Posted: Sat Aug 3, 2019 4:09pm
Hi Ellie hope you are well.
If a money transfer company goes bust there is no compensation scheme, you lose your doe. Bank to bank accounts have government backed compensation schemes.
International bank accounts are usually ‘’off shore accounts’’ and I do not see what benefit they offer nowadays other than interest paid gross. At the moment bank interest is a pittance. In the old days they were considered secret bank accounts for tax dodgers, but when Elizabeth Windsor was force to pay tax she stopped all that, hence Lester Piggott and Ken Dodd.
Have a good day and best of luck.