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Re:Ask YC: I need a world-friendly bank by SwellJoe on Thursday March 13, 2008 @07:43PM (#136380)
I've always had problems doing business internationally from US banks. EFT is ridiculously expensive in the states...and no one even knows what a SWIFT code is at every bank I've ever used (I don't know what they are either, but I know they're supposed to make funds transfers easier and faster...but they just mean the local banker spends a half hour on the phone talking to someone in NY trying to figure out how to deal with the SWIFT code). This is an area (banking in general, not just EFT) that I think subtly raises the friction on US companies doing business internationally that I suspect European companies don't have to deal with. One of many straws that eventually leads to Europe being a better place for business than the US.

I've yet to find a bank that I really like for business, and I've been through several. Local ones, paradoxically, seem to actually provide better service and less nuisance fees, but they have other problems.

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