By the way, I appreciate that Andrew went all the lenghts to open that account as an experiment/research. To all of us: the first impression matters, so if the bank gives you a headache when opening the account, it won't get better later on. Stay away from them!

@ThePerimeters

3 жыл бұрын

..."Human R&D machine..."🤣

@marylorenzo

3 жыл бұрын

I've got a bridge to sell you right next to an ocean view property in south dakota

@thylacine1004

3 жыл бұрын

Absolutley....testing the water i say....

Comments are spot on. I live in Switzerland and can confirm that the financial services crowd and in particular bank employees here are stuck-up prats, living 100% off of the fumes of former glory

@adamnixon5503

3 жыл бұрын

@@sheiladikshit5110 What a ridiculous false equivalence.

@Timberhawk

3 жыл бұрын

Remember the tagline: "Go where you're treated best." This includes: "Avoid where you're treated poorly."

@stephengeorgemalcolm1975

3 жыл бұрын

@@Timberhawk I hear you. I should add that other than some of the problematical behavioural traits, particularly in financial services sector, life here is actually pretty: low taxes, high quality of life, no diversity so very low violent crime.

@mela6046

3 жыл бұрын

@@Timberhawk Amen

Sounds like you got the Swiss equivalent of "Don't call us we'll call you when we want to"

Lesson learned: Stay away from cold banking jurisdictions. Here in Seoul, Korea, you'll get VIP service at any bank, regardless of your nationality. Culture makes a big difference.

@rberding

3 жыл бұрын

I am a retired EU citizen in Panamá. 1.1/2 hours to open an account with all required paper work.

@buoyohbuoy790

3 жыл бұрын

If I may, in my humble view, this has proven over and over again to be a non-viable model. Look at Bank of America, HSBC, Citibank... Premium service comes at a cost. A bank may invest to grow their consumer base, but in the long run no one can manage unprofitable customers. Unfortunately in the end this is a sellers market... Not everyone likes it, particularly since people earn their money working really hard, but this is the way it is...

@AZ-qm4gz

3 жыл бұрын

Nobody is asking for premium service here. A streamlined online application which wastes no human time on both sides and keeps cheap customers at bay - would have solved the problem. The problem is that EU volumes do not justify investments into streamlined online apps. The US has its fare share of banking boutiques but they do not compete with banks for the unwashed masses.

@jasontoussaint6071

Жыл бұрын

What is the minimum deposit?

@chrish.4729

Жыл бұрын

@@jasontoussaint6071 No min deposit, but you do need a Korean ID card to open an account.

Banks have long left the banking business. It's no wonder so many people are moving away from the traditional banking world for good. They're all gonna be shocked when they have no customers whatsoever.

@chrish.4729

3 жыл бұрын

So true. DeFi is slowly but surely gaining market share - 9+% yields vs 0.2% yields. The Voyager app and Celsius Network are a great starting point.

@PrototypeThinker

3 жыл бұрын

This is exactly how thieves in white collars robbed people of Swiss franc loans in Poland so far we are waiting for court rulings that are ongoing and they do not want to admit that they openly broke banking law on currency spreads and abusive agreements. Banks pretend nothing happened all the time.

@jeffweingrad4658

3 жыл бұрын

I spent some time in a skyscraper of a bank. I couldn't figure out which floor actually did anything relating to being a traditional bank. The waste alone was staggering.

These edgier videos of late are amazing. Appreciate you sharing your experiences.

@TheMega12121

3 жыл бұрын

their edgier bc he iz slowly learning that he iz a subject of tha global moorish empire and he owns absolutely nothing at all.

@fivegkills6111

3 жыл бұрын

@@TheMega12121 Ah, the Black Nobility? 🤓

Andrew. I had a similar experience in Bulgaria. Zero customer service accompanied by open hostility. Though it is a beautiful country, the attitude of the staff in banks is appalling. Thank you for always sharing valuable tidbits of life overseas.

