Bank Accounts and Tax

Anyone who has tried in recent years to open a bank account has found that it takes about a month; ten years ago you could open a bank account in a week. Twenty years ago the process took half an hour. Today in the developed nations people need bank accounts far more than they did twenty years ago. The vast majority of payments are not made in cash but by bank transfer or credit card transactions. The reasons for this simple operation taking so long is modern days is given as the need to prevent money laundering. The reason given is not the whole truth. Continue reading