I know this may seem like a simple one, but why would you want to open an international account (U.S Citizen here) when you could just go ahead and use your own account from the U.S? Is there something I'm missing here or is this for a certain niche of people who are having an issue?
Thanks guys.
One good reason is that banks sometimes close accounts that do wire transfers to Bitcoin exchanges for no other reason than being related to Bitcoin. You can have a free online account from a bank listed in this thread for Bitcoin exchange wires transfers, and also your existing bank account for non-Bitcoin related transactions.
If your free online account gets terminated without explanation for doing wire transfers to Bitcoin exchanges you still have your other account for everyday transactions.
The quote below is from a thread that lists Bitcoin hostile, and friendly banks. I only included the top of the hostile bank list because it's enough to convey how hostile to Bitcoin some banks are. Although that particular list is for banks hostile to Bitcoin businesses, they can be just as hostile to normal customers.
To qualify on the list a bank or payment processor must without explanation terminate or refuse business of legitimate bitcoin busineses. Australia: Commonwealth Bank of Australia CurrencyFair (
Website)
- CurrencyFair denies the application for any business having anythinng to do with bitcoin.
OzForez.com.au - Denids the application of any business having anything to do with bitcoin.
Canada: The Royal Bank of Canada (
Link)
BMO - CanadaBitcoins was accepting cash deposits here, but accounts closed due to AML/KYC Requirements. Link.
- CanadaBitcoins no longer accepting cash deposits at all to BMO, verified or not. Link.
CIBC - CanadaBitcoins was accepting cash deposits here, but accounts closed due to AML/KYC Requirements. Link.[url=http://
Royal Bank of Canada