I am a resident of an EU country and married to an EU citizen. I have heard in the past about discrimination against Americans and I have already had a checking account in another European country closed because I am an American. However, I assumed that I could at least get normal financial services in my country of residence.
Today, however, I found out otherwise. I went to open a basic checking account at Swedbank, which is a major bank in Scandinavia and Eastern Europe. Once I had finished opening the checking account, I asked the clerk to open an investment account. The immediate response was NO! I asked why and he said that because I am a US citizen, the bank will not open any investment accounts for me.
The problem is that American citizens are toxic for banks outside of the US. If Swedbank accepts me as a client, they have to satisfy the laws in TWO countries (the US and my country of residence). That is clearly too much of a burden for a bank, especially for a small client.
I just have to say thanks to the US Congress for this ridiculous situation. :-(
