I'm an American citizen living and working in Switzerland for the last 8 years. When my daughter turned 5, I took her to our local bank to open a savings account for her. The people at the bank turned pale when they realized I was an American. They explained to me that they would have to do a giant pile of paperwork and due to the trouble, they could not open an account. My wife (who's Swiss) had to go to the bank to do it for me. I've had this experience several times, and only hold one account here. It's not like I'm a tax-dodging rich person, I'm an average programmer earning a modest wage. Meanwhile, I know Americans who live here and have quite a lot of money, and manage to move it around and not pay much tax at all. It makes me really want to give up my passport, too.