results from many believing the Divorce Decree will supersede any original debt obligations or contracts and the impact that can have on someone’s credit and their ability to obtain financing, employment, or housing in the future. It’s not uncommon at the time of divorce to have outstanding credit card debt that is jointly held. You have 3 options to handle this debt to protect you from future problems:

1) Sell Something – The first option is to sell a joint asset and use the proceeds to wipe out any and all outstanding credit card debt while also closing the accounts or converting them into individual accounts.

2) Apply for separate credit – The second option is for each spouse to apply for new credit in their own name and then transfer their share of the existing debt into their new account while closing out the joint account.

3) Free the Account - If you cannot afford to pay off the existing debt and have difficulty applying for new credit, another option is to have the account frozen so new charges cannot be added. While this won’t eliminate your obligation to ensure the debt is being paid, it will prevent your ex-spouse from charging more to the account.

If these options just aren’t feasible in your situation and your ex-spouse will be responsible for making payments on a joint debt, it’s your responsibility to monitor that account and ensure it is being paid on a timely basis. This can be done by having copies of the bills sent to your home, gaining online access to the account, or regularly checking your credit report.

If your ex-spouse is unable to make the payments in a timely manner, regardless of what the Divorce Decree says, to protect your credit, you will need to jump in and begin making payments on that account.

Anyone considering a Divorce should seek legal counseling due to the complexity of what is involved. Do not be bashful in bringing up these issues with your Attorney to prevent a financial nightmare down the road.
Offshore Pro Group

Ways to Cut Credit Card Debt

2010-05-28T09:34:00.000-07:00

How to eliminate credit card debt—once and for all—is a common topic for personal finance writers. And a popular way to do so, they write, is as follows:

The objective is to eliminate the carry-over balance on one card at a time, until all your cards have a zero balance. The credit card issuers will hate you for doing this, of course. But if you don’t do it, you’ll continue to pay hefty interest charges every month and will owe a balance until you die. Even then, if any relatives or friends are authorized to use your card, those charges will continue until they die.

If you have several credit cards—as most people do—all with carry-over balances every month, select one card and call it Card A. Call the others Card B, Card C, and so on. Then start paying more than the minimum on Card A, while paying at least the minimum on the other cards.

Now here’s where the personal finance writers are divided. Most say that Card A should be the card with the highest interest rate. That’s because—all else being equal—this card accounts for more finance charges than the other cards.

The problem is,”all else” is usually not equal. The carry-over balances are probably all different. Therefore, a few other personal finance writers argue, you should designate the card with the lowest balance and pay that off first. Then you’ll have a card with a zero balance, and anything you charge on it will not be socked with a finance charge—if you pay the balance in full each month.

Naturally, if one particular card has both the highest interest rate and the lowest balance, that’s definitely the card to pay off first.

As soon as you pay off Card A, select another card and start paying off that one, too.

Offshore Pro Group

Paying Your Credit Card Bill by Mail

2010-05-27T12:40:00.001-07:00

The traditional way to pay a credit card bill is to detach the “return this portion” of your statement that contains your name, address and account number, along with the address of the payment processing center.

You fill in the amount you’re paying and insert the portion, with your check or money order, in the envelope provided, making sure the center’s address shows through the window of the envelope. Affix a 42¢ stamp (44¢ after May 10) and mail, at least five days before the due date.

The further you are from the center, the more time it will usually take to get there. And vice versa. If you find out there’s a closer center than the one shown on your statement, ask the card company to list that one instead, to save a day or two of transit time.

In case you never noticed, there’s a series of five vertical lines to the left of where you stick the stamp. This indicates to the sorting machine at your local post office’s that there’s a barcode beneath the address, which the machine reads to speed up the processing. If you address a closed-face envelope instead of using the window envelope, this automation is lost and your mail may be delayed.

And that’s important, because if your payment is posted even a minute after the time noted on the back of your statement—e.g., 3 pm ET—on the due date, you’ll be hit with a late fee of $39 or so. Even if it arrived much earlier that day but a clerk didn’t get around to posting it until after the deadline.

Offshore Pro Group

Credit Card Tips: Save Big Money with a 5-Minute Phone Call

2010-05-27T12:39:00.000-07:00

Credit card companies keep raising fees and interest rates, because they are struggling to survive one of the worst economic climates in history. Every day the headlines describe how another credit card company cut back lines of credit or spending limits while it raised interest rates that were already out of control. But if you are a good customer who has not given your card company any legitimate reason to be hard on you – if you pay your bills on time and do not exceed your spending limits – then you may be able to successful turn things around in your favor. And all it takes for many cardholders is a polite and simple five minute phone call.

Call the card company customer service line, and politely but firmly explain to them that you have been a loyal customer and are satisfied with your card – except that you are able to get a much more attractive rate from another card company that has extended offers to you. Let them know that you will stay with their company only if you can justify doing so by getting a more reasonable rate, and ask them what they are willing to do for you.

If your current interest rate is 20 percent, for instance, you may want to ask for 15 percent instead. If your rate is 15 percent now you might try to get them to lower it to 10 or 12. Usually the customer service representative is already authorized to give you a small rate discount, as long as there are no problems with your account. They will often offer you a lower rate on the spot, and if they don’t you have nothing to lose.

But if your phone call only gets you from 20 percent to 18 percent, for example, you can pat yourself on the back. You just scored a whopping 10 percent discount and it only took five minutes. That’s a much better rate of return than most Wall Street wizards can boast.
Offshore Pro Group

Credit Card Tips for eBay: Rack up more reward points on PayPal

2010-05-26T03:16:00.001-07:00

So you are one of those millions of Americans who loves to shop on eBay, and you’ve noticed that within the past year or two almost every single merchant on eBay prefers PayPal payments. In fact, many – if not most – of the sellers on eBay only accept one form of payment, and if you don’t use PayPal then you cannot transact business with them. That’s not necessarily a bad thing, mind you, but PayPal accounts are generally tied directly to your checking account. You buy something, you pay for it on PayPal, and the money gets electronically deducted from your bank account to pay the seller. That’s great, and it’s really fast and convenient – but it does nothing to help you earn more rewards points on the credit cards that pay you in airline miles or other perks every time you choose to use plastic instead of cash.

Not to worry. You can still fuel your travel miles account while shopping on eBay and paying with PayPal. Here’s what you do: Once you get to your PayPal account, you will be presented with a page that shows you the details of your purchase, explains the shipping charges if there are any, and gives you a chance to double check and verify your shipping address and other pertinent details. But if you take time to study the page you will also notice that you have more than one choice for how you want to fund the transaction. The default or automatic setting is for it to take the money from you primary source of funds – which is usually going to be either your bank account or your special PayPal credit or debit card if you have one of those.

To use your purchase power to accumulate rewards on a special rewards card, however – such as an air miles card – you should list that particular card as your “back up source of funds” on PayPal. Then it will show up as one of the choices or sources of funds. Check that card – instead of automatically paying through your bank account – and it your charge will go on your designated rewards card. You’ll get your rewards points. You may not be entitled to special purchase protection plans from eBay or PayPal, so that is something you may want to consider. But chances are that your credit card company offers its own types of protection, so that may not be an issue after all.
Offshore Pro Group

The Online Era of Credit Card Management

2010-05-26T03:15:00.001-07:00

Not that long ago the whole idea of doing any financial transaction over the Internet was looked at with great skepticism and a bit of paranoia by the average consumer, but that has all changed. These days the online credit card account is a common resource for most people who can use online banking and Internet credit card tools to do everything from online credit card applications to bill payments and online credit card travel arrangements or shopping.

The only difference between traditional credit card use and online credit card management is that instead of dealing through the mail, over the phone, or in person at your bank you handle transactions and other procedures virtually – by using email or going to your online credit card company’s website. You can even get credit card offers through email, respond to them on your computer, fill out an online credit card application, and get a new credit card approved in your name – all with a few clicks of the computer mouse.

The big advantage of online credit card accounts and online banking is that you can access the account, pay bills, check your balance or statement, and do dozens of other tasks 24 hours a day, seven days a week, just by getting to a computer that has an Internet connection.

Once you establish an online credit card account you can schedule bill payment, for example, so even if you are traveling you can still pay your bills on time. You can schedule automatic payments for a future date of your choosing, and you can use your online account to manage your budget, your credit card rewards program, and even your year-end tax accounting. Nowadays you can even pay for things like your license plate registration renewal or real estate property taxes with an Internet credit card. Plus, doing this kind of activity and getting your online credit card statements sent to you electronically reduces the need for paper printouts, paper documents, and mailed statements – which is a greener solution that is better for the environment.
Offshore Pro Group

What Does a Credit Card No Response to an Application Mean?

2010-05-24T10:09:00.001-07:00

The first time getting a new credit card has become a really important rite of passage in the modern world of consumerism, because without a valid credit card it is much harder to transact business, shop, and enjoy the convenience of carrying plastic. But if you apply for a card and get a credit card no or a rejection of your application, don’t panic. Just because one card company turned you down it does not mean that other credit card companies will say no to you.

What companies look for on your credit card application is a track record of good borrowing and timely repayment of your debts. So first of all, lots of people who are applying for a credit card but have never had one before are faced with a challenge. Since they do not have a credit card they also do not have any credit history, and they me get a credit card no acceptance reply. In that case they should talk to their bank about ways to take out small loans, pay them back, make sure that the loan history is conveyed to credit card reporting agencies, and in that way gradually build up a paper trail of good borrowing and credit history.

Other reasons for credit card no acceptance answers from your application could be that you do not have enough income to adequately cover your debts. In that case you can reduce your debt by paying it off while trying to increase savings. Or you may get rejected because you or your spouse or ex-spouse has a bankruptcy or foreclosure on their credit record. In that case take some time to clean up your credit history, improve your credit score, and then try again.