@dns9155

3 жыл бұрын

I can confirm people in the desk jobs are rather unfriendly and not willing to help. I was born there and lived a bit, even though I have never opened an account I do have horrible experience with renewing my passport and being taxed like crazy for an ID card that I didn't renew because I never needed it and I was away from the country for many years. My sister got issued her passport when she was 3 months old and then by the time we had to renew it again, she was 5 I think and they didn't wanna renew hers because apparently she was not the same kid. Well no shit she had the passport when she was 3 months old, kids grow. If you are gonna say you can't recognise the kid then make the passport for toddlers expire much sooner and then you will know its the same kid, but I think it was more just the person there being a bitch and trying ruin your day to make themselves feel better about their miserable life.

His acting of the upper class in Switzerland @11:58 😂😂 Nice one!!

I heard years ago that people in France sometimes took their banker out for an expensive diner. That sounded so strange to me, like they bestow a gift up on you by having you as a customer. In the Netherlands I never heard of that. But I guess nowadays the government is their main buddy and the compliance departments would like it best if there were no customers at all.

It’s professional to mention names because you’ll be helping us avoid land mines. Those legacy brands don’t deserve the anonymity you’re giving them.

@billieford9683

3 жыл бұрын

You have to have between 250,000 and 500,000 to deposit. Do you?

@adamnixon5503

3 жыл бұрын

@@billieford9683 Not true. A minimum of 25k for example, you piss of/turn off hundreds if not thousands of people, that's a millions in deposit and many multiple times that in loanable capital.

@billieford9683

3 жыл бұрын

@@adamnixon5503 shows what you know, darling, of a top tier Swiss bank.

@TheMoneyGPS

3 жыл бұрын

He's doing the research for his clients. He doesn't want to publicly mention the company names.

@owenjohnson7447

3 жыл бұрын

Pay for his service if you want the real info. He is saying that specific name is not for free

The first thing I do each morning is watch Andrew Henderson. Along with great advice, he makes me chuckle.

I think it is very important to share the name of the bank. this will put the spotlight on the issue, which eventually allows the bank to solve its issue.

I think Andrew should start his own bank. Most of us would probably want to open an account there.

Yes, i dealt with a Swiss bank briefly in the late 90's. The arrogance and condescension oozed from the "gentleman" i was speaking with. I am very very happy with the advent of cryptocurrency. It has largely eliminated my need to deal with foreign banks ever again.

Singapore has a failed banking system now, Westpac closed my account with 2 weeks notice to remove the money, I had banked with them for 30 years, they put a USD 1 million minimum balance. My personal manager was fired, she said that many employees were being fired, I had to fly to the other side of the world to open an account, I don't live in Singapore.

@luv2travel2000

3 жыл бұрын

Terrible. Hope Andrew does a video about this. Maybe send him an email?

@grancito2

3 жыл бұрын

@@luv2travel2000 I hope he reads comments.

@alwayslearning7672

3 жыл бұрын

Barclays are now closing accounts if you haven't an UK address linked to the account.I was with them 20 yrs,they didn't care. Brexit has changed everything.

@grancito2

3 жыл бұрын

@@alwayslearning7672 That is bad, I hope I don't have that problem where I am banking now, not a resident there, but need to bank in foreign currencies, that is not available here. The problems come from the dirty USSA government and their IRS.

@alwayslearning7672

3 жыл бұрын

@@grancito2 I've started using N26 for the time being and other such App fintech accounts.I'm pretty sure Andrew can advise.He got out!

Great vid. I have zero tolerance for this arrogant BS mistreatment by corporations of any type. Life is WAY too short!

That's classic European old guard. And within the institution they treat each other that way too- fairly mundane steps require formal request up the chain that may take hours or days to be approved. Everyone knows their place caste-style, owner \ c-suite refer to employees as servants, the only customers they value are those with kazillions and coat of arms surnames. This is classically why the vast Euro migration created the US- arriving emigres would most often say they left because they couldn't get ahead without the right surname and having to navigate such glacial & imperious bureaucracies.

Andrew, you would do great as an actor! 😁👍

I’ve never been comfortable with snobbery.

You were hilarious while explaining this. Love your channel. All the best to you and Mrs. H.

