"Why do you want to open a bank account with us?" -- good reason for them?

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JamesDonkey

Active Member
What would be a good reason or reasons, perhaps semi-truthful and somewhat vague, to give to a bank when they're asking me about why I want to open an offshore personal bank account with them? A reason which wouldn't be a pure lie, but at the same time not a complete truth, and is flexible and universal.

I've been able to open some bank accounts, but each time I'll get stuck whether I get asked that question and have to pull an answer from my a*s :)
 

CaptK

Nominee Company Bank Account Real Estate Passport
BANNED MEMBER
You are impressed by the credibility of the bank and want to open an account and eventually look into bank products for wealth preservation.
Due to the current economic climate you think it’s best to diversify into different jurisdictions and through your research this bank fits your criteria.
 

JamesDonkey

Active Member
You are impressed by the credibility of the bank and want to open an account and eventually look into bank products for wealth preservation.
Due to the current economic climate you think it’s best to diversify into different jurisdictions and through your research this bank fits your criteria.
Could be. But then that'll imply that I'm weathy and they may start to treat me as such. Not?
But I'm not, or not yet. Therefore, I'd want a more neutral reason.
 

avalanche

Entrepreneur
Could be. But then that'll imply that I'm weathy and they may start to treat me as such. Not?
But I'm not, or not yet. Therefore, I'd want a more neutral reason.
Ask them before they ask you "I was looking for a bank account, been passing by and decided to visit your bank. Can you tell me whats your flagship product? I'd like to know about it". You get them to talk about their benefits and advantages, then you throw it back to them.

You can try treating them like merchants, ask them to sell themselves to you
 
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JohnnyDoe

Schrödinger's guy
Mentor Group Gold
Ask them before they ask you "I was looking for a bank account, been passing by and decided to visit your bank. Can you tell me whats your flagship product? I'd like to know about it". You get them to talk about their benefits and advantages, then you throw it back to them.

You can try treating them like merchants, ask them to sell themselves to you
I tried this approach once. The bank officer was pissed off. He started a litany about the bank being “not for everyone”, said that “a bank account is a privilege, not a right” etc.
Bank employees don’t care about clients. They receive their salary regardless of anything, so they see a new client more as an annoyance than as a business opportunity.
 

avalanche

Entrepreneur
I tried this approach once. The bank officer was pissed off. He started a litany about the bank being “not for everyone”, said that “a bank account is a privilege, not a right” etc.
Bank employees don’t care about clients. They receive their salary regardless of anything, so they see a new client more as an annoyance than as a business opportunity.
Biggest factor here is how you say it and not what you say. You need to build rapport first. Otherwise you are irritating bank employee by positioning him lower than you. So they go defensive on you
 

JamesDonkey

Active Member
Biggest factor here is how you say it and not what you say. You need to build rapport first. Otherwise you are irritating bank employee by positioning him lower than you. So they go defensive on you
Nonetheless, an employee would still have to provide **some** reason, when filling in an application, for opening an account for you. What would it he provide? "Because the client wants to explore our products and see how it goes?" Is that a reason that he'll provide? I think not, there'll need to be a more legit one.
 

avalanche

Entrepreneur
Nonetheless, an employee would still have to provide **some** reason, when filling in an application, for opening an account for you. What would it he provide? "Because the client wants to explore our products and see how it goes?" Is that a reason that he'll provide? I think not, there'll need to be a more legit one.
Savings, Expenses, Collecting/paying Rent
 

JohnnyDoe

Schrödinger's guy
Mentor Group Gold
Savings, Expenses, Collecting/paying Rent
What kind of savings? How do you plan to invest your money?
What are your expenses?
Provide evidence of tax compliance.
Provide evidence of real estate ownership. How did you generate the money for buying real estate? Why do you rent? Provide the rental agreement.
What if we Google your name? Why is your name in Google? What did you do? Why it is not? What are you hiding?
Etc..
Be prepared to be tortured starting from day one.
 

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