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Old 18-06-2019, 16:34   #1
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US citizen seeks Euro bank account

I have been doing a lot of research and keep finding leads giving me hope that it is possible to open a bank account in Euros from the US, but continue to find dead ends. Does anyone have successful experience opening a bank account in Euros from the US?
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Old 18-06-2019, 16:40   #2
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Re: US citizen seeks Euro bank account

The currency allowed to denominate the account does not in any way need to correspond to the location / jurisdiction of the bank.

Many banks around the world now refuse to service US citizens, because our "know your customer" anti-money laundering and anti tax-avoidance regulatory requirements are too much trouble, just not worth the hassle.

Also, many jurisdictions only allow their banks to open accounts for local residents or companies.
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Old 18-06-2019, 17:31   #3
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Re: US citizen seeks Euro bank account

TransferWise borderless account
https://transferwise.com/ca/borderle...xplainer-video
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Old 18-06-2019, 17:53   #4
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Re: US citizen seeks Euro bank account

Depending on what your goal is a Euro Currency ETF might work for you if you cannot get the bank account to work.

https://etfdb.com/etfdb-category/currency/
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Old 18-06-2019, 18:00   #5
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Re: US citizen seeks Euro bank account

This, exactly

Quote:
Originally Posted by john61ct View Post
The currency allowed to denominate the account does not in any way need to correspond to the location / jurisdiction of the bank.

Many banks around the world now refuse to service US citizens, because our "know your customer" anti-money laundering and anti tax-avoidance regulatory requirements are too much trouble, just not worth the hassle.

Also, many jurisdictions only allow their banks to open accounts for local residents or companies.
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Old 18-06-2019, 18:46   #6
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Re: US citizen seeks Euro bank account

Quote:
Originally Posted by GordMay View Post
TransferWise borderless account
not sure why, link didn't work, CA is what Canada?

Here's a more generic one?
Quote:
transferwise.com/borderless/#borderless-explainer-video
Edit, still redirects to http://pwieu.com/blank-page ?

maybe best to just google it

looks very interesting
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Old 18-06-2019, 21:35   #7
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Re: US citizen seeks Euro bank account

Soon maybe...

https://n26.com/en-us/

https://techcrunch.com/2018/09/06/lo...olut-is-coming
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Old 19-06-2019, 08:14   #8
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Re: US citizen seeks Euro bank account

We have a Citibank account with separate accounts for Euro, Dollar and Sterling. With the Citibank app on the phone you switch between which one you want your debit card to work against.
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Old 19-06-2019, 09:23   #9
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Re: US citizen seeks Euro bank account

You should be able to open account in Caymen Islands, Cook Islands, Belize and Guernsay. Most international banks that deal with offshore clients will let you change currencies as needed.
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Old 19-06-2019, 09:30   #10
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Re: US citizen seeks Euro bank account

Just be sure as US citizens that you are open and honest with the IRS, as just like Switzerland and Mossack Fonseca, you cannot rely on their secrecy long-term.

https://ih0.redbubble.net/image.8066...-bg,f8f8f8.jpg
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Old 19-06-2019, 09:42   #11
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Re: US citizen seeks Euro bank account

+1 for TransferWise, been using them for years, in multiple currencies, without issues. I also have their free MasterCard.
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Old 19-06-2019, 09:43   #12
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Re: US citizen seeks Euro bank account

Further: we don’t use Citibank to convert money from one currency to another. We made the mistake of doing it once and found their conversion rates lousy.
Instead we pay into the accounts in the currency for that account.
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Old 19-06-2019, 10:33   #13
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Re: US citizen seeks Euro bank account

I used Barclays of London. That was a few years ago but it was easy and service was great.
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Old 19-06-2019, 11:20   #14
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Re: US citizen seeks Euro bank account

Using TransferWise is MUCH easier than the traditional banking options and MUCH more convenient if you will be moving countries and/or using multiple currencies.

AND you get MUCH better rates to convert your currencies too.

It really is a no brainer.
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Old 19-06-2019, 11:32   #15
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Re: US citizen seeks Euro bank account

Quote:
Originally Posted by jmh2002 View Post
Using TransferWise is MUCH easier than the traditional banking options and MUCH more convenient if you will be moving countries and/or using multiple currencies.

AND you get MUCH better rates to convert your currencies too.

It really is a no brainer.
Better rates than PayPal?
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