Keeping money in the banks of post-Soviet Union countries such as Ukraine, Russia, Belarus and other developing countries is very risky because of the instability of the bank systems.
Those who do not care about diversification of bank accounts may lose their entire savings or a business in a day.
We do not need to go far to find the examples. Probably, some of you have already heard about the default of International Bank of Azerbaijan which has stored about 40% of the country’s assets.
It may lead to dangerous consequences, for instance, other developing countries may refuse to maintain even their largest banks.
People who would like to build their successful future and protect their assets should not afford the luxury of doing nothing. One should be aware that a national banking system is not unbroken, especially when we are talking about developing countries.
It is really important to take care in advance about personal, family and business assets.
You may be wondering: whether a foreign reliable bank may adopt a decision to default?
The answer is “yes”. There is always a risk of a company (including financial institutions) to default. That is why we always diligently check every bank or other financial institution before offering you to open a bank account therein. We take into consideration market capitalization, the effectiveness of services and bank management, possibility to withdraw funds in an emergency. Many other factors are also taken into consideration. Thus, your risks are minimal.
We usually do recommend our clients to diversify their funds in order to protect them in a long-term perspective. In other words, in order to decrease a risk of losing money, we do recommend opening bank accounts in different banks and even countries.
I do not think you can count on countries and large banks. It is worth to note that you are the only person who is responsible for your wealth. We highly recommend you to take steps in advance in order to prevent a pain of losing your assets.
Should you need a professional assistance, please feel free to contact us using the contacts below. You may also contact us over the chat.
We will be glad to find the most appropriate bank account for you, your family or your business.