Working Expats

Working Expats

15th April 2016

Just as many people chose to leave the UK, many will also chose to return. Recently a former British expatriate returned to the UK after living and working in Dubai for 10 years.

He commented “Although I enjoyed my time abroad, I got to the point where I was craving home comforts. For example, if I were to fall ill it is reassuring to know I will have a doctor who speaks English. When you are in a non-English speaking country, this is never guaranteed.”

The returning expat held funds at Skipton International for the duration of his time abroad and they have remained there ever since. As Skipton only holds expat accounts in sterling, the risk of losing out to the exchange rate fluctuations are removed.

A major risk factor is converting between currencies whereby exchange rates can often change over a short period of time, for example; if the pound weakened against the UAE Dirham it may leave customers with less sterling equivalent money than they are used to. Keeping funds held in a sterling bank account often makes financial sense.

 “As my income was partially in sterling during my time in Dubai, it made sense for me to open an Expat Savings Account.  However, even after returning and having the UK banks and building societies accessible to me again, I decided to remain with Skipton International. The quick and helpful responses to my phone calls and emails made me feel as if Skipton actually wanted me as a customer, very different to some of the other banks I have dealt with.”

Skipton International offer attractive expat saving accounts designed so you can have peace of mind while living abroad. With our products ranging from easy access accounts, notice and fixed rate accounts, we hope that we can provide an expat savings account to suit most requirements.