If you meet with repeated credit card no-go answers each time you do a credit card application, you can still get an approved card, however, by using what is known as a secured card. You deposit money into a bank account attached to the card and the amount you keep on deposit determines your credit limit. Use the card responsibly to build a credit track record and then soon you will be able to apply for a conventional non-secured ordinary credit card.
Offshore Pro Group

Understanding Your Credit Card Payment Options

2010-05-24T10:08:00.000-07:00

Maybe you have noticed that once in a while, especially if you have been very good about making your credit card payment on time, you get a letter or note on your monthly credit balance statement that says you get a payment vacation. Some credit card companies offer these chances to skip a minimum payment, in other words, but before you accept the offer think about it for a minute because if you do not make the minimum payment you are still charged interest.

Making the minimum credit card payment just means you are keeping up with a portion of your interest payments, but by doing that you do not do anything to pay off the main balance of your debt. Only when you pay more than the minimum do your credit card payments cut down on your total outstanding balance – and only when you make a large enough credit card payment to pay off the entire balance do you stop getting charged interest.

Normally – unless you have a special card that lets you isolate certain purchases and pay them off separately – your card company will apply your credit card payments only to the total balance. So you may have a current outstanding balance, for example, of $300. If you buy something this month for $50 and pay for it at the end of the month by making a credit card payment of $50 your card company does not see it that way. In other words they don’t apply the $50 to that specific purchase but they just deduct it from the total you owe which is $300, plus the new $50 charge, plus any fees or interest you owe.

To really pay off your credit cards, therefore, you have to pay down the whole amount and clear the total outstanding balance back to zero. But keep in mind that there are some new cards being offered to those who have good credit and these cards offer financial management and budgeting tools that may let you pay off a designated purchase by itself – which gives you the flexibility to be more precise about how your credit card payment is applied. Some of these cards charge an annual fee but if you like that feature and option, you may want to look into getting one of these new cards.
Offshore Pro Group

Balance Transfer Strategies for Smart Credit Card Consumers

2010-05-23T13:37:00.001-07:00

One of the fastest and easiest ways to cut down on credit card debt is through what is known as debt consolidation. Debt consolidation is simply the tactic of taking expense high interest loans and paying them all off with a single lower interest loan, effectively capturing the difference in high and low rates as your instant savings. Of course the problem these days is that banks and other lenders are being tight with their money, so it is not so easy to just walk into a bank and walk out with a good debt consolidation loan. Instead, many consumers are taking the debt consolidation idea and implementing it by themselves, just by doing a credit card debt balance transfer.

Here’s how it works, in a nutshell: Say – just for example – that you have two or three credit cards with credit card debts on each one of $1,000, for a total of $3,000 in balances carried forward month to month. Now for the sake of example let’s assume that each card has an interest rate of 20 percent. If you get an offer from a competing credit card company that will let you do a balance transfer for zero percent interest on the transferred balance, you could move all of your other credit card debt – from the three different cards – over to that one new card. You will still have an outstanding balance of $3,000 total, but it will be on one card, not three, which makes it easy to manage. You just have to pay one bill, not three bills, and that significantly decrease the chances that you will accidentally forget to pay one and go into default. But the best part is that your 20 percent debt is now transferred over to a credit card charging you zero percent.

Just by doing the balance transfer described in our little example, we saved 20 percent of $3,000 – which is equal to $600. Plus we simplified our budgeting and household accounting and check paying, which saves times and eliminates hassles. So if you want to take a bite out of your debt in 2010, consider doing a smart balance transfer. You could save hundreds of dollars in a matter of minutes.
Offshore Pro Group

Credit Card Limits: What’s typical and how are limits calculated?

2010-05-23T13:36:00.001-07:00

Every credit card has a limit on how much the cardholder can spend each month without incurring extra fees and penalties. In other words, each credit card has a credit ceiling on how much can be purchased against it, charged to it, or borrowed from the account in a given month. Exceed that limit by, for example, spending more than the stated limit and the credit card company will hit you with a fine. Keep going too far over the limit and eventually the card company may lower your limit even further while also reporting your behavior to the major credit history agencies – which will result in a lower overall credit score or FICO score.

So it is to the consumer’s advantage to have a higher credit ceiling. While typical credit card customers with a major card like a Visa or MasterCard usually start off with credit limits of $500-$1,500, others customers have credit limits that are 10 to 15 times higher than that. When you first apply for a credit card, the card issuer will study your credit report and other information regarding your income, debts, and financial liabilities like mortgages or car payments. Using that data they will do calculations to determine how much of your monthly income is spent on paying your bills – and how much of it is left over after all your obligations are paid in full. In other words they try to predict how well you can budget your money, and how much extra money you have left over. Based on those calculations they will offer you an amount of credit – or a credit limit – that they think is reasonable. They want you to use your card but they also want to ensure that you do not default or miss a payment.

Once your credit limit is established, however, you can prove to the card company that you are ready to have a higher limit by paying your balance on time each month. Do that and every six months or so the card company will raise your limit. The limits are often raised by $200 or so at a time, so over a period of 10 years of good payment history your limit might go from $1,500 to $6,000. Sometimes you can also get your limit raised by transferring a balance from another credit card. So, for example, if you transfer $2,000 to your card from a competitor’s card, your card company may agree to raise your credit limit by $2,000. Combine balance transfers with a solid payment history and you, too, may wind up with a $25,000 credit limit – which is unusually high but not impossible to achieve.
Offshore Pro Group

Deciphering Tricky Cash-Back Rebate Card Terms

2010-05-22T13:31:00.001-07:00

These days consumers are watching their expenses more carefully than they have in decades, and any opportunity to save a few dollars is greeted with eagerness. Credit card issuers know what makes consumers tick, and these days they are using their marketing campaigns to appeal to the urge to save while Americans struggle to pay their bills. But credit card cash back programs, rewards card offers, and advertisements for the newest and most exciting rebate card should be read carefully before signing up on the dotted line. That’s because many of these offers have contingencies or terms that need to be met in order to qualify.

Some rewards come in the form of gifts or merchant discounts, for example, but those will only be valuable to you if you shop for those items or with those particular retailers. Other rebates kick in after an introductory period or only if your spending limits reach a certain amount. Then there are cards that offer a higher percentage of rebate or reward for specific categories of purchases – but in other categories the perks are less. Card companies naturally emphasize the topmost rewards and highest values in advertising, so the prominent reward or percentage in an ad or mailed offer may only apply to some situations, while the average rebate is smaller.

Almost all of them offer perks, for sure, and many are rewarding and valuable. But to make sure you get the right card for your particular needs, be sure to read the smaller print. Thanks to new federal rules and regulations regarding transparency and clarity, that smaller print may have gotten a few font sizes larger in recent months. The consumer protection laws have forced card issuers to be more up-front about the terms of their agreements, and they are starting to use more user-friendly language. So generally speaking card statements and offers are now easier to comprehend. But smart consumers are choosing their credit cards carefully and avoiding the habit of carrying lots of different cards. So if you are searching for the ideal rebate card for your spending and savings needs, read the entire offer and the small print so that you can make a wise and informed decision.
Offshore Pro Group

Is a Free Credit Card Too Good to Be True?

2010-05-21T14:11:00.001-07:00

Just as the old saying goes, there is no free lunch in this world. But there are freebies attached to credit cards – including perks like no annual fee or yearly membership. These so-called free credit card deals may not be completely free of charges – such as interest you still have to pay on any balances you carry forward from month to month – but when it comes to owning a credit card one with no annual fee is as close to a free credit card as it gets. Pair that free yearly membership with a competitive interest rate – or a low or zero introductory rate deal – and you have a formula for a really attractive credit card.

Keep in mind that some cards that do charge an annual fee may have other benefits that can help to justify the cost of your yearly membership. Many rewards card, for example, like those that are connected to an airline frequent flier program may carry an annual fee. But if your rewards outweigh the cost of enrollment, then it may be worth it to you. Otherwise you will want to search out cards that are really and truly free credit cards with no annual fee – because unless you are getting some special perks there is no reason why you should have to pay for the privilege of carrying plastic around in your wallet.

Study the small print whenever you get a free credit card offer to determine whether it is a permanent offer or one that has an expiration date. Many cards will start you off for free, for instance, but maybe after the first year you will start to be charged an annual fee. Others will charge a one-time enrollment fee when you first get the card, a practice that is common with cards offered to people who have poor credit.

But if you have decent credit and plan to hold on to your card and rely on it for years to come, you might be better to keep shopping around. There are literally hundreds – if not thousands – of great credit cards that never charge any enrollment fee or yearly membership at all while the still offer great rates and benefits.
Offshore Pro Group

Credit Card Rewards Programs: Good reasons to say “charge it”

2010-05-21T14:10:00.001-07:00

There are many different types of credit card rewards programs that will pay you back with money or other incentives in exchange for you using your card to pay for merchandise or services. Pick one that is appropriate to you based on what you buy the most often, and you can wind up saving a great deal of money – or getting lots of free perks or discounts – just by using your rewards card.

Let’s say, for instance, that you are a constant traveler who spends lots of money every year on airline tickets, rental cars, hotels, and out of town meals. Pair those spending habits with a good rewards card that tailors its incentives, rebates, or other credit card rewards to the business traveler and you may reap some really advantageous benefits.

Or if you are, for example, a truck driver or sales person who spends several hours each day driving from one customer or drop-off destination to another, you might be an ideal candidate for a gasoline credit card rewards program. These may pay you rebates or credits based on how much gas you buy or money you spend, or they may reward you for buying a particular brand of gasoline.

Some cards will even do innovative things such as entering you into a lottery type contest as their unique credit card rewards program. Get lucky and you might win a huge amount of money. There are cards that cater to people who support charities, too, and if you use those kinds of cards you might get rewarded not directly but through a program that automatically donates part of your credit card totals to your favorite non-profit organization.

The range of possibilities is huge, so if you want to earn cash back through a rewards card or get other types of credit card rewards as a bonus or incentive for being a loyal, active, and good credit card customer then shop around for a rewards card or cash back program that appeals to you and rewards your kind of spending patterns or shopping preferences.
Offshore Pro Group

Prepaid Credit Card Frenzy: Why they are so hot in 2010

2010-05-20T15:19:00.001-07:00

The market for prepaid credit cards is one of the fastest-growing segments of the multi-billion dollar credit card industry, and it is expected to continue to swell in 2010. Much of the reason for this surge is that prepaid credit cards are being marketed and advertised much more effectively – even being issued by famous pop stars whose logos appear on the cards as a kind of status symbol perk.