I love your animated description of your banking experience. I just went through a very similar experience with my HOA! I still get to pay my HOA every month for their rudeness and lack of service. Thanks for giving me a laugh along with where not to go for banking.

How about doing a video on best non-US online banks. That would be very helpful.

I have only good things to say about Citibank Singapore as an overseas client. Helpful, straightforward, responsive, practical service. Excellent online banking. That's all I want and they deliver.

@MarkRobert-BKK

3 жыл бұрын

Did you have to physically visit their office in Singapore for account opening, or did they accommodate remote application/opening?

@GapBahnDirk

3 жыл бұрын

@@MarkRobert-BKK It was all done remotely, from Thailand.

@MarkRobert-BKK

3 жыл бұрын

@@GapBahnDirk Cool! I live in Bangkok, but used to bank with Citibank when I lived in Singapore 15 years ago (unfortunately I closed my account when I moved to Bangkok). I note they have been advertising quite a bit lately for new offshore clients. I might therefore respond to the advert to get the ball rolling. (If they have a 'member-get-member' promo perhaps you could refer me to your contact there).

@GapBahnDirk

3 жыл бұрын

@@MarkRobert-BKK They do, but never mind. Thanks anyway and all the best....

@chrish.4729

3 жыл бұрын

@@GapBahnDirk That's great to know. Thanks for sharing your experience.

Andrew, the world is always behind on leaders who are cutting edge. I do appreciate your personal interest in how things work, so don't give up the ship:)

The “costs” (time and fees) of banking abroad are part of the unintended consequences of working and living in countries with little or no taxes. Great video! The biggest and most important challenge of making big decisions is not knowing what you don’t know. That is, there are things that we would not even know to even ask the right questions. Your videos greatly help create and manage realistic expectations.

Ha! This video made my morning. I had a similar issue yesterday. No names or details given, but I can definitely relate to Andrew.

Amazing. Thank you for sharing. Quality customer service is so important.

That's what I hate about the internet. I like old school phone calls. You can't ring peoples neck physically, but you have a better shot at ringing it mentally:)

Good story... yes, they do act like that! Perfect showcase of nose-in-the-air, haughtiness 😂

Yup, premium banking here in Czech works fine, with some nice goodies they give (airport lounge, nice bank cards, free tickets,...). I do hear that things could be tricky for US citizens though...

Great stuff as always. Thanks much.

I find these quite educational, even just how you think through simple decisions, practical and intelligent material. Gracias.

Andrew thanks for sharing your experience 🙏🏼

This is very typical of Swiss banks, I have some stories of UBS that would shock you, the arrogance, incompetence and vindictiveness is hard to understand when you come from an Anglo-Saxon background. Unless you live there, better steer clear.

@TokyoTaisu

8 ай бұрын

I have a friend who used to work at UBS (quite high up). He called it "P and I" short for "Politics and Incompetence"

You are absolutely right about opening foreign bank accounts. We are Americans who opened bank accounts in the U.K. and Spain successfully, but it was a wild ride!

Thank you Andrew for sharing. Interestingly, as a Swiss citizen and living abroad for more than a decade, I have been receiving the exact same treatment and disrespect from Swiss banks. I was kicked out from one of my bank as my profile was alledgedly too risky for them (although I am just a small fish in the great scheme of things. Very ironical to talk about risk when I see scandals piling up - Greensill, etc - which clearly shows that we don’t share the same definition of risk). I am now going where I am treated best, and this Singapore in my personal case!

I like your comments but let me tell you I had great relations with swiss banks BUT I did it personally- okay I do speak German and French- Switzerland is a small country and they like to do it down to earth. But you are right in your case the "fees" are disgusting!

@walterhighwood3209

3 жыл бұрын

I speak standard German, but Schweizerdeutsch(Swiss German) is just a language from a completely different planet 😅

@rivenoak

3 жыл бұрын

@@walterhighwood3209 high german is an official language in switzerland, they ARE fluent in it the second you show up. :D

@tinolino58

3 жыл бұрын

@@rivenoak we hate high german...

