Lebanon has a wealth of business opportunities and is increasingly becoming an attractive option for both businesses and professionals from all over the world. The Lebanon economy has seen consistent levels of growth over the last 6+ years with focus on the banking sector followed by the tourism, international trade and services industries. The lack of restrictions when it comes to international investment in Lebanon compared to other countries in the Middle East is one of the reasons why businesses are choosing Lebanon. This of course has led to an increased demand for international personal banking services in Lebanon for those relocating.
It can now be relatively easy to open an account and get started with your banking services to use whilst you are in Lebanon which comes with its advantages, but of course there are things to consider before proceeding.
Online banking in Lebanon has also grown in popularity alongside the rest of the world with new services constantly being added to even the most basic current accounts available. Online and mobile banking is the ultimate way of keeping track of your money, making payments and transfers then setting up payees and so on. Taking this one step further is the increase in mobile banking applications! If you have a smart phone or tablet PC then you should
Security of your account and money is of course a paramount concern to anyone therefore banks engage in the use of secure internet banking which comes with an additional layer of protection provided by the likes of card readers and PIN generators. These are required when logging into your account, preventing any third party access.
There are benefits of using an international bank when setting up a personal bank account, more so for those who regularly travel, transfer money abroad or still have an international base elsewhere and need to be able to easily access your money without additional charges or issues when you are away from Lebanon.