Why you should consider an offshore bank account
If you’re managing money across currencies, supporting family abroad, or building a financial life that crosses borders, your banking needs to keep up. Standard Bank Offshore gives you the accounts, currencies and expertise to do that, from the Isle of Man and Jersey, regulated to global standards.
Every month that your savings sit in a local-currency account, they’re exposed to exchange rate Every month that your savings sit in a local-currency account, they’re exposed to exchange rate movement. Holding a portion of your wealth in a major foreign currency is one of the most direct ways to reduce that exposure.
We have an article available here that explains in simple terms why diversification is a financially savvy move, and how you can do that without complex structures or deals.
Why set up an international bank account?
The Standard Bank Optimum Bank Account lets you hold, spend and receive money in major international currencies - GBP, USD, EUR and AUD - from your phone, wherever you are.
Accounts are held in the Isle of Man and Jersey - well-regulated jurisdictions with depositor protection schemes and over 30 years of Standard Bank’s operational presence. And when you need support, a specialist team is available.
Standard Bank Optimum Bank Account: All-in-one service
The Optimum Bank Account is a full-service offshore bank account built for people managing money across more than one country:
- Send and receive money in major international currencies (GBP, USD, EUR and AUD)
- Optional Visa debit card
- Unlimited deposits and withdrawals
- Foreign exchange services
- 24/7 secure digital banking via our app and website
- Choose the currency that works for you, and use it across your account, savings, investments and loans
Note: Minimum balance requirements are applicable, or a quarterly maintenance fee applies if the balance isn’t met.
Is this account right for you?
An offshore account with Standard Bank is a practical option if you are:
- Living abroad, or planning to
- A frequent international traveller
- Receiving income in a foreign currency - from employment, rental property, a pension, savings or dividends
- Supporting family members in another country
- Looking to reduce your exposure to exchange rate risk
Your entire application is completed online. We aim to open accounts within 8 to 10 working days of receiving a complete application.
Our continued growth
With average growth of 35% year-onyear, we’re on track to achieve our R50 million turnover target by 2025.
Standard Bank Offshore at a glance
Standard Bank has operated internationally from the Isle of Man for more than 30 years. Deposits held with Standard Bank Isle of Man are covered by the Isle of Man Depositors’ Compensation Scheme.
Highly commended offshore account provider of the year, Moneyfacts 2022 and 2024. Winner, Excellence in Private Banking, International Investment Awards 2023.
How to get started
Get in touch to start investing internationally and building a bespoke portfolio.
What documents do I need to open an account?
Standard Bank’s online application requires a valid passport or national identity document, a recent proof of address (dated within three months), and supporting documentation for the source of your funds. You will also complete an eligibility check and identity verification as part of the digital application process.Standard Bank’s online application requires a valid passport or national identity document, a recent proof of address (dated within three months), and supporting documentation for the source of your funds. You will also complete an eligibility check and identity verification as part of the digital application process.
What is the minimum balance requirement?
To activate your Optimum Bank Account, you need to deposit a minimum of £5,000 or US$7,000.
Who is eligible to open a Standard Bank offshore account?
: Standard Bank Offshore accounts are available to individuals who meet eligibility requirements, including residents of African markets and other approved jurisdictions. An online eligibility check at the start of the application will confirm whether you qualify.
Do I need to visit a branch to open or manage my account?
No. The entire application is completed online, including identity verification and document submission. Once open, your account is managed through Standard Bank’s digital banking app or website, 24 hours a day.
I already bank with Standard Bank in South Africa. Can I open an offshore account?
Yes. Existing Standard Bank customers can apply for an offshore account through the same online process.
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