But the biggest fuel behind the prepaid credit card boom is, unfortunately, bad credit. Those who have bad credit due to a credit history that involves bankruptcy, mortgage default, or some other major problem cannot get traditional credit cards. During the recession millions of people found themselves suddenly in that unfortunate situation. And without a credit card it is not just inconvenient but sometimes hard to do simple things like rent a car. So people turn to prepaid cards as a way to get some plastic in their wallets until they have a chance to get their credit histories and finances back on track.

With a prepaid credit card you establish your own credit history, basically, and you decide for yourself what your credit card charge limit will be. In that way these cards can be very empowering – especially for those consumer who are sick and tired of being turned down for credit at banks and other financial institutions. The way the prepaid card works is that you deposit cash into an account, and that reserve of cash is used as your line of credit. You can charge on your card, make purchases with plastic, pay bills via credit card, or perform other typical credit card functions just as you would do with a conventional credit card, but only up to the amount that you have on deposit. Once the cash you prepaid into the account is used up, the credit card is also used up and will not function for you anymore.

So prepaid lets you control your finances because you determine when and how much to put on deposit to back up the plastic. Used wisely these card can be both convenient and helpful because you have the freedom of a credit card paired up with the responsibility that comes from managing money intelligently. Use a prepaid to shop, but also use it to improve your credit history so that you can eventually graduate to a full-service credit card.
Offshore Pro Group

Tips for Finding the Best Prepaid Mastercard Card

2010-05-20T15:18:00.001-07:00

With the guide to prepaid cards we provide you will be able to compare the different offers of a prepaid Mastercard card in the market and find out the issuer offering you the best prepaid Mastercard card out there.

A prepaid MasterCard card is a card that is pre-loaded with money, specifically your own money. You can use this on any retailer or establishment that accepts payment via MasterCard cards. It works basically the same ways as a credit card but without the credit.

Credit card and prepaid MasterCard can be somewhat confusing and misleading. The difference between the two is that with a prepaid MasterCard card, you are already paying for the service or product and not through credit. This is because every time you are using a prepaid card, you are actually immediately spending the money stored in the prepaid card account thus you are already paying for it, thus, avoiding being in debt and the high interest rates that come with it.

Here are some advantages and reasons on why you should use a pre paid card:

The increase of identity theft and the chances of getting your cash stolen, it is more practical to just put all your money in a prepaid card because if stolen you can report it to the card company and they will replace the stolen value.
Prepaid cards could work a lot like gift cards with a few perks that makes it better, plus anyone can apply for it and get approved immediately.
It can be used at almost anywhere as long as they accept card as payment
A prepaid card acts like a credit card. It allows for online shopping, buying gas, and even in restaurants that accepts MasterCard. Transactions via phone are also possible.
If you have a bad credit record this is an ideal option. The fees are not that difficult and it could also help you build good credit profile since you can start all over again. If you are having problems applying for a credit card because of your record, it will be easy to apply for this card. No credit background check is done for prepaid MasterCard application.

There are two ways for applying for best prepaid credit cards. You may apply at a provider’s outlet (depending on your location) and you may also apply online. There are several brands of prepaid MasterCard cards. It will be better to check if the specific brand that you have chosen is available in your area.

If you are the type of person who want to have the perks that credit card holders have but does not want to be burdened with the problems that comes with it such as high interest rates, credit debt, and a long process of credit background check, then a prepaid credit card is really a good choice.

This option could also help you discipline yourself in your spending habits.

Another good benefit of this is that you can have your salary deposited to this account which makes your life way simpler. You may also pay your bills using your debit card which makes these transactions easier and more secure.

Although pre paid cards help in making you debt free it also comes with responsibilities. Remember that every time you swipe your prepaid Mastercard card, it’s just like paying by cash. The money in the prepaid Mastercard card is just equal to the money that you pre-loaded.

Offshore Pro Group

ATM Debit Card

2010-05-20T15:15:00.000-07:00

A brief introduction to the ATM debit card:
ATM(Automated Teller Machine) debit card is a multifaceted, powerpacked globally accepted plastic debit card which enables one to access ones account from anywhere. The ATM debit card may have either the Visa or the Mastercard logo embossed on it.
The ATM debit card

is linked to an account from where the fees or charges are deducted as the transaction demands. The ATM debit card has the name of the debit cardholder embossed on the debit card.

· Withdrawal limit and Cost:
The maximum amount which one may withdraw per day is not more than $500. The cost of an ATM debit card is usually $150. The money is denominated in US Dollar.
· Working of the ATM debit card:
Whenever a transaction is processed on entering the PIN (personal identification number) the ATM debit card number is sent to the bank issuing theATM debit card where it is verified for the authenticity of the transaction as well as for the availability of funds.
The bank checks for the availability of funds. If there is sufficient fund the bank replies the same and the ATM debit card holder is able to carry out the transaction. In the event of non availability of fund the message of “Insufficient Fund” is displayed on the screen.
· Maintaining the confidentiality:
Only the bank is aware of the details of the transaction which it is not permitted to divulge. So, inspite of the name being embossed the confidentiality of theATM debit card bearer is maintained because the ATM debit card number is taken into account and not the name of the ATM debit card holder.
· Usefulness:
The ATM debit card is useful in the following ways:
Withdrawal: One can withdraw money from anywhere, from any Visa or Mastercard terminal with the help of one ATM debit card.
ATM debit card allows an individual to deposit money from any Visa or Mastercard terminal available.
With the help of the ATM debit card one can transfer cash from one place to another in no time.
Information on the available balance can be viewed by accessing any Visa or Mastercard terminals with the ATM debit card.
The details of all the transactions taking place using the ATM

debit card is made available to the ATM debit card holder by means of the statement generated by the issuing bank of the ATM debit cardholder.
Time taken for any transaction is much less because entering a PIN( personal identification number) is always faster than writing a cheque.

Offshore Pro Group

Offshore Debit Card: the Solution to Bank Account Freezing

2010-05-19T13:19:00.001-07:00

The savagery of the global financial crisis has had its great toll on everyone, changing their very way of life. Massive inflation, rising commodity prices and mass layoffs have made each day a fight for survival. The simple tax on bank accounts that was previously being ignored by the taxpayer has now become very material, as every cent counts in these harsh times. The tax someone pays just to keep his money in the bank is suddenly heavy for the pocket.

Even having cash in bank is no longer a guarantee for having enough money when you need it, as stricter legislation and restless financial institutions may very well have your bank account frozen. Simple mistakes may now cause you proceedings to have your bank account frozen and restricted from withdrawal or use. And a frozen bank account is just like having no bank account at all.

Personal security with our offshore debit card is also guaranteed because of our data encryption utility, which reduces the risks of identity theft when your funds are being drawn out of your virtual safe to almost zero. The data you enter also goes through a strict verification process to check its compatibility with your transaction history. Any unwanted intrusion from anonymous third parties will also be blocked by our account-locking system thus preventing any suspicious attempts. Any questionable attempt will be sent to you in full detail, asking your opinion about the matter at the same time. Your financial security and convenience are out utmost concern.

Offshore Pro Group

Debit Card Offshore

2010-05-19T13:18:00.001-07:00

When you have an offshore debit card, you have placed your money with an offshore bank and can use the debit card to have access to your money. If you have an offshore checking account, having a debit card associated with that account gives you quick and easy access to your money. Before obtaining an offshore debit card, you should make certain you will be able to use it in your own country. Otherwise, having the debit card would be useless.

Maestro and Cirrus are two of the largest international interbank network. Most ATMs feature either one or both of these logos indicating that your offshore debit card can be used at this ATM. Ensuring that your offshore debit card has one of these logos is the best way to know that you will have access to your money.

It is important that you do your due diligence before placing your money in an offshore account and obtaining an offshore debit card. There are a great number of institutions and products available in other countries. The responsibility of checking out these offshore institutions and products is yours. You should check out the institution with local regulators as much as possible. Make sure the institution is a licensed bank or trust. Find out how long the bank as been in business and how long they have offered offshore debit card. You can also check with Visa or MasterCard to find out more about the institution. By doing this due diligence, you can have the peace of mind that your money is safe.

Find out how of your money is protected and how. For example, in the United States, up to $100,000 per account per institution is federally insured. This means if the bank happens to go bankrupt, or some other calamity occurs, the federal government will cover your loss, provided it is $100,000 or less. Does the bank abroad you are interested in have such insurance? If not, you face the risk of losing all the money you have in the account.

Make sure you fully understand the costs associated with obtaining the particular debit card. You could end up paying account maintenance fees, ATM withdrawal fees, and transaction fees to name a few. The fees charged will vary depending on the institution from which you obtain your offshore debit card. If possible, get the fees in writing for your records.

Offshore Pro Group

Teaching Young People about Finance through Prepaid Credit Cards

2010-05-17T15:13:00.000-07:00

Parents are always looking for innovative ways to teach their kids about financial responsibility – especially these days when the average college student leaves college with 5-digit credit card debt and teen budgets can go haywire during just one short trip to the shopping mall. But with the advent of many new types of prepaid credit cards, parents are finding that using a prepaid card – which has a fixed credit limit – is a great way to help kids learn about credit card responsibility.

Think of a prepaid credit card as a financial bicycle with training wheels or a long leash to rein in spending. One of the biggest challenges when teaching a young person about finances – especially credit card debt – is to figure out how to balance financial freedom with budget limits. If you don’t give the child freedom to make their own money management decisions they will never learn how to be responsible with a budget, but if you give them too much slack they may get into financial trouble – and could even wreck your credit along the way.

