Currency brokers build their cash in on the 'currency exchange margin rate'. which means the currency exchange margin rate you pay is zero.02 Euros for each pound you exchange.
Even for those not financially secure a distant banking arrangement are often useful in taxes saved at home. a distant checking account will facilitate some achieve monetary security.
An overseas checking account usually yields a better rate of interest than the house banking community attributable to its additional international focus and additionally its use of foreign currencies, that relish a more robust exchange rate.
Opening foreign checking account may give such persons with interest-bearing accounts that are tax free. more info here : http://cwebankir.blogspot.com/2012/07/offshore-banking.html