@litaf918

3 жыл бұрын

@@tinolino58 Ihr seid einfach nur neidisch

@tinolino58

3 жыл бұрын

@@litaf918 schluchz 😪

Thanks for sharing! Glad that banks in HK, Singapore, and many south east Asian countries delivers much better service!

I’m sorry you had such a bad experience and it sounded like quite a nightmare. I’m going back about 15 years, but I actually had a very positive experience with one of the legacy Swiss banks. Maybe I was just lucky and it was before the financial crisis so perhaps things have changed dramatically since then. Anyway, good on you though for not letting them push you around!

Well, as a former Swiss banker, I can tell you that they will not be interested unless you deposit 100m CHF in securities or cash. Money makes them less difficult read exKing Juan Carlos no problems......................In Europe use online banks from the major banks, who can afford perfect computer system. Private banks are for people, who wants to be wined and dined at their own expense.:-)

@TokyoTaisu

8 ай бұрын

That's exactly what my private swiss banker tells me haha!

I love this channel !!

Good analyse. You nailed it exactly right. We ourselves have had many nasty situations with client unfriendly banks. From blocking small and large transfers due to nonsense compliance issues to to bad responding or totally non topic answers on simple questions etc. Banks became horror. From the people we know in the banking sector over regulations from the EU with all kind of AML directives and laws banks also became half paralysed. Banks don't seem to care if you can't obey to contractual obligations in international transfers for real estate for example. Really unworkable and business unfriendly.

@fivegkills6111

3 жыл бұрын

Say hello to the blockchain future!

Cracked me up the comparison to converting to Judaism. 😂

@cleanerclimate278

3 жыл бұрын

Totally - so flippant in nature too.

Thank you for an informative video.

Thank you for the information

... Good to know. Thank you, Andrew.

Nomad is the man!!!!

Great lesson!

Thanks for sharing this! Some helpful hints here:-)

thanks for sharing your experience. I am having a sim9ilar experience with BCR bank in Costa Rika. They are asking me for the source if funds and it takes weeks to clear a $100 deposit.

@fivegkills6111

3 жыл бұрын

Sounds like a nightmare 🤯

@mobileandroid5299

3 жыл бұрын

Thank you for disclosing this.

thanks Andrew for sharing I appreciate it. I'd like to ask you what is your experience with the good banks ? maybe you could consider doing a video for that.

You pretty much nailed it.

Good video !

Thanks for sharing your experience. I hope not all banks in those 2 countries are like the ones that you referred to.

@BC-up8nc

3 жыл бұрын

No not all Banks are like that, also please keep in mind that an employee is not the Bank, often these positions are abused not always acting as the Bank CEOs and Owners wish their clients are to be treated as. In my opinion often a make or break situation regarding to whom you talk to at the Bank...

@dwlof

3 жыл бұрын

@@BC-up8nc Thanks for your comment

To all just to make clear that Being Rich has nothing to do if you are wearing a Suite or not, Everybody should be treated with respect and always be treated as a good intentioned person before proofen to be other than that, this also goes to Banks and Goverment. Not all people who would like to invest in a new country are criminals. - My Opinion-- And as always great Content Andrew.. Thanks and greetings from ............

@fivegkills6111

3 жыл бұрын

Well said 👍

@BC-up8nc

3 жыл бұрын

@@fivegkills6111 Thank you for your comment

@luv2travel2000

3 жыл бұрын

Well said.

I absolutely agree with you, European banks are in general horrible, i lived in UAE there it felt like heaven and i was a real pleasure dealing with banks, fast response fast and in general very good services. Then moved to sweden... OMG that was a real pain when trying to do anything related to banking and god forbid if you think about some transaction from another non EU country ... you are treated immediately as if you are a money laundering machine that is planning to destroy there Scandinavian banking paradise ... eventually my friends who where planning to invest in real estate just ran a way without looking back ... i had a final talk with them and the sentence was the following: time is money, we lose opportunity with each wasted day, the world is full of bussiness and investment opportunities and Sweden is not a part of this fast movement. You feel that the Swedish money system wants to self digest and reproduce over and over ... anyway it's a long topic

I just love watching your videos to see how the other side lives. I'm upper middle income, and perhaps with some of the insights you provide, I will increase my station. Thanks. Looking forward to reading your book Also, we have the same last name. Perhaps we're related. ;)

good information good to know thank you

Every bank in Europe has clause which you have to sign that you swear that you are not US citizen and I think that even tough you have renounced your American citizenship the banks are still scared to open an account for you.

