> These requirements apply to all American citizens, not only wealthy people. I lived in Switzerland briefly and had a bank account there; it was closed (along

> These requirements apply to all American citizens, not only wealthy people. I lived in Switzerland briefly and had a bank account there; it was closed (along with all other Americans' accounts) because the bank didn't want the burden of reporting. Yup, can confirm - a large majority of smaller banks will not open a bank account for US citizens in Switzerland. The few larger ones will, but there's extra paperwork you need to fill out.