FBAR Penalty in Canada! - View Single Post
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Old 10th January 2012, 01:55 PM
jimmyjam jimmyjam is offline
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Users Flag! Originally from usa. Users Flag! Expat in uk.
Default reasons to change banks

Quote:
Originally Posted by PetrosResearch View Post
But the thing is that the only reason it is necessary to move your accounts is to avoid FBAR. If you are planning to fill out the FBAR, then there is no point in moving anything. .
That is not true.

There can be hundreds of legitimate reasons to move your account.

(1) you have heard rumors your bank is in financial difficulties

(2) you have received poor customer service and want to change banks

(3) your bank is too expensive you are moving to a cheaper solution

(4) you asked for a loan but your bank did not give it to you while another bank did

etc
etc
etc