Just keep in mind, that if you are from the US, the Obama administration has forced all countries who benefit from any sort of US aid, to report all deposits, and interest earning income to the IRS. It is a fascist policy, designed to control all Americans. So, consider this when it comes to banking here. Lately, some major banks have declared wealthy Americans to be radioactive, when it comes to banking, and the obligations imposed by the fascist Obama regime.

The part about Obama is not true. Hate him if you must, but at least hate him based upon fact and not conspiracy "theories."

However, American citizens are required to inform IRS of any foreign bank accounts .... but this has been in effect for many years before Obama took office.

Your information is incorrect. The new banking law goes into effect January 1st, 2013, and it is entirely the work of the Obama Administration. The laws are draconian, and oppressive. He approved them, and it is further proof of his conservative positions. Do not allow yourself to be fooled by this guy.

Singapore is much more friendly regarding currency ins and outs.