Before I get started, I know about the old threads on this. I've read them. But the situation/circumstances changes often, so I'm making a new one. And there is a fine detail in my case.
I'm a recent arrival from the US. I have a bank account with PostFinance and have signed a lease. I'd love to use SwissCaution to cover the rental deposit, I'm not concerned about the annual fee, but the landlord doesn't want to use it. PostFinance doesn't have the rental deposit accounts, so can't go there. I've talked with Credit Suisse, UBS, BCV, and Raiffeisen, all of whom say they are not accepting new American accounts (I know a few people who have accounts that have not been closed, they just aren't opening new accounts).
So, I have a couple of questions:
1) Are there any other options that I'm just not aware of?
2) If I can't find a way to open an account, what happens to my signed lease? Does it just become invalid because I never paid the deposit? I've emailed the landlord to say I'm having trouble opening the account, I'm still waiting to hear back.
Two years ago the only UBS branch that dealt with US citizens in the region was the main Geneva one, Rue Confederation something. The other branches used to send you there. Maybe call them to find out - i would be surprised if they say no as well. If you have all the paperwork (passport, contract, lease, permit receipt) they give you the accout number on the spot.
Tried a couple in Lausanne. If an American has opened one in the Lausanne area recently (within the last few months) I'd love to hear the location.
When did you open your account it? If you opened it awhile ago, that's one thing. With all the shenanigans going on at the moment I'm sure it's made it only harder to open accounts for Americans. Trust me my senator and representatives will be getting a letter.
Well, granted I haven't been to multiple branches of each bank, but UBS, Credit Suisse, BCV, Raifaiseen all said they won't open accounts for Americans.
The landlord doesn't care what bank, but unfortunately that's not the issue....
Do most people not read the other posts or the news? It is basically impossible for an American to get an account at any "banks" in Switzerland. What happened two years ago or so does not apply today.
PostFinance receives their banking license this week. You might be able to start a deposit account there. Then again, once PF becomes a bank... who knows how their accounts with Americans will develop.
Can't tell if you are referring to me or him there. But the problem is there are many contradictory threads here. And this situation of banking for Americans seems to be changing pretty often, hence the need for new threads on the topic periodically.
If something useful comes out of it, that's useful. And if nothing comes out, that's at least somewhat informative too.
You have to go to a main branch, eg in Lausanne at St Francois 16, if you haven't been to that one. The small ones have no idea how to deal with you.
The rental surety account can be in any bank, but if it's of course better to be in the same bank as you, as that way I get to see it on my e-banking (though I cannot move the money of course). The only legal restriction is that the renal surely account has to be in a branch at the same Canton as the property, but the bank automatically sorts it out (they give you an account number that corresponds to a branch in the canton).
You need a deposit account? Then I guess my last was for you.
I just don't get the others advising you to go to CS or UBS or whoever... Americans just don't get accounts there (under 1M).
Going to ten different offices of a large bank won't make a difference, they all run by the same rules. There is plenty of news about banking in Switzerland these days. If you have something new, then bring it on. But your topic isn't new... just a repeat of a plea for a bank account as an American in Switzerland.
It makes no difference what so ever where the account is. You can have e-banking at any bank you have an account. So what is the bit deal having two different e-banking or not? Nothing!
For my last two apartments the account was opened for me by the landlord and i had to present exactly 0 documents to open this account. I am receiving an annual report from credit suisse wit interest earned and etc.
This was quite recent too. I would talk to the landlord, explain your situation and see if he can open the account for you.
The best option for an American to obtain a rental deposit account in Switzerland is to give up the toxic blue passport. Swiss RTS reported on April 27, 2013 that 900 US citizens and permanent residents returned their US passports and greencards at the US Embassy in Berne in 2012:
The RTS report is called "Avant, j'étais citoyen américain" and is still available at the link for April 27, 2013 . The relevant passage is (translated):
"Americans have had enough. Dual citizens rushed to the Embassy to renounce their nationality. According to estimates of the consul general himself, there were three times more in 2012 than in the previous year. According to figures of American Citizens Abroad, which it says are supported by public statements made by the Ambassador, about 900 dual citizens and green card holders renounced their citizenship last year."
Mine was done this way, too. Then the bank with my deposit money (UBS) sent me forms that I have to fill out because I'm American. I just filled out the forms and sent them back in. No problems or anything besides that.
My regular bank account is with Credit Suisse. As far as I know, they are still accepting American clients as of a few months ago. Do you have a valid work permit, work contract, right to live here, etc.? With the right documents, as far as I know, this shouldn't be a problem. I only ask, because I know as soon as I leave, I have to close my account here.
The Franco-American Flophouse blog published an article on the difficulties that Americans abroad are experiencing in obtaining banking services due to their unfortunate citizenship. Although the article focuses mostly on France, she listed several general pointers on how to respond:
"Hanging Together: If you or someone you know is in this situation, the first thing to understand is that you are not alone. This is happening all over the world as FATCA marches toward implementation. I urge you to send your story to one of the above organizations - the more documentation they have, the more effective they can be on your behalf. Remember Ben Franklin's saying: "You must all hang together, or assuredly you shall all hang separately."
Contact Local and Regional Lawmakers : If you are a dual citizen or an Accidental American then talk to your local or regional lawmakers too. If you are in Europe then you should know that there are Members of the EU Parliament who are very interested in the impact of FATCA on their citizens. A letter to your country MEPs with a copy to Sophie in't Veld (MEP - The Netherlands) is definitely a good idea.
Know Your Country Law : Depending on the country you live in, the bank that refuses you or who tries to close you existing accounts, may be in violation of local law. ACA has this article about Germany which is not terribly encouraging but every country is different so it's worth taking the time to find out what your rights are."