Account opening requirements with the full current account


#1

Will U.K. residents with U.S. citizenship under their FACTA obligations, or those from high-risk and non-cooperative jurisdictions (according to the Financial Action Task Force - FATF) be ineligible to apply for the planned Monzo current accounts?


(Nick C) #2

There are no limitation for US citizens to open current accounts with Banking Institutions of their choice for as long as you report the foreign account in your FBAR submission.


#3

I did not say there were any limitations from the US perspective, but with Starling not offering overdrafts to US citizens and Fidor not offering accounts to US citizens it is clear some banks may take the approach of limiting services to US citizens hence my question to Monzo.


(system) #4

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