Finding the right overseas commercial banking company can be a little stressful and overwhelming, so here are five crucial features to look for in a reliable overseas bank.

Customer Service is Key

At the end of the day, one of the most important features for any bank, be that overseas, on the high street or purely online is good quality customer service. No one wants to be treated like just another customer, and we all want to receive the most helpful, accommodating and useful service possible.

That’s simply not on the cards when they treat their customers badly, so helpful, effective customer service is absolutely essential when it comes to getting the most from your overseas bank.

Quality Advice and Consultation

One of the most valuable things a skilled and experienced bank can offer is quality advice and consultation for their customers. Being able to ask someone who really understands finances and banking what you should be doing with your cash is hugely important whether you’re managing savings, looking to get a mortgage, or running a business.

These kinds of services can be extremely useful, so make sure your overseas bank has them.

Plenty of Online Services Available

Online banking is the most convenient thing to happen to banking since the invention of the debit card. Being able to manage your finances and perform a range of services from your smartphone on the go is invaluable for anyone, and that’s exactly why you need to make sure your bank has a great online banking application or service.

The vast majority of banks have exemplary, high-security online banking at this point, but it’s important to check that you’ll be able to perform all the tasks and checks that you need to.

Do They Allow Multiple Currencies?

When it comes to saving larger sums of cash, it can be extremely helpful to store your savings in multiple types of currency. This helps you avoid any losses from shifts in foreign exchange rates, which can amount to a lot if you have a lot of savings.

Being able to bank in multiple currencies is also great if you’re paid in different currencies. If you’re having to regularly change your cash over and buy new currency, you’re going to be losing money regularly, so being able to save it all as it is can be very handy.

Service Charges and Rates

Lastly, when it comes to general services, you want to make sure you’re charged the best possible rates. Sending money to other countries can sometimes be very expensive, so if you intend on doing that frequently, make sure your bank has good rates. The same goes for any other services you’ll be using regularly.

If you bear all that in mind, you’ll be able to quickly and easily find a great quality, reliable banking company, letting you sit back and relax.

Sonali Bangladesh (UK) Limited on 16th August 2022 took over the existing legal obligations of Sonali Bank (UK) Limited by virtue of section 81 (2) of the Companies Act 2006.

 Sonali Bank (UK) Limited closed all personal accounts on 31st December 2017. The balance remaining on the accounts was subsequently transferred to independent trustees appointed for that purpose, in accordance with the terms of a trust deed entered between SBUK and the trustees. This was communicated to customers at the time so as they could contact the Trustees to make applications for unclaimed funds.

 To allow former account holders more time to apply for unclaimed deposits from the Trustees, the Trust has been extended by a further 5 years until 20th February 2029.

 The trustees are Christine Bartlett and Nigel Heath Sinclair of Richard Long & Co, whose contact details are as follows:

 Christine Bartlett and Nigel Heath Sinclair

Richard Long & Co

Castlegate House

36 Castle Street

Hertford

Hertfordshire

SG14 1HH

 Telephone number: 01992 503372.

 Email: heath.sinclair@richardlong.co.uk (with a copy to enquiries@richardlong.co.uk)

  

If you wish to claim payment of amounts owed to you, the appropriate course will be to make a request for payment in writing to the trustees using the contact details above, rather than SBUK. When you contact the trustees in this way, you will be required to prove your identity in the same way as if you were withdrawing the funds from the Bank prior to 31st December 2017. 

 

Please note that funds transferred to the trustees, do not earn any interest as per the Trust arrangement.   

Finding the right overseas commercial banking company can be a little stressful and overwhelming, so here are five crucial features to look for in a reliable overseas bank.

Customer Service is Key

At the end of the day, one of the most important features for any bank, be that overseas, on the high street or purely online is good quality customer service. No one wants to be treated like just another customer, and we all want to receive the most helpful, accommodating and useful service possible.

That’s simply not on the cards when they treat their customers badly, so helpful, effective customer service is absolutely essential when it comes to getting the most from your overseas bank.

Quality Advice and Consultation

One of the most valuable things a skilled and experienced bank can offer is quality advice and consultation for their customers. Being able to ask someone who really understands finances and banking what you should be doing with your cash is hugely important whether you’re managing savings, looking to get a mortgage, or running a business.

These kinds of services can be extremely useful, so make sure your overseas bank has them.

Plenty of Online Services Available

Online banking is the most convenient thing to happen to banking since the invention of the debit card. Being able to manage your finances and perform a range of services from your smartphone on the go is invaluable for anyone, and that’s exactly why you need to make sure your bank has a great online banking application or service.

The vast majority of banks have exemplary, high-security online banking at this point, but it’s important to check that you’ll be able to perform all the tasks and checks that you need to.

Do They Allow Multiple Currencies?

When it comes to saving larger sums of cash, it can be extremely helpful to store your savings in multiple types of currency. This helps you avoid any losses from shifts in foreign exchange rates, which can amount to a lot if you have a lot of savings.

Being able to bank in multiple currencies is also great if you’re paid in different currencies. If you’re having to regularly change your cash over and buy new currency, you’re going to be losing money regularly, so being able to save it all as it is can be very handy.

Service Charges and Rates

Lastly, when it comes to general services, you want to make sure you’re charged the best possible rates. Sending money to other countries can sometimes be very expensive, so if you intend on doing that frequently, make sure your bank has good rates. The same goes for any other services you’ll be using regularly.

If you bear all that in mind, you’ll be able to quickly and easily find a great quality, reliable banking company, letting you sit back and relax.

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