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Banks accounts

 
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naturegirl321



Joined: 04 May 2003
Posts: 8829
Location: home sweet home

PostPosted: Wed Dec 29, 2004 3:25 pm    Post subject: Banks accounts Reply with quote

I-m looking to open a bank account in Europe (since the dollar is going down the tubes ) and kicking myself for closing my Scottish one Sad Anyone know which countries are easiest to open bank accounts in besides Switerland?
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spiral78



Joined: 05 Apr 2004
Posts: 9133
Location: On a Short Leash

PostPosted: Wed Dec 29, 2004 3:50 pm    Post subject: Reply with quote

You might try Luxembourg. After all, it's their primary industry!
But, probably not the CZ. The banks there, while much more stable than in past years, are still sort of solidifying their services. I think in January it's possible to maintain a Euro account in the CZ, though.
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naturegirl321



Joined: 04 May 2003
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PostPosted: Wed Dec 29, 2004 4:02 pm    Post subject: Reply with quote

What documents do you need to open a bank account in CZ?
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naturegirl321



Joined: 04 May 2003
Posts: 8829
Location: home sweet home

PostPosted: Wed Dec 29, 2004 5:01 pm    Post subject: Reply with quote

http://www.banque-de-luxembourg.com
Though I think that you need to be an EU or Switerland resident
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spiral78



Joined: 05 Apr 2004
Posts: 9133
Location: On a Short Leash

PostPosted: Wed Dec 29, 2004 8:50 pm    Post subject: Reply with quote

To open a CZ account you just need a valid passport. I think you probably still have to go there in person to do it. And, they want your 'permanent' address + a Czech one, but I'm not sure if the CZ address is an absolute requirement.

I still think other countries might offer a more stable environment for a euro account, though.........
I had a Luxembourg account as a North American, and still have a Dutch one....but opened both when I was actually in residence, so that could be an issue.

Have you considered one of those well-known tax evasion havens? (Andorra, maybe?!) They must be pretty open to whomever.....
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naturegirl321



Joined: 04 May 2003
Posts: 8829
Location: home sweet home

PostPosted: Sun Jan 02, 2005 4:45 pm    Post subject: Reply with quote

Thanks, I'll have to do some more research about this. Everything is so difficult!
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merlin



Joined: 10 May 2004
Posts: 582
Location: Somewhere between Camelot and NeverNeverLand

PostPosted: Wed Jan 19, 2005 11:46 am    Post subject: Reply with quote

Ummm... I'm pretty sure it's a bit more difficult to get an account in CZ than just showing your passport.

There are still a lot of restrictions on foreigners, unless they're permanent residents.
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spiral78



Joined: 05 Apr 2004
Posts: 9133
Location: On a Short Leash

PostPosted: Wed Jan 19, 2005 4:15 pm    Post subject: Reply with quote

Yes, like I said, they also wanted a Czech address when I opened mine. And, I'm not sure what they would want from Naturegirl - my passport shows that my spouse is Czech, which simplified the issue greatly, perhaps.
But the CZ allows Euro accounts this year, so I guess it may be possible for a non-CZ, non-resident to open an account....it could be worth looking into, at least as a last resort.
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Arab Strap



Joined: 25 Feb 2004
Posts: 247
Location: under your bed

PostPosted: Mon Feb 07, 2005 9:02 pm    Post subject: Reply with quote

I was, as a UK citizen, able to open a bank account with the CSOB (Ceska Obhodni Banka) in US dollars 3 years ago in Koprivnice CR using my passport as id.

I'd like to meet the teacher who's making enough money in the CR to justify opening an off shore account in the Camen Islands!!!!

Czech banks offer little if any interest and charge you for everything including withdrawing money from an ATM (even from your own bank), statements and bank to bank transfers at a ridiculous commission.
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merlin



Joined: 10 May 2004
Posts: 582
Location: Somewhere between Camelot and NeverNeverLand

PostPosted: Tue Feb 08, 2005 6:36 am    Post subject: Reply with quote

Quote:
Czech banks offer little if any interest and charge you for everything including withdrawing money from an ATM (even from your own bank), statements and bank to bank transfers at a ridiculous commission.

Yes, at 5 crowns a pop (25 cents) those charges can really start to add up! Laughing
But this is a trend - when I was in the US a few years ago I had a really difficult time finding a free checking account. Only one bank in the city had such a setup and you needed $500 minimum.

Reminds me of a story:
Young boy got $100 from his dead grandma. His dad remembered the lesson his father had taught him when he was a lad and so he brought his son down to the neighborhood bank to open an account. Well, to make a long story short in about a year the boy got a letter from the bank saying he OWED the bank $50. His account had quickly fallen below the $100 minumum and charges had quicly eaten up the rest. Moreover, the bank was threatening to report him to credit agencies and damaging his future credit rating.

The boy learned a valuable lesson about banking that year, but it wasn't exactly the one 'ol dad had in mind.
Wink
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Arab Strap



Joined: 25 Feb 2004
Posts: 247
Location: under your bed

PostPosted: Tue Feb 08, 2005 8:10 am    Post subject: Reply with quote

Is it not more like 20CZK charges????

You may laugh but 25cents goes a long way in this country (three bread rolls) and 1/3 of a beer depending on where you drink.
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merlin



Joined: 10 May 2004
Posts: 582
Location: Somewhere between Camelot and NeverNeverLand

PostPosted: Tue Feb 08, 2005 12:29 pm    Post subject: Reply with quote

Yeah, I was just in a funnin mood.
The Banks really do nickle and dime you to death. Sometimes you need two accounts, or even three or four. (one personal with a withdrawl limit to protect the rest of your money, one with the bulk of your money but not really accessible, one for foreign currency, and lastly one separate one for business. Then if you have separate accounts from your spouse ...) all those charges really add up quickly on multiple accounts. Probably enough to buy something like 10 boxed pizzas!
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