Your Bank Account is at Risk

[@readypetequalmers7360]

When talking about bank freezes and listed "money laundering" as a reason for a freeze... didn't mention "politically inconvenient" like we saw in Canada.

[@josh3771]

That single action ruined the credibility of the banking system’s

[@egjohnson7939]

They will search your social media, determine that you subscribe to "wrongthink" and then they'll cut you off.

[@readypetequalmers7360]

@@josh3771 Sure did! The US did some other things like when they were trying or maybe even did confiscate Russian assets they had access to. (there was at least articles talking about it.) By these countries taking the authoritarian route "we want it we take it" has shown many they can't be trusted.

[@texasrodeogirl3814]

@@josh3771So true! By doing this in an emotional panic move, they signaled to the world what is coming for all of us.

[@MVProfits]

@@josh3771 it really did. It opened up a lot of eyes, worldwide.

[@bigjay875]

US bank closed my account after I started buying gold, they refused to inform me why. I had a quarter million dollars in my savings account so don't do business with US bank! You have been informed!!!

[@wealthintruth6227]

The same Bank refused to disburse 75k of money from a real estate sale. The bank manager told me a clerk had forgotten to order the cash and there would be another week of waiting. .... And the proceeds would not be disbursed unless I hired a security service to come with me. Santa Barbara county branch is insane!

[@bigjay875]

@@wealthintruth6227 Sue if possible. Discussing and what a joke of a business!

[@headlibrarian1996]

It’s interesting how banks that want to get rid of you ASAP almost always put roadblocks in your way to actually do it rather than facilitate your quick exit. This cannot be an accident, it is punishment by process.

[@tonymalerba1067]

I'm not wealthy but your channel benefits me regardless. Eternally grateful sir.

[@robthewaywardwoodworker9956]

Totally agree. Andrew's book is very informative too. I would love to know who he would recommend for advice like he offers, but for the little guy like me.

[@nomadcapitalist]

Thank you! We recommend attending Nomad Capitalist Live, where "little guys like you" can learn the same thing everyone else does: nomadcapitalist.com/live/

[@indigojones941]

@@nomadcapitalist Thanks Andrew! We all need help.

[@michaelkaufman9625]

like many of us here, I watch and take notes and try to incoporate his valuble lessons as a non-8 & 9 figure wage earner. Thank you Andrew always.!

[@teru797]

@@nomadcapitalist Feel like bitcoin is gonna be more popular because of these reasons.

[@r.hagenau3541]

Bankers, lawyers, politicians, mobile phone companies, used car dealers - all the same sort of scammers.

[@geekyprojects1353]

“Ask not what your country can do for you - ask if your country can refrain from it”

[@InvestBetter.]

Just because you have multiple accounts doesn't mean you are protected from frozen assets When you give a bank money, its their money, not yours anymore. They don't have to allow you to transfer it to another bank. They don't have to give you notice before shutting you down. If they are collapsing, you may never know your funds are in trouble until its too late. This is great, if you have hundreds of thousands of dollars, in multiple banks, in multiple countries, but not for the average person.

[@StevenZagaris]

This channel is called, "Nomad Capitalist". At no point has Andrew ever been giving advice to the "average person".

[@EframToliver]

@Steven. I agree but most any time one disagrees with Andrew, those trickle downers at the bottom of the totem pole are quick to retaliate. BTW, who are you? Andrew is a big boy, let defend himself.

[@albertoswald8461]

Perhaps for a less wealthy person it might be best to hide cash instead. Kind of like our grandparents kept cash in their mattresses after being bit during the Depression.

