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  #141  
Old 15.07.2014, 08:56
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Re: US citizens have difficulty opening accounts with Post Finance?

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This is really not funny
Yes, it is. Read the rest of the thread; you're overreacting.
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  #142  
Old 15.07.2014, 09:00
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Re: US citizens have difficulty opening accounts with Post Finance?

So long as you're willing to sign a W-9 form so your bank info can be passed on to the IRS there shouldn't be a problem. If PF decide to be awkward, try UBS or Credit Suisse.

And if you don't like it, complain to your Congress people about FATCA and help get the damn thing repealed.
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  #143  
Old 15.07.2014, 09:38
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Re: US citizens have difficulty opening accounts with Post Finance?

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Don't pink slips require a bank account?
Only for the payee, not the payer.

Lots of people here do everything with cash, by the way. I've even paid 15k cash for a motorcycle.

Tom
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  #144  
Old 15.07.2014, 11:10
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Re: US citizens have difficulty opening accounts with Post Finance?

Have a US colleague who started 6 months ago. He was turned down by multiple banks but then he found one that took him. It was strange because one branch of UBS turned him down but another one accepted him. You have to sign a waiver to agree to be exempted from any Swiss laws and have all data sent to the IRS. As long as you have only a basic salary account, you may find an account. For investing it is very difficult to find a bank that will take Americans.
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  #145  
Old 15.07.2014, 12:08
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Re: US citizens have difficulty opening accounts with Post Finance?

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Don't pink slips require a bank account? This is really not funny; my options are to.. 1. carry cash around with me and risk getting mugged 2. keep cash in my room and risk getting broken into 3. open a bank account like a normal person in the 21st century and.. oh wait.
Nope. Pink slips are handed out at the post office.
1...No one said you had to carry all your cash around with you all the time(taking it to the bank is like getting mugged from a person with a suit on. Almost no interest at all).
2. Lock your door, choose your room mates well.
3. 21st century comes with 21st century problems. This is all happening because of the US government, not cause the Swiss don't like your cash.
Plus you can still have a bank account in the USA, and get your money transferred there every month. Sounds annoying, but, if Americans don't vote on laws for change, and the government isn't finding money wherever they can to jump start are economy(bad debts), then well, don't blame Switzerland because they are not that interested in your business.
Sorry, you weren't blaming anyone, that was my over interpretation. But it is a problem, I agree with you.
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  #146  
Old 15.07.2014, 15:59
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Re: US citizens have difficulty opening accounts with Post Finance?

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...carry cash around with me and risk getting mugged...
Seriously? If you're a student you probably look like a student, i.e. broke.

Besides, people here carry around a fair amount of cash all the time. Just the other day in Denner the guy ahead of me bought a carton of smokes (70 ish Francs) with a 1000 Franc note. Cashier didn't even blink when the customer handed it over.

In the U.S. handing over anything higher than a $20 bill would freak out the cashier and get them calling for a manager.

Relax. Try PF after you have your permit, sign all your privacy rights away, and you'll be okay. If they don't work, as Medea suggested try UBS, CreditSuisse, your local cantonal bank, or even MigrosBank.

Welcome to Switzerland and EF!
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  #147  
Old 15.07.2014, 18:04
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Re: US citizens have difficulty opening accounts with Post Finance?

We opened an account at UBS a month ago. We had to go to the UBS Headquarter branch on Bahnhofstrasse in Zurich. The only service they couldn't provide us with was investing services.
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  #148  
Old 15.07.2014, 18:04
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Re: US citizens have difficulty opening accounts with Post Finance?

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Don't pink slips require a bank account? This is really not funny; my options are to.. 1. carry cash around with me and risk getting mugged 2. keep cash in my room and risk getting broken into 3. open a bank account like a normal person in the 21st century and.. oh wait.

As you say, but........ oh wait, it's your government not ours causing all these problems for you.
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  #149  
Old 15.07.2014, 20:30
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Re: US citizens have difficulty opening accounts with Post Finance?

