Earlier quoted context omitted.
Sounds like your opinon on this topic ends up depending on your locale. In America, you can walk up to a bank and open an account with $20 no questions asked. It's been a few years since I rented an apartment, but I only needed an extra month's rent for a security deposit. As far as lawsuits go, that is really more about government regulation. Depending on the what the regulations say, getting sued may or may not be…
As an American it was a shock to me too I asked the bank why I couldn't open an account and the manager said I'd be better served by the post office. The reason I wanted to use HSBC is so that my French and US accounts could be integrated. But because I was working as a bartender I guess I wasn't the type of client they wanted. Here, classism is rampant and if you aren't in the right circles or profession doors are c…
The minimal gain opposed to the guaranteed hassle of dealing with American authorities and rules simply isn't worth it for most foreign banks.