Prepaid credit cards eliminate those factors because you cannot go over the limit on a prepaid card, and since it is backed up by cash in an account you cannot misuse the prepaid card in a way that will mess up your credit score. Meanwhile you can use it to build credit, so if a teen does a good job of using their prepaid credit card wisely they can earn the right to have their own real credit card – by earning a good credit rating that will start them out as an adult on a solid financial foundation. Good budget habits are rewarded in ways that the teens can clearly see and understand, but there is so much less risk than you can potentially incur by just letting a kid be one of the signers on your own Visa or Mastercard account. In that way the prepaid credit card is really like good training wheels because it is safe but helps the young person learn to navigate their own way in this credit-conscious world.
Offshore Pro Group

How do prepaid debit cards differ from bank debit and ATM cards?

2010-05-16T14:06:00.001-07:00

How do prepaid debit cards differ from bank debit and ATM cards?

When banks first began issuing ATM cards in the 1970s, debit cards had very limited utility unlike their counterparts, credit cards, which could be used almost anywhere. Consumers could only withdraw cash from the automatic teller machines -- usually on premises at their bank. Later came other functions such as checking bank balances, transferring money between accounts and depositing funds after hours. Bank debit cards have always required the use of a personal identification number (PIN) to access funds or perform other transactions. Certain merchants began accepting debit cards for point of sale transactions in the late 1980s, notably supermarkets, convenience stores and gasoline retailers. These transactions still required the input of a PIN via a keypad used by the consumer. The settlement process involves transferring cash from the individual's checking account to the merchant's account.

The debit card world changed dramatically when Visa and MasterCard credit card associations entered the arena and teamed up with banks to issue bank debit cards and prepaid debit cards with the Visa and MasterCard credit card logo. This allowed PIN-less debit card transactions to occur and provided worldwide acceptability to debit cards as with Visa and MasterCard credit cards. Visa and MasterCard had figured out a way to make money from merchants when consumers paid for goods and services through their checking account. Consumers were happy because they could have much of the utility of a credit card without having to worry about going into debt (although it required discipline to write down the charges to keep the

checking account balanced). And lastly, merchants were happy because they could avoid dealing with losses from bad checks -- by paying a percentage fee for each sale to the card associations.

Bank debit (also known as check cards) and prepaid debit cards differ from bank ATM cards in that they do not require use of a PIN to access funds, unless the customer is using an ATM to withdraw cash. A prepaid debit card also has a credit line equal to the amount on deposit with the card company, so it is a pre-funded credit line rather than a borrowed credit line. Debit cards draw funds from a bank checking account and prepaid credit cards draw funds from the money "loaded" onto the card beforehand.

Prepaid debit cards carry the Visa or MasterCard logo and are accepted worldwide as with normal credit cards. These cards are a good option for those with insufficient credit history or impaired credit because they do not require a credit bureau check to be approved. The traditional un-banked populations in the United States have proven to be a tremendous growth area for these products and should continue to fuel growth over the next decade.
Offshore Pro Group

How to Choose the “Best” Credit Card

2010-05-16T14:05:00.003-07:00

The best-known credit cards in the U.S. carry the name of Visa, MasterCard, American Express or Discover—the Big Four. But Visa and MasterCard cards are not actually issued by either Visa or MasterCard. They’re issued by more than 20,000 individual financial institutions (mostly banks) that are licensed to do so. And each card issuer sets—and often changes—its own rules and rates in regard to finance charges, fees, benefits, credit limits, application approval, account restrictions or cancellations, etc.

With so many different cards to choose from, and so many recent changes throughout the credit card industry due to the recession and federal government intervention, it’s more difficult than ever to choose the “best” credit card. It could take you weeks and much effort to check out every credit card by yourself, and you might overlook a number of cards that are unknown to the general public.

Fortunately, our website can be of help. As you explore our website, you’ll see that we’ve made it easy for you to express your needs, wants, credit situation and other variables, so we can recommend which card is best for you, right now.

Are you primarily interested in a low interest rate, balance transfers, instant approval, reward or cash-back programs, airline miles, a high credit limit, a prepaid debit card, a student card, a card for business use, a gasoline card, a card for world travel, no annual fee, a decent grace period, a card for use at ATM machines...or something else? Is your credit very good, bad, or somewhere in between? Would you like a card that will impress others?

When comparing cards—and we’ve made it very easy to do so— keep these suggestions in mind:

1. Don’t just look at the introductory “teaser” rate, if there is one, and ignore the other data. After the specified period (which might be only a few months), the regular rate will kick in, and it could be much higher than cards without an intro rate.

2. If both you and your spouse are considering a new card, you might want to apply to different card issuers, to help control your use of credit. If you both use the same card (i.e., one account with two actual cards), it’s all too easy to inadvertently exceed your credit limit and be hit with over-limit fees, or have your card rejected when trying to use it.

3. If you run a small business, it helps to have a separate card only for business-related purchases (unless that’s prohibited by the card issuer). It will help you keep track of expenses and at tax time.

Once you’ve narrowed down your card choices, just follow the simple directions, and in seconds you’ll find out which cards are the best for you. There’s no charge—now or ever—for our services!
Offshore Pro Group

Credit Card Tips for Travelers

2010-05-16T14:05:00.001-07:00

As the famous credit card advertisement advises, “Don’t leave home without it.” Traveling light is the name of the game, and nothing lightens the load like a thin plastic credit card that can replace cash and traveler’s checks while also making financial logistics a cinch while you’re far away from home. But before you embark on your next trip, it is good idea to first make sure that you have the right card – and the appropriate procedures and precautions in place – to ensure smooth sailing and safe, easy access to your cash.

First of all, make sure that you have a system in place to pay your monthly credit card bills. Otherwise regardless of how carefully you plan your trip you may wind up unable to make timely payments, and that will add fees, penalties, and damage your credit score while potentially leaving you unable to use your card because of an overdue balance. Next, make sure your card is not going to expire while you’re still on the road. If that happens you may have a worthless card in your pocket while the new valid one sits collecting dust at home in your mail box.

Sometimes carrying an ATM card tied to your bank checking account is the most convenient plan, but depending upon your circumstances and financial situation you may want to just you a credit card – or take both pieces of plastic along for the ride. Regardless of which cards you decide to take, always find out if your card is accepted in the places you intend to visit. If you aren’t sure, ask your card company, bank, travel agent, or a travel information office located in the city or town you plan to visit. While you’re at it, make sure that your personal identification number or PIN is updated so that you can use the card to access quick cash from ATM machines.

Last but not least, make photocopies of any cards you intend to pack along on the trip, remembering to copy both sides of the card. Give one photocopy to a trusted friend or family member so that they can retrieve your card information if your credit card is lost or stolen. Put the other one in a safe place and take it with you, but do not stash it in the same place as your actual cards. If you carry cards in your wallet, for instance, carry the photocopy someplace else or leave it locked in a hotel safe. That way if your wallet is lost or stolen you will still have copies of the cards elsewhere, and that will help you immensely when it is time to contact your credit card company and get a replacement issued and sent to you.
Offshore Pro Group

Four Quick Tips to Avoid Financial Fraud in 2010

2010-05-15T06:41:00.001-07:00

During any economic downturn the prevalence of fraud increases, and in 2010 consumers need to be more vigilant than every about various scams to steal their money, financial identities, or both. Here are three ways to help protect yourself and your bank and credit card accounts from thieves and criminals intent on sabotaging your savings and taking advantage of your good name and credit history.
Invest in a Paper Shredder
Old bank statements, canceled checks, purchase receipts and various other financial documents may be your trash, but they are a con artist or thief’s gold mine. Buy a shredder and use it to shred up all documents related to your finances or other personal information, otherwise they may be plucked from your garbage or even from a public landfill and used against you.
Check your Credit History
Without paying for it you can order a copy of your credit report once a year and review it for discrepancies, mistakes, or evidence that someone else is tampering with it. Take advantage of this opportunity – otherwise someone with bad intentions may take advantage of you.
Guard Passwords and PINs
Once a thief has your password on personal identification number they can burrow down deep into your personal data and – if they are so inclined – wreak havoc on your finances or steal you blind while you aren’t even looking. So protect vital info like passwords by never writing them down and frequently updating them and making them harder to figure out or decode.
Beware of Phishing Schemes
One of the easiest ways to steal is to send you a notice by email that looks just like it came from your own financial institution. Cyber criminals can even use the same logo or create a fake website to convince you, but you should never reply to an email asking you to reply with any confidential info such as your social security number or account password. If you get an email and cannot tell if it is legitimate or not, just phone your bank or credit card company instead.
Shredding and guarding in 2010 could save you from a really damaging victimization by a financial fraud scheme, so be alert, follow common sense guidelines, and then enjoy a more stress-free and safe 2010.
Offshore Pro Group

Get a Credit Card Despite Terrible Credit

2010-05-15T06:39:00.000-07:00

Even if you were turned down for a credit card or have such bad credit that nobody will lend to you, it is still possible for you to get a valid credit card. That’s right, even if everyone has rejected your credit card applications the chances are extremely high that you can walk into your local bank and walk out with a brand new MasterCard or VISA Card that will work credit cards are accepted. Use it for groceries, to buy gas, to shop at the mall, to purchase souvenirs while on vacation, or to rent movies or pay for a fancy meal in your favorite gourmet restaurant.

The kind of card you want is a “collateralized” credit card, because it has collateral or actual cash to back it up in the event you fail to repay your balance. Ordinary credit cards, on the other hand, are not backed by anything but good faith – which is why lenders and credit card issuers will not grant you one unless they think you have a strong record of repaying your obligations. But if you get a collateralized credit card it will be tied to your checking or savings account in much the same way that an ATM card is connected to that kind of bank account.

Your bank will put a limit on how much you can spend based on how many dollars are held in your matching bank account. Put $500 in the credit card bank account, for example, and your bank will typically issue you a credit card with a $500 spending limit. As you spend money during the month, the limit shrinks – just as it does on a conventional credit card – and when you repay the card by paying off your outstanding balance then the limit goes back up. The major difference is that with money in the account to back up the credit card you are able to get a VISA or MasterCard when you would otherwise be totally refused and rejected.

