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Today I will tell you one banking secret, that Richard Branson mentioned in one of his books.
So, many people often ask me which bank is the best in this or that country. And this is a valid question, since most of us want to do banking hassle free and want do deal with best possible banks.
The reality is that there are no good banks, only good relationships.
This is the advice that Richard Branson gave years ago, pointing out the importance of maintaining a good relationship with your banker.
This has a massive payoff, especially in the world where banking is getting harder by the month.
Numerous times we managed to get bank accounts opened, and maintained because of the good relationship we have with the bank. Without those relationships this would be difficult, and sometimes even impossible.
It’s important that your banker understands your business and your sources of income. This way they’re way more likely to open bank accounts for you, than if they had no clue about what are you doing.
On top of this, bank is more likely to want to work with you if you already have a relationship with them: history with the bank, volume of business, purchase or subscription of their financial products, etc.
If you follow this advice, you’ll be less likely to have issues with your bank.
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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