opening foreign bank account ?

Does anybody knows if it is possible to open an foreign bank account from overseas ? I would like to open an account with about 5000$. The reason is following. Where I live in Venezuela, the exchange from local currency to foreign currency is frozen for example: 1 USDlrs = 2050 Bs. (local currency). On the parrallel black market I will receive 3800 Bs per 1 USDlrs. The black market is all over the place here. Nobody here exchanges thru the banks since the exchange rate is not realistic.

I want to be able to make wire transfers from my foreign account to somebody elses account in the US or Europe, who will in exchange pay me according to the local black market.

I have funds on Pokerstars and a little on Neteller. I could open EPassport.

BTW, I hold a german passport and could open an account there, but I would have to trawel to germany to open an account. Maybe there`s an easier way to do it.

Any suggestions greatly appreciated.

[maxtower]

I still don't understand how this fixes your problem. At some point won't you need someone to mail you cash in USD so that you can convert it on the black market?

maxtower, not really. People buy dollars or euros in cash here and pay the black market price, but most businessman here also have accounts overseas and are glad to buy $$ via wire transfer. For example, I transfer to their US account and they pay me in cash once they confirm the funds. It`s common practice here. You see I want to find a way to cash out a certain amount monthly from my poker winnings without loosing money to the unrealistic fixed exchange rate.

[GeorgeF]

Why not get an account that comes with an ATM card. They must have ATMs in Ve.

As to which bank search on "off shore banking", LLyods TSB might be able to help you.

[spider]

[ QUOTE ]
Why not get an account that comes with an ATM card. They must have ATMs in Ve.

[/ QUOTE ]

B/c the ATMs (like the banks) are going to do it at the official rate not the black market rate.

I was in Zimbabwe about a year ago and they have the exact same problem. The only solution I knew of there was to drive across the border to get foreign currencies.

Can you drive to Columbia or any neighboring countries to open an account? I don't suppose there are a lot of Venezuelans who play poker, but I'm sure there are lots of businessmen who have the same problem and have some kind of workaround. Try to make some contacts with folks who are likely to have some business interests & contacts outside of Venezuela.

[johndenver]

why dont you just go make an infinite amount of money by withdrawing from bank, trading on black market, then depositing in bank, then repeating?

[maxtower]

Obviously the bank transfers are one way or they would go broke.

I still don't understand how having a foreign account will get you USD in cash. Will some local give you USD in cash if you transfer money to them electronically?

[ QUOTE ]
Obviously the bank transfers are one way or they would go broke.

I still don't understand how having a foreign account will get you USD in cash. Will some local give you USD in cash if you transfer money to them electronically?

[/ QUOTE ]

No they exchange USD to local currency but at the black market rate. Good enough for me since I`m gonna spent the money. I was considering going to curacao wich is close by and open an account there. Thanks for all the replies.