Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 15.06.2012, 12:29
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Zürich
Posts: 5,517
Groaned at 93 Times in 80 Posts
Thanked 4,315 Times in 2,406 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Post Finance cancels accounts of American residents

Title says it all really
Announced today.

Whatever happened to globalisation??
Reply With Quote
  #2  
Old 15.06.2012, 12:31
Junior Member
 
Join Date: Mar 2012
Location: wil
Posts: 30
Groaned at 7 Times in 1 Post
Thanked 31 Times in 8 Posts
twinkletwinkle has earned some respecttwinkletwinkle has earned some respect
Re: Post Finance cancels accounts of American residents

politics trumps globalization any day...
Reply With Quote
  #3  
Old 15.06.2012, 14:56
poptart's Avatar
Forum Veteran
 
Join Date: May 2011
Location: Boston
Posts: 1,804
Groaned at 33 Times in 28 Posts
Thanked 3,013 Times in 1,242 Posts
poptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Interesting. I guess that means I won't have to deal with trying to figure out how to close the account remotely.
Reply With Quote
The following 2 users would like to thank poptart for this useful post:
  #4  
Old 15.06.2012, 15:31
edot's Avatar
Forum Legend
 
Join Date: Sep 2007
Location: Winterthur
Posts: 4,043
Groaned at 10 Times in 10 Posts
Thanked 4,526 Times in 2,106 Posts
edot has a reputation beyond reputeedot has a reputation beyond reputeedot has a reputation beyond reputeedot has a reputation beyond reputeedot has a reputation beyond reputeedot has a reputation beyond repute
I'm trying to find more info on this. Does it apply to residents of Switzerland who are US citizens? Does it apply to business accounts? Google, google, I know.
Reply With Quote
  #5  
Old 15.06.2012, 15:37
herc82's Avatar
Forum Veteran
 
Join Date: Mar 2007
Location: Zurich
Posts: 1,623
Groaned at 10 Times in 9 Posts
Thanked 947 Times in 589 Posts
herc82 has a reputation beyond reputeherc82 has a reputation beyond reputeherc82 has a reputation beyond reputeherc82 has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
I'm trying to find more info on this. Does it apply to residents of Switzerland who are US citizens? Does it apply to business accounts? Google, google, I know.
Nope, only applies to American Citizens without residency in Switzerland, according to todays article in Tages Anzeiger here (German only, sorry)

Americans living in Switzerland can still open and use accounts (as the Post is required to offer these services to residents by law) as well as Americans with both citizenships.

It will affect approximately 1700 American citizens not living in Switzerland. I guess this will affect RetiredinNH as well...?!?
Reply With Quote
The following 3 users would like to thank herc82 for this useful post:
  #6  
Old 15.06.2012, 17:28
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,111
Groaned at 13 Times in 5 Posts
Thanked 1,292 Times in 662 Posts
Blog Entries: 13
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
It will affect approximately 1700 American citizens not living in Switzerland. I guess this will affect RetiredinNH as well...?!?
I am neither a resident nor a dual citizen so I guess that I am out of luck
Reply With Quote
  #7  
Old 15.06.2012, 17:58
Corbets's Avatar
Forum Veteran
 
Join Date: Mar 2007
Location: Zug, CH
Posts: 2,186
Groaned at 98 Times in 76 Posts
Thanked 3,631 Times in 1,275 Posts
Corbets has a reputation beyond reputeCorbets has a reputation beyond reputeCorbets has a reputation beyond reputeCorbets has a reputation beyond reputeCorbets has a reputation beyond reputeCorbets has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
I am neither a resident nor a dual citizen so I guess that I am out of luck
Nah. Just put all your money into my account and I'll hold on to it for you!
Reply With Quote
The following 3 users would like to thank Corbets for this useful post:
  #8  
Old 15.06.2012, 18:47
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,111
Groaned at 13 Times in 5 Posts
Thanked 1,292 Times in 662 Posts
Blog Entries: 13
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
Nah. Just put all your money into my account and I'll hold on to it for you!
Thanks ... EFers are so helpful
Reply With Quote
The following 2 users would like to thank RetiredInNH for this useful post:
  #9  
Old 15.06.2012, 19:10
Forum Legend
 
Join Date: Sep 2006
Location: SZ
Posts: 5,745
Groaned at 12 Times in 11 Posts
Thanked 10,894 Times in 3,711 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

And once again, may I ask anyone who is affected by this:

Please please please write your senators and congresscritters, telling them how FATCA has penalized ordinary, law-abiding, tax-compliant Americans, putting up hurdles to doing business overseas that makes American business uncompetitive in the world market, especially smaller businesses - and stands to hurt the American economy.

Especially those who are resident in the US now - as there is a chance that your comments would be taken more seriously than those of us resident overseas.

Hope all those who are affected can find an alternative solution.
Reply With Quote
The following 3 users would like to thank meloncollie for this useful post:
  #10  
Old 15.06.2012, 23:58
dino's Avatar
Forum Veteran
 
Join Date: Feb 2006
Location: Zurich
Posts: 1,847
Groaned at 36 Times in 29 Posts
Thanked 1,254 Times in 613 Posts
dino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond reputedino has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
Title says it all really
Announced today.

