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My experience is the same in EU. If you or your company is not a resident in the country then the bank will just not want to have anything to do with you "becau
by pingec 6y ago
My experience is the same in EU. If you or your company is not a resident in the country then the bank will just not want to have anything to do with you "because of too much FATCA paperwork and other requirements by US". I wonder how much this weighs down EU companies as there is no real competition in the banking industry across countries and you are kinda limited to what banks in your country offer you while still competing in the same EU market. And the disadvantage is probably even higher compared to entities with US banking.
- csomar 6y agoIt's funny how people often cite the EU banking system as more advanced than the US because it has instant SEPA transfers. From my experience the EU banking infrastructure is both a joke and a pain in the ass compared to the US. And yes indeed, the EU doesn't want you as a client unless you live next to the branch.
- afurculita 6y agoOk. What's your experience?
- jnknjknkjn 6y agoFrom my experience in France everything was very bureaucratic. A few examples: If you need to see someone clerks from the bank don't know how to do anything and so any slightly complex operation they would need to call someone from a call center who knew how to deal with it. And usually you needed to take an appointment at least one week in advanced to see a counselor. You also can not go to any bank office to manage your accounts, you need to be registered in a particular bureau and if you needed to do anything you can only do it at this particular bureau. Everything requires a lot of negotiation and guiding bureaucrats. Most of the user service its done through the phone and you need to pay for the call.