The best feature of these unique credit cards, however, is that they give you a way to build up your credit rating. Once you get one and start using it responsibly, make sure your bank reports the account activity to the major credit rating services on a regular basis. Before long you will have good enough credit that you will be able to apply and get your own traditional style non-collateral credit card, even if you were rejected in the past.
Offshore Pro Group

Credit Cards for Kids: Some have way-cool parental controls

2010-05-15T06:37:00.000-07:00

Teaching your son or daughter how to manage money is an increasingly important aspect of good parenting, and if you choose the right kind of credit card you can get some help from your card company. That’s because many credit card issuers offer special products in the form of credit cards that have built-in parental controls.

You get the peace of mind and confidence of knowing that you child will not be able to misuse or abuse the card – which could destroy your own credit rating and create havoc. You also get help teaching your kids how to use a credit card in the grown-up world of modern finance and commerce. They can learn safely and securely, because even if they accidentally slip up and make an innocent mistake – like going over their spending limit – the automatic card controls will kick in and save the day.

These cards put the son or daughter on your own credit card account as another card user or cardholder, which makes it easy for them to get a card even if they are still too young to have a credit history or good credit score. But since you are being exposed to liability by having them on your account, the credit card features also offer various types of protection. You can set the limit for how much the kid is able to withdraw at one time, for example, from an ATM machine. If they go to the ATM and your imposed limit is $25 per day and they try to withdraw more than that, the transaction will be blocked.

But you can also sign up for e-mail alerts, which are super-cool. Let’s say your child has a spending limit of $100 but they try to get access to $150. You will get an email within 24 hours telling you all about it. If they try to use the credit card in designated places that are inappropriate, you can also get notifications about that kind of behavior. Your son who is 17 tries to use the card to rent a car, a hotel room, or pay to get into a place where only adults are allowed and not only is his card usage stopped but you get notified. Your daughter tries to use the credit card in a restaurant to buy alcohol – even though she is under age – and you find out with a convenient e-mail. The features vary from card to card, and you can choose among those that offered to set your own menu of preferences.

So instead of being afraid to let your child have a credit card, take advantage of these great features to train your child to be a more responsible and savvy consumer. It is a lesson that will reward them for the rest of their lives.
Offshore Pro Group

How are Debit Cards Different from Credit Cards?

2010-05-13T15:23:00.001-07:00

People often ask what exactly are debit cards and how have they managed to grow in popularity so much since the credit crisis began. Also commonly known as ATM cards – since they can be used in these automatic teller machines to gain access to bank checking or savings accounts – debit cards are a versatile and handy type of plastic and they share many characteristics with ordinary credit cards.

But while a credit card can be used to carry a balance as a revolving line of credit, a debit card can only be used to take money directly from a deposit account – like a savings or checking account – that has money in it already. In other words it can debit an existing source of cash, but cannot be used in place of cash as a means to borrow money you do not already have in the bank.

That feature limits the ways that debit cards can be used, of course, but it also puts limits on how much they can be misused or abused. You can only buy what you can already afford to pay for, in other words, whereas with a credit card you may get into trouble by spending money one month that you are unable to repay when the bill arrives the following month. For that reason debit cards have actually grown in popularity since the start of the recession and credit crisis, because people can use them to make purchases instead of carrying cash, but they cannot use them to take out loans or buy things with money they do not actually have in the bank.

When they were first created, most people used their bank debit cards only at ATM machines, like when the bank lobby was closed or they were traveling out of town. But because a debit card can also be used in place of a Visa card or other credit card, they have now become much more popular as a less risky alternative to the traditional credit card. They offer the convenience of plastic carried in the wallet, in other words, without the option to use them irresponsibly and wind up going way over your realistic budget.

And for those whose credit has been damaged by the credit crisis – and who now find it impossible to get a credit card application approved – the debit card is simpler to acquire. You do not have to have a great credit score to carry an ATM card and you don’t have to fill out complicated applications forms. All you really need to do is open a bank account, which is something that even people with bad credit are often able to do with no problem.
Offshore Pro Group

Using Prepaid Credit Cards to Manage a Tight Budget

2010-05-12T07:58:00.001-07:00

Prepaid credit cards – those that don’t have a line of credit or credit limit established by a card company but are instead based on how much cash the cardholder keeps on deposit in the card account – are gaining in popularity faster than any other kind of credit card. That’s mostly because they can be easily gotten even by people who get turned down for other more traditional types of credit cards. Even with bad credit, a bankruptcy, a foreclosure, or little or no income and assets it is still possible to succeed at getting your own prepaid credit card, and it works anywhere that major cards like Visa and Mastercard are accepted. But what many people do not realize is that the prepaid credit card is also one of the best tools you can use to help you manage your budget and personal expenses.

To use a prepaid card as a budget tool, first create your budget. Figure out how much money you have to spend, what your main expenses are each month, and how many dollars you have to spend in each category such as gasoline, rent, groceries, and so forth. Then get a prepaid card and deposit your monthly budget amount into that account. You then can use the card for those expenses, and you’ll be forced to manage the card in such a way that it does not run out before the end of the month.

You can even have more than one card – like one for groceries and another for car expenses. You can even get a prepaid card that lets you make payments online for things like your mortgage payment or rent, and once all of your big ticket budget items are designated and tied to a card, all you have to do in order to keep within your predetermined budget is to not totally max out the card until the month is over.
Offshore Pro Group

A Totally New Kind of Gold Card

2010-05-12T07:57:00.000-07:00

Everyone has seen the infomercials and newspaper ads about selling gold because gold prices are historically high. But while you may not be ready to trade in your high school ring or grandmother’s necklace quite yet, you can start investing in gold by applying for a new kind of credit card that has a credit limit determined by current gold prices.

A company by the name of Gold Solutions Marketing in Florida is the brainchild behind the gold card. But unlike the American Express gold card or other VIP cardholder cards that are gold, this one is backed by gold that is held in a special vault in Delaware. Your credit card is tied to that gold so that the precious metal acts like collateral, and then as a cardholder you are given a credit limit that is equal to about 75 percent of the value of that gold bullion.

Credit card activity will be reported to the credit bureaus just like with a normal credit card, and because gold prices continually fluctuate the card limit will be reviewed at least once a year and adjusted accordingly to keep up with the value of gold. That means that if there is a sudden spike in gold prices you could automatically get a much higher credit limit, but by the same token your spending limit could be curtailed if the price of gold plummets.

The gold that is deposited belongs to you, which means you have to buy it up front to set up the card. But if you later decide to close the account you are entitled to receive either a cash payment based on your gold’s price on that day or you can get paid in gold coins and will be given the same amount of gold you started off with in the account.

The gold card is a bit of a gimmick that is probably not ideal for every cardholder. But those who will benefit from it the most are people who own some gold bullion and also need a secured credit card because they have bad credit. They can put their gold to good use to get a card, start rebuilding their credit, and eventually qualify for a traditional non-secured card. Meantime their gold is in a safe place and will be returned to them if they decide to close the gold card account.
Offshore Pro Group

Frequently Asked Questions on Pre-paid Credit Cards

2010-05-12T07:54:00.000-07:00

Frequently Asked Questions on Pre-paid Credit Cards

What is a prepaid credit card?
A prepaid card looks like a credit card, but works differently. You can use it everywhere MasterCard is accepted, but you can only spend up to the available balance on your card. With a prepaid card, you load funds onto your Card and use that money to make purchases and get cash - you are not borrowing money from a bank or other financial institution.

How does a prepaid card work?
Your prepaid credit card can be used anywhere MasterCard is accepted, including ATM's. The cardholder signs for purchases and gets a receipt. Unlike a credit card, though, each purchase is deducted from the pre-paid balance on the card.

Where can I use my prepaid credit card?
You may use your prepaid card to make purchases at over 21 million locations worldwide, get cash back at over 600,000 ATMs nationwide, make online purchases, buy airline tickets, make hotel or rental car reservations, pay for gasoline at the pump and more!

How is a prepaid credit card different from a credit card?
The prepaid credit card looks like a credit card - it has the Visa or MasterCard logo and hologram -and allows the convenience of cashless purchases like a signature-based credit card, with no PIN input required at the point-of-sale. However, your card accesses pre-loaded money from an account you fund with your funding source(s).

As a prepaid card, there is no "line of credit" extended. This means that your spending limit is determined by the amount of money that you have loaded to the card. Best of all, because it's not a credit card, there are no finance charges, no late fees, and no accumulation of debt.

What are the advantages of the prepaid card over cash?
The safety of carrying a piece of plastic with access to your cash, versus carrying a fold of bills in your pocket, is pretty straightforward. If you lose the cash or leave it somewhere where it is stolen, it is gone forever. If you lose your card or leave it somewhere, unless you put your PIN code on your Card (which you should NEVER do), your money is still safe.

What happens if the card is lost or stolen?
You should call the customer service to report it missing immediately and you won't be responsible for any unauthorized transactions. Remember to keep your card in a safe place and never lend it to anyone.

How is a prepaid credit card different from a debit card?
It is actually a pre-paid, reloadable card and completely separate from the checking or savings account, or credit or debit funding source account(s) that you use to load money to the card. Spending ability is limited to the amount of money that you separately load onto the card and store in the card account. When you purchase an item with your card, the purchase amount is withdrawn from your card spending balance, and never directly drawn from a funding source account that you use to load money onto the card.

With a debit card, overdraft protection may mask the actual account balance, resulting in over-spending. You won't be able to use a debit card for making a reservation on hotels and rental cars.

Can the prepaid credit card be used at ATMs?
Yes, your card will work at ATMs. You can receive cash with your card and a PIN (Personal Identification Number). There is usually some withdrawal fee at most ATMs.

How can I load money to the Citi Cash Card account?
Depending on which prepaid card you have, there are several ways to add value to your card using the followings:

* Check, Cashier's Check or Money Order
* Wire Transfer
* Regular Credit Card
* Online Card Load
* Western Union and other fund transfer services

Are there spending limits?
The beauty of the pre-paid credit card is that you set your own limits. Your spending power is limited only by how much money is loaded onto the card, up to the card issuer assigned value. When the money is gone, you ust need to load more money to it.

