I’m eager to move some funds out of some US based investments and was pondering investing with Bison as I already have an account there, which was not that easy to get! They seem to be quite aggressively building the investment side of their business, (outside of GV) and I’ve found them very professional and forthright throughout my short GV journey. I really don’t know enough about international investing to even start a conversation with their investment team yet and I need to learn more, but thought I’d see if anyone here had experience or insights investing with them outside GV?
I wouldn’t, mostly because fees are high and they don’t seem as professional as my banks/financial accounts in the US
If you want the money invested in non-American investments, you can do that in your US financial institutions. Make sure you’re decided about whether or not you need to move the actual holding of your assets to a non-US account, and consider the tax implications etc
Thanks, I appreciate your input. Definitely going to take my time and consider tax implications before moving anything, but I do feel it would be wise to have a stash a bit further afield.
2 Likes
Its deposit account maintenance fee is already high compared to Santander or Caixa. However, it is waived if the balance exceeds €100k. Therefore, it may be worth either moving the deposit account elsewhere or considering their investment account to negotiate total maintenance cost.
The low-risk investment account has a 0.25% maintenance fee, while the mid-risk account charges 0.5% . Plus an additional 0.25% per order execution. Overall, this seems more competitive than Revolut and similar apps, but worse than Interactive Brokers. Please share if you are having better rates in the US.
Bison’s investment advices are clear but simply who is better than a SP500 ETF on the long run I dont know.
2 Likes
And for anybody still subject to US taxes, be extremely careful to avoid PFICs (most typically non-US managed mutual funds) if you do business with non-us brokerages.
You can Google all the tax risks and complications - but this site seems to have a good explanation.
1 Like