just a thought guys....try offshore banking

[docdekay]

My NETeller account is linked to a US bank and I live in Canada, so your statement is not universally true. In fact it's probably completely false.

I just had a live chat with them. Here is what they said:

ryan: Welcome to our live chat service. How may we help you?
ryan: Hello. How may I assist you?
xxxxxxx: Hi, I have a very quick question for you which hopefully you can answer. I was having a discussion with another neteller user and he told me that a neteller customer can link a bank account to their Neteller account even if they do not live in the country where the bank is located. Just out of curiousity, is this true?
ryan: May I have your 12-digit NETELLER Account ID please?
xxxxxxxxxxxx: xxxxxxxxxxxx
xxxxxxxxxxxx: I am not interested in changing anything on my account. I am just curious if this is possible.
ryan: No that is not true. Your bank needs to be in the same country as you.
xxxxxxxxxxx: Thank you for answering my question.
ryan: You're welcome. Thank you for choosing NETELLER!

 

[docdekay]

Perhaps you were grandfathered in before Neteller went public. As of right now, its not possible.

 

[vanzack]

from the tone of that first paragraph, it appears someone is finally changing their tune. i guess you realized your error.

The tone of my post should tell you of someone who doesnt want to argue about a secondary point that I think the informed reader will know who is right and who is wrong.

I am agreeing to disagree for the benefit of the reader (and my sanity).

 

[vanzack]

you and i just have different beliefs of what the IRS can and can't do. for some reason you think the IRS can just call up any bank and the world and say "hey, we're seizing the funds in account XXXXXXXX."

however, i know the reality. without cooperation from the bank in question, the IRS can't do anything.

and banks who have established secrecy laws do NOT cooperate unless the individual in question is breaking a law in THEIR country or is invovled in some sort of international crime (drug trafficking, money laundering, funding terrorism, etc.) ultimately, it is THE BANK that decides whether to cooperate or not.

if you really think the IRS is going to get cooperation from a bank in luxembourg because they show the bank manager some sort of "evidence" that their american customer didn't pay his taxes on gambling winnings you're out of your mind!

but again, the whole point of this thread wasn't to tell people how to evade taxes. it was to tell them how to keep their money out of reach of the IRS and not even give those assholes a chance to screw with you.

---------------------------------------------------------------------------------------

And as they say - BOOM GOES THE DYNAMITE on any credibility you once had.

I will let your above post speak for itself. Anyone who would take the time to open an offshore account should at least get legal advice from a qualified tax attorney or finance attorney other than me or Christian.

Fortunately for me, I already have and have stacks of documents showing that almost every foreign govt supports the IRS and that there have been numerous seizures of foreign bank accounts just for the asking. The idea that you have to break a law in that country is absurd.

The only type of offshore account that is sheltered from any US govt seizure is what is called an "offshore trust with a purpose". For example, in the Caymans they have these types of accounts and the difference is that the trust is set up for the benefit of a purpose and not a person. They are expensive. You should look in to this and get educated. Why would anyone need this if you could just open an offshore account?

Lets just agree to disagree on the whole thing except to suggest that anyone considering this should get good legal advice.

GL<!-- / message -->

 

[Christian]

Lets just agree to disagree on the whole thing except to suggest that anyone considering this should get good legal advice.GL<!-- / message -->

finally, you're making some sense.

 

[Christian]

hey doc, let me try to clear up the confusion on the neteller info...

you guys are both right to an extent.

it is possible to live in another country than where your bank is registered with neteller...however, your bank must be in the SAME country where your neteller accout is registered, regardless of where you are currently living.

i ran into this problem when i was on vacation in italy last year. i tried logging into my neteller account (which is a u.s.-registered neteller account, not italian-registered) but was blocked.

i had to call their CS dept. and they informed me i had to notify them over the phone anytime i was going to log into my account from a country other than my registered country.

it only took a minute and they unfroze my account. but they also explained all about their system.

i've also talked to them recently about my possible move to argentina next fall and what problems i might run into. they've told me that you can LIVE somewhere other then where your bank is, but your bank must be in the same country where your neteller account is registered.

hope this clears that up. but i should add, that if you decide to register your neteller account in another country just to take advantage of a certain bank that is located there, i would research that particular country's deposit options before doing so. each country has different deposit options and some places have limited options. if i remember correctly, i don't think the UK allows instacash options, for example. so there are some disadvantages along with certain advantages. call up neteller CS for more info. they're usually very helpful.

 

[wilheim]

....