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Old 12.10.2012, 11:05
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MyOne (Manor) Credit Card denied, american FATCA again?

Just wondering if anyone has recently been denied approval for a MyOne credit card?

I recently applied through Manor as they were offering a good discount on the purchase, although I really did not need the credit card. Yesterday I received a letter denying me the card with no explanation.

When looking at the MyOne website, it seems to be owned under parent company Accarda SA which is linked with Raiffeisen and apparently some cantonal banks as well. This all adds up to banks who are known to deny accounts to Americans, so adding two and two together, seems FATCA is at work again, but wanted to see if this was indeed the case.

I intend on following it up with MyOne but it will take some time without an email address and then report it to ACA as appropriate.
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Old 12.10.2012, 11:33
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

Possible.

It might also be due to you having a B, C, or some other permit.
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Old 16.10.2012, 07:41
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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Just wondering if anyone has recently been denied approval for a MyOne credit card?

I recently applied through Manor as they were offering a good discount on the purchase, although I really did not need the credit card. Yesterday I received a letter denying me the card with no explanation.

When looking at the MyOne website, it seems to be owned under parent company Accarda SA which is linked with Raiffeisen and apparently some cantonal banks as well. This all adds up to banks who are known to deny accounts to Americans, so adding two and two together, seems FATCA is at work again, but wanted to see if this was indeed the case.

I intend on following it up with MyOne but it will take some time without an email address and then report it to ACA as appropriate.
I was unable to find any statement on the matter on the net, so I called and the person that I spoke with was unaware of any policy towards US persons. They said that if one lives in Switzerland, then it probably won't be a problem. However, I've been getting the impression lately that financial institutions are becoming more reluctant to state their official position on the matter.
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Old 16.10.2012, 08:55
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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Possible.

It might also be due to you having a B, C, or some other permit.
I can second this. I applied for a Migros Budget credit card on 4 occasions and was denied 3x. After being denied a third time I decided to confront them (GE Money) to ask on what basis I was being denied. The answer -> company policy. They then refused to state specifically what company policy they refer to.

Once I got my C permit I applied again and was given a credit card within 10 days.

I surmise that company policy means -> Swiss nationals and C permit holders only.
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Old 16.10.2012, 09:53
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

I had ruled out permit issues and other things such as bad credit history, which do not seem to figure here, that's why it seems to default to FATCA or similar.

But I agree with SwissPinoy, they are more and more likely to tell you something else rather than what is the real issue.
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Old 16.10.2012, 09:54
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

I've heard MyOne works through UBS. Perhaps you've had some issues with them in the past?
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Old 16.10.2012, 10:07
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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I've heard MyOne works through UBS. Perhaps you've had some issues with them in the past?
No, no problems with UBS either. Website seems to indicate Raiffeisen and some cantonal banks are behind MyOne.
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Old 16.10.2012, 10:09
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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No, no problems with UBS either. Website seems to indicate Raiffeisen and some cantonal banks are behind MyOne.
If you've been marked as an American on your account, this could be the problem.
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Old 16.10.2012, 10:26
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

If it turns out that the reason for rejection is based on being a US citizen, then this is a worrying trend. It shows that the situation is getting worse.
I have a mortgage with Raiffeisen and I'm very concerned that either I will get a cancellation letter or that they simply won't renew it.
The only small hope I have is that if the election turns out to be really close, maybe there will be in the future some consideration of overseas voters by US politicians.
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Old 16.10.2012, 10:44
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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I can second this. I applied for a Migros Budget credit card on 4 occasions and was denied 3x. After being denied a third time I decided to confront them (GE Money) to ask on what basis I was being denied. The answer -> company policy. They then refused to state specifically what company policy they refer to.

Once I got my C permit I applied again and was given a credit card within 10 days.

I surmise that company policy means -> Swiss nationals and C permit holders only.
I don't think the reason behind the rejection is the permit. I was issued one of these cards on a permit B.
Good luck in trying to find the answer, however I am doubtful that you will be given an explanation other than "company policy"
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Old 16.10.2012, 10:46
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

I've been tossed out of two retail banks to-date in 2012 due to my USC status and was advised through a real estate broker in August that his standard regional bank contacts would not consider me, as a USC, for a mortgage. The situation is indeed grim for USCs wishing to lead a normal life in CH.
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Old 16.10.2012, 11:49
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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I've been tossed out of two retail banks to-date in 2012 due to my USC status and was advised through a real estate broker in August that his standard regional bank contacts would not consider me, as a USC, for a mortgage. The situation is indeed grim for USCs wishing to lead a normal life in CH.
Which banks? We are at Raiffeisen and so far, so good - but I am worried the day will come and I will have to be removed from our account and mortgage...
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Old 16.10.2012, 12:10
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Re: MyOne (Manor) Credit Card denied, american FATCA again?

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I surmise that company policy means -> Swiss nationals and C permit holders only.
Don't think so.

Got both a MasterCard and an Amex (which I didn't really need/want) with an "EU" B-Permit, 7 days after starting working in Switzerland.

I had to show my working contract and B-Permit and 10 min later all was sorted...

This was through CS if it makes any difference...
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