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On the subject of banks, I simply detest banks and bankers. To me, they are just pimps with a nice suit. I have no use for them. If you want to defend the oppressive conduct of money lenders, I'll take the bait. Otherwise, I suggest you find a more deserving victim than me.
I agree with the other poster that said you might have an offshore account because you might live/work overseas. That was exactly my situation. Although, I'm American I live outside of the USA and I owned a few properties overseas in different countries so I had bank accounts in several countries.
Just keep in mind if you have more than $10,000 in an offshore account you have to declare that on a special form with the IRS each year. There are penalties if you don't. I've always reported these accounts and thank God I did! I got audited 2 years in a row a few years ago.
One thing to keep in mind is I believe your odds of getting audited are MUCH higher when you list several offshore accounts. I had accounts in 4 different countries outside of the USA and had to report them each year.
Just keep in mind the higher chance of getting audited by listing these offshore accounts.
And the other posters are correct when they say that there is no such thing as "offshore" anymore. All these banks are sharing information and turning over clients to the IRS. So have good reasons for opening up a bank account outside of the USA. If I didn't live or work outside of the USA I never would have.
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