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Anonymous
Interest rate in other countries 2016-07-16 10:03:36 Post No. 1384944
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Interest rate in other countries 2016-07-16 10:03:36 Post No. 1384944
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Possible to open a bank account in another country and profit from their insane interest rates or do you need to be citizen? most interest I can get in deposit saver is 3.2% in my country but countries like Iran do like 15% for year deposit saver.
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>>1384944
That all depends on the country. I'm an American and have an account in the country Georgia, where you can get up to 18% APY on long term USD deposits and about 10% APY on standard savings accounts. The only thing I needed to open an account at a bank there was my passport.
However there is risk in doing this as most foreign banks don't have anything like the FDIC (insurance on bank deposits issued by the American government), so if the bank goes under or just decides to not give your money back, you're shit out of luck.
And there's a reason they offer such high interest rates on US dollars -- it's very hard for them to get American money in these countries. I'll leave it to you to figure out why it's difficult for the banks to get American money and why they have to pay such high interest rates.
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>>1384944
yeah sure, go ahead and put your money in a bank in Ghana, secure as fuck with strong gains
>deposited $200K in Zenith Bank in Accra
>literally living off the interest
>made $50K last year
>fly to Ghana and meet with branch manager in Accra
>he's a crocodile
>ok.............
>he invites me on a trip in the countryside
>we spend 5 days at a local resort clubbing
>he seems tight
>on the 4th day i start to notice a foul smell coming from his room
>he invites me in after a few drinks that night at a local pub
>he's piss drunk
>i notice a piece of a shirt hanging from his mouth
>see inside his closet
>his closet is filled with children wearing mickey mouse hats
>panic internally
>pound a couple shots with him as he screams "FUCK YOU ORLANDO"
>i leave
>immediately book a flight home from my hotel room
>may the hotel manager $8 dollars for my bar tab/room for 5 days
>"sir we are having discounted bookings for next week in honor of my 8th birthday, are you interested?"
>no
>fly home
>violently stroke to crocodile gore videos
Look man, don't do it, it's too risky
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>>1384967
could have been worse and lose your money
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