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Services > Banking > Services > Offshore Reserve account > Overview
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The Offshore Reserve account will appeal to those who wish to build up a cash reserve offshore, earning high rates of interest, but retaining some transactional capabilities.
Its key attributes are :
- the account is available in four currencies; Pounds sterling, South African Rand, United States dollars, and Euro
- the minimum initial deposit levels are:
Pounds sterling £3,000
United States dollars US$5,000
South African Rand ZAR 35,000
Euro 5,000
- interest rates are fixed on the first day of each month
- interest is calculated on the daily cleared balance and added to the account twice yearly on the last business days of February and August each year
- two withdrawals are permitted in each half year period ending on the last business days of February and August. Other than any transfer charge, these withdrawals will be free
Opening an account could not be easier. Please complete an application form and return it to us.
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