Controlling Finances Worldwide | UAM Financial Expertise

31st Oct 2018

Controlling your finances, wherever you are in the world

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Cruising the world as yacht crew can make you feel like you’re a citizen of the world, rather than being tied to a particular country and, when you’re not in your home port, you don’t want to be tethered to banks in your home country and any associated tax and interest obligations.

We know banking can be a bit of a knotty problem for crew. Very often you’re classed as a ‘non-resident’ and this in itself can cause significant issues. On top of that, a whole plethora of dilemmas you need to deal with can arise while you’re at sea, around tax, card limits, transfers, large payments, balance checking and on and on.

It’s tricky keeping on top of your finances when you’re travelling, let alone finding the time to deal with it along with the added complexities a seafarer’s lifestyle brings to land-based on-shore banking practices.

While being surrounded by nothing but ocean, your bank may need you to do the impossible; like find a branch, contact or go to your particular bank, or locate and use a specific cash machine. All of a sudden, you’re not in control of your finances and, while GPS may tell you where you are in the world, you don’t know where you are with your money.

As well as finding a solution for these issues, think about what you need to help fulfil your long-term financial strategy (and if you don’t have one, you really ought to talk to us). You need a multi-currency, international bank account designed especially for yachties. An account that allows you to accumulate wealth in the most confidential and neutral tax environments.

You need a Seafarers Account that puts you back in control of your money, 24/7, wherever you are in the world.

Here are a few of the benefits:

● Multiple currencies: Sterling, US Dollar, Euro and Australian Dollar.
● Online banking: you can access your account, and transfer payments, from anywhere.
● Secure mobile banking via the Standard Bank Mobile App (available on App Store or Google Play)
● Make international payments on-line
● View and download your account activity on-line
● You can link multiple accounts within the Standard Bank Group
● International services

You can download your free application pack today or read our full list of Standard Bank questions asked by yachties like yourself HERE.