Is a security deposit required to open a prepaid card?
No.

Will my prepaid credit card have interest or finance charges?
Because you are not borrowing money, you will not be required to pay interest or finance charges on your Card.

When I use my prepaid card, is the money taken from my card right away?
Yes.

What happens if I return something I purchased with a prepaid card for a store refund?
Just like a regular credit card, the amount refunded will appear as a credit on your card account.
What if there isn't enough money on my card to cover a purchase?
The transaction will be declined if you do not have enough money loaded on your card.
Offshore Pro Group

2010-05-11T15:31:00.000-07:00

An Offshore Debit Card enables one to access one's cash that is held in an account that is offshore or to put it simply in a country apart from one's nation of habitation. An Offshore Debit Card is similar to any regular Debit Card in all respects. The only exception is that an Offshore Debit Card provides the kind of confidentiality and privacy in the financial matters of a customer which are usually never provided by regular or "onshore" Debit Cards.

The exclusive advantages of the Offshore Debit Card that are provided by certain companies to their foreign customers are as follows :

· Offshore Debit Card by preference do not have names of customers engraved upon them

· As a result of the above, transactions involving withdrawal of cash from ATMs will not exhibit the name of the customer

· Personal details cannot be derived by anyone other than the bank or the organization that issued the Offshore Debit Card

· Offshore Debit Card at the same time is easily applied for and received requiring only an authorized proof of identity such as a passport or drivers license.

· The account that supplies the money

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for an Offshore Debit Card can easily be financed through cash, check, e gold, Western Union Money Transfer or any number of other options offered by the Offshore Debit Card provider besides international SWIFT transfer.

However all the above mentioned advantages come at a price which is above those charged on regular Debit Cards.

The Offshore Debit Card that one may finally decide upon can be one amongst the noted Debit Cards described below :

· Offshore ATM Card - A PIN based Offshore Debit Card accepted at ATM's all over the world.

· Offshore Virtual Visa - A prepaid Visa Debit Card with its usage limited to available funds. This Offshore Debit Card can be used for Internet transactions only and does not involve any finance or interest charges.

· Offshore Visa Electron - An Offshore Debit Card for purchases to be made in person, comparatively cheaper than any other Offshore Debit Card available.

· Offshore Visa Classic - An Offshore Debit Card claiming to provide the best available security, safety and anonymity enhanced by the PIN which may be personally selected by customers.
Offshore Pro Group

7 Benefits of Prepaid Credit Cards

2010-05-10T14:18:00.000-07:00

Benefits

Many families with teens and college students are choosing prepaid cards for the right balance of independent decision-making and parental controls.

* Spending independence - You can use prepaid credit cards just like regular credit cards. Just find what you need, hand your card to the clerk, sign your name on the receipt, get a copy of the receipt and your card back--and you're done.

* Convenience - Prepaid credit cards can be used everywhere Visa or MasterCard is accepted-at stores, gas stations, restaurants, theaters, in the mall and online.

* Budgeting - You figure out in advance how you'll spend it: spending can be controlled by how much money is loaded. In addition, prepaid credit cards provide a simpler way to keep track of money vs. carrying cash.

* Safer than cash - Unlike losing that twenty-dollar bill, with prepaid credit cards you're protected from unauthorized transactions if the card is lost or stolen. Cards can be replaced if lost or stolen.

* Teaching tool - Prepaid credit cards help you or your teens learn financial responsibility and good money management skills. Prepaid credit cards are a hands-on tool that teaches teens about finances in a controlled environment. You can monitor the balance and where the card is used either by going to your password-protected website and reviewing the transaction history and online statement in detail or by telephone.

* Security: If you are still uncomfortable giving the numbers of the card on the internet, the prepaid card is the answer. Since the card can be charged only up to the value of the pre-loaded fund, the thieves can not make an excessive charge using your card.

* Gift giving - Parent-approved gift givers can also fund the card for generalpurpose spending or with virtual gift certificates for merchant-specific spending.
Offshore Pro Group

Is the prepaid Visa or MasterCard for you?

2010-05-10T14:16:00.000-07:00

Who needs a prepaid credit card?

Prepaid credit cards are ideal for:

* people who want to limit their spending limit.
* parents who want to teach teens how to create a budget, manage money, and shop wisely.
* teenagers who don't have budgeting skills yet.
* people with damaged or no credit history
* people who don't want to go over their budget

Budget-conscious people:
Is your credit card bill getting out of control? If you need to contol your spending, the prepaid credit card can solve your problem. Because it's a prepaid card and not a regular credit card, spending is limited to the amount of money that's loaded onto the card.

Parents:
Parents are likely to give their children prepaid credit cards with a set limit instead of their own cards with a higher limit. Now you can teach your kids some lessons about spending and credit. The prepaid credit cards help you guide them toward responsible spending..

Students:
Ffor Students, prepaid credit cards provide the convenience of paying with a card while learning good money management skills. You get the independence you deserve, with the built-in spending controls of a pre-paid card.

People with bad or no credit history:
Getting a Visa or MasterCard has never been easier with prepaid debit cards. It offers one of the easiest ways to establish or reestablish the credit you deserve. Your approval is 100% guaranteed once you meet the above minimum requirement. There will be no credit checks or employment verification. Now You get the independence you deserve with the prepaid credit cards.

People looking for an excellent gift idea:
Prepaid credit cards are better than gift certificates because receipients enjoy freedom of their choice.
Offshore Pro Group

Prepaid Offshore Card

2010-05-09T05:12:00.000-07:00

Using Your ATM card in Europe

2010-05-09T05:11:00.000-07:00

It used to be that the savvy European traveler loaded up on free Traveler's Checks before getting on the plane, fully expecting to stand in a long bank line to cash them every few days. Not anymore. ATM use, once the value leader in money conversion for travelers, has all but decimated the Traveler's Check industry.

The bad news is that the banking folks noticed. Like in a loony cartoon you could imagine huge dollar signs popping into their eyeballs as they read the reports of money flowing out of European ATMS. Fees were quickly added to enrich the coffers. Still, although those fees have made it more expensive to use a credit or debit card to get cash from an ATM in Europe, it's still the least expensive and most convenient way to get local currency.

So don't be afraid to use your card to access cash at a European ATM. If you're looking for a card to use in Europe, check out the Currency Conversion fees (current as of May 13th of this year) by using the link in the box to the right. Then use our ATM Finder links to make sure there's an ATM where you're going (they are numerous; I've never had a problem getting money in Europe).
ATM tips and strategies

* Shorten your PIN. If your PIN is longer than four digits, you may need to get a new number. Many foreign machines don't like longer codes or letters in a PIN. You can get letters translated to numbers by asking your bank.
* Max it out. Making many small withdrawals increases the number of per transaction fees. Get as much as you can and stash it in a safe place.
* Don't get dependent. If you're nearly out of cash get replenished at the first opportunity-don't wait until you end up in a cute little burg with only 1 malfunctioning ATM. They do run out of money at times.
* Test it! Make sure your card works. Don't just rip it off its paper backing and stuff it in your money belt on your way to Munich--try it out in an ATM at home first.
* Know your numbers. Make sure someone at home who's accessible while you're on vacation has your credit card info. I mean someone you trust, of course. Make a copy of your card and take it with you--and keep it in a different place from where you carry your card.
* Take two, ya never know. Have a different card so that you have a backup. Make it a different bank so you'll have access to more machines.
* Watch out for weekends. There have been reports that some European banks don't update their databases over the weekend. That means that if you've withdrawn the max on Friday, you may not be able to get more money on that card until Monday morning.

Alternatives to the credit or debit card: Prepaid or Stored Value Travel Cards

One option that some people find attractive is the prepaid card. The principle is this: you plan your travel expenses, add a little for unseen expenses, and put that amount into an account accessible by the travel cards you order. You aren't borrowing the bank's money--you're just making your money available through ATMs.

Advantages of a Stored Value Card:

* No credit check needed, since you're using your own money.
* You can get cards for the whole family, and have control over the spending limits of each.
* Uninterrupted access to your funds if your card is lost or stolen when you take a second back up card with you.

The last word: What currency items I take to Europe

Ok, so you're all set for your attack on European ATMs. You've got a couple cards and a plan. Doncha feel just a little shaky about the whole thing?

I know I do. Sure, folks tell me there's always a functioning ATM in the airport. Why bring any cash at all? And traveler's checks--they're so, well, 90s!

I tend to bring a couple hundred dollars of the first local currency I'll encounter. Sure, in my bleary-eyed, jet-lagged state I could amble over to the ATM while my bags tumble off the conveyor belt and get money. It's just nice to know I can function in a country right off the plane, without any surprises.

I also take about 500 dollars worth of traveler's checks I get free of fees from my local AAA. I don't even try to cash them. They're just there for security reasons; it's a light backup. I usually end up spending them later in the US before they've gotten so soiled and wrinkled from being carried around you can't read them.

So that's it. Enjoy your trip to Europe. And be sure to tell us about it by posting a trip report in our forum.

Anonymous Credit Card guide

2010-05-09T05:10:00.000-07:00

The anonymous credit card is the one used for shopping online; it carries no name or identity on it. It is requested by people who seek the opportunity to shop and make transactions online but with secrecy. The card is issued by such financial institutes that allow a person to bear any name on these card. The matter of fact and interest to these financial institutes lies in the card number, its expiry date and the balance that the cardholder covers in the purchases made with his anonymous credit card. The charges made against this No Name card are on monthly basis. Beyond that, the name and the address of the card holder remain under cover. No printed statements are received at home, and thus the actual online purchases cannot be traced. More than one card bearing same or even different names can be used at the same time. The transactions will still remain secured and secret. The card number contains information like explanation regarding loading and reloading of the card, and the card's date of expiry etc.

An offshore credit card, being linked with an offshore bank account, works almost identical to the domestic cards. But are accepted in almost 14 million locations worldwide and provide cash advances like domestic at several ATMs and banking institutions around the world.

