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Old 17.05.2012, 18:28
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US citizens with Swiss bank issues

This is from the American Citizens Abroad page on Facebook:

URGENT: Journalist TONY GANZER of World Radio Swtizerland seeks individuals with Swiss bank issues because of citizenship to interview via phone for a story to be broadcast next Monday, 21 May. Contact Tony at tony.ganzer@worldradio.ch or phone him at: +41 44 360 24 41

I know several people here have posted about their problems with opening bank/retirement accounts/obtaining mortgages. Get in touch with this guy and tell him your stories.
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Old 17.05.2012, 20:14
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Re: US citizens with Swiss bank issues

In case having contact info invokes the wrath of a mod, said journalist's e-mail address is also here: http://worldradio.ch/wrs/about/voice...y-ganzer.shtml
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Old 22.05.2012, 12:03
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Re: US citizens with Swiss bank issues

http://worldradio.ch/wrs/news/switze...y-.shtml?30738
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Old 31.05.2012, 08:12
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Re: US citizens with Swiss bank issues

Interesting read!

Question: Would you guys have any recommendations for Swiss banks that are friendly to US citizens (dual or not)?

I've been living in Switzerland for the past 17 years. My wife is Swiss, I have Swiss citizenship, I speak Dialekt and work for an extremely Swiss institution. I've had a joint UBS account with my wife since 1995. Until a year ago, my wages were horrible (working part time and studying), and investment was never an issue. Now I've finally started to earn enough to save a little - but when we approached the local UBS about opening an investment account, they told me (in the nicest possible way, actually) to bugger off. I can keep (a) my normal account and open (b) a 3. Säule, but investments are out. (Mortgages not an issue for me, but a question worth pursuing.)

My intel so far:

- I phoned Raiffeisen, no dice. US citizenship is an automatic deal breaker. Pity, since I like their reputation. Anyway, they were straightforward about it.

- Zürich Kantonalbank is more promising. They'll take me as a customer AND let me invest - but first they need proof of FBAR compliance. Funny: They told me that if I had more than half a million to invest (about ten times what I have!), they would be happy to take me on immediately as a private banking customer, no proof needed. Um ... yeah ... right.

That's as far as I've got so far. It would be nice to collect some further data here in the forum.

Mike
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Old 01.07.2012, 18:59
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Re: US citizens with Swiss bank issues

As I understand it, Post Finance is still on the road to becoming a "real bank," and is trying to comply with regulations bit by bit. With FATCA, this means dropping cross border business with Americans (as many other banks have done) and PF will automatically send account info to the U.S. beginning in...2014? I think. To opt out of this automatic exchange, an American client would face the 30% withholding tax. For a simple retail account, for an American living in Switzerland, PF seems the easiest. For more complicated financial services (complicated being relative) like investing...I don't know.

I have been under the impression an American buying foreign stocks on a foreign exchange is not worth it because of the added IRS headaches. ETFs bought through an American broker would be easier. Just what I heard..
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