Banks lock out Americans over new tax law

Jimmy Sexton, an American, was forced to close his checking account at Volksbank in Austria earlier this year.

Americans, take your money elsewhere!
That’s what banks around the world have been telling their U.S. customers, as they try to avoid having to comply with a new tax law due to come into force next year.

Jimmy Sexton, an American, was forced to close his checking account at Volksbank in Austria earlier this year. And Genevieve Besser, an American living in Germany, was given two months notice last year to close her securities account at ING-Diba, the German arm of Dutch bank ING (INGVF).

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