From a Reuters article on the subject.

Reader comment on: Legitimate Reasons To Have a Swiss Bank Account

Submitted by Lyle (United States), May 9, 2012 15:35

It is really brokerage and securities accounts they are after not checking and savings, since the amounts involved here are small. I suspect that when all is said and done transaction accounts under some sum will be exempt from FATCA, which catches most of the reasons in the post, and day to day business. Of course it's the investments and securities where the real tax revenue may lie.

Anyway if you are in Europe you can do business with a branch of Citi, BofA or JPMorgan as they are in the major financial centers.


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