Don_DickleM to Explain Like I'm FiveEnglish • 1 day agoELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?message-square29arrow-up194arrow-down13
arrow-up191arrow-down1message-squareELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?Don_DickleM to Explain Like I'm FiveEnglish • 1 day agomessage-square29
minus-square@jeffwlinkEnglish12•1 day agoJust to be clear, it’s not like the bank explicitly says “yeah, we’ll hide your money for x%” Banks make money on fees, active management of investments, etc.
Just to be clear, it’s not like the bank explicitly says “yeah, we’ll hide your money for x%”
Banks make money on fees, active management of investments, etc.