try Mac Donald's...
zerotonine, Jul 30, 08 14:48

depending on who your employer is, they should be able to advise you on such matters.  But you bring up an interesting topic, in that whey you say UBS is no longer an option, how does it affect those of us who already have an account with them?  I've not heard anything from them, which is why I'm surprised to hear this.  You can always try HSBC. I've not really seen any Citibanks in Geneva come to think of it.
YouMeCo, Jul 30, 08 15:06

i'm surprised to see that you are not aware that for that last 5 years EVERY bank in the world has been "requested" by the USA to reveal who their american clients are. in switzerland, this means that americans holding bank accounts have been required to sign an anonymity waiver, allowing the bank to reveal to the US authorities your account information. HOWEVER there is one banking service here in switzerland which does not comply to this US requirement. do you know which one?
epicure, Jul 30, 08 15:16

At least American banks have an FDIC limit of $100K vs swiss bank only insure up to 30K CHF.  And don't expect the Swiss banks to give you interest on your deposit (<1%) so maybe time to invest in a safe deposit!! 
YouMeCo, Jul 30, 08 15:33

the only banking service that does not require americans to sign a W9 form is:

the post office (swiss post - post finance)
epicure, Jul 30, 08 16:24

Thanks every one for your information. I guess I should explain myself.



Yesterday, my English husband and I went to the local UBS in Rolle to add me onto the account he'd set up a few months earlier. When they saw my passport (for some reason they thought I too was British) we were told that UBS could no longer accept American passport holders! This is not a private investment account, just a simple checking account. They gave me the card of a specialist based in another office who deals specifically with American clients to see if "maybe" she could help me out though I was warned it could take some time and there were no guarantees. My concern was that this policy, which UBS said had gone into effect only in the last couple of weeks, could be extended to other banks. Instead, after the feedback you've all sent, it sounds like this really shouldn't have happened at all! In any event, contacted BCV who said there will be no problem so will hopefully have an account opened on Monday morning.



As for what I mean by a "good" bank...pretty low level really -- just one that will let me open an account and has people at branch level who speak English as I've only been here two weeks so my French is still pretty basic. Although, a high-interest savings account wouldn't go amiss...
pengrem, Jul 30, 08 16:55

[quote]the only banking service that does not require americans to sign a W9 form is:



the post office (swiss post - post finance)[/quote]



Really Really dumb question, maybe, but does the Swiss Post Finance offer investment vehicles like UBS or Credit Swiss? Being an American, there are certain securities that I just can't buy or am required to talk to the private banker to arrange a purchase, with everything being reported to the US. Anyone wanna sell me an EU passport? :D Seriously, though I knew Post Finance was a bank, I never thought of it as a serious option until now so I am curious....... Guess I need to make a trip to find out.



And everyone, play nice-nice with your answers. :cool:



Tanx!!!
demetris69, Jul 31, 08 10:54

only banking.......i.e. payments, savings etc. trading in US stocks requires you to inform that you are a US citizen. they may have decided to exclude US citizens from trading, as this is done via their bank ( credit suisse i believe) but for retail banking activities, no W9 forms are required. HOWEVER: you are required by US law, to reveal ALL bank accounts, foreign and domestic!! ( only if you have an aggregate amount of + $ 10,000 or more )
epicure, Jul 31, 08 14:06

[quote][quote]the only banking service that does not require americans to sign a W9 form is:



the post office (swiss post - post finance)[/quote]



Really Really dumb question, maybe, but does the Swiss Post Finance offer investment vehicles like UBS or Credit Swiss? Being an American, there are certain securities that I just can't buy or am required to talk to the private banker to arrange a purchase, with everything being reported to the US. Anyone wanna sell me an EU passport? :D Seriously, though I knew Post Finance was a bank, I never thought of it as a serious option until now so I am curious....... Guess I need to make a trip to find out.



And everyone, play nice-nice with your answers. :cool:



Tanx!!![/quote]



Hi Demetris.



I have an investment advisory firm and often come accross the difficullties you just described.



I dont think any European bank bank is, especially now, in a position to ignore the risks associated with being consodered to be 'assisting' US persons to avoid their US tax obligations, and so I dont have any helpful suggestions about that.



I do however have solutions to widen the choice of investments which you can purchase. As you'd expect though .. the minimums are pretty high.



