| Posted by: Jack Daniels at April 5, 2007, 11:07 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Quote: Originally Posted by wsorbust
Concerns maybe, but wouldn't you be opening the offshore account to basically attempt a string of several illegal acts? Playing online poker in the U.S., not paying taxes on your winnings....etc?
Doing these things and opening an offshore bank account are mutually exclusive events. I would enture to guess that no more than a ery few US players on this site maintain an offshore private bank account. Yet they all seem to be playing poker and some of them winning. I'm sure everyone is also reporting all of their poker winnings on their tax returns already, so is the implication that they would then stop reporting this poker income if they had an offshore account? Oh, wait, they're probably not reporting it now either.
Quote: Originally Posted by wsorbust
I consider O.J. and Blake innocent of course.
Well, they were acquitted after all, so they must be innocent right?
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| Posted by: wsorbust at April 5, 2007, 11:42 am | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Concerns maybe, but wouldn't you be opening the offshore account to basically attempt a string of several illegal acts? Playing online poker in the U.S., not paying taxes on your winnings....etc? But, I guess Robert Blake and O.J. had their concerns also, it's just how far you want to go to do something you probably shouldn't be and hope you can get away with it. I'm not saying you shouldn't, the government is. That was all hypothetical and I consider O.J. and Blake innocent of course. I wouldn't try the offshore plan personally, even if I was sure it wasn't a scam. If you've got enough money to attempt it, you'd probably be better off just going down to a real casino and taking on The Coproration, right? Who knows.
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| Posted by: Jack Daniels at April 5, 2007, 4:14 am | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Quote: Originally Posted by wsorbust
Sorry JD, but used professor google to see why an offshore account is possibly a ery bad idea. From askmen.com:
"Legal issues
If you’re a U.S. citizen, it’s not illegal per se to open an offshore account. If the underlying reason, however, for setting up the account is an illegal act, you might be keeping your money safe, but you could still be in hot water. For example, if you’re accused of tax evasion and you’ve sent the funds abroad, you could still face criminal charges here. The offshore bank account, however, may remain free from the long arm of the law.
Risk
When you bank in the U.S., you can be secure in the knowledge that your money is insured by the government. No such guarantees exist with offshore banks. In other words, a country could have a coup or a natural disaster or an accounting scandal one day and all the money could be gone the next. Furthermore, you could find yourself ... | | Read Entire Entry |
| Posted by: Riedel at April 4, 2007, 4:35 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
I'd think this is fairly simple. PP cashout -> Dutch bank, Dutch bank -> Paypal NL, Paypal NL -> Paypal US? -> Paypal US -> Your US bank account. Maybe too complex? Ofcourse, you could also just wire it from the NL account to the US...
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| Posted by: Riedel at April 4, 2007, 3:57 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Actually, if you'd open a bank account with one of the bigger banks in the Netherlands (Postbank, ABN AMRO, ING), and would play on PartyPoker you could make use of 'iDeal'. This allows you to deposit directly from your bank account in EUR. (No conversion fee). Withdrawing from partypoker to the bank account takes 3-5 days.
PartyPoker actually implemented iDeal due to me suggesting it to them. I feel bad for the pokerholic Dutchies. :P
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| Posted by: PokerPete at April 4, 2007, 3:51 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Sorry dax...just couldn't resist
yes, there usually are fees...and yes, it takes a $1.336 to buy one Euro or .748 Euros to buy a $1 without the fees (a one Euro buys $1.336).
Depending on the day you convert and the day you convert back, it can cost you more than the fees or less
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| Posted by: dakota-xx at April 4, 2007, 2:53 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Quote: Originally Posted by PokerPete
Hmmmmmm.....converting dollars to Euro...depositing Euros and converting back to dollars......
Isn't that like converting from fahrenheit to Celsius and back to fahrenheit?? It's still the same temperature as long as no one skims a degree or two as a conversion fee.
There are fees involved in both conversions. And you are assuming you will win and cash out lol. I could never make that assumption.
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| Posted by: PokerPete at April 4, 2007, 2:36 pm | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Quote: Originally Posted by dakota-xx
The exchange rate would eat your money up. The dollar is not worth crap over there.
Hmmmmmm.....converting dollars to Euro...depositing Euros and converting back to dollars......
Isn't that like converting from fahrenheit to Celsius and back to fahrenheit?? It's still the same temperature as long as no one skims a degree or two as a conversion fee.
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| Posted by: wsorbust at April 4, 2007, 2:01 am | | Topic: Has anyone from the US tried a European bank account? Forum: Card Chat |
Sorry JD, but used professor google to see why an offshore account is possibly a ery bad idea. From askmen.com:
"Legal issues
If you’re a U.S. citizen, it’s not illegal per se to open an offshore account. If the underlying reason, however, for setting up the account is an illegal act, you might be keeping your money safe, but you could still be in hot water. For example, if you’re accused of tax evasion and you’ve sent the funds abroad, you could still face criminal charges here. The offshore bank account, however, may remain free from the long arm of the law.
Risk
When you bank in the U.S., you can be secure in the knowledge that your money is insured by the government. No such guarantees exist with offshore banks. In other words, a country could have a coup or a natural disaster or an accounting scandal one day and all the money could be gone the next. Furthermore, you could find yourself scammed; it does happen. Remember, this is a business... | | Read Entire Entry |
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