My run-in with the so-called Patriot Act began with a leaky roof.
I'd been told that "all old houses in France leak," so I wasn't shocked when water began flowing into the house from my lovely roof terrace. It need to be fixed.
About two months ago, I started trying to transfer a few thousand dollars to France for the repairs. I called the currency trading company in London that helped me transfer money to buy my house, Currencies Direct, and was told rather brusquely that they no longer worked with American clients. Apparently, last November, some measure within the Patriot Act took effect that barred the transfer of funds. Or made it impossibly cumbersome and potentially risky for currency traders. At least that's what I was told. To move the money, I'd have to prove I "lived" in France. My bank in Texas also was reluctant to wire the funds -- despite the fact that I needed less than $10,000 and I've been an excellent customer for about a decade.
Ultimately, I figured it out but the experience made it clear that the U.S. Government is seriously tightening the screws on the freedom of its citizens. I found the experience more than just a nuisance, I found it frightening. So I was not surprised when the New York Times ran a story today describing the myriad problems that are so serious they're causing expatriate Americans to renounce their citizenship. The article says expats are taking such a dramatic step based on financial issues, not politics. I'm not so sure. What is clear is that there is a lot of confusion and fear among American expatriates and even those, like me, who live only part of the year abroad. And it is clear that the Treasury Department is ignoring official requests for relief for Americans living abroad. I wonder why?
I'd be very curious to know what other people are experiencing. Are you having trouble with your U.S. bank, with transferring funds? What are you hearing about the experience of others?
5 comments:
I've resorted to taking $300 a day out of my US account with my ATM card and paying through the nose. It's expensive, time wasting and annoying. If I were younger, I'd renounce my citizenship, but at this age, I will probably have to go back because of medicare.
Rette
Since we bank with Bank of America who has a "sister" bank in France - BNP we can go to the ATM and draw out monies with no charge. I would suggest that you change banks if you can. We are watching this situation carefully as we no longer have a residence in the States nor a valid US driver's license.
Fawnette
Brou, Dept. 28, France
Hi Sydney.
I read that article and it only seemed to apply to rich people! The tax treaty between France and the US allows for quite a bit of income before you have to pay in both countries. I wonder how many are changing citizenship for political reasons myself...
I wanted to ask if you'd seen the Francophilia Gazette (www.francophilia.com) and thought I'd tell you that I feature francophile blogs on it in case you're interested. Details here:
http://www.francophilia.com/community/articles.php?articleID=15&action=viewarticle
Best!
Pamela
I'm not American but I've tried various services and find XE.com to be excellent. On the rare occasions I've had a query I've alway been able to speak to them on the phone.
I have no relationship with them - just a very happy customer for five years now
Bob
The article is too good.I really enjoyed reading this article.Thanks for the share.
Post a Comment