Maritime International Advisor

Safe Bank Accounts in Turbulent Financial Times

In these uncertain financial times some countries and banks still offer secure deposits and reliable banking facilities.
Real People, Real Answers in Real Time.
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October 21, 2008 - We have received numerous enquiries from our clients about the safety of their bank account funds, given the continuing worldwide financial crisis. We have responded to these requests individually, but now wish to give all our clients and potential clients, further advice on the safest banks to do business with.

We are pleased to say that to date, no bank recommended by Maritime International Ltd., has been part of the current crisis. None have failed, none are being supported by Governments and no current deposits held by our clients have been affected.

Maritime International Ltd. offers reliable and safe banking alternatives throughout the world, in Europe, the Caribbean, Latin America, and Asia Pacific. We select our banks carefully and strive for long term relationships, given our 18 years experience in the business. We do not hesitate however to drop our recommendation, if we believe a particular bank is not performing in our clients' best interests.

In this Newsletter, we wish to discuss and confirm our recommendations on two of the major banks we offer: FBME Bank Ltd., in Cyprus and Anglo Irish Bank AG/Valartis Group AG in Austria and Switzerland. We will be dealing with other banks we recommend in later Newsletters.

We are in daily contact with both FBME and Anglo Irish/Valartis banks so we always have up to date information to provide to our clients.

Please note that we recommend that only corporate accounts be set up, never personal accounts.


We have placed many clients at FBME Bank Ltd., in Cyprus. We have reviewed the bank's status and have asked for and received an official statement on bank deposit safety from its executives. (Click Here for excerpts from that statement plus information on deposit protection provided by the Government of Cyprus)

Based on the information provided to us, we continue to recommend FBME to our clients who require internet access to their accounts, lower deposit minimums and/or higher volumes of monthly transactions. We strongly recommend that non-clients, with bank deposits in banks not recommended by Maritime International Ltd., consider moving their accounts to FBME.


For investment bank deposits of USD 100,000 and over, either managed accounts or self directed, we continue to strongly recommend Anglo Irish/Valartis bank. We have reviewed the bank's current position and requested and received statements from the bank's executives on bank deposit security. (Click Here for excerpts from these statements). We recommend Anglo Irish/Valartis, Austria as one of the safest banks in the world for investment deposits, due to the bank's secure position but also due to the Austrian Government's banking deposit requirements and guarantees.

Note that Anglo Irish Bank/Valartis is an investment bank and only allows a few account transactions a month. Funds for day to day operations should be kept in a bank like FBME, with surplus funds being held in an Anglo Irish/Valartis investment account.


FBME and Anglo Irish/Valartis banks are two of the major banks recommended by Maritime International Ltd and which we strongly recommend for these turbulent times. We will be reviewing other banks in the near future and will provide the results of our surveys in a future Newsletter.

We would like to mention that, of course, we do NOT recommend Kaupthing Singer & Friedlander in the Isle of Man. We were recently asked about this bank by a potential client, who fortunately asked us before proceeding. As you may be aware, this bank has now failed and is in liquidation with all accounts frozen.

Singer & Friedlander was on our recommended list of banks up to two years ago. After it was taken over by Kaupthing (one of the largest banks in Iceland), a number of problems arose between clients and the bank. Ultimately we dropped our recommendation, and took the drastic measure of recommending that all our clients at the bank move their accounts. Almost all did so.

Maritime International Ltd. is committed to keeping our clients up to date with the latest news in these turbulent times. We will be providing more information on banking security in future Newsletters to assist our clients in choosing an appropriate bank with confidence.

Maritime International Ltd. would be pleased to answer any questions you may have on such banking matters, without charge or obligation. (Click here to contact us)

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