Expats ignoring ease of internet banking

British expatriates are ignoring the simplicity of setting up an offshore account over the internet, despite the fact most of them admit to surfing the web on a regular basis, according to one international bank.

Figures collated by Alliance and Leicester show that while 70 per cent of expats say that they use the internet on a regular basis and 42 per cent spend more than an hour a day using the web, they are still proving reluctant to set up an offshore banking account on arrival in their new countries. Some 70 per cent of those quizzed had not set up an offshore bank account when they relocated, despite 46 per cent having lived abroad for one to five years.

Alliance and Leicester International managing director Simon Hull said: With reliable internet access now widely available in most countries, expat workers can safely and easily find the best ways to save their wages. A past study by Alliance and Leicester found that 40 per cent of expats were influenced by the weather in their decision to move away from the UK.

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