When it comes to placing money offshore, one of the main concerns is "How will I have access to my funds?" A very practical and hassle free way is through credit cards. What's the point of having money if you can't enjoy it?!
With an offshore card you can then draw cash or pay merchants at millions of locations worldwide. Your card will be issued by an offshore bank, and can be issued in a corporate name, thereby avoiding any link to your onshore financial identity.
Let's start with some definitions first to clarify the subject:
- The traditional Credit Card: with an old-fashioned credit card, you can buy on credit. The credit card company hopes that you will eventually pay off the balance: "Spend what you don't have, pay later. We trust you".
- Debit Card: there is NO credit here, as you are only allowed to spend your balance on the bank account. A debit card is directly tied to a bank account. Whatever charges the user runs up are debited to that bank account, and monthly statements do not carry a remittance slip. The same account may have a checkbook tied to it as well.
- Secured Credit Card: Here, there are 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 per cent of the outstanding balance within a couple of weeks from receiving your statement.
Here are just a few uses for your offshore banking cards:
- 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…
- An offshore credit card also helps prevent your movements 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.
- A confidential card to match your second passport, as part of an overall privacy strategy
- Pay for an alternative internet connection, or buy services over the net (including PTClub services that you might not want your home banker to know about!)
PTClub offers you the following standard possibilities, with many other customised solutions also available.
A secured credit card (only Eur500 security deposit required.) PTClub's setup fee, only Eur1,250. Any amount you deposit OVER your security deposit will be your credit limit.
Just a passport copy required and absolutely NO notarizations necessary. Set up time is VERY fast indeed. Application emailed to you as soon as PTClub receivesd cleared funds from you.
To order your very own secured credit card, just click our order form and place Secured Credit Card as the ordering code.