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As you say, but........ oh wait, it's your government not ours causing all these problems for you.
You're obviously 100% correct, but it's not as if he and his fellow citizens had some kind of control over that government. Washington has been doing whatever it has wanted for some years now, with no sign of giving a hoot over whether its subjects approve or not.

Last edited by Texaner; 15.07.2014 at 21:39.
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  #150  
Old 01.06.2016, 22:30
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Re: US citizens have difficulty opening accounts with Post Finance?

I just moved to Zurich yesterday from the US. I'm an American and my husband is German as well as a US green cardholder. We'd like to open a family account at Post Finance, but then found this thread. This thread is quite old so I'm wondering if anything has changed in the past few years and if Post Finance takes US citizens again. I'm asking because I see they have on their website that they are participating in FACTA. Is this for real or for show? Are there any Americans here or friends of American expats who have recent experience with Post Finance and can advise?

If they are taking American citizens as customers again, is there a particular location that's easier to apply for an account than others in Zurich? Since my husband is German, language won't be a barrier. Thanks in advance!
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  #151  
Old 01.06.2016, 22:35
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Re: US citizens have difficulty opening accounts with Post Finance?

Hi there. I am a current customer of Post Finance. They made
me fill out a form with US SSN and a waiver that you agree to
share your Banking Information with the US.


Other than that, it has been no Problem.
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  #152  
Old 01.06.2016, 22:49
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Re: US citizens have difficulty opening accounts with Post Finance?

Nothing about FATCA and it's effect on Americans abroad is for show I'm afraid. The US's law has forced financial institutions worldwide to comply with their demands.

This thread from March this year may or may not help.

No-Go with PostFinance

You'll both have to sign a W-9 form to allow PF to send the account details on to the IRS.
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  #153  
Old 02.06.2016, 01:05
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Re: US citizens have difficulty opening accounts with Post Finance?

I can confirm that, unfortunately, Fatca is alive and well, and still a pain in the arse.

In fact, today we received new forms, that come into force from September. Aparrently one of the stupider questions was not complicated enough...

Source: my work today, which included preparing forms to send to all of our 300 plus clients to get signed, NOT ONE OF WHICH HAS ANY CONNECTION AT ALL with the USA.

Regards


Ian
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  #154  
Old 07.10.2016, 10:15
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Re: US citizens have difficulty opening accounts with Post Finance?

The US Ambassador to Switzerland, Suzan LeVine, has written a letter to Swiss banks castigating them for not offering banking services to Americans living in Switzerland. A partial translation of a Berner Zeitung article follows:

"US ambassador triggers head shaking by bank bosses

Many Swiss banks have received mail from US Ambassador Suzan LeVine in the last few days. It addresses the fact that it has become difficult for US citizens to obtain banking services in Switzerland.

The letter has met with a lack of understanding among many recipients: US Ambassador Suzan LeVine wrote a standard letter at the end of September and sent it to numerous Swiss banks. In it, she notes the importance of the 20,000 Americans living here. In addition, many dual citizens are impacted by this.

Concerned diplomat
Then the ambassador comes to the point. For some US citizens, who had lived in Switzerland for many years, their accounts have been closed, she writes. Even family members of so-called US Persons have had their bank accounts blocked. "Based on these reports, I am concerned about the access of US citizens to banking services in Switzerland," she continues.

She also acknowledges the fact that various banks had tackled this problem by creating special contact points for US citizens. "Other approaches can be helpful," she continues. And finally, she proposes a meeting.

Undiplomatic bankers
In the case of banks, the letter is not well received. The bankers do not want to have names next to their statements. One considers the letter to be an "insolence." Another says: "The Americans have caused this themselves." "

http://www.bernerzeitung.ch/bernerze...story/17493373
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  #155  
Old 07.10.2016, 11:53
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Re: US citizens have difficulty opening accounts with Post Finance?