I would like to have your book in audible. Cheers and congrats for the good work

Thanks for reminding me to close my old UBS account

I've used public banks in the UK, France, Germany and Belgium without any major problems and very little minor problems. It's just a matter of making good choices.

They didn't want your business. It's human nature. The more you tolerate bad behavior from anyone, the more disrespectful they will treat you. You wouldn't tolerate it from a client. You would know the client wasn't serious.

Normally I’m not vocal on any kind of public platform. But I have to say, well done!

@BrandonClark-StocksPassports

3 жыл бұрын

You should be

I totally understand his point.

Great info with a Shakespearean performance, highly enjoyable !

What horrendously bad customer service. Thank you for informing us of the places to avoid!

What a horror story!! Meanwhile down on the ground many companies have simply removed all customer service for us peons. My most recent no customer service experiences were with Paypal, Xoom, Moneygram and Premier Inn in Scotand.

Whats your recomendation for online banking handle both fiat and crypto?

“Now I’m the Nomad Capitalist.” Lol.

Your experience was reminiscent of my experience with BMO in Canada. To their credit, they did finally close my account, waive my fees, and send me back my full balance. But the process of getting a person on the phone and getting all of this done took months, and was incredibly stressful.

@Ziegfried82

3 жыл бұрын

So I have been banking with BMO for several years in the USA, and man have they gone to pot over the last two years. I stopped using their financial advisors because get this: they didn't have one at my local branch anymore! They stopped offering me free checks, I have been getting free checks at that branch for over a decade. Sure that's a small gesture but it's crazy to do something rude like that to somebody who at times keeps well over 6 figures in your bank. Needless to say I have moved the vast majority of my wealth out of BMO.

I am not rich but got a little bit of inheratance and what i would normally do with it is buy gold but, i live in italy right now. can you please please help us and tell us what bank to put it in? i have no good feeling about the us money and it being safe their. i want it out now. do you think an italian bank in euro is safe? also do you know near by where i could buy gold like croatia or somewhere close. we want to go now. thanks

@jukee67

2 жыл бұрын

They didn't reply. Soon money will be a whole new thing. A wealthy gentleman once told me, those with real wealth pay very little or no taxes and do not hold bank accounts with large balances. I said that is very interesting. He laughed and said when you give a bank your money it's no longer yours, it's theirs to do as they please even if they have to lock you out. FDIC insured in the US is a joke in a hell situation. We are all in for a rough time ahead. Bucket up...The past couple years was nothing.

Thank you for the report . It seems their is too much money in the world .

So true!

Would you do a video on trading platforms for stocks etc. For people in the US and Canada that wish to leave they will need a trading platform not attached to those banks / Govts.

You don't want to bank wihere a 6th generation trust fund kid works. You want to bank where the first of a 6 generation trust fund goes.

@TokyoTaisu

8 ай бұрын

yessssssss

Andrew, they weren't being nasty, you're just not put enough funds into their coffers for them to care. That's how it works. When I get to Liechtenstein I get the chauffeur, the investment team, dinning with my manager... and that's probably the same bank that treated you so poorly.

@josephschmeggins6311

3 жыл бұрын

Me too.

@adamnixon5503

3 жыл бұрын

The logic of your statement is breathtakingly bad. If you don't care about your customer, i.e. the person who is paying you money(in Andrew's case €1000's) then don't take them on as a customer and by extension don't take their money. You don't get to take their money and then treat them like you're doing them a favour. If the minimum is not in fact the minimum, then raise your minimum amount to open an account. And the notion that your treat someone like dirt because they're not your highest paying customer is morally horrible and economically stupid. It's also why 14/20 of the nations of the world by GDP are now outside of the mainland Europe.

