Just to clarify, we're not saying that banks cannot use the W-8 form if it's already filled out. However, for the many people that they will now have to check whether they are subject to U.S. tax or not, I think it would be nice to have that option of another simpler form which the banks could use to try to avoid this potentially seven hours of time it would take to fill out the W-8.
On May 29th, 2014. See this statement in context.