Share money transfers may benefit expats

Falling interest rates may lead to UK emigrants to make international money transfers in order to purchase shares, it has emerged.

Speaking to the Independent, Linda McBain, head of banking at Investec Private Bank, recently highlighted how expats who rely on their savings may be affected by the global recession.

Figures from the paper reveal that Britons have an average nest egg of £18,000, but this will attract little in the way of interest rates due to rate cuts that are aimed at invigorating economies.

"Many savers have accumulated significant sums in their savings accounts but are now missing out on higher rates of interest by leaving their cash in accounts paying derisory rates," said Ms McBain.

To see larger returns on their investments, expats have been urged to make money transfers in order to buy shares or search for banks that offer more lucrative rates.

According to Rightmove.co.uk, UK investors are considering purchasing distressed property in the US in a bid to see a greater return on properties when the economy strengthens.

Click here to make an International Money Transfer.

By Linsey Summers.