Whatever happened to globalisation??
The US threw all its toys out of the pram ...
Reply With Quote
This user would like to thank dino for this useful post:
  #11  
Old 17.06.2012, 09:34
Junior Member
 
Join Date: Oct 2009
Location: USA
Posts: 40
Groaned at 0 Times in 0 Posts
Thanked 34 Times in 15 Posts
runderwo has no particular reputation at present
Re: Post Finance cancels accounts of American residents

What about a Swiss holder of a US greencard living in the US?
Reply With Quote
  #12  
Old 17.06.2012, 09:42
Pancakes's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Zurich
Posts: 2,888
Groaned at 78 Times in 52 Posts
Thanked 4,310 Times in 1,702 Posts
Pancakes has a reputation beyond reputePancakes has a reputation beyond reputePancakes has a reputation beyond reputePancakes has a reputation beyond reputePancakes has a reputation beyond reputePancakes has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

I bet this affects a lot of U.S. businesses that pretend to have their headquarters here in order to pay less taxes. (?)
Reply With Quote
  #13  
Old 17.06.2012, 09:51
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 10,496
Groaned at 148 Times in 126 Posts
Thanked 7,123 Times in 4,182 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
I bet this affects a lot of U.S. businesses that pretend to have their headquarters here in order to pay less taxes. (?)
I doubt it, they are not personal accounts. In any case the accounts will be for a local subsiduary.
Reply With Quote
The following 3 users would like to thank fatmanfilms for this useful post:
  #14  
Old 17.06.2012, 11:08
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,111
Groaned at 13 Times in 5 Posts
Thanked 1,292 Times in 662 Posts
Blog Entries: 13
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
What about a Swiss holder of a US greencard living in the US?
Would almost certainly be treated as a dual citizen and allowed to keep account.
Reply With Quote
  #15  
Old 18.06.2012, 18:38
Junior Member
 
Join Date: Oct 2009
Location: USA
Posts: 40
Groaned at 0 Times in 0 Posts
Thanked 34 Times in 15 Posts
runderwo has no particular reputation at present
Re: Post Finance cancels accounts of American residents

Ok, I must have overlooked something in the coverage. So if I understand correctly, even dual US-Swiss citizens are okay regardless of residence, due to their Swiss citizenship requiring Die Post to serve them because of its own mandate to serve Swiss citizens?
Reply With Quote
  #16  
Old 18.06.2012, 19:22
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,111
Groaned at 13 Times in 5 Posts
Thanked 1,292 Times in 662 Posts
Blog Entries: 13
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
Ok, I must have overlooked something in the coverage. So if I understand correctly, even dual US-Swiss citizens are okay regardless of residence, due to their Swiss citizenship requiring Die Post to serve them because of its own mandate to serve Swiss citizens?
This was addressed earlier in this thread:

Quote:
View Post
Americans living in Switzerland can still open and use accounts (as the Post is required to offer these services to residents by law) as well as Americans with both citizenships.
Reply With Quote
  #17  
Old 19.06.2012, 06:28
Junior Member
 
Join Date: Oct 2009
Location: USA
Posts: 40
Groaned at 0 Times in 0 Posts
Thanked 34 Times in 15 Posts
runderwo has no particular reputation at present
Re: Post Finance cancels accounts of American residents

I meant that as far as I can tell, this wouldn't even affect a US-Swiss dual citizen who is living in the USA, so a Swiss who resides in the US with a greencard is certainly fine. Whereas all other banks are closing accounts for any US residents regardless of nationality status.
Reply With Quote
  #18  
Old 11.07.2012, 21:01
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,111
Groaned at 13 Times in 5 Posts
Thanked 1,292 Times in 662 Posts
Blog Entries: 13
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

Quote:
View Post
It will affect approximately 1700 American citizens not living in Switzerland. I guess this will affect RetiredinNH as well...?!?
Has any affected American heard from PostFinance? I have received nothing, either paper or electronic, from them on this topic.

I have obviously not asked them ... let sleeping dogs lie
Reply With Quote
  #19  
Old 12.07.2012, 09:34
Newbie
 
Join Date: Jul 2012
Location: switzerland
Posts: 4
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
heidi-bear has no particular reputation at present
Re: Post Finance cancels accounts of American residents

I am a dual national, UK/US (born in the UK) but I reside in the USA and pay my taxes there. I have owned a holiday apartment in Switzerland for 17 years and bank with Post Finance. They have just informed me that they are closing my account as I am an American. Are Post-Finance required by Swiss law to let me keep my account as I am an EU citizen by birth.
Reply With Quote
  #20  
Old 12.07.2012, 09:53
adrianlondon's Avatar
Forum Legend
 
Join Date: Nov 2009
Location: Basel
Posts: 8,066
Groaned at 154 Times in 136 Posts
Thanked 19,681 Times in 5,339 Posts
adrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond reputeadrianlondon has a reputation beyond repute
Re: Post Finance cancels accounts of American residents

No.

I believe they are required to allow Swiss residents to open and keep accounts.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
US citizens have difficulty opening accounts with Post Finance? MrMert Finance/banking/taxation 148 15.07.2014 19:30
Swiss Banks that allow accounts for US Residents KeinFranzösisch Finance/banking/taxation 29 13.08.2013 17:47
Post finance help madame de sousa Finance/banking/taxation 5 22.12.2011 22:25
Post Finance Card swissmama Finance/banking/taxation 3 22.01.2010 10:12
Transfer from Post to NA accounts asdfasdf Finance/banking/taxation 3 09.10.2007 22:36


All times are GMT +1. The time now is 20:27.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0