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BGonline.org Forums
Open a Dutch Bank account
Posted By: Jake Jacobs In Response To: Open a Dutch Bank account (Robert Wachtel)
Date: Thursday, 14 April 2016, at 5:38 a.m.
Actually it is worse than that. As an American expat I have, and need, foreign bank accounts personal and corporate, and a foreign brokerage account. Because of the "bloodletting," as you properly called it, banks and brokers do not want American clients. Some will refuse to do business with Americans, the rest have special rules. This is true even for US banks. Years ago I had over fifty thousand in a Citibank account earning .25% interest. I went to see my "personal" gold account banker as they were advertising all sorts of fine services. She told me as an American the only one they could offer me was currency swaps. I didn't know much about them, but read the brochure while she was out of the room.
"You have got to be kidding!?" I said when she returned. "My mama didn't raise any foolish children." (Actually, I am proof that she did, but I didn't share that with the banker.) "I don't play any game where the house always wins." She first claimed not to know what I meant, then got a bit huffy when I explained it to her.
Some years later there was an IPO for bonds for one of the IRs here. ("Integrated Resort" = casino) They offered tranches in my price range, allowed investment from CPF, my Singapore retirement fund, and were handled by DBS, the bank where I do my checking.
"Do you have information on the IPO?"
"Yes," with a big smile.
"I'm American."
"No," with a big frown.
Casper may be able to open a Dutch account, but I wonder how easy you would find it.
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