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US Banks are much worse at serving common people than many other old big banks around the world, certainly compared to Germany's banks for example.

And yes it is thanks to a byzantine system of history, regulations and very few Americans travelling abroad to experience radically better systems.

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FATCA makes Americans pariahs at foreign banks. I would love to store cash outside US jurisdiction but it is a compliance nightmare usually only worth it for high net worth clients. We know better systems exist, we just often can't use them even when we live overseas.

Crypto is the last offshore banking for the middle class. It essentially took over right when FATF eliminated banking privacy and bearer shares -- which IMO is no mere coincidence.

Crypto is not banking.

I'm a middle class American that has lived in various places, Canada currently.

I opened my first account in Canada while I was still a US resident. FATCA compliance was a matter of a single extra form, and providing my US SSN. It was about the same for my Caribbean accounts with international banks.

If what you are trying to do is open an account that is not visible to the US government, that is much harder.

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