7 hours ago, SCOTT FITZGERSLD said:

you can see here a copy of the form that state the net worth / income ext.

the "sworn" PART is on the bottom, where you have to sign to confirm that

all the info you provided is true.

this is worrying, cause it gives the bank the legal option to sue you in case

the info will be discovered as not accurate.

 

for example, if you state that you will send the money from england and

later you send it from spain , banker can tell you "pay fine or go to court".

Yup. She also fill up this form at Bangkok bank and similar one at kasikorn bank too. I thought it is for credit card application. the ‘sworn’ signature is , I think, basically to agree to be held accountable for any fraudulent transaction that caused harm to somebody. 

US nationality can be a problem, some countries just do not want the aggravation of FATCA and have declined accounts to US citizens.
 
https://www.goldinglawyers.com/be-careful-closing-foreign-accounts-foreign-banks-refuse-to-open-new-accounts/

What countries are those? Iran ? I have not had any problems. Sounds like a bit of fear-mongering rubbish.

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On 11/25/2018 at 5:33 PM, SCOTT FITZGERSLD said:

the "sworn" PART is on the bottom, where you have to sign to confirm that

all the info you provided is true.

this is worrying, cause it gives the bank the legal option to sue you in case

the info will be discovered as not accurate.

 

for example, if you state that you will send the money from england and

later you send it from spain , banker can tell you "pay fine or go to court".

 

Banks cannot enforce fines, they are neither Government nor Police, they are private institutions / companies, with whom you sign a commercial contract for them to provide you with banking services.

 

They can enforce penalties for various account related things, say low balance, rejected TTs and so on, as per the terms and conditions of the signed contract.

 

As far as the questions asked, they are being used by the bank to build a risk profile of each client. Bear in mind that circumstances change, I can send money from Europe this month and Asia next month.

 

What the bank can then do is update the client's profile, or for high risk clients (as perceived by that particular bank/jurisdiction), they can decide to stop providing banking services to the respective client, which is a right they have according to the T&C, and close the account. In which case you can request for the balance to be transferred to an account of your choice with a different bank.

 

If there is a case where authorities are involved because of a money laundering case, then it may escalate further, not because of the bank, but the authorities, with a court order to freeze assets for example, that the bank would have to comply with.

On 11/26/2018 at 1:20 AM, ChiangMaiLightning2143 said:

What countries are those? Iran ? I have not had any problems. Sounds like a bit of fear-mongering rubbish.

Haters had predicted collapse American economy due to FATCA, turmoil amongst American expats, Americans unable to take their money out of the USA, and other untold misery for Americans because of FATCA. And some opportunists even started selling "how to protect your wealth for the coming dooms day." Well, nothing happened, by the dooms day (March 18, 2010), almost all the banks in the World signed up for FACTA compliance just to get access to American financial market.