[@StevenZagaris]

This advice is for 7 and 8 figure investors. He says it in every single intro of his videos.@@albertoswald8461

[@mobileandroid5299]

Unless you have a nervous breakdown on the way to the shooting range and you take a shortcut to the bank! Once the bank knows this, they'll give you your money! 😈

[@GastonMaqueda]

I learned this leason a long time ago. I born and live until 2002 in Argentina. I was there during the "corralito" when the government and banks reach an agreenment and froze the bank of the citizens, steal the money and running out. And not was only the local banks, many of the most popular banks of the world was part of that They literally run away with the people saving. Since then I don't trust banks If people start to losing the trust in banks is an invitation for a parallel black market.. In the long term cause damade to the government

[@TheSimArchitect]

Your comment reminds me of "Plano Collor".

[@GastonMaqueda]

@@TheSimArchitect Another distaster but in Brazil Google Argentina Corralito 2001 Or take a look the protest in youtube Was terrible

[@darioinfini]

"In the long term cause damade to the government" GOOD! F the G.

[@ib9511]

Andrew, your videos are both timely and helpful. Canadian Credit Union, just like the major banks, have adopted the custom of cutting off access to ATMs, usually on weekends. They also interrogate the customers on how the money will be spend.

[@CandaceSellsLA]

What?!

[@texasrodeogirl3814]

I retired from being 1/2 owner of a pretty big trailer dealership and continued to buy and sell a few trailers using money from my savings account. I would regularly withdraw thousands in cash to buy a trailer from an individual. My small bank ALWAYS asked if I was going “shopping”. I started telling them I was headed to Vegas to gamble. What I do is none of their business.

[@MVProfits]

@@texasrodeogirl3814 nice answer to their invasive question ha ha. I like it

[@TheSimArchitect]

Banks should serve us, not the other way around. What we'll do with our resources or even how we obtained them should be our business (and maybe the governments'), not theirs. It should also be our problem if we have legal cases against us, debt or anything else. Money should only be frozen by court order and banks shouldn't be able to close accounts just because they don't want a customer, anymore. The type of business you run should also not be their problem, if you're legally constituted you should be able to open an account no matter what you do. If wealthy individuals like @nomad face those issues, imagine the rest of us? It's always best to spread your wealth around as much as possible, for sure. That protects us against starvation but it doesn't mean we'll still risk losing a good chunk if something goes wrong. Sometimes that entire chunk is barely enough to pay for legal services you might need to recover it, when you're "poor".

[@fillmorehillmore8239]

My father complained that the bank asked him about his withdrawal. They said there are a lot of seniors getting scammed (I agree) and that they are asking just incase. Im glad they are doing this for my mother in-law is gullible with being diagnosed with dementia and we asked that the bank notify us if she is making a decent withdrawal or other large transactions.

[@nicolasbenson009]

First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?

[@mithrandir491]

Not just US but nearly every country is doing it these days, quite common in Asia as well. If you have over a million just convert them into other assets such as investments.

[@demri123]

Au. Ag

[@unveedcommunity]

Already done.. The Canadian Trucker protest opened our eyes..

[@robinsattahip2376]

FACTA has made overseas banking a real problem for Americans. I lost both my personal Thailand bank account and the account I had through my Thai employer simultaneously since neither wanted Americans. My employer had to pay me in cash after that instead of by debit card. My American credit union has been great. This is not abstract, this a real problem for expat Americans. Thanks Obama.

[@NaturallyHarrison]

Which credit union do you bank with in the US?

[@jacqdanieles]

Funny that Trump was slashing regulations left & right but never removed this one.

[@boozebutta94]

Fatca did the same thing to me in Mexico I work for a Mexican company get paid direct deposit in pesos and pay taxes in Mexico and Fatca managed to shut down my account. I don’t even owe any money in the U.S. nor do I own a single thing there. Now I’m afraid to do anything that involves the U.S. and I’m American, lol.

[@milancollin1819]

Totally true! We have bank accounts in the countries were we own real estate and further I try to stay away from banks. In the past they were willing to help but noways it is more working against and defending and keeping their risk low as possible in their benefit. Like you mentioned they can believe something is suspicious and they block your money.