A social site isnt really the place for business promotion, but a quick look at marketplace and city guide reveals everyone else is at it .. so what the hell :-)
wilycoyote, Jul 31, 08 14:28

I've got a similar question, but this thread hasn't answered it quite yet so here is my situation:



I want a bank in Geneva that will give me (an American citizen) a savings and/or checking account with a small minimum and low or no ATM fees in and out of Switzerland (I would like to use it in the rest of Europe as well). The lower the fees the better; and I don't need anything fancy, just a place to park my money and a debit or credit or check card or whatever.



Any suggestions? Thanks!
Vazza, Sep 16, 08 12:58

This is a bit off subject but it is US/Swiss banking.  Assuming that I (US citizen) could open a bank account here; what is the best way to transfer US dollars to it?  On the same hand, what about transferring CHF to Euros??  Thanks!
smoore4, Sep 16, 08 13:23

You are married to a Briton? Get a British (EU) passport and show that to the Bank.



[quote]Thanks every one for your information. I guess I should explain myself.



Yesterday, my English husband and I went to the local UBS in Rolle to add me onto the account he'd set up a few months earlier. When they saw my passport (for some reason they thought I too was British) we were told that UBS could no longer accept American passport holders! This is not a private investment account, just a simple checking account. They gave me the card of a specialist based in another office who deals specifically with American clients to see if "maybe" she could help me out though I was warned it could take some time and there were no guarantees. My concern was that this policy, which UBS said had gone into effect only in the last couple of weeks, could be extended to other banks. Instead, after the feedback you've all sent, it sounds like this really shouldn't have happened at all! In any event, contacted BCV who said there will be no problem so will hopefully have an account opened on Monday morning.



As for what I mean by a "good" bank...pretty low level really -- just one that will let me open an account and has people at branch level who speak English as I've only been here two weeks so my French is still pretty basic. Although, a high-interest savings account wouldn't go amiss...[/quote]
Stef__Granny, Sep 16, 08 15:00

Are you kidding? No matter how many years you've lived in the UK or how long you've been married to a Brit, you can't even apply for a UK passport without taking the Living In Britain test based on a 150-page book that's been updated about 4 times in as many years (and if you've studied one version that's suddenly updated with a newer one, too bad -- start again), and you have to be living in the UK at the time of application, and cannot travel outside the UK more than 4 weeks during the year that the application goes through. So, not an option for me...or many other people who have busy lives and travel a fair amount.
pengrem, Sep 16, 08 15:25

for securities investments post finance is like any bank and they will require all usa citizens to sign the same papers. it's only as a holder of a savings or checking account that no documents need to be signed because of nationality. post finance offers world wide valid atm cards, internet transfer for bills etc. also, they are open on saturday mornings!!!
epicure, Sep 16, 08 16:07

The only way to have fees waived is with a relatively high minimum balance (e.g.10K).  But if you withdraw non CHF currency, you pay commissions regardless.  

"But be ready to pay for the cards, nothing ( or almost nothing) is for free today." (Lalla74)

Yes... be careful also NOT to forget your pin or make a mistake with 3 wrong entries on either your cash/debit card or your electronic banking card, because unlike in the US where you can go to the bank and have it reset... here they issue you a new card if you lock yourself out and get charged 20CHF.  Every e-banking transaction you will cost .30, every cash withdrawl from bank that's not yours can be 2chf.  So withdraw big but don't spend it all at once. 

What I found amazing is that here in CH there have such a large denomination - 1000CHF bills :blink: 

This country is not a "banking" country for nothing, but definitely favors the upper end of the spectrum :ermm:

(footnote: Facts/Figures are based my own national swiss bank)
YouMeCo, Sep 16, 08 17:03

Thanks for the tips everyone. I guess I'm used to American banks that charge no commission whatsoever if you use the bank's own ATMs.
Vazza, Sep 16, 08 22:09

[quote]The only way to have fees waived is with a relatively high minimum balance (e.g.10K). But if you withdraw non CHF currency, you pay commissions regardless.



"But be ready to pay for the cards, nothing ( or almost nothing) is for free today." (Lalla74)



Yes... be careful alsoNOT to forget your pin or make a mistake with 3 wrong entries on either your cash/debit card or your electronic banking card, because unlike in the US where you can go to the bank and have it reset... here they issue you a new card if you lock yourself out and get charged 20CHF. Every e-banking transaction you will cost .30, every cash withdrawl from bank that's not yours can be 2chf. So withdraw big but don't spend it all at once.



What I found amazing is that here in CH there have such a large denomination - 1000CHF bills :blink:



This country is not a "banking" country for nothing, but definitely favors the upper end of the spectrum :ermm:



(footnote: Facts/Figures are based my own national swiss bank)[/quote]



Which bank do you use?
Vazza, Sep 16, 08 22:10