Opening a foreign Bank Account to be paid?

[Online18Casino]

I would like a little feedback from members, as I have been looking up a few things on google but can't find anything case specific.

I am from the USA, and it seems programs are having a harder time playing affiliates who are in the USA. To avoid another Huge setback like the QuickTender one last month, would it be wise to open a bank account in canada to be paid into?

If I didn't gamble at all, I only made revenue from advertising, as it would all be legal, could it be seen as money laundering?

I know you have to report the account to the IRS if it holds more then 10k at anytime in the year.. So I would most likely transfer the funds to my US bank monthly.

And if 'advertising online casinos' to USA players is found to be 'illegal', what if I only marketed to UK players...?

 

[Rhondagrace]

I would like a little feedback from members, as I have been looking up a few things on google but can't find anything case specific.

If I didn't gamble at all, I only made revenue from advertising, as it would all be legal, could it be seen as money laundering?

And if 'advertising online casinos' to USA players is found to be 'illegal', what if I only marketed to UK players...?

Hi,

I don't think you can open an international account unless you live in that country. I tried to register an .EU domain and was told I needed to register with the European union. anyway, it's NOT illegal for US Residents to sell casino advertising. look casinocity.com there main office is in Newton Massachusetts.

 

[Online18Casino]

Well as far as I have read, you can pretty much open up a bank account in any country with two forms of ID. You just have to be present at the bank as it is harder to open one up online or by mail (due to anti terrorist laws). You don't have to be a citizen or have ties to the country. It is perfectly legal, you just must report it to the IRS if at anytime in the year the account holds more then 10k. However... if it is used to launder money... then its not legal lol..

I know that its NOT illegal to sell advertising... But who knows how the US gov't can twist things now... One thing this industry has done, is really open my eyes to how corrupt the US gov't really is now, and I no longer trust them at all.

I also tryed to get a .eu a while ago... had to go with a .co.uk...

 

[Aussie-Dave]

Try looking at opening an account with a bank not only has US banks but branches in other Countries. I would think taking this approach would solve the issues you explained above.

HSBC

Ing Direct

Both of these have facilities outside the US. Don't ask me about legalities or anything like that, I'm neither an attorney nor a US citizen. Although casinocity.com took on the DoJ and won, I would seek professional advice before setting anything like this up.


Cheers



Dave

 

[Aussie-Dave]

it's NOT illegal for US Residents to sell casino advertising.

Media buys (selling ad space - outright adverting) is imo a totally different kettle of fish to what most affiliates do, which is rev share. EG sharing of profits.

I don't see the DoJ taking action against affiliates because frankly it's too much money to invest into not much return. But on the same token, if I was a US affiliate or I actively promoted to US citizens, I'd be making sure my ducks are in a row including my i's dotted and t's crossed, making sure I can't get prosecuted.

From my understanding, casinocity took on the DoJ on a first amendment right issue. I also believe it centred around selling ad space (advertising) and not a rev share model.


Cheers



Dave

 

[AE-Martyn]

Hi all, affiliates in the US are advised to open up an off shore bank account as this would drastically reduce any risks such as the the recent QT issue and eWalletXpress one.

It can be possible without visiting the branch personally (I think) and it may be a good idea to speak with RBS (Royal Bank of Scotland). I know of an affiliate that recently opened up an account there and they seemed to have little issue once they got hold of the right people.

Obviously this bank may not be right for you, but it could be a good start.

It may take a while to do and you may have to complete a few forms but in the long run, it will be a lot better for you.

 

[bonustreak]

I think Wells Fargo has foreign bank account options as well cannot say for sure.

 

[lots0]

If you are an American any reputable European bank will require you to show up in person.

Most European banks will not open an account for an American, because of the draconian American laws that require the European banks to report EVERYTHING to the US government.

However, if you are willing to renounce your american citizenship, most European banks are more than happy to open an account for you.
Of course, if you renounce, you can't live in the US anymore...

 

[Online18Casino]

This has been very informative. As far as I have heard (as AE-Martyn said Scotland) you CAN open an account by mail.. but it is not really easy to do. However I an taking a trip up near Canada in the near future, as I should be able to open an account there. I have heard of overseas banks with US branches having some problems because they follow some of the same laws (rules for them) as the US banks, so it may be better to open one with a non US branch bank.

If I did open a bank account in Canada, would affiliate programs have any problems paying into it? I know very little about Canada banking laws or how payment processors work. Or would taking the effort to try to open one at something like Royal Bank of Scotland, be more worth the effort?

Thanks again guys.

 

[Aussie-Dave]

Of course, if you renounce, you can't live in the US anymore...

thanks for the laugh mate, I needed it!


Cheers



Dave

 

[lots0]

Renouncing American citizenship is a big deal that more and more Americans are doing everyday.
To renounce you have to appear (make an appointment) with the US Consulate outside America... Depending on what country your in, it can take 16 to 36 months to get an appointment to renounce your citizenship. The lines are very very long...

Renunciation of U.S. Citizenship

thanks for the laugh mate, I needed it!


Cheers



Dave