Quote from ArchAngel:
Setting up your own bank isn't for the casual situation. It costs around $20K+ in a place like Belize. If you've got a lot of dough you need to keep stealthed it's one way to do it though. Such a bank will be limited to taking only non-local (e.g., Belize citizens) accounts but banks like Bank of London and others will handle your bank's accounts, so you can access SWIFT and other normal banking features for your accounts.
But you got to really need that angle for it to be worth your while. Most people looking for something along those lines can just go the offshore corp route.
. That's what in fact how Bank of America was created by an italian. He was laughed at because no one believed he would succed and JP Morgan who was also his "advisor" theorically tried to operate a raid on his bank through the market but he succeded to lock everything so that it wouldn't be possible. He was a very simple guy and he created the bank for helping the little commerce for they couldn't borrow from the banks. Even when very rich he never wear luxury clothes and when his daughter made him the remark he just answered that he was born to help others. If every banker was like him the world would be different for sure
. Now today Bank of America must have become just as crook and controlled by the same maffia than others.Quote from okwon:
The own your own bank thing is most likely a scam. You might if you're lucky actually be able to get a banking license from some weird country, but your bank will never be able to get correspondent accounts at the major banks or access to the SWIFT system making it pretty useless to own the license.