The last week I unwound all my stock positions and parked all cash on bank deposits and accounts.
What came as a surprise is a simple realization that I have too much cash and it is heavily concentrated in a good, yet relatively small bank.
And than some idea came to me. What if I try opening a bank account abroad? I don’t plan putting too much money there, but it’s always a good idea to diversify geographically. Then I organize a debit card with them and will use as an account in Russia.
I decided to go hard core and try opening an offshore bank account with one Caribbean bank I trust. Then to wire transfer some money there from conventional bank account in Russia.
The experiment is still going on. Next Monday I have a call with a bank manager to cover possible issues.