American customers have reported having headaches with German banking as a growing number of banks decide to exclude US passport holders from opening an account. “I understand the complexity of the situation, but am still amazed that German legislation does not better protect Americans living in Germany when it comes to such matters. By the looks of things, it all dates back to a piece of American legislation that was passed way back in 2010. “The combination of a heavy-handed FATCA and current German legislation leaves me absolutely vulnerable to what is tantamount to perfectly legal discrimination, based on my nationality. “The exact same thing could happen to my German private bank account at any time.

Source: The Local September 14, 2021 15:45 UTC