[@sharonbraselton4302]

wrubv

[@milancollin1819]

@@sharonbraselton4302 sbrmw

[@jonathanhirschbaum6754]

Kayne case just proves he was right all along

[@phmiii]

Excellent Advice!

[@nomadcapitalist]

Glad you think so!

[@lukebrisbane5380]

In Australia we have had people who provide competitive services to the banks relating to cash, de-banked, as banks seem to be forcing the move to a cashless society. Blatant anti-competitive tactics and should be/ probably illegal. Very scary stuff !

[@DJBillionator]

My second bank account is Gold. Keeps getting bigger by the day.

[@SkipKiplinger]

Become your own bank, or use a private bank you trust. Commercial banks are crime syndicates.

[@leonab545]

What are the expenses of owning a trust? And doesn’t the money still have to be in some bank?

[@idwtgymn]

I can't speak to how bad HSBC is, but Capital One must give it a run for its money. They closed my credit card and refused to even give me a hint as to why.

[@theinflationsituation8870]

Andrew's (very subtle)Trump impersonation @ 4:18. "We're sure it's a great business. One of the best!"😂

[@Gumardee_coins_and_banknotes]

Macquarie Bank in Australia is going Cashless, people are not happy, now pay those fees.

[@erikjanse3994]

Thanks for the splendid VDO, Andrew. Would be nice if you could do a VDO about the potential new wealth and income tax rules for foreigners in Thailand ...

[@conlawmeateater8792]

Very valuable good video. Actually watched the video twice and saved it to ky playlist.

[@nomadcapitalist]

Wow, glad to hear that!

[@mstoniyolanda]

So what's the solution? Any recommendations for where to put our funds??

[@IroncladTruth]

When Canadian banks froze Canadians' bank accounts, I moved most of my money to a red state but I am open for a second backup plan.

[@StevenZagaris]

Thanks for not turning this topic into an ad for crypto. Integrity.

[@YSapphireGroup]

Always great content - thanks so much Andrew!

[@nomadcapitalist]

Much appreciated!

[@Steve8105]

Andrew what are your thoughts on mexican banks and opening an account there being that I have temp residency

[@nomadcapitalist]

Interesting topic! Keep an eye on our R&D channel: www.youtube.com/@NomadCapitalistRD/featured

[@nicolelouis8968]

@PatRisberg What is Fintech?

[@jud2820]

Your book just arrived, looking forward to digging into it

[@nomadcapitalist]

Share your thoughts after, we would love to see your feedback. Enjoy!

[@mattanderson6672]

Thanks Andrew!

[@yoannybatista4202]

It should be illegal for any bank or financial institution to limit your ability to access your interest on your deposits (your money is no longer your money once deposited in a bank; it is a loan to the bank and you are now a creditor) and it should not be permitted for any government to keep anyone from access as well unless convicted of a crime not just suspected. Otherwise innocent will pay alongside the guilty.

[@CandaceSellsLA]

Great advice and guidance, Andrew. Just like the old adage…Don’t put all your eggs in one basket.

[@sharonbraselton4302]

thàtß wht chéf gid say

[@raycatlin3554]

Especially Ostrich - eggs !

[@robthewaywardwoodworker9956]

That is messed up and a little bit terrifying.

[@WarrenGaum]

I now have two bank accounts with different banks and two crypto wallets. Learnt the hard way. 6 year's ago the bank i was with turned on me. Call my home loan credit card and overdraft. Said i had three months to settle everything or they start court. My accounts where all ut to date. I even had cash in the bank. I settled my card and overdraft. Move my home loan to anoth bank. And closed my account. I have never taken anoth loan. Not even for a car. I dont trust the banks anymore.

[@justendtime7248]

Very needed info.

[@nomadcapitalist]

Glad you think so!

[@agrxdrowflow958]

New Basel III rules require 20-30% reserves. Banks are suddenly DESPERATE to hold your cash. The exits are closed.

