Using Prepaid Offshore Credit Cards at ATM's, PoS and Online

Published: 06th June 2009
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Getting an offshore bank account is one thing, but having easy instant access to your offshore wealth can be another matter entirely. Many offshore accounts are opened remotely, and the majority of investors simply don't have the time or resources to visit a tax haven in person every time they need cash.



One of the best ways to overcome this problem, that is both timely and cost-effective is to use a prepaid offshore credit card. Handily, "ultra-private" prepaid cards are also some of the most discrete methods available of withdrawing cash and making purchases with your offshore funds.



Prepaid offshore credit cards come in various formats. But first, what is a prepaid offshore card?



An offshore credit card is nothing more than a card issued by a banking institution or card provider outside of your home jurisdiction. Often investors look to offshore credit cards as a private and easy way of getting to their offshore funds. Therefore in many cases the issuing bank will be located in a country with strict bank secrecy.



A prepaid offshore card is an offshore credit card that is "loaded" up front with as much money as you want to put on it. Rather than offering a line of credit, the card is simply a way of making all the purchases you want to make without borrowing anything. It is a credit card, so-called, because the prepaid offshore card often carries a brand name like Mastercard, Visa or Discovery and is internationally accepted.



A prepaid credit card differs from an ATM card or simple bank card because you can use it for much more. You can make purchases online, at PoS and withdraw from cash machines. Withdrawal/purchase limits will vary from card to card



Prepaid cards are loaded by being individually funded. As such they are not intrinsically linked to any offshore bank account, like an offshore debit card. Prepaid cards are a more discrete option if privacy is your aim.



The most common type of prepaid offshore credit card will bear the holder's name. If you have a company you could also get one in your company's name. Ultra-private "un-embossed" cards exist which carry no name, although some are not accepted by individual merchants. They carry only the credit card number within the magnetic strip and chip, so when swiped none of your personal information is recorded. Click on the link at the bottom of the page for more information about offshore credit card privacy.



What documents are needed to apply for a prepaid offshore credit card?



Just a scanned passport copy and a proof of residence are required by some issuers. Others may demand more detailed references or additional identification. Some prepaid cards with very low-limits can even be procured with no ID whatsoever.Fortunately, using a prepaid offshore credit card does not require any check of your credit history. Since the card is prepaid, you are not extended a credit line and therefore these checks are unnecessary. This makes prepaid cards a more private option than regular credit cards, since credit history checks are some of the greatest sources of confidential information leaks.





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The author is a staff writer for Offshore Banking House Capital Conservator. Capital Conservator products are meticulously engineered to safeguard the privacy of individual clients. Modest and sensible due diligence applied. Click for more information about our ultra-private prepaid offshore credit card offerings.

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