@rivenoak

3 жыл бұрын

@@adamnixon5503 "If the minimum is not in fact the minimum, then raise your minimum amount to open an account." perhaps they should. but it also says: " move along, you are to poor to get us interested" lot of people would not stomach such honesty. :p

@flowbrandz316

3 жыл бұрын

Adam Nixon said everything I could want to say. Your logic is awful.

@mobileandroid5299

3 жыл бұрын

@@adamnixon5503 - This right here! Adam, you're a GOD!

I heard similar or worse experience with CBH bank in Geneva .....

I found this video such an eye opener, are all foreign banks this difficult to work with. If I wanted to protect my US bank deposits to what could be coming such as inflation and zero interest rates, should I be looking at moving my money to foreign banks?

Can you recommend good bank in Budapest for local and foreign currency? I’m moving June 16

Can you please make a video for countries that respect the international human rights act and your medical freedoms and choices? Thank you

Are you sure you weren’t dealing with a Timeshare company...? 😂😂

@4:36, At every step I’m pushed away, like trying to convert to Judaism. Funny!

WOW...I had no clue about this........good info....WHERE ARE THE EASY BANKS TO DEAL WITH

Andrew, if US Senator Warren gets her idea enacted, requiring banks to report some account activity, will that cause more foreign banks to shun US clients? Search 1099NEW for the proposed reporting.

US Legacy brand banks behave just as bad as European legacy brand banks. Chase, BoA, WellsFargo quickly come to mind.

and how about the Lebanon,Swiss of Arabia?anybody can explain further or shared any experience 🤔🤔🤔🤔🤔

Lol here's one subscriber from Slovakia never opened a bank account there but I get that to non-eu people think we're all Polish in Eastern parts 🥲

Can you recommend a good bank in Switzerland? How about banks in Luxemburg?

Most funny episode since a long time

Stay away from Legacy Brand Countries!!! 😱😱😱😱😱😱

That was terrible customer service. People may find this strange but the credit unions seem to offer the same service and their attitudes are friendlier. At least you can buy some shares in where you bank your money and it gives you much more leverage. Just last week at my credit union I signed up for online banking and it only took me 10 minutes at the credit union to fill out one sheet of paperwork and for copies of my id to be made and for my online account to be set up by IT. I went home and I completed the process which may not have taken longer than 5 minutes.

Customer service is in the toilet in these legacy countries, no wonder business and finance is moving offshore to people who value business.

Not unimaginable in Switzerland but not the norm. More of German likeness. Switzerland -correctly said is- is filled with non-Swiss EU expats who often think they are higher beings because they have “arrived.” One thing common is inability to think out of box. However most Swiss banks are quite helpful and speed and efficiency remarkable. But, if you smell like an American... well, being American is not what it once was.

You mentioned, "private banking," is there a difference in how you would define public banking? I'm very curious as I'm studying trust law, learning about foreign unincorporated entities / associations, etc. Is there a separate banking arm that I might want to be aware of?

@FinancialAdvisoryUSA

3 жыл бұрын

Private banking is supposed to provide individualized service as opposed to general customer service. Many public banks have a private banking arm available for those who deposit a minimum amount, which differs from bank to bank. In practice, at a good U.S. private bank, you are able to call or text your banker and transact expeditiously with minimal to no formalities. Effectively, private banking is the highest form of relationship banking.

@hvacstudent967

3 жыл бұрын

@@FinancialAdvisoryUSA Thank you.

This is the most American episode. Even without a passport and citizenship. Once an American, always an American. All people are equal as long as they are customers with $$$.

I went to the Caixa Bank in Spain 12 times and could never open my bank account. I'm a legal resident of Spain.

You wrote a letter??? What year is this?!?!

Service in the Banking System and Legal System is often terrible. Especially where the two interact. Bring on the decentralized permission-less economy.

Andrew, when I become a client will you share with me the best banks to deal with?