It is advantageous in the sense that it provides direct and convenient access to the holder's anonymous bank account. Also the expenses related to transfers have come down and become easier as compared to the earlier status where large amounts of fees were charged for the same.

There are two kinds of credit cards: secured offshore and unsecured offshore. Mostly all anonymous credit cards are secured. A certain amount has to be deposited for using such a card. One can enjoy almost all the privileges as provided by any other major card.

On the other hand, unsecured offshore credit cards are only issued to the well known clients of the bank. This is because of the divulged nature of offshore banking. Credit-checks and the risk involved in non-payment become too complicated at times. To avoid these kinds of troubles, the above said concept has been introduced by anonymous bankers.

One more concept aligned in this field is of pre-paid credit cards. It answers to the purpose of people who look for higher limits in their cards. It works similar to a debit card in some manners and to the credit cards in other. It serves as a better option in a few ways. Accessing of money on a bigger scale and unlimited monthly purchases, the holder just has to keep a small amount on deposit to cover charges. it offers more safety to money as it allows access only to that amount of money which is physically been loaded on the card which in turn limits the chances of losing money due to loss or theft of the card.

What You Need to Know About Anonymous Prepaid Credit Cards

2010-05-08T15:26:00.001-07:00

Welcome to the world, post September 11 - a world where the terrorists took many things from us, including the ability to easily find anonymous prepaid credit cards. Back in the day, you used to be able to get a prepaid credit card without even supplying your real name. Nowadays, it's hard to find one that doesn't require a social security number. We have stricter laws to thank for this - laws that are supposed to keep us safe from terrorists (but somehow affect our own freedoms at the same time). If you're wondering how to get access to truly anonymous prepaid credit cards, here are some things to keep in mind.

Why Would Someone Want Anonymous Prepaid Credit Cards?

Before we go into the "hows" of anonymous prepaid credit cards, let's discuss the "whys" of the matter. Some believe that only those with something to hide would want one to begin with. This couldn't be further from the truth.

Whenever you make a purchase with a credit card, your spending habits are tracked. Every movie you rent, every medication you buy - it's all there on display in some database somewhere. Do you really want Uncle Sam knowing what you eat for dinner, where you shop, what movies you watch and what you buy when you go to the mall?

Alas, there is often a legitimate need for anonymous prepaid credit cards and privacy is one of them. Some of us just aren't comfortable with the fact that every non-cash purchase we make can be tracked. It's not that we're doing anything wrong - it's just that it's no one else's business.

Of course, paying for everything with cash isn't always an option. Ever try buying something online with cash? Tell me how it goes for you. Sometimes the only solution to privacy woes is an anonymous prepaid credit card.

They Are Out There

If financial institutions are requiring names, addresses and social security numbers for prepaid credit cards, is "anonymous" a thing of the past? Not necessarily.

You can indeed find anonymous prepaid credit cards. They're just not wrapped up the same anymore. Companies like Visa and American Express now offer gift cards that work much the same way that prepaid credit cards do, but you don't have to provide personal information to buy or use them.

That being said, it's important to note that some prepaid gift cards are now requiring you to register them with a social security number. How do you get around this? Know which ones don't require this information. The American Express gift card is one of them. So is the Vanilla Visa gift card.

The Reload Issue

Some of these gift cards are re-loadable and some are not. Sometimes it depends on where you purchase them. If you want to use these as anonymous prepaid credit cards and don't want to keep changing your credit card number each time the balance runs out, make sure you get one with a re-load option.

Don't give up hope yet, my privacy-conscious friends. While getting anonymous prepaid credit cards isn't as easy as it used to be, it can still be done.

Offshore ATM Cards & Anonymous Bank Cards

2010-05-08T15:25:00.001-07:00

Offshore ATM Cards & Anonymous Bank Cards

Anonymous ATM Cards

Almost anyone who has told me that they are considering moving some money into an offshore bank account has outlined the following scenario for me:

A super secret offshore bank account, sitting in a tax haven offshore, cranking out tasty gains in the forex or offshore markets through an anonymous investment accounts while you conveniently, anonymously, and without adverse tax consequences, withdraw your money as you need it back in your own heavily taxed, first-world hometown through an ATM card.

Sounds good doesn’t it?

Well, unfortunately, if it were only that simple, no one, but no one would pay any taxes whatsoever, and the motivation to do any domestic banking whatsoever would be for only the smallest and most trivial of transactions.

That said, however, depending on your citizenship, country of residence, and the amount of work and research your willing to do, some or all of the above dream situation can be yours.

Before I get into this discussion, I should point out that I am in no way qualified to advise on *any* tax matters in any jurisdiction, and you’ll obviously be required to verify anything you read here with a competent *local* expert before acting on any of this. Ok, that out of the way, let me explain some of the issues/roadblocks that are likely keeping you from realizing your offshore banking dream.

First and foremost, you have to be aware that US citizens are liable for taxation on WORLDWIDE income…regardless of your country of residence even. For instance, even if you have been an expat for a dozen years and not set foot on american soil the entire time, each april 15, Uncle Sam demands his pound of flesh.

While there is a tax exemption on the first $80k/annum, this is only on “earned income” and really amounts to a tax break for corporations in their quest to place executives overseas….in other words it’s a nice “bennie” if you can explain to them that the first 80k is tax free.

If however, on the other hand you expect to secure your living from investing your own funds, you’ll need to be a little more creative to be totally above board and in compliance with IRS regulations.

This in the past could have involved forming offshore asset protection trusts, but nowadays it typically involves the setup of a more complex offshore asset protection structure and at least one offshore company formation.

Even once all of these pieces are in place, the tax authorities have become “wise” to the game of using bank and ATM cards to withdraw and repatriate money that is currently residing offshore, often in undeclared bank accounts.

If you are not planning on moving offshore yourself and will continue to reside in the high tax jursdiction while extracting offshore money from atms, bank cards, or an offshore credit card, most offshore service providers recommend “just “don’t do it”.

However, if you are dead set against ignoring this piece of advice there are a couple of things you want to be looking for:

First and foremost, if you are going to get a card with any name on it, make sure it is in the name of an offshore company at least. Better, if it is in the name of an offshore company in a jurisdiction with very strong secrecy laws, and/or bearer shares.

Better yet, is an anonymous bank card. This is a card that doesn’t carry an embossed name on it. There will be restrictions where you can use such a card, and they are a bit rare and difficult to find, but it is the safest.

Secondly, there are some well known cases in the offshore banking world where individuals ignored the advice of their offshore service providers and went ahead with using their “anonymous” bank cards while still living “onshore”. Unfortunately, these souls didn’t think to take the next step and avoid automatic teller machines (ATMs) with cameras attached.

The few ATMs which DON’T have cameras attached are generally the higher cost “bank machines” that are not affiliated with a particular bank that you see standalone in minimarts, truck stops, etc. While many of the said locations have their own camera facilities installed, the bank doesn’t have direct access to it and a record of your picture is not stored with every tranaction like the atm cameras.

Regardless of what you decide to do, making your own decisions on what to do to legally reduce your tax liabilities is a little like doing your own brain surgery. It’s always a better idea to seek out the advice of able, qualified experts — especially if you live in a jursidiction (like the US) which has criminalized the offense of tax evasion.

Offshore Banking and Acquiring Your Offshore Debit Card

2010-05-07T15:38:00.001-07:00

The global meltdown has led to a complete topsy-turvy of the entire financial scenario to even the most robust economies in the world. The brunt of the economic problems like inflation, joblessness and rise in prices has been the worst on the average man. There is no keep up of the same pattern of living for many as the entire world economy has rendered downwards.

Exaggerated spending and lavish lifestyles as well as not having to budget have turn out to be an old tale. It is imperative for everyone to have a financial plan in place and make use of even the smallest change one earns. To deteriorate the things, upward sloping curve of poor and unemployed attract more offense plus unrighteous activities. The safety of money has in fact become a herculean task. Many people are looking at the unusual ways to save their money and avoid paying taxes.

Due to the enhanced volatility in the banking sector it is no longer safe to have money in the bank account. This impact is because of the global slowdown. Also a frozen account will not allow you to remove any money from the account. In order to keep the savings secretive and avoid paying tax, this initiative of offshore banking has come up. The operations of these accounts are most secretive and there is no scrutiny by any government authority. Apart from not having any restriction these account are even best for tax purposes.

The main issue here is the process to gain access to ones funds from these offshore bank accounts. The card issued by the offshore bank is an intelligent and comfortable way to keep ones money. You will be able to have access to your money with the help of the offshore debit card to facilitate withdrawal and deposit from the ATM.

The objective of this card is similar to that of a credit card and even better. It could be used to make purchases, or for the cash withdrawals however they do not take intense monthly charges or higher interest rates. The holder of this card will not be able to utilize it over and above the limit like in the case of a credit card. The best thing is that the card has a limit on its withdrawal to the extent of the balance in the offshore account.

An anonymous debit card simply means that you don’t have to have your name printed onto it

2010-05-07T15:37:00.000-07:00

An anonymous debit card simply means that you don’t have to have your name printed onto it.

An anonymous debit card simply means that you don’t have to have your name printed onto it. You can either choose to have someone else’s name printed onto it, put it into the corporations name or even choose to have the card printed with no name on it at all. The choice is yours.

An anonymous debit card program will operate in the following way. Normally a card-issuing bank will issue the credit card either to a trust company or to a trust account held at the bank. A card reseller has the trust account held in an offshore bank in a different jurisdiction than the one where he is based in order to avoid any legal issues. The reseller is the one who has all control over the debit card and the money on it and will normally provide information online for you to have the ability to check the account and its transactions, balance, outgoings, etc. The actual money is held in the resellers trust account and he is the one who has the signatory power.

To obtain a debit card any other way requires opening up an offshore account and then applying for a debit card, however this method means that it will not be anonymous. Cards that are issued directly from the banks always have the name printed on the debit card of the signatory on the bank account. Offshore banks will also require different forms of ID and references before you can open an account and get a debit card from them.

