Offshore bank accounts in demand as 'people should shop around'?

Offshore bank accounts may see rising demand as one wealth management body has advised Britons should "shop around" when it comes to personal finance products.

The British Bankers' Association has released a statement, noting: "Current accounts are not - and never have been - intended for people's savings."

For those with private wealth, diversifying investments may be key to maximising returns and offshore bank accounts could be one method of ensuring assets are consistently profitable.

Ring-fenced accounts that are subject to less tax can be one way to improve interest paid compared with that of a traditional savings vehicle, while offshore banking might demand even less in the way of levies and charges, meaning private wealth is better supported.

Stock market investing could also prove attractive for investors seeking to improve personal gains, as low interest rates in many of the world's leading economies means corporate and private banks often do not offering deals like those seen before the economic crisis.  ADNFCR-2318-ID-800103809-ADNFCR