rileypool

Is it possible for a US citizen living in the US with no real estate holdings outside of the US to open up a Euro-denominated bank account?

I've looked around online and couldn't find anything current and concrete.

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papajohn56

How to open a Euro denominated bank account?

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ThatSwissIMGuy

Why not buy a fund that passively tracks the German stock market? If you don't need the money, that would be a MUCH better investment. You'll ride the stock market up and you won't lose money because the dollar sucks.

CPAPIMP

was looking at this as well, good call on the FW link

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Andrew Scherer

I was listening to an international living seminar about this bank in US that can hold funds denominated in a basket of currencies... man kind of vague but I cant really remember the details...it would be interesting if anyone knows banks that do this? I think it might be some kind of financial product tho (CD?), probably not worth it.

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EmailSpamMrktng

why you need an Euro account? do a lot of business in Euro? major credit card bank will do the conversion for your.. with a little fees of course.. if you want to invest in Euro denominated asset.. buy their stocks.. ETFs...

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070707

I have a Euro bank account in Spain. Not too hard at all. (for an american)

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ThatSwissIMGuy

Maybe because the dollar is going to shit and the Euro is doing well?

Fatbat

You could open a multi currency account (pounds, euros, dollars) quite easily in Gibraltar at a bank like NatWest Offshore, Barclays, RBS, Jyske, etc.

I have two such accounts plus my normal sterling current account at NatWest.

This way you can instantly move money between currencies inter account and they have robust online banking with a chip and pin sign/countersign device with which you can wire money anywhere in the world very quickly. My wires to the US typically get there the same day or the very next day.

One thing to note is that Gibraltar recently signed a tax treaty with the US, so if you are just looking for a place to move money easily between currencies, it's brilliant, but if you're looking for a place to hide your money, it might not be the best choice.

You could also look at setting up a bank account in Malta, Cyprus, Panama, the Channel Islands, Isle of Man, Switzerland, Luxembourg, etc. etc. etc.

I have a couple of those as well, at La Caxia and Santander. Fairly easy to get though they typically want you to have an NIE number (Spanish version of SS or SIN numbers), and not quite as versatile as a multi currency account in Gib.

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Webwonder

You know what sucks?

Having to do business and pay people in Euro with USD! At this exact moment $1.00 = 0.737 (I don't know how to type the Euro symbol). That fucking sucks!

ricdes

he'll lose money on the whole stock market up and down.

well, this is not quite true. They way the shit is going with greece, portugal and Spain, the EU will have to print quite a lot of money to bail them all out while the US is gonna take the bailout money slowly back... Word is that the dollar will go up the next 6 months while the euro is going to take a serious hit.

Riley, just get a currency account at some major bank in the US.

Nobody with a sane mind in Europe is going to take you as a client anymore if you're a US citizen or have a green card. A few will still do it if you can prove them that you're not gonna hide the money from the IRS. I can tell you that its gotten so bad that Swiss credit card companies now don't even give out credit cards to US Citizens anymore.

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Fatbat

You know what sucks?

Living in Europe and earning affiliate monies in US dollars

Just bugging ya. I feel your pain.

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ThatSwissIMGuy

I disagree, if he has enough money to put into a Euro Acct I assume he won't be needing it since it would be stupid to transfer it short term due to all the fees. The markets will definitely go up over the next 3-5 years while the dollar will definitely go down vs. the Euro as the US really has nothing going for them atm. I agree that Greece etc. will become a problem but unlike the US, they will actually be forced to start saving since they won't be able to monetize their debt. The US will just happily keep printing money until China decideds to ruin the US economy by pulling out their loans.

ricdes

I disagree with you disagreeing with me disagreeing with you.

https://www.db-markets.com/portal/ap...ydbm06_page_15
I found a few other prognose charts regarding this from a few forex sites but I think this will serve well.

The USD is undervaluated while the EUR is slightly overvaluated. The crash that you are prognosing won't be coming in until the next decade. Any questions?

Right now anyone with a sane mind and the ability to do so should hold USD and just keep EUR in a currency account.

Just FYI.

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Dispel

No.

My message was too short, so I'll just add- retard.

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