Some agencies are able to set you up with an International offshore credit card, there is a VISA debit card with credit card facilities offered through leading International banks without having to obtain credit checks or bank references. They place great emphasis on client confidentiality. The card is given out with an offshore current business bank account from reputable International banks.

To qualify for an international offshore credit card it is necessary to have an offshore company already set up. With an International debit card you are able to cash money and view your account balance through an ATM, if it is marked with VISA/PLUS logo anywhere in the world. Money debited on this debit card can be taken out from over 855, 000 ATMs in 149 countries.

Money deposited in a debit account is much safer than carrying it around in your pocket and in the unfortunate circumstances that you should lose the card or have it stolen then the account will be frozen instantly.

When applying for the debit card the bank needs identification of the customer, but once the card is issued there is no name printed on it and so it is an anonymous debit card, this also means that it is issued immediately as there is no time to wait while your name is printed. These debit cards can be opened using both Euros and US dollars.

When you apply for the card there is no request for a guarantee deposit or opening payment to be made and if you are travelling overseas there is no requirement to show the information on the amount of money deposited on the card. When accounting in a foreign country there is no need to be concerned regarding the currency exchange as it is all processed automatically.

If you require an offshore bank account it is always a good idea to try and visit the bank yourself to set everything up, there are many offshore jurisdictions and there is very likely one not too far from your country of residence. This is especially important if you are setting up a business account and will be using the bank account frequently or if you are intending to deposit a large amount of funds. Check out where and who will be holding your money. Lastly, be aware that just because your bank account and company are offshore it doesn’t mean that you can carry out business in your home country or with fellow residents and avoid taxes.

Do You Know These Facts About Credit Cards?

2010-05-07T15:36:00.000-07:00

Primarily, failure to pay the total amount of your bills as incurred through your credit card results in the charge of an interest rate on the amount of money being owed; nonetheless, if you were to pay the complete money at the pre-determined time, you will not be charged with any interest rate. The lowest age of being able to own and also utilize a credit card is 18 , nonetheless, it also is different from state to state depending on their laws.

Debt collecting agencies are companies that were built for the sole intention of following up debtors and even getting them to pay their credit card bills; having these tenacious bodies or individuals hanging around your neck can be a demoralizing experience, if you do not pay up.

A credit card sales representative can take up the nuisance of filling an application form for a credit card, specially if you're an exceedingly busy person. The beauty about the credit card method is that it is realistic for everyone I know, even you, no matter what wage or condition; so don't be frightened of applying for a credit card.

If you are a super store owner or a business proprietor, looking to experience a boom in the sales of your services, you need to explore getting a credit card processing machine for the reason that the practice of paying for services with money is fast becoming out-of-date.

If you're a business owner, it is appropriate that you get a business credit card to pay money for all your transactions associated with your business, as this will make it trouble-free for you to trace your expenditure. When dealing with merchants online, you have to tread with ease before releasing information simply because of the presence of World Wide Web fraudsters who can turn your shopping experience online into an ordeal.

A credit card is a sort of piece of plastic card that can be electronically activated and also utilized to procure services or goods; it beats cash any day due to the fact that it reduces the fear of being robbed that comes with carrying cash.

In ending, it's easy to apply for a credit card in person, via an agent or on the Internet; the results are often similar as you will eventually hold a credit card that allows you to purchase whatever you want without the complication of counting dollar bills.

Are You Interested In Getting A Credit Card?

2010-05-06T14:52:00.001-07:00

First off, failure to pay the full amount of your bills as incurred through your credit card results in the charge of an interest rate on the funds being owed; nevertheless, if you were to pay the full cash at the pre-determined time, you would not be charged with any interest rate. The lowest age of being able to own as well as utilize a credit card is eighteen, nevertheless, it also is different from state to state depending on their laws.

Debt collecting agencies are firms that were built for the sole purpose of following up debtors as well as getting them to pay their credit card bills; having these tenacious bodies or people hanging around your neck can be a demoralizing experience, if you do not pay up.

A credit card sales agent can take up the trouble of filling an application form for a credit card, specially if you are an incredibly busy person. The joy of the credit card process is that it is attainable for everybody, including you, regardless of wage or status; so don't panic when applying for a credit card.

If you are a shop owner or a business proprietor, looking to experience a success in the sales of your services, you need to look into getting a credit card processing machine as a result of the fact that the practice of paying for services with cash is rapidly starting to be old-fashioned.

If you're a business owner, it's advisable that you get a business credit card to pay money for all your transactions associated with your business, as this will make it trouble-free for you to trace your charges. When dealing with merchants online, you have to tread with ease before releasing information simply because of the presence of World Wide Web fraudsters who can turn your shopping experience on the Internet into an ordeal.

A credit card is a sort of piece of plastic card which can be electronically activated and utilized to acquire services or goods; it beats cash any day simply because it reduces the fear of being robbed that comes with carrying cash.

To wrap up, it's possible to apply for a credit card in person, using an agent or online; the results are generally similar as you will eventually get a credit card that allows you to purchase whatever you want without the trouble of counting dollar bills.

Credit Cards Are They For You?

2010-05-06T14:50:00.001-07:00

Credit Cards Are They For You?

In opening, failing to pay the total amount of your bills as incurred through your credit card results in the charge of an interest rate on the sum of money being owed; still, if you were to pay the full sum of money at the pre-determined time, you will not be charged with any interest rate. The lowest age of being able to have and also use a credit card is 18 years, however, it also varies from state to state depending on their laws.

Debt collecting agencies are firms that were built for the sole intention of following up debtors as well as getting them to pay their credit card bills; having these tenacious bodies or people hanging around your neck can be a demoralizing experience, if you don't pay up.

A credit card sales representative can take up the worry of filling an application form for a credit card, particularly if you are an extraordinarily busy person. The joy of the credit card system is that it is attainable for everyone I know, even you, no matter what wage or condition; so do not be frightened of applying for a credit card.

If you are a store owner or a business proprietor, looking to experience an increase in the sales of your services, you have to consider getting a credit card processing machine for the reason that the practice of paying for services with money is speedily getting to be obsolete.

If you're a business owner, it's ideal that you get a business credit card to make payments for all your transactions associated with your business, as this will make it easy for you to trace your fees. When handling merchants on the Internet, you've to tread with ease before releasing information simply because of the presence of online fraudsters who can turn your shopping experience on the Internet into an ordeal.

A credit card is a type of piece of plastic card that can be electronically activated and made use of to pay money for services or goods; it beats cash any day for the reason that it reduces the fear of being robbed that comes with carrying cash.

To close up, it's easy to apply for a credit card in person, by way of an agent or on the Net; the results are frequently similar as you'll eventually hold a credit card that allows you to pay money for whatever you want without the bother of counting dollar bills.

What are the pros and cons of prepaid debit cards?

2010-05-05T15:27:00.002-07:00

What are the pros and cons of prepaid debit cards?

Prepaid debit cards began to take off in the 1990s as credit card company's realized that a significant portion of the U.S. population was not able to qualify for many of their credit cards. Even among those who did qualify a certain portion often defaulted on their outstanding balances and declared bankruptcy, which drove up losses. An early attempt to address this market need was in the form of a secured credit card, which involved having a credit line that was "collateralized" by an equal sum of money deposited with the credit card bank. During the first few years the secured card's credit line was set at 100 percent of the savings on deposit. Once a satisfactory payment history was established by the customer the bank would begin extending gradual amounts of credit beyond the savings total – sometimes up to 200 percent of the deposit. This way the bank was able to create a stable credit card customer who might not qualify otherwise and still limit their ultimate losses should the customer default.

Later variations of the secured credit card took the form of prepaid debit cards where funds were loaded directly onto a Visa or MasterCard prepaid debit card either at a merchant location or online with a bank which marketed the products. These products functioned just like a prepaid phone card and essentially just converted paper currency into electronic currency accessed via a plastic card. Prepaid debit card credit lines would always be set at the amount deposited and would be drawn down with purchases.

The advantages of prepaid debit cards include being safer than carry cash, worldwide functionality due to Visa and MasterCard merchant acceptance, not having to worry about paying a credit card bill or going into debt, the ability for anyone over the age of 18 to apply and be accepted without regard to credit quality and the ability to reload with any amount of money online, over the phone or at any ATM worldwide.

The disadvantages include the fact that you don't have the luxury of using a credit card bank's funds for 25 days for free (but you could also look at that as an advantage, too). Another is if the card is lost or stolen Visa and MasterCard have much stricter notification requirements than with a credit card.

All in all the advantages of prepaid debit cards usually outweigh the disadvantages -- especially for those individuals who don't have access to standard credit cards due to lack of credit history or because their credit rating is less than perfect.

Debit card payments: PIN or signature?

2010-05-05T15:27:00.001-07:00

Debit card payments: PIN or signature?

Debit cards are rapidly gaining popularity. Consumers who in the past were unable to pay with plastic now can get approved for a standard bank-issued debt card or a prepaid debit card to use as an alternative to cash.

Unlike a credit card, a standard bank-issued debit card authorizes a merchant to take money directly from your checking account.

When paying with a debit card, there are two options. You can either swipe your card through a reader and enter a personal identification number (PIN), or you can sign a receipt without entering a PIN. Regardless of your selection, the payment is taken directly from your account.

Still, some experts recommend that debit card users opt for the "credit" selection. Here are three reasons:

* You avoid paying transaction fees. A few banks charge from $0.10 to $2 each time you use your PIN, but there are generally no such fees for signature transactions.
* You could earn rewards. Some debit cards offered by major issuers provide points toward rewards. Most of these programs, however, only let you earn points for signature debits, or provide more points for signatures than PINs. Regardless, you earn very little when the programs are free, with enrollment costing $20 to $60 annually for rewards programs that rival those of credit cards. At that rate, it takes a lot of debit card payments in order to break even.
* You may experience greater security. Visa and MasterCard offer "zero liability" if someone uses a stolen debit card to drain your account. But some banks only provide this protection for signature debits, so you should find out if PIN debits are also protected.