With overseas banking, you can now pay for transactions in foreign currencies and control your funds worldwide.
As the world of financial services becomes increasingly digital, opening an international bank account and banking from abroad has never been more convenient. Marshall Islands are one such place that provides good offshore banking facilities.
Let’s see in this post, how you can use a Marshall Islands bank account to access overseas banking.
Which Bank Account Should Be Opened to Do Overseas Banking in the Marshall Islands?
There are a few varieties of Marshall Islands bank accounts for foreign banking purposes. The best bank account would be an offshore bank account provided by a bank with a license in the state.
Offshore bank accounts in Marshall Islands have several primary benefits for overseas banking including anonymity, tax exemption, wealth protection and access to funds around the world.
Jetonbank is one of the offshore banks that offers 100% online and foreign bank services. A licensed offshore bank, Jetonbank offers private, corporate and crypto banking accounts for overseas customers. Its bank accounts can be opened online from anywhere and without having to travel to the Marshall Islands.
Account holders can also enjoy borderless banking facilities like foreign exchange transfers, multi-currency wallets, online bill payments, and more. If you have a Jetonbank account, you can conveniently manage your money from anywhere in the world with security and ease by using our online and mobile banking.
What are the Documents Required to Open an Overseas Banking Account in the Marshall Islands?
Opening an overseas bank account in the Marshall Islands is easy for people and companies. The main documents usually needed are:
Passport or Government Issued ID
This is the main document for client identification and verification. You might also need primary and secondary IDs.
Proof of Address
Your residential address is verified by a utility bill or bank statement no more than 3 months old. This is not waived for some online banks.
Source of Funds Documentation
Evidence of where and who received the initial deposit such as payslips, returns of taxes, asset statements etc. may need to be submitted.
Incorporation / Business Documents
When the company is in the accounts phase, they need to have a certificate of incorporation, memorandum of association, articles of association and directors/shareholders/beneficial owners.
Your specific needs will vary from bank to bank and account to account. Most procedures can now be done online with digital records for overseas customers.
Who Can Open an Overseas Bank Account in the Marshall Islands?
In the Marshall Islands, there are bank accounts that you can open as individuals and businesses. The participating account holders are:
- Non-Residents: Residents and citizens of all nations can create a personal bank account to conduct private banking. There are no residency requirements.
- Companies: Marshall Islands based companies and foreign companies and shell companies, registered abroad can also create corporate bank accounts.
- Trusts and Foundations: Trustees can set up trust/foundation bank accounts for protection and wealth creation.
- Expert Fiduciaries: Professional service providers such as lawyers, accountants etc can create fiduciary accounts for their private clients.
- High Net Worth Individuals (HNWIs): Marshall Islands is the preferred location for private banking services for HNWI and UHNWIs looking for privacy and international reach.
After due diligence and KYC clearance, virtually any person or business can set up an overseas bank account in the Marshall Islands for foreign finance.
Online Overseas Banking Account in the Marshall Islands
In today’s electronic world, everyone likes the option to have money in their account in real time without any branch requirement.
The best bank account for Marshall Islands is Jetonbank if you are looking for an online foreign banking provider.
Among the major benefits of establishing a digital bank account with Jetonbank are these:
- Account opening is 100% online, you never need to travel or verify in person.
- Secure online and mobile bank login from any location worldwide.
- Multi-currency digital wallets to transact money globally in all major currencies.
- Great exchange rates for currency conversion with no hidden charges.
- You can connect the account with foreign payment processors such as Visa, Mastercard for convenience of spending.
- Security options such as two-factor authentication and bank level encryption.
- Professional customer support via phone, email and live chat 24/7.
A Jetonbank online account allows overseas customers to enjoy all the advantages of a Marshall Islands offshore bank account at the comfort of their own home.
Banking, payments and investment management are performed digitally omni-channel.
Best Way to Do Overseas Banking in the Marshall Islands
Here is how you can most efficiently benefit from a Marshall Islands bank account for foreign transactions:
- Setup an offshore digital bank account with Jetonbank through a quick and easy online application.
- To fund the account, deposit the initial deposit from an already opened foreign bank account. Jetonbank allows you to deposit in multiple deposit methods.
- Now get started with the multi-currency digital wallet for international money transfers, bill payment, and account management across the globe.
- You can use tools such as connected debit/credit cards for easy spending on all merchants that participate in the card networks.
- Store money in the account and enjoy the tax-free and private laws of the Marshall Islands.
- You can visit Jetonbank online and mobile banking 24/7 to view statements, convert currency, and more anywhere.
- You can rely on the bank’s secure security protocols and customer service team to assist you whenever needed.
When a customer creates an account with Jetonbank, they receive a fully digital offshore bank account that enables them to conveniently do the overseas banking through a single international platform. The Marshall Islands jurisdiction also provides a perfect regulatory space for global liquidity seekers.
With a Jetonbank account, customers have a safe and convenient international way to access their wealth as per their offshore banking needs.
To get started, check out Jetonbank’s website or reach out to our team today.