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The US Ambassador to Switzerland, Suzan LeVine, has written a letter to Swiss banks castigating them for not offering banking services to Americans living in Switzerland.
That's little surprise. She was appointed two years ago, in her first winter she complained about queueing at Swiss ski lifts as chaotic and inefficient. Whether justified or not, no diplomat worth his/her salt would *ever* do that.

The above, along with this letter, simply confirms the stereotype of "ignorant, presumptuous and overbearing US-American".
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  #156  
Old 07.10.2016, 12:06
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Re: US citizens have difficulty opening accounts with Post Finance?

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That's little surprise. She was appointed two years ago, in her first winter she complained about queueing at Swiss ski lifts as chaotic and inefficient. Whether justified or not, no diplomat worth his/her salt would *ever* do that.

The above, along with this letter, simply confirms the stereotype of "ignorant, presumptuous and overbearing US-American".

The Swiss have been hiding money from countries for many years.
A few years ago, they were aggressively recruiting Americans as customers saying that the customers could effectively hide financial matters from US tax authorities.


Furthermore, they were even flying to the US to do this so the customers were not even residence in Switzerland. Aiding and abetting tax evasion, any crime for that matter, is a criminal act in the US. I.e. Swiss Bankers
were aiding in US tax evasion for residences of the US.


FATCA was perhaps a bit heavy handed, but hiding money is not acceptable in modern financial markets.
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  #157  
Old 07.10.2016, 12:55
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Re: US citizens have difficulty opening accounts with Post Finance?

A US ambassador is generally not a diplomat, the job is mostly window dressing, it's often a political favor. I suspect few Americans have even heard of Ms LeVine - or any other US ambassador anywhere.

Judging by her comments since arriving here, she doesn't seem to give two pins about the lives of everyday Americans in Switzerland, as that is not her function. Her job is to be a spokesperson for the US government, not an advocate for it's citizens abroad. The former's policies and the latter's needs are often in opposition.

This cack-handed letter was only sent because politically she eventually had to be seen to 'do something'. The real recipient of that letter is her party's political base in the US. Now that she has 'done something' I doubt she, and most of the US, much cares what happens to American citizens in Switzerland.

Except for the Americans who attend the same Aperos, of course.
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Old 07.10.2016, 14:14
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Re: US citizens have difficulty opening accounts with Post Finance?

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The Swiss have been hiding money from countries for many years.
A few years ago, they were aggressively recruiting Americans as customers saying that the customers could effectively hide financial matters from US tax authorities.


Furthermore, they were even flying to the US to do this so the customers were not even residence in Switzerland. Aiding and abetting tax evasion, any crime for that matter, is a criminal act in the US. I.e. Swiss Bankers
were aiding in US tax evasion for residences of the US.


FATCA was perhaps a bit heavy handed, but hiding money is not acceptable in modern financial markets.
Mhhh, and because that was so unacceptable US banks are doing the very same now. Hypocrits and liars.
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Old 07.10.2016, 14:27
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Re: US citizens have difficulty opening accounts with Post Finance?

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Mhhh, and because that was so unacceptable US banks are doing the very same now. Hypocrits and liars.
A little hypocritical to be sure. A recent SonntagsZeitung story was headlined: "US Large Bank solicits black money in Switzerland - JP Morgan Chase offers structures that violate OECD rules":

http://sonntagszeitung.ch/read/sz_25...warzgeld-73992

Or this Blick article quotes ex-Senator Carl Levin as saying: "America is very hypocritical":

http://www.blick.ch/news/ausland/sch...id5314927.html

Or this Reuters report: "How Delaware kept America safe for corporate secrecy":

http://www.reuters.com/article/us-us...-idUSKCN10Z1OH

America, as an immigrant nation, should also be thankful that other countries don't practice citizenship-based taxation. It's just fine when America erodes the tax base of other countries but it probably wouldn't be well-taken if other countries did it to America.
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