Barclays Private Clients is to leverage the Visa ATM network and global public Internet to provide consumers in other countries with integrated banking and savings products in euro, dollar and sterling accounts.
Savings Solutions offers a high interest cheque account, a 60-day notice account for medium term savings and time deposits for longer term savings, all of which are available in euro, dollars or sterling.
Customers around the globe can manage their funds via telephone or online banking. Savings Solutions customers are also provided with a Visa debit card (a Barclays Connect card for sterling accounts and a euro or US dollar deferred debit card for euro or US dollar accounts). These can be used to withdraw money at 750,000 Visa cash machines and pay for goods in 24 million outlets around the world.
Online support is backed up by Barclays Private Clients' network of international branch offices for personal help and advice on a range of financial products if they choose.
Frances Brindle, marketing director for Barclays Private Clients International, says: "As the world becomes increasingly globalised, there is an increasing need for international banks like Barclays to provide a local service in countries around the world. The growth of the Internet and telephone banking, as well as the proliferation of cash machines, means that we can set up a virtual network any where in the world allowing customers access to a brand name they can trust."
To become a Savings Solutions customer a minimum of £5000 or currency equivalent is needed which can be invested across the range of accounts. The annual fee is £50 per year.