[@oldscratch3535]

Its nowhere near that high.

[@JohnS-il1dr]

​@@oldscratch353510% but its enough to make banks more edgy about large money withdrawals than they used to be.

[@tonynes3577]

Scary. Even though I'm not a businessman but only an employee with a tax deferred account in the US, I couldn't access my account the other day, in the US. Scary! And it's difficult to get a real person on the phone.

[@raycatlin3554]

Yes Tony , Why the - wall ?

[@rileystein6195]

I actually had a good relationship with hsbc until they left the u.s. market. My funds are now with some tiny bank hsbc sold their east coast banks to, so I've been looking into other u.s. accounts while i wait to leave the u.s. 🤔

[@pauljohn6017]

great content, every time. Thank you.

[@nomadcapitalist]

Our pleasure!

[@wurst719]

Thank You!

[@joerock1736]

Great sound advice, have at least 2 bank accounts with different banks. We agree with this 110%.👍

[@earthinspiredart7773]

Great advice! ❤

[@nomadcapitalist]

Thank you!

[@lifestream1111]

Excellent Excellent Excellent Love it

[@Sammi_Kristiansen]

I have empathy on Andrew's Cap1 accounts. Cap1 decreased a lot of people's credit card's credit limit in between 2020-2022. Probably because of Covid and they became more conservative....

[@quinntheeskimooutdoors6234]

😮😊Thanks for sharing this 😊

[@nomadcapitalist]

Thanks for watching!

[@redsunsmr284]

Crypto and self-custody!!!

[@waywardgeologist2520]

Do you have any opinion about Javier Milei?

[@juliesimoneau6996]

Fact: Your monnaie in bank is not your monnaie legally.

[@friedrichdergroe9664]

So true. So very true. I've been though this with German banks.

[@pepsime6895]

In short, banking in multiple jurisdictions doesn't guarantee that you won't be unbanked but it does give you an alternative source of funds to sustain yourself until you (hopefully) get your money back. It's a s *i t t y world we live in.

[@eddiemalvin]

This never really concerned us until we deposited a six-figure certified check and were told the funds would be available next day. Instead, the bank froze the funds for 10 days with no clear explanation. We aren't foreign nationals and the check wasn't drawn against a bank in a restricted country. Shady.

[@JeshiSama]

Well, on one side of the coin it’s a negative for those that do too many risky business during this time, but on the other side of the coin it protects people from those that wish to undermine the banking system.

[@DavidWDeWitt]

Personally. I Believe. IF YOUR KEEPING ANY LARGE AMOUNT of Money. Or at this Point any Money in Western World. then Ya Take Your chances.

[@SamKaiserLittle]

We don't want people who keep exuding bad influence by inciting people to go where they're treated best. Nope, no sirree. 😂

[@scottweier4285]

It is getting to the point where you just don't want money in banks, period. We don't keep much in banks, have real estate and collect rents, keep silver and gold. And some cash on hand. Bit very little bank accounts.

[@cxa011500]

Everything is a risk.

[@ayoo3455]

Imagine when cbdc's are implemented!

[@nomadcapitalist]

You’ll need this video: kzbin.info/www/bejne/q5SUmaaKpd6sic0si=v6RYUhTWnRZKob87

[@Pat_Shawntrick]

How about a similar discussion like this for brokerage accounts.

[@hjackson.92]

Nothing is safe now. Is there an alternative to banks, particular for someone in the U.S. who's preparing to become an expat?

[@atmosphereoasis9564]

If I had money. I would have left the country but then you have to worry about exit tax and you still have to explain the us why you are leaving or you will have that renounce denied and you could be considered inadmissible to return back which would make it difficult to see your family

[@alchobum]

You can buy crypto where you are and then cash it out when you get to where you are going. It can change value by over 10% in a day, so it is not advisable to hold much.

