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Offshore Accounts:
As there name suggests, “offshore accounts” are bank accounts held with banks outside the UK banking system. However, if you open an offshore account in the Channel Islands (Guernsey and Jersey) the bank account will operate in the same way as a mainland account, but with gross rates of interest being paid (i.e. no tax). You should note that not all residents of the UK can open offshore bank accounts. However, if you are a British citizen living overseas, an offshore bank account in the Channel Islands can be the ideal way to maintain your UK bank needs as you can carry on all the normal functions of a UK bank account.

Internet Banking:
One area where the Internet has had an insurmountable effect is in the banking industry. These days, rather than having to visit your local bank, you can now do all your baking in the comfort of your home with an Internet bank account. If this appeals to you, the main features of an Internet bank account include:
- Internet access to the account; including being able to make payments off the account;
- a cheque-book;
- a cheque-card;
- an ATM card;
- a debit card;
- overdrafts – if agreed to with your bank;
- nominal rates of interest paid on credit balances;
- interest charged on negative balances;
- bank fees if you breach the terms of the account.