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Banking services

on Tuesday, August 11, 2009

It is possible to obtain the full spectrum of financial services from offshore banks, including:

* deposit taking
* credit
* wire- and electronic funds transfers
* foreign exchange
* letters of credit and trade finance
* investment management and investment custody
* fund management
* trustee services
* corporate administration

Not every bank provides each service. Banks tend to polarise between retail services and private banking services. Retail services tend to be low cost and undifferentiated, whereas private banking services tend to bring a personalised suite of services to the client.