OPENING BANK ACCOUNTS IN ANY EU COUNTRY

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OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by Gala Placidia on Wed Apr 16, 2014 10:33 pm

We have heard in thebpast about problems experienced by other EU citizens when trying to open a bank accountnin a country where they were not permanent residents. It looks right now as if the EU Commission has finally sorted out this problem, which is good news New EU Banking Directives
It should have happened before, but, at least, they have done it...
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Re: OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by stevegwmonkseaton on Thu Apr 17, 2014 7:53 am

Thanks Gala. I believe the EU does  work, but being several countries takes a lot longer to implement changes. This proposal was put forward in May last year, so the adoption is actually quite quick. Still not seen anything on the implementation date...

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Re: OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by Gala Placidia on Thu Apr 17, 2014 10:45 am

It was on the Spanish news a couple of days ago and they said that it was implemented... but I think that each country may not do it at the same time. There is also another matter, which has not been raised, and this is that all banks from all EU countries will be linked to the different taxation offices and will be able to report what everyone has and where. Many countries have been asking citizens to declare any foreign accounts...
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Re: OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by stevegwmonkseaton on Thu Apr 17, 2014 11:57 am

I think you will find adoption is far from implementation (possibly a few years off).

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Re: OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by Gala Placidia on Thu Apr 17, 2014 12:15 pm

You are right... everything seems to move very slowly. We are in 2014! All this should have been implemented years ago!
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Re: OPENING BANK ACCOUNTS IN ANY EU COUNTRY

Post by stevegwmonkseaton on Thu Apr 17, 2014 2:47 pm

Like I indicated, they did start this process a few years back (actually long before May13 I mention), but the EU is a big place with a lot of countries and I do think they are getting there, albeit at some cost!

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