Thanks to the steady barrage of US government regulation ranging from the obtusely insipid Dodd-Frank financial reform to the impossible-to-implement Foreign Account Tax Compliance Act (FATCA), banks everywhere have to make this decision.
In short, Congress has arrogantly passed legislation to control foreign banks on foreign soil. FATCA, for example, requires that every single bank on the planet enter into an information-sharing agreement with the IRS.
Banks that don’t comply will face severe penalties, including being subject to a steep withholding tax on funds sourced through the US.
While I’m not able to list (for the most part) individual banks, the following jurisdictions have multiple banks that are still happy to work with US customers. I should know, I have an account in most of these places:
6) The Bahamas. With the local economy already so closely tied to the United States, most banks in the Bahamas have made the decision to stay in bed with Uncle Sam rather than rock the boat.
