4 ms·
It's basically impossible to do any financial transactions in Switzerland as an American. Even something as mundane as opening a bank account to receive your sa
by satellite2 4y ago
It's basically impossible to do any financial transactions in Switzerland as an American. Even something as mundane as opening a bank account to receive your salary is extremely complicated as most banks refuse to do business with Americans. A lot of Americans there renounced their citizenship because of this.
- FredPret 4y agoThat's due to American regulations. If any American has an account at your bank, they can audit your whole bank. So now there are banks that will never take an American customer, and banks that specialize in Americans.
- throwawaybzx 4y ago[flagged]
- danaris 4y agoI'm not sure this is the best example. The reason America puts Swiss banks with American customers under extra scrutiny is specifically because Swiss banks are infamous for enabling tax evasion.
- FredPret 4y agoIt's a global thing, not just Swiss. USA has some high-powered financial regulations and the ability to enforce them