[@pamelawinfield9211]

Australia is screwed too

[@ayala2968]

So how can you do this if you do not have a lot of money and trying to get second citizenship?

[@dabprod]

I've been through it twice, in the last two years.

[@phatpanda3805]

Personally ive gone all cash, gold crypto, ive hardly got anything in my bank, ive seen bank atms disappear everywhere in Melbourne, my own bank has shut down many branches aswell, ive always had issues trying to pull out my own money

[@gerhard-jx4rn]

Nomad which banks are good??????

[@taylortrzeciak7572]

UAE, then. I’m guessing.

[@ashleymcclung8495]

Did capital one just steal the money??? Closed account, then what? How do you get the money? Or is it just stolen?

[@gjs2900]

People should be looking for alternative institutions to banks, to keep their money in, and whatever anyone does just KEEP AWAY FROM AUSTRALIAN BANKS.

[@raycatlin3554]

Ha ha , They've already looted the citizens of their right to bear ' arms ' ! ! . . Why would they be in such a state of trepidation ? Remember krazy Uncle Adolf . . . 🤔 What was that saying about history repeating itself . . ? Lazy complacent Humans Never Learn ! ! ! ! . . Trust - me 😈😈😈

[@NateWaldron]

Bitcoin fixes all of this. There is even services where you can pay all your bills via Bitcoin. You literally don't need a bank account anymore.

[@martin3399]

@PatRisberg Who are "these scumbags" lol?

[@stevestevens502]

which ones do you use?

[@alchobum]

​@@Deltron6060There are Bitcoin ATMs where I live. But the transaction fees are horrendous. In some countries there are people exchanging cash for crypto but then you have the trust issue (which goes both ways).

[@waywardgeologist2520]

Thanks for the info on U.S. banks.

[@nomadcapitalist]

Thanks for watching!

[@motofunk1]

Don't forget that with CBDC's that banks do not need to exist.

[@HughJass-313]

😆😆 Right! The GOVERNMENT can "turn off" your money INSTANTLY 🔥🔥🔥

[@pricecontrols]

thank you

[@nomadcapitalist]

You're welcome!

[@leonab545]

When capital one wanted to close your account, was it difficult accessing your funds or transferring the funds elsewhere?

[@amgengroup5352]

Besides the bank where can i double my money, I believe the bank is ripping me off

[@valerieann8007]

At around 6:00 things the worst banks do.

[@futurekron]

Always great information, Andrew. I have 5 different bank accounts...different types, but I also have several 'side hussles' that add up to a full time gig. The only thing is they're all USA, and in USD$, but I'm working on changing that to include at least one overseas bank/currency by next year. And, then possibly a second or third in different countries/currencies after that. With that being said, I really don't make that much moola, but still want to make sure I'm covered...AND out of this country by 2026 when I think the bank bail-ins will run en masse.

[@brianp2545]

What are your thoughts on Wise?

[@Bohemiahotrodandcustom]

I have 3 accounts at 2 different banks i also have a minimum of $10,000 cash and another $10,000 in foreign currency hidden away just in case.

[@Val-uj3nr]

So basically banks can discriminate against you for personal or political reasons?

[@celtic15c]

Yup! ESG

[@artpena72]

i had to open a second bank account for all the reasons you stated, i still do business with the first one, but i had to open a second account because the first one was sending me letters

[@tyroneanderson5619]

This is exactly why Bitcoin is needed, Banks CANNOT be trusted.

[@oblivionknockout7952]

ugh bitcoin is rubbish. you need a bank account to even buy bitcoini and then when you want to use bitcoin you have to withdraw it back into a bank account into $$$. it's all tracked and hardly "decentralized" bitcoin is most likely a trojan horse that will usher in their cashless society they want to push (2030 agenda) and try to make it look like a genuine movement from "the people"

[@JohnS-il1dr]

FTX...

[@cwright4691]

So, can you give the names of a few banks that you suggest the people look into to open up various banks accounts with, what jurisdictions they are in, and the benefits to help get started? If you can, that would be very helpful. Thank you.

[@nomadcapitalist]

Hi there, in this video, we talk about some of our favorite banks offshore, check this out: kzbin.info/www/bejne/foWuf4uboatric0

[@sluggerr4022]

So if Swiss banks can't be trusted, what banks can?

[@Rohol64]

My bank closed my bank account the other day because I had a greasy stain on my tie.. 😅

[@bryansprecher]

Unless you're a corporation.

[@MVProfits]

Kanye got shafted hard yet he certainly had tons of options with the kind of money he has. He wasn't advised well, to say the least. On a much lower level, is choosing different local banks, online banks, having some money in Stripe. PayPal accounts etc., a good idea? While certainly NOT full proof, as they all are part of the same system and fairly easy to trace, is it safer still?

[@oldscratch3535]

That's generally what I do. I have an account with a small credit union in the midwest (I'm on the east coat), I have an account with Ally Bank that is my main use account, another one with a very small local bank that is mainly an ag bank catering to farmers and locals (you have to reside in the county), I have reloabable debit cards, and crypto both on hardware and software wallets. There's no reason to not be as diversified as you possibly can be. Kanye has so much money he could open and operate his own banking institution.

[@hemantparakh6462]

Bank account can be given up in 121 Months Time and Taxes can be given up in one month Time

[@johnnycarson109]

I only keep $200 dollars in my bank and the rest I keep in cash. invest in gold and silver. buy extra supplies of food. I read about the great depression when no one could pull out thier hard earn cash from thier banks. Thats not going to happen to me!!! the highest amount of money i would keep in my bank is $500 anything higher and i wont be able to pay my bills in half.. Hope you guys dont make the same mistakes and keep $200,000 in your bank otherwise you might lose it forever... good luck

[@razorsharplifestyle101hard9]

This is an important subject.What about the idea of keeping your 200k cash on multiple debit cards ?

[@keith62970]

Worrisome.

[@Sammi_Kristiansen]

I agree with Andrew that we should have more than 1 bank account to diversify. But Kayne also said a lot of things throughout the years that make him at risk..... This is not surprising

[@nomadadventures5267]

There are convicted murderers and child rapists who still have bank accounts.

[@JohnS-il1dr]

What one says should not be a condition of how banks treat you.

[@nowwhat544]

I have $ 72.45 in my bank account. They can keep it 😂😂

[@pepsico815]

Bitcoin fixes this.

[@joecola6487]

And when the lights go out ? Transactions are from man to man .. there is no substitutions. Bitcoin is not a tier 1 asset .. Au is the answer . Don’t believe me … look at the rest of the world buying up Gold like no other time in 50 years . Something else happened 50 years ago ….

[@Bronislaavv]

keep it up

[@renarich4942]

It won’t work in a coordinated bank freeze

At 5:14 , it seems back than Andrew did not know about VPN :D

[@Alien2799]

Capital One did not give you your money? Did I understand that right? Wow. How much was it?

[@ziggzagg7372]

Bitcoin is the answer to that

[@joecola6487]

And when the lights go out ? Just a simple question …

[@nicolelouis8968]

No it's too volatile so it's not the answer at the moment.

[@ziggzagg7372]

​@@joecola6487 All around the world at once?

[@ziggzagg7372]

​@@nicolelouis8968 Bitcoin is finite

[@tonimilstead5089]

They didn't like Kanye's politics. We're turning into a banana republic 😢😢😢

[@JohnS-il1dr]

Already there. Chicago and Calif have no bail laws now and voting no longer works

[@bshef3424]

Are Money Markets also at risk in this same boat?....Recently heard Schwab is possibly sinking & sounding alarm bells

[@blktauna]

Schwab stock !== the brokerage which is separate.

[@timothyandrewnielsen]

Should be illegal to freeze assets.