Expat's Facing Bank Account Problems?

[flying]

Saw this Perter Schiff video today.

In the first 5 minutes he talks about it getting harder for a expat to open accounts not only off shore but also to open US accounts while living abroad. Second five minutes may be a bit over the top but like he said the rule book has been tossed.

Edited June 30, 2009 by flying

[lopburi3]

What a waste of time - no facts at all - total self gratification BS.

[flying]

He said he *thought* but was not sure about the 10 year tax after renouncing citizenship.

So I looked & yes in fact since 2004

http://www.irs.gov/businesses/small/intern...d=97245,00.html

Not that many would renounce citizenship

Yes perhaps like you say not interesting or if you feel it is not factual

Delete it if you like. No problem

Edited June 30, 2009 by flying

[BWPattaya]

I was pleased when he stopped talking, it woke me up. What a load of crap.

[lopburi3]

I was just posting my view - you have every right to post it. But for many of us the download is not an easy task and after waiting 20 minutes to find he has nothing to say wanted to provide a caution to others. I am not a moderator - just a user/viewer/poster like most of us.

[sunholidaysun1]

The problem I have with my Thai bank account is the 150bht fee added for any transaction from the ATM's ,when withdrawing money from home . Another way to screw us !!

[BigSnake]

The problem I have with my Thai bank account is the 150bht fee added for any transaction from the ATM's ,when withdrawing money from home . Another way to screw us !!

150 baht fee from your Thai Bank account,(ATM transaction) when withdrawing money from HOME??

[Jungian]

This guy is clueless. I just got my first Thai credit card 3 months ago that my wife didn't have to co-sign for. All I had to do was show my pay receipts, tax records and work permit dating back 3 years. Granted they only gave me a 50,000B limit to begin with and the card my wife co-signed for has a 100,000B limit but no fuss no problems.

[Motoon]

Sorry, that did nothing for me at all...

[12DrinkMore]

I didn't watch the video. I used to find Schiff amusing, but now he gets on my nerves.

Maybe he was referring to

http://www.bloomberg.com/apps/news?pid=206...id=a_8VwpO5m0WQ

June 29 (Bloomberg) -- Swiss banks are shutting the accounts of Americans as the U.S. Internal Revenue Service accelerates the hunt for tax dodgers.

UBS AG and Credit Suisse Group AG, the country’s biggest banks, have told Americans to move their money into specially created units registered in the U.S., or lose their accounts. Smaller private banks such as Geneva-based Mirabaud & Cie. are closing all accounts held by U.S. taxpayers.

“American citizens are starting to feel like they’re Typhoid Mary,” said Adams who hosted a 2008 fundraiser for Barack Obama that featured actor George Clooney. “The Swiss simply don’t want American customers because it requires so much infrastructure and hassle that they don’t make any money.”

Sandra Dysli, an American who has lived in Geneva for 40 years, said Bank Zweiplus AG, the Zurich-based joint venture of Basel-based Bank Sarasin & Cie. and AIG Private Bank, and a Geneva branch of Raiffeisen International Bank-Holding AG refused to open investment accounts for her.

“I was told that I cannot legally be a client because I’m an American,” said Dysli, who retired from the United Nations in 2001. “I couldn’